The United Kingdom is encouraging “timely signing” and implementation of the Economic Partnership Agreement (EPA) to secure the trading relationship between the European Union and Caricom and the Dominican Republic.
Meanwhile, ministers who attended the July 15-16 Sixth UK-Caribbean Ministerial Forum in London also noted that the future climate change agreement should take account of the increasing pressures on standing forests. This has been a key demand of Guyana as it seeks to offer the services of its forests in the battle against climate change.
The communiqué issued at the end of the forum at Lancaster House said that the ministers noted that several Caricom countries have completed their internal consultations and have expressed a readiness to sign with the EU the Cariforum-EC Economic Partnership Agreement initialled in December 2007.
They also noted that Guyana would be undertaking national consultations to review aspects of the initialled EPA before taking a decision on signing and that the newly-elected government of Grenada would also be undertaking a review of the agreement.
According to the communiqué the ministers acknowledged that the EPA is intended to be a tool for promoting development in Cariforum and were confident that more secure access to EU markets combined with increased opportunities for regional trade would help to develop more competitive regional economic operators. President Bharrat Jagdeo has signalled deep disenchantment with the EPA.
Prioritising
They acknowledged the need to ensure that the resources of the 10th European Development Fund Regional Envelope were prioritised to support regional economic integration and effective EPA implementation.
They agreed that coordinated Aid-for-Trade from EU member states would be essential in assisting Cariforum countries to meet adjustment costs deriving from EPA implementation and in improving Cariforum competitiveness.
In that light they looked forward to early contributions from the EU and its member states to the Cariforum Regional Development Fund.
They highlighted the importance of strengthening business links to maximise the opportunities provided by the EPA and welcomed the offer of the Caribbean-Britain Business Council to organise a series of seminars in the Caribbean in 2009 to assist the private sector in exploring the opportunities provided by the EPA.
Acknowledging the importance of continued remunerative access to the EU market for Caribbean bananas and rice, they underscored the need for a balanced outcome of the ongoing discussions on the rebinding of the EU Most Favoured Nation tariff for bananas and on the treatment of rice in the ongoing World Trade Organisation (WTO) negotiations.
Support in Doha round
The Caribbean ministers reiterated their position that a less than satisfactory outcome in respect of both products could result in a withholding of their support for any consensus in the Doha Development Round.
Recognising the need for resolution in the context of the Doha Development Agenda the ministers agreed that the United Kingdom government would make every effort to influence the outcomes to achieve a balanced and satisfactory result for all parties.
On the issue of climate change the ministers stressed the need for immediate action to address climate change while the UK agreed to fund capacity building initiatives in the Caribbean to facilitate a better understanding by policy-makers for climate change issues. They also confirmed commitment to support the development of a Caricom Strategy on Climate Change and an economic impact review, and assist the region with its preparation for international negotiations on future global climate change frameworks and national development planning.
The ministers met in formal session to discuss security, sustainable development, and economic development. They also held discussions in retreat on a range of issues.
The communiqué said that the UK and Caribbean ministers agreed on priority actions which they committed to implement before the next forum which is due to be held in the Caribbean.
