NewsWhore
08-22-2008, 04:41 PM
Although negotiations and signing of the Economic Partnership Agreement (EPA) have hit obstacles in the last two years, the Caribbean-European treaty is due to be signed in Barbados on 2 September. The agreement provides development funding for Caribbean Community nations and the Dominican Republic and is expected to ease intra-Caribbean trade barriers and those between the Caribbean and Europe.
However, not all parties involved are supporting the agreement and argue that the EPA was signed in haste, without full consideration of the consequences. Critics have claimed that negotiators were bullied into the agreement, but as has been explained, the current version of the EPA is considered the best agreement the region could get.
The liberalization scale for goods in services is unparalleled in a trade agreement and the inclusion of services in the agreement is a first for an accord of this type. The EPA also includes special exemptions for Haiti.
Still on the agenda are details about the regulation of banana, rum and sugar and whether or not there should be a quota system. However, this must pass to the World Trade Organization for discussion, as the current standard is now considered illegal under WTO rules.
Another concern voiced by smaller nations is that the EPA would reduce tariff revenues. The concern is well founded, considering that many smaller Caribbean nations depend on these revenues since they lack an organized domestic tax structure. Supporters of the agreement argue that the gradual liberalization will allow for smaller economies to adapt.
Despite dissident opinions the EPA brings high hopes of increased exports by regional players to Europe, which has a consumer base market of 400 million people, with unparalleled purchasing power. According to Jose Vanderhorst Silverio, Fernando Gonzalez and Oscar Rosa, the EPA is the best way for the Caribbean to achieve greater integration with Europe.
More... (http://www.dr1.com/index.html#8)
However, not all parties involved are supporting the agreement and argue that the EPA was signed in haste, without full consideration of the consequences. Critics have claimed that negotiators were bullied into the agreement, but as has been explained, the current version of the EPA is considered the best agreement the region could get.
The liberalization scale for goods in services is unparalleled in a trade agreement and the inclusion of services in the agreement is a first for an accord of this type. The EPA also includes special exemptions for Haiti.
Still on the agenda are details about the regulation of banana, rum and sugar and whether or not there should be a quota system. However, this must pass to the World Trade Organization for discussion, as the current standard is now considered illegal under WTO rules.
Another concern voiced by smaller nations is that the EPA would reduce tariff revenues. The concern is well founded, considering that many smaller Caribbean nations depend on these revenues since they lack an organized domestic tax structure. Supporters of the agreement argue that the gradual liberalization will allow for smaller economies to adapt.
Despite dissident opinions the EPA brings high hopes of increased exports by regional players to Europe, which has a consumer base market of 400 million people, with unparalleled purchasing power. According to Jose Vanderhorst Silverio, Fernando Gonzalez and Oscar Rosa, the EPA is the best way for the Caribbean to achieve greater integration with Europe.
More... (http://www.dr1.com/index.html#8)