EPA signed and sealed
With much pomp and ceremony, 13 Caribbean states on Wednesday took a bold step forward in cementing their future trade with Europe, leaving Guyana and Haiti alone to further contemplate their participation in the Economic Partnership Agreement (EPA). The two Caribbean Community (CARICOM) member states were notably absent from the official EPA signing which took place at the Sherbourne Centre, just outside the capital, between officials of the European Commission and CARIFORUM -- the grouping that links CARICOM to the Dominican Republic.
However, the Bharrat Jagdeo administration in Guyana, which had long criticised the agreement in its present form, sent word to Bridgetown of its intention to finalise the trade deal by the end of October. Officials also said that Haiti - which recently installed a new government and has been grappling with the impact of recent natural disasters - also intends to sign the EPA before the October 31 deadline expires. Wednesday's signing -- which was highlighted by a cultural display -- comes amid the ongoing debate in the region about the merits and demerits of the new trade accord. Staunch critics - including President Jagdeo - have accused Europe of using bullying tactics to force the region into signing the agreement which they feel may not necessarily redound to its benefit. But avid supporters say the EPA will open up a whole new world of opportunity to the Caribbean, which has traditionally served up goods such as rum, rice, sugar and bananas as export commodities to satisfy European consumption. Delivering the feature address at the signing, the Barbados Foreign Minister Chris Sinckler proved his worth as a recent convert who has now joined the chorus of strong EPA supporters. Sinckler, who in the past had strongly opposed aspects of the accord, urged the region to forget the past and look to the future. "Our signature of this agreement today in my view represents a fundamental signal to the rest of the world that Caribbean countries are maturely and decidedly breaking with a long loved past that in fact has now past," he said.
"Of course there are those among us who prefer like Lot's wife to look back at a life which we must have enjoyed and longed for to continue. We can have no quarrels with that, but surely they understand that we must move on."
In inking the final deal on his country's behalf, Sinckler, however, warned of the uncertainty that lies ahead. "With this act today, we embrace an uncertain future," he said, adding that now was the time to focus attention and energies "not on what could have been but what has to be". The Barbados Foreign Affairs Minister also used the occasion of the signing to remind EU partners of their commitment to providing development support to the region. "Although mindful that the development dimension of the EPA is not limited to the direct transfer of resources, I must emphasise that the timely delivery of necessary financial support will be vital if the EPA is to achieve the objectives which both sides set out in their negotiating mandates," he said. Also addressing the ceremony, the CARICOM Secretary General Edwin Carrington noted that the agreement was being signed at a time of major crisis in the global community. "What this new Economic Partnership Agreement and its form of partnership now demands of us...more than ever, is prudent and effective implementation by all parties," Carrington said, also urging EC partners to ensure efficient and timely discharge of their obligations to the region. "In this regard, the early determination and provision of an equitable share of the Aid for Trade resources will be crucial. Equally important is the commitment of the EC to consider modification to the Agreement as necessary following our joint review taking into account our shared experience in implementation," Carrington added. In response to the Caribbean's concerns, the UK's Trade and Development Minister Gareth Thomas pointed to a recently-approved package of 46 million pounds sterling (US$80 million) which he said was intended to help countries to develop more effective ways to trade with Europe and the rest of the world. "Ten million pounds has been earmarked for a regional development fund to help the area develop a single market economy - a larger EU style domestic market which will be crucial in delivering growth and making local businesses more competitive internationally," Thomas noted. The EPA was initialed last December in Barbados and replaces the trade provisions of the Cotonou Agreement which expired at the end of 2007.
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