THE European Union (EU) is providing close to $3 billion in budget support to strengthen Jamaica’s public financial management structure and its forest management/climate resilient projects.
Agreements for the two projects were signed at the Jamaica Pegasus hotel in New Kingston yesterday, as a prelude to the start of the Cariforum-EU Regional Consultations on a successor agreement to the current African, Caribbean, and Pacific (ACP)-EU Cotonou Partnership Agreement at the same venue.
The Cotonou agreement has covered trade relations between Europe and its former colonies and departments for the past 18 years, after being signed in 2000 in Cotonou, Benin, by 78 ACP countries and the then 15 member states of the EU.
However, it will end in 2020, and the parties are currently discussing a successor agreement in Kingston under the chairmanship of Minister of Foreign Affairs and Foreign Trade Senator Kamina Johnson Smith. The discussions also include Caricom Secretary General Irwin LaRocque and representatives from the member states.