TIGblogs TIG | TIGblogs GROUP TIGBLOGS LOGIN SIGNUP
Bahamas Blog International
Bahamas Blog International
The Proposed Economic Partnership Agreements (EPA) With The European Union Is Attracting Much Attention And Consternation In The Bahamas And Caribbean
Translations available in: English (original) | French | Spanish | Italian | German | Portuguese | Swedish | Russian | Dutch | Arabic

A growing chorus against EPA:
The Nassau Guardian Editorial -
Nassau, Bahamas:




The Bahamas government has recently announced its intentions to hold a series of town meetings on the Economic Partnership Agreement (EPA) to discuss and hopefully, clarify matters of concern to the general public, special interest groups, academics and other non-governmental organizations (NGOs).

That course of action is not only timely, it is critical to addressing a topic which appears to be gathering detractors at an increasing rate, both here in The Bahamas and the wider Caribbean, as the days go by.

State Finance Minister Zhivargo Laing correctly noted that one of the most vociferous local critics of the agreement is the BARF group and although that group apparently opposes The Bahamas entering into any trade agreements, it is not the only one, and the many other less vocal individuals and groups would also need to be heard on this important issue.

This proposed EPA with the European Union is attracting much attention and consternation both here and in the Caribbean because it differs radically from all former trade agreements executed by Caribbean nations.

To begin with the earlier trade agreements with the U.S. (Caribbean Basin Economic Recovery Act); the European Union (Lome Agreements followed by the Cotanou Agreements); Canada (CARIBCAN) were essentially one-way-street preferential agreements which were restricted to Caribbean products having tariff-free entry into the markets of those developed countries on a non-reciprocal basis.

The EPA on the other hand, would make provisions for tariff-free access for both goods and services from the Caribbean countries to enter European markets while at the same time, extending the same market access privileges to European goods and services entering the Caribbean.

In addition to the denunciation of the proposed trade agreement by the government of Guyana, the list of detractors now includes the Barbados Manufacturers Association which is of the view that the agreement is not in the best interest of the region and that the repercussions are likely to be so severe that the matter should not proceed without a referendum; a number of trade consultants who are of the view that the fiscal implications of the agreement have not been fully fleshed out and may cost Caribbean governments much more than originally estimated, not to mention the impact the EPA might have on any future trade agreements the region might wish to entertain.

The Barbados Agricultural Society was somewhat less subtle but more to the point in its conclusion that the agreement was a "bad deal" and that the governments, intellectuals and trade unions who negotiated the agreement had failed the region. The newly installed government in Grenada is reported to have said that they will delay signing-on until it has had the opportunity to properly review the implications.

Other experts were more optimistic while acknowledging that mistakes were made, they were of the view that the Caribbean governments and that of the Dominican Republic were determined to sign the agreement in September and in those circumstances, manufacturers, businesses and other members of civil society ought to look ahead and make the best of the situation by finding ways and means to exist in the new trading order.

It is difficult to determine the precise impact the EPA will have on any member of CARICOM including The Bahamas since comprehensive trade data is lacking in some instances; the differing timetables for full implementation; the inability to project or anticipate any new services areas that may become available in the future; and the exact nature of non-tariff barriers that may exist in Europe to derail the cross-border flow of goods and investment.

What we could determine at this point however, is that the growing concern and uncertainty regarding the likely impact of the EPA needs to be carefully explained both here in The Bahamas and throughout the Caribbean region.



Society Blog Directory

September 5, 2008 | 11:40 AM Comments  0 comments

You must be logged in to add tags.


Dennis Dames's Profile


Latest Posts
Call for unity as the...
Slow Down: How Our...
The situation in Honduras
Michael Jackson...
Michael Jackson Was a...

Monthly Archive
December 1969
October 2005
November 2005
December 2005
January 2006
February 2006
March 2006
April 2006
May 2006
June 2006
July 2006
August 2006
September 2006
October 2006
November 2006
December 2006
January 2007
February 2007
March 2007
April 2007
May 2007
June 2007
July 2007
August 2007
September 2007
October 2007
November 2007
December 2007
January 2008
February 2008
March 2008
April 2008
May 2008
June 2008
July 2008
August 2008
September 2008
October 2008
November 2008
December 2008
January 2009
February 2009
March 2009
April 2009
May 2009
June 2009
July 2009

Change Language


Tags Archive
america american bahamas bahamians bush caribbean crime cuba development economic enfusion engagement global health ict4d individualeconomy international investment networkbuiding obama organisationalchange people personaldevelopment political president socialentrepreneurship trade war world

Links
A+ Links Int'l
Bahamas Blog
Bahamas Dames
Bahamas Hotels
Bahamas Search
Bahamian WebRing
Blog Directory
Blogadr
BlogExplosion
Cheap Int'l Calling Cards
Crooks Blog
Dating Network
Free Paid Web Directory
LS Blogs
Politics Blogs
Top 100 Women Websites
Top Web Blogs
Vote For Me


692570 views
Important Disclaimer