NewsWhore
09-19-2008, 05:20 PM
Caribbean Regional Negotiating Machinery (CRNM) Director General Henry Gill is in the DR today speaking on the much-debated Economic Partnership Agreement between the European Union and Cariforum (the Dominican Republic and Caricom). Gill, a key figure in the negotiation process, highlighted the innovative nature of the agreement and detailed how criticisms of the agreement have been unfounded. Gill spoke on the challenges of negotiating such an agreement, which included negotiating with EU, having to negotiate on a regional level before presenting a united position and trusting local negotiators to jump from a local stance to a regional stance.
Another challenge was trusting outside negotiators and consultants to present local issues and concerns on the regional negotiation stage. According to Gill, the region got the best deal possible with this agreement. He explained that EU markets were opened in an unprecedented fashion, while limiting access to the Caribbean markets and protecting the smallest economies of the region. The EPA, through osmosis, increased the level of regional cooperation and strengthened governmental institutionally (through the agreement). The DG answered rebuttals from critics by citing that the liberalization process between both sides, which some had said will happen to quickly, has in fact already begun. Gill explained that now there is a consolidated liberation schedule. Gill specifies that 53% of imports from the EU were already entering the region with low tariffs of between 0% and 3%. The remaining products will be liberalized on a gradual scale during the next 25 years, giving smaller countries a gradual period to strengthen their economies.
There is also an exclusions list for a majority of products that are considered "fragile" or of importance to the national economies of Cariforum nations. There is the possibility of renegotiating the tariff schedule for certain goods if it is noticed that they are being hurt as a result of the EPA. Furthermore there is a three-year grace period for the liberalization of EU products, which means that products imported to the Caribbean from the EU will not be liberalized until 2011. This is a major plus for the Caribbean considering that the EU liberalized entry of Caribbean products effective 1 January 2008. According to Milagros Puello from the Dominican Chamber of Commerce, one of the DR's challenges in making the EPA work is increasing the quality of education in the DR and educating more bi-lingual students. She added that citizens of Caricom nations already speak English, giving them an advantage, and the DR needs meet this challenge. The next step with the EPA, barring any more delays, will be the 15 October signing of the agreement in Barbados.
For full article go here: http://dr1.com/trade/news/
More... (http://www.dr1.com/index.html#9)
Another challenge was trusting outside negotiators and consultants to present local issues and concerns on the regional negotiation stage. According to Gill, the region got the best deal possible with this agreement. He explained that EU markets were opened in an unprecedented fashion, while limiting access to the Caribbean markets and protecting the smallest economies of the region. The EPA, through osmosis, increased the level of regional cooperation and strengthened governmental institutionally (through the agreement). The DG answered rebuttals from critics by citing that the liberalization process between both sides, which some had said will happen to quickly, has in fact already begun. Gill explained that now there is a consolidated liberation schedule. Gill specifies that 53% of imports from the EU were already entering the region with low tariffs of between 0% and 3%. The remaining products will be liberalized on a gradual scale during the next 25 years, giving smaller countries a gradual period to strengthen their economies.
There is also an exclusions list for a majority of products that are considered "fragile" or of importance to the national economies of Cariforum nations. There is the possibility of renegotiating the tariff schedule for certain goods if it is noticed that they are being hurt as a result of the EPA. Furthermore there is a three-year grace period for the liberalization of EU products, which means that products imported to the Caribbean from the EU will not be liberalized until 2011. This is a major plus for the Caribbean considering that the EU liberalized entry of Caribbean products effective 1 January 2008. According to Milagros Puello from the Dominican Chamber of Commerce, one of the DR's challenges in making the EPA work is increasing the quality of education in the DR and educating more bi-lingual students. She added that citizens of Caricom nations already speak English, giving them an advantage, and the DR needs meet this challenge. The next step with the EPA, barring any more delays, will be the 15 October signing of the agreement in Barbados.
For full article go here: http://dr1.com/trade/news/
More... (http://www.dr1.com/index.html#9)