A decision to have an independent review of the recently concluded Economic Partnership Agreement (EPA) negotiations between CARIFORUM and the European Union (EU) has been taken by the Council for Trade and Economic Development (COTED).
This was disclosed by Secretary-General of the Caribbean Community (CARICOM), Edwin Carrington as the Twenty-fifth meeting of COTED got underway at Buddy’s International Hotel yesterday.
In his opening remarks, Carrington noted that the issue of external trade and economic relations figured prominently on the meeting’s agenda and of critical importance in that regard was the region’s agenda for future external trade negotiations.
On December 16 last, CARIFORUM (CARICOM member states and the Dominican Republic), concluded negotiations with the EU for the EPA.
Since the announcement of the agreement with the EU there has been strong criticism of some of its provisions and questions about its long-term impact on the region.
There have also been calls for a full explanation of its provisions and detailed discussions in the region on it.
Carrington yesterday disclosed that COTED took the decision that an independent review be undertaken of the EPA negotiations and the outcome will be considered by a Reflections Group comprising senior officials of member states, CARICOM and the Organization of Eastern Caribbean States (OECS) Secretariats, the Caribbean Regional Negotiating Mac-hinery and stakeholders from across the community. He said that this comes after the council’s call for reflection on the process of preparation and approach to future external trade negotiations in order to inform the region’s strategy for the anticipated bilateral trade negotiations now under consideration.
“The Secretariat has taken action in keeping with this mandate from the council and it is proposed to convene a special meeting of the COTED on External Trade Negotiations in Guyana on 28-29 February to receive the recommendations of the Reflections Group,” he said.
He stated that bilateral trade and economic arrangements including those which are now under consideration have significant implications not only for the development of the economies of individual member states but also for the development of the Caribbean Single Market and Economy (CSME).
In this regard, the Secretary-General said, there is a need to accelerate the process of operationalising the CARICOM Development Fund including the Regional Development Agency. He said that it is necessary to enhance the competitiveness of the economies and called on member states to meet their obligations to the fund.
The Secretary General also referred to the launch of the CARICOM Competition Commission on January 18 in Suriname and said that while the commissioners are anxious to begin their duties there are still two outstanding issues.
He said some member states have still not fully met their obligations to the first year’s annual operating costs for the commission. In addition, to fully function region-wide and within member states the relevant competition law must be passed in each country. “Many member states are still to fulfil this requirement”, Carrington lamented.
Meanwhile, on the agenda of the COTED meeting yesterday was the Implemen-tation of the CSME, Poverty and the Rising Cost of Living, Trade in Goods, Services, Standards and External Trade. Under the heading of poverty and the rising cost of living, the recommendations from the Technical Team on Reductions or Removal of the Common External Tariff (CET) on commodities in the consumer price index were slated to be discussed.
Under Trade, the agenda included a request by the Trinidad government for a revision of the monitoring mechanism for rice, another request by the said government for the suspension of the CET on soya bean oil, another request by the same government for the suspension of the CET on parboiled rice as well as another request by Trinidad for a suspension of the CET on raw sugar. The Trinidad requests in relation to the rice mechanism and sugar were likely to be of great interest to Guyana.
Meanwhile, new Chairman of COTED, Jamaica’s Minister of Industry and Commerce, Karl Samuda, said that the region was at a critical juncture and has to make its way in an increasingly hostile and competitive world. He declared that Information, Communi-cations and Technology (ICT) should be used as a catalyst for development.
“We must invest in ICT,” he declared.
The COTED meeting, which ended yesterday, followed the Second Joint Meeting of the COTED and the Council for Human and Social Development (COHSOD) on Thursday.