Caribbean trade negotiators have agreed to the new Economic Partnership Agreement with the European Union (EU) which would pave way for a new duty-free and quota-free access for rice exporters.

Under the new rice agreement, which takes effect January 1, 2008, farmers will also be freed of the €65 pmt they now pay on quota exports.

In addition, the Caribbean nations have also been granted a quota of 187,000 MT for 2008, representing a 29 % increase over this year's 145,000 MT serviced solely by Guyana.