The EPA between the EU and most Cariforum countries was signed on Wednesday.

It said the wide-ranging new trade deal is aimed at attracting investment, lowering import tariffs and reducing poverty in the region.

"The Economic Partnership Agreement is the first genuinely comprehensive North-South trade and development agreement in the global economy," the European Commission said in a statement.

It said, "It includes a package of measures to stimulate trade, investment and innovation, and to promote sustainable development, build a regional market among Caribbean countries and help eliminate poverty."

Haiti did not sign and Guyana has deferred it's signing until later this month.

Guyana's objections

Guyana had been objecting to the EPA on the grounds that the trade agreement puts it, and other Caribbean countries, as a disadvantage when compared to European countries and companies.

The country's president, Bharrat Jagdeo, had been seeking several concessions prior to signing, among them a five-yearly review of the agreement.

However in a statement Wednesday, the Guyana government reiterated the conditions udner which it would sign the EPA.

It said if it's conditions were met, "it will be willing to sign the Economic Partnership Agreement (EPA). "
made were as follows:

	Guyana's Bharrat Jagdeo had been demanding changes to the EPA

The statement also said "the concerns of Guyana with respect to the Most Favored Nation (MFN) provision, the Singapore issues and the development dimension among other issues remain valid.

"However," it added," given the compromise Guyana has negotiated,
which represents a major step forward and which would benefit the region as a whole, as well as the imminent threat of sanctions, Guyana will be signing the Economic Partnership Agreement (EPA) before the end of October and within the prescribed deadline."

The Economic Partnership Agreement, the EPA, will in the long term replace the preferential trade deal Caricom currently has with the European Union.

UK blessing

The British Minister for Trade and Development, Gareth Thomas, feels the EPA is a good deal for the Caribbean.

Speaking to BBC Caribbean, Mr Thomas said the Caribbean negotiated very strongly and secured some concessions on the EPA from the UK and other EU member countries.

“I believe that now is the time for capitalising on that agreement and putting in place the adjustment packages and extra support for businesses to help them capitalise on it,” he said.

He emphasised that this focus should be “not only on trade with Europe but particularly on trade with each other.”

The complex EPA broadly covers free trade in goods and services between the EU and the ACP countries.