Calls Radical – By Deslyn A Joseph
Calls Radical Reset Trade
In a landmark address at the American University of Antigua (AUA) Conference Centre, the Minister of Foreign Affairs, Trade, and Barbuda Affairs, E.P. Chet Greene, delivered a stinging critique of the region’s 18-year trade relationship with the European Union (EU).
Speaking at the First Caribbean-European Union Parliamentary Assembly on Monday, Greene declared that the Economic Partnership Agreement (EPA), once hailed as a new model for development, remains a largely unfulfilled promise for the people of the Caribbean and recommends a “reset”.
The Minister presented hard facts to illustrate the severe imbalance in the current trade framework, noting that for a small economy like Antigua and Barbuda, the actual economic returns have been negligible despite 100% duty-free access to EU markets.
“In 2023, total exports to the EU from Antigua and Barbuda amounted to a mere US $60,000, which only crept up to US $124,000. The celebrated benefits of market access remain purely theoretical for micro, small, and medium-sized enterprises, which is the distinct absence of Caribbean rum, fresh fish, or fruits on European supermarket shelves,“ he explained.
According to the Greene, the agreement has effectively facilitated EU exports into the Caribbean while failing to help the region diversify its own trade portfolios. He attributed this failure to an implementation strategy that prioritizes market liberalization while neglecting the development cooperation pillars outlined in Article 7 and Article 8 of the agreement, which he argued are the engine meant to make the trade work.
He utilized a graphic metaphor to describe the current competitive landscape, stating that without targeted tangible assistance, the region is essentially asking its businesses to compete in a Formula 1 race on a bicycle. He further emphasized that Caribbean firms, which are all small and operate in fragmented markets with prohibitive costs in energy and logistics, lack the capacity to meet EU technical standards or navigate non-tariff barriers. As the 2026 five-year review of the EPA approaches, Greene proposed a comprehensive reset that pivots from simply trading goods to building genuine sectoral partnerships in areas such as sustainable tourism, digital animation, health and wellness, and maritime services.
To achieve this modernization, the Minister offered three clear and actionable recommendations to the assembly.
First, he called for joint ventures and EU investment in creative and digital industries through financial instruments and matchmaking platforms that connect Caribbean businesses with European investors. Second, he insisted the EU must deliver on the development cooperation provisions of the EPA by providing technical assistance and technology transfers, as outlined in Article 142, to build innovative capacity in agriculture and the green economy. Finally, he urged the assembly to modernize the agreement to reflect the 21st-century economy, with a specific focus on digital transformation, e-commerce, and a “one e-portal” for real-time export opportunities.
Closing his address, Minister Greene emphasized that while the EU is an undeniably important partner, the relationship requires a balance that ensures the EPA works for all people.
