Banana dispute
Moreover, the statement continued, “the banana dispute reaffirms the Caribbean conviction that particular emphasis should be placed on carving out additional opportunities for these small, vulnerable, preference-dependent members.”
Furthermore, CARICOM asserted, “we reiterate our position that the outcome on bananas cannot be divorced from the treatment of other preference erosion products.”
In that light, the Caribbean Community said it “will therefore not accept any attempt to alter the already agreed package, in particular those provisions related to major CARICOM export products, such as rum and sugar.”
Meanwhile, the CARICOM WTO members, as Small Vulnerable Economies (SVE), also emphasized the importance they place on accelerating the full implementation of the Small Economies’ Work Programme.
“This constitutes a development benchmark in assessing the true value of the Doha Development Agenda (DDA). While considerable progress has been made, let us redouble our efforts at marshalling the political will and technical acumen required to complete the Small Economies’ Work Programme,” CARICOM urged.
It also underscored its support for the work and objectives of the G33 on Special Products and the Special Safeguard Mechanism (SSM), adding that “this mechanism must be simple, operational, effective and non-burdensome and offer enhanced flexibilities for SVEs.”
CARICOM, however, noted its concern at the lack of progress in completing the negotiations on the SSM, pointing out that the adoption of such an SSM “remains pivotal to the cardinal pursuits of food security, promotion of rural development and poverty alleviation.”
And while expressing its support for entrusting the WTO with the role of mobilizing additional Aid for Trade resources and monitoring its impact on their economies, CARICOM said that it has been established that Small Vulnerable Economies “can take advantage of trade openings only when these are complemented by a sustained programme of trade capacity building measures.”
Loss of preferences
“The fast–tracking of Aid for Trade (AfT) support programmes in CARICOM states assumes even greater importance in light of the loss of long-standing preferences on major agricultural commodities, and CARICOM is deserving of receiving a fair share of AfT resources,” the statement declared.
CARICOM is also in full support of the ACP Ministerial Declaration which “comprehensively captures our position on the various concerns that we have highlighted.”
CARICOM observed too that it had been “hit disproportionately by the global economic and financial crisis,” while their policy options in response are severely constrained by the high level of indebtedness of their economies thereby limiting their ability to apply adequate national fiscal stimulus programmes.
However, CARICOM said that it recognizes that while the crisis has not generated the rampant protectionism of the 1930s, it remains most concerned with a number of recent developments.
In the statement, CARICOM said they are worried that there is insufficient appreciation of their needs resulting from this crisis.
“We remain concerned that the pledged resources have not yet become available. What we have seen instead is action being pursued that further exacerbates our situation. These include threats to offshore finance centres and the imposition of a discriminatory Airport Departure Tax by a major source of tourism arrivals,” the Caribbean Community pointed out.
But CARICOM maintained that it remained committed to working with other members of the WTO to ensure that the organization assists with the recovery of the global economy.
CARICOM also stated its full support for the early conclusion of the DDA with explicit development-oriented trade measures.
And the Caribbean Community also strongly associated itself with the declaration of the Informal Group of Developing Countries, notably on the general process of WTO Accession by developing countries.
Moreover, CARICOM reiterated unwavering support for the speedy accession to the WTO of one of their members – The Bahamas, the statement added.
