EULAC PERSPECTIVES AND POTENTIALS

1
EU-LAC PERSPECTIVES AND POTENTIALS

• TRADE AND ECONOMIC RELATIONSHIPS

2
THE CASE OF TRINIDAD AND TOBAGO

• LOME/COTONOU AGREEMENT
• TRADE UNDER COTONOU
• ISSUES FOR EXPORTERS
• EXPERIENCES
• SUMMARY AND FUTURE POSSIBILITIES

3
TRADE RELATIONSHIP

• 5 CONVENTIONS SINCE 1975 CULMINATING IN COTONOU
  AGREEMENT
• ALL PROVIDE NON RECIPROCAL DUTY FREE ACCESS TO
  ACP COUNTRIES
• ALSO FINANCIAL ASSISTANCE TO GOVERNMENT, PRIVATE
  SECTOR AND CIVIL SOCIETY

4
PREFERENCES

• DUTY FREE ACCESS FOR OVER 95 OF THE TARIFF
• SECURED MARKETS FOR CRITICAL AGRICULTURE
  COMMODITIES SUCH AS SUGAR, RUM, BANANAS, RICE,
  BEEF AND VEAL
• COTONOU AGREEMENT HAS BUILT IN AGENDA FOR
  NEGOTIATION OF EPAS TO PROVIDE RECIPROCAL
  PREFERENTIAL ACCESS

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TRADING EXPERIENCE
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TRADING EXPERIENCE

• PRINCIPAL TT EXPORTS- ENERGY BASED
• MINERAL FUELS
• AMMONIA
• IRON AND STEEL
• METHANOL
• FERTILISERS

7
TRADING EXPERIENCE

• PRINCIPAL EXPORTS NON ENERGY
• SUGAR
• RUM
• SOFT DRINKS
• PAPER PRODUCTS-DIAPERS
• CEREALS AND BISCUITS
• CONFECTIONERY

8
TRADING EXPERIENCE

• PRINCIPAL MARKETS FOR EXPORTS
• UK
• FRANCE
• GERMANY
• ITALY
• DENMARK
• SPAIN
• BELGIUM-LUXEMBOURG

9
TRADING EXPERIENCE

• NON ENERGY PRODUCTS WITH POSITIVE BALANCES
• SUGAR
• EDIBLE FRUITS AND NUTS
• COCOA BEANS
• BEER
• ALUMINIUM WASTE AND SCRAP
• MATRESSES
• MUSICAL INSTRUMENTS

10
TRADING EXPERIENCE

• EU MARKET THIRD RANKED IN TERMS OF DESTINATION
  FOR TT EXPORTS
• US AND CARICOM ARE THE MAJOR EXPORT DESTINATIONS
• SUGAR IS THE MAJOR NON-ENERGY COMMODITY EXPORTED
  UNDER COTONOU
• CONCERN ABOUT THE NEW SUGAR REGIME IMPACT
• TT EXPORTS TO CARICOM NEGATIVELY IMPACTED BY NEW
  BANANA REGIME
• MAJOR IMPORTS FROM EU ARE MATERIALS AND CAPITAL
  EQUIPMENT

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TRADING EXPERIENCE

• MAJOR IMPORTS FROM THE EU INCLUDE
• PETROLEUM PRODUCTS
• MACHINERY AND EQUIPMENT
• SHIPS BOATS AND STRUCTURES
• ARTICLES OF IRON AND STEEL
• PAPER MATERIAL STOCK
• PLASTIC RESINS AND POLYMERS
• CHEMICALS
• DAIRY PRODUCTS

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ISSUES FOR EXPORTERS

• DISTANCE AND IMPACT ON FREIGHT RATES
• INDUSTRY CAPACITY TO DELIVER
• STANDARDS/PHYTOSANITARY MEASURES
• AFTER CARICOM TENDENCY TO FOCUS ON MARKETS MUCH
  CLOSER

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EXPERIENCES

• KEY DIFFICULTIES IDENTIFIED BY EXPORTERS OF FOOD
  PRODUCTS
• EXPORT OF CONFECTIONERY TO UK CHALLENGED IN
  TERMS OF DUTY FREE ACCESS
• IMPORTER PAID DEPOSIT WHICH WAS REFUNDED
• SIMILAR PRODUCT EXPORTED TO GERMANY WITH NO
  DIFFICULTY

14
EXPERIENCES

• EXPORT OF SOFT DRINK QUERIED IN TERMS OF EUR1
  FORM
• MATTER UNDER REVIEW
• EXPORT OF CHOCOLATES AND BISCUITS THROUGH
  COMPANY IN EU

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SUMMARY

• AGREEMENT MAINLY UTILSED BY EXPORTERS OF
  TRADITIONAL COMMODITIES COVERED BY
  PROTOCOLS..SUGAR RUM
• ENERGY SECTOR EXPORTS INTERNATIONALLY COMPETITIVE
• NON ENERGY EXPORTS VARIED

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SUMMARY

• NEED TO INCREASE KNOWLEDGE OF THE AGREEMENT AND
  THE MARKET
• FINANCIAL ASSISTANCE WITH TRADE MISSIONS TO THE
  EU NECESSARY
• GREATER KNOWLEDGE OF LABELLING AND STANDARDS
  REQUIREMENTS ARE NECESSARY