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06 October 2008 - David Jessop
“The euphoria of speculators has spawned the anguish of entire peoples....Only decisive action by governments, especially in countries at the heart of the crisis, will be able to control the disorder that has spread through the world’s financial sector, with perverse impacts on the daily lives of millions of people. A dearth of rules favours adventurers and opportunists, to the detriment of real companies and workers”.
Using these words at the UN General Assembly on September 23, Brazil’s President Luis Ignacio Lula da Silva, spoke for the many millions of individuals across the world who have viewed recent events in international markets with revulsion.
In doing so, he enunciated a widespread fear; which is that ever wealthier speculators, hedge funds and others manipulating everything from food and energy prices through to the fortunes of sound productive companies, are quite prepared to destroy livelihoods and whole nations in their relentless pursuit of personal gain.
His words came in response to an extraordinary period of market turmoil that has brought into question the future direction of globalisation, capitalism and in particular the US administration’s laissez-faire approach to the financial markets.
“The euphoria of speculators has spawned the anguish of entire peoples....Only decisive action by governments, especially in countries at the heart of the crisis, will be able to control the disorder that has spread through the world’s financial sector, with perverse impacts on the daily lives of millions of people. A dearth of rules favours adventurers and opportunists, to the detriment of real companies and workers”.
Using these words at the UN General Assembly on September 23, Brazil’s President Luis Ignacio Lula da Silva, spoke for the many millions of individuals across the world who have viewed recent events in international markets with revulsion.
In doing so, he enunciated a widespread fear; which is that ever wealthier speculators, hedge funds and others manipulating everything from food and energy prices through to the fortunes of sound productive companies, are quite prepared to destroy livelihoods and whole nations in their relentless pursuit of personal gain.
His words came in response to an extraordinary period of market turmoil that has brought into question the future direction of globalisation, capitalism and in particular the US administration’s laissez-faire approach to the financial markets.
29 September 2008 - David Jessop
Tucked away towards the end of the Economic Partnership Agreement (EPA) that will be signed shortly between the Caribbean and Europe is a section that deals with what are known as the institutional arrangements.
This seemingly dry legal text is in fact of considerable importance, not least because it will determine how the EPA is governed, who will benefit and how decisions will be made on its implementation. It will also determine the extent to which the private sector, Non Governmental bodies and others in civil society will be able to influence and monitor the direction of the agreement.
It therefore lies at the heart of whether the agreement can be made to operate to the benefit of the people of the region and will determine how much control the Caribbean has over its practical implementation and in theory the flow of associated development assistance.
Tucked away towards the end of the Economic Partnership Agreement (EPA) that will be signed shortly between the Caribbean and Europe is a section that deals with what are known as the institutional arrangements.
This seemingly dry legal text is in fact of considerable importance, not least because it will determine how the EPA is governed, who will benefit and how decisions will be made on its implementation. It will also determine the extent to which the private sector, Non Governmental bodies and others in civil society will be able to influence and monitor the direction of the agreement.
It therefore lies at the heart of whether the agreement can be made to operate to the benefit of the people of the region and will determine how much control the Caribbean has over its practical implementation and in theory the flow of associated development assistance.
22 September 2008 - David Jessop
Sometime on or around October 15 the Economic Partnership Agreement (EPA) between Europe and CARIFORUM will be signed in Barbados.
The decision to do so by thirteen of fifteen Caribbean heads of Government meeting in special session on September 10 follows weeks of public and private debate.
At the meeting Haiti said it was not ready while Guyana seemingly leaving itself isolated, suggested that on the basis of the outcome of a public consultation it would not sign. Despite this President Jagdeo appears to have left the door open to agreeing under duress if Europe, as appears likley, intends making Guyanese exports to Europe subject to its GSP tariff regime.
Sometime on or around October 15 the Economic Partnership Agreement (EPA) between Europe and CARIFORUM will be signed in Barbados.
The decision to do so by thirteen of fifteen Caribbean heads of Government meeting in special session on September 10 follows weeks of public and private debate.
At the meeting Haiti said it was not ready while Guyana seemingly leaving itself isolated, suggested that on the basis of the outcome of a public consultation it would not sign. Despite this President Jagdeo appears to have left the door open to agreeing under duress if Europe, as appears likley, intends making Guyanese exports to Europe subject to its GSP tariff regime.
DR does well
According to Caribbean Regional Negotiating Machinery (CRNM) Director General Henry Gil and regional observers alike the DR was extremely efficient in the EPA negotiating process. The country was a willing participant in the process and gave up many more concessions at key points during the negotiation process. Gil commented that the DR liberalized 5% of its national products, a figure matched only by Trinidad. Milagros Puello commented though the negotiation process was not “rosy” by any means the DR had the advantage of having a level of synergy between the public and private sector, which allowed the process to continue as smoothly as possible. Many consider this cooperation on the local level a strength of the DR. Puello, as well as Fernando Gonzalez, commented that the DR’s experience in negotiation previous trade agreements, including the DR-CAFTA, provided the groundwork for the nation to move through the process.
19 September 2008 - DR1 Daily News
19 September 2008 - DR1 Daily News
Easing fears on EPA
Caribbean Regional Negotiating Machinery (CRNM) Director General Henry Gil was in the DR today speaking on the much debated Economic Partnership Agreement between the European Union and Cariforum (the Dominican Republic and Caricom). Gil, a key figure in the negotiation process, highlighted the innovated nature of the agreement and detailed how criticisms towards the agreement have been unfounded. Gil 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 Gil, with this agreement the region got the best deal possible. 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). An example of increasing regional cooperation, the EU required that before the Caribbean could export a product to Europe that product must be offered the same treatment on the regional level. The region agreed, establishing regional preference, and because of this the Dominican Republic, which previously couldn't import/export certain products within the region, also increased its regional access. Another innovative result of the EPA has been the inclusion of developmental aid in this agreement. According to Jean Marc Ruiz of the EU Delegation to the DR, this developmental aspect is what differentiates the EPA from the DR-CAFTA and it is one of the few free trade agreements that has stipulated developmental funding within a free trade agreement. According to Gil the EPA has tackled issues like transparency, intellectual property, competition and free movement of people within the EU and the CAribbean. The ability to move “freely” stipulates that person can go to Europe and buy or sell services for temporary periods of up to 6 months. Gil explained that many wanted visa requirements waved and lauded that as a failure of the agreement, but he rebutted that in these times it is difficult to get visa requirements waved. Detailing some aspects of the agreement Gil explained that products like rice,, which will slowly be liberalized beginning in 2010, and sugar, which has a regional quota of 60,000 tons (30,000 of which goes to the DR) were carefully scrutinized. Other products like rum and bananas require special discussions and no timetable for those discussions have been set. 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. Gil explained that now there is a consolidated liberation schedule. Gil 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 graduate 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. The EU has also opened up 90% of its production sectors, which has never before seen in the free trade agreements. 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 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.
19 September 2008 - DR1 Daily News
19 September 2008 - DR1 Daily News
14 September 2008 - Rickey Singh - The Jaimaican Observer
Govts show contempt for civil society views.
Now that Guyana has chosen to stand alone in favour of signing a partial (goods only) Economic Partnership Agreement (EPA) with the European Union (EU), instead of the complete negotiated text, question is how will this development impact on relations among Community leaders and affect plans for the transformation of Caricom into a single economy, as envisaged for 2015?
Passion to embrace the signing of the full EPA as initialled last December was evident at last week's special Caricom Summit in Barbados from Prime Ministers Bruce Golding and Barbados' David Thompson's contention of "the best deal" the region could have secured, to President Bharrat Jagdeo's claim of an accord that "has some good features but also some horrendous provisions."
Govts show contempt for civil society views.
Now that Guyana has chosen to stand alone in favour of signing a partial (goods only) Economic Partnership Agreement (EPA) with the European Union (EU), instead of the complete negotiated text, question is how will this development impact on relations among Community leaders and affect plans for the transformation of Caricom into a single economy, as envisaged for 2015?
Passion to embrace the signing of the full EPA as initialled last December was evident at last week's special Caricom Summit in Barbados from Prime Ministers Bruce Golding and Barbados' David Thompson's contention of "the best deal" the region could have secured, to President Bharrat Jagdeo's claim of an accord that "has some good features but also some horrendous provisions."
12 September 2008 - The Nations News
Our Caribbean:
FOR the overwhelming majority – indeed 13 out of 15 – member states of the Caribbean group that negotiated a full Economic Partnership Agreement (EPA) with the European Union (EU), the proverbial die has been cast.
As emerged from Wednesday's special CARICOM Summit in Barbados, the 13 will sign by mid-next month, unconditionally, the text of the EPA as initialled by representatives of the EU and the CARIFORUM group (CARICOM plus Dominican Republic) last December.
Failure to strike a compromise – even to delay the signing date decision until after the outcome of the Sixth Summit Of The African, Caribbean And Pacific (ACP) Countries in Ghana, less than three weeks away – left Guyana standing alone with its position in favour of a partial ("trade in goods only") agreement, and Haiti holding out on reservations with some clauses.
Our Caribbean:
FOR the overwhelming majority – indeed 13 out of 15 – member states of the Caribbean group that negotiated a full Economic Partnership Agreement (EPA) with the European Union (EU), the proverbial die has been cast.
As emerged from Wednesday's special CARICOM Summit in Barbados, the 13 will sign by mid-next month, unconditionally, the text of the EPA as initialled by representatives of the EU and the CARIFORUM group (CARICOM plus Dominican Republic) last December.
Failure to strike a compromise – even to delay the signing date decision until after the outcome of the Sixth Summit Of The African, Caribbean And Pacific (ACP) Countries in Ghana, less than three weeks away – left Guyana standing alone with its position in favour of a partial ("trade in goods only") agreement, and Haiti holding out on reservations with some clauses.
12 September 2008 - Norman Girvan
The Cariforum Economic Partnership Agreement (EPA) was initialled last December under extreme pressure of time and the threat of imposition of punitive tariffs on Caribbean exports in European Union (EU) markets. In the past nine months this 1,000 plus- page agreement has been examined closely, and found wanting in several respects. Every effort needs to be made to fix the problematic features before the agreement is legally cast in stone.
There is an enormous pressure to sign. The argument is that further delay will jeopardise access to European money and European markets. But it would be a grave error to sign a disadvantageous agreement, legally binding and of indefinite duration, because of promises and threats.
Funding from the European Development Fund (EDF) is part of the Cotonou Partnership Agreement, which remains in force. The European Commission is on record as affirming that the EDF is not tied to signing an EPA. Neither is 'Aid for Trade'. And the latter so far remains an elusive promise, not a binding commitment that is part of the EPA.
The Cariforum Economic Partnership Agreement (EPA) was initialled last December under extreme pressure of time and the threat of imposition of punitive tariffs on Caribbean exports in European Union (EU) markets. In the past nine months this 1,000 plus- page agreement has been examined closely, and found wanting in several respects. Every effort needs to be made to fix the problematic features before the agreement is legally cast in stone.
There is an enormous pressure to sign. The argument is that further delay will jeopardise access to European money and European markets. But it would be a grave error to sign a disadvantageous agreement, legally binding and of indefinite duration, because of promises and threats.
Funding from the European Development Fund (EDF) is part of the Cotonou Partnership Agreement, which remains in force. The European Commission is on record as affirming that the EDF is not tied to signing an EPA. Neither is 'Aid for Trade'. And the latter so far remains an elusive promise, not a binding commitment that is part of the EPA.
11 September 2008 - Rickey Singh
BRIDGETOWN, Barbados - Thirteen of the 15 member countries of the CARIFORUM group - the Caribbean Community (Caricom) and the Dominican Republic - have agreed to sign off on the controversial Economic Partnership Agreement (EPA) concluded with the European Union.
Caricom leaders, at a special meeting held here yesterday to hammer out a common position on the EPA, agreed to formally sign the full agreement next month, despite not having Guyana and Haiti aboard.
Guyana stuck with its earlier decision to sign the "trade in goods only" segment of the agreement, while Haiti said it would not commit itself to a signing date at this time.
BRIDGETOWN, Barbados - Thirteen of the 15 member countries of the CARIFORUM group - the Caribbean Community (Caricom) and the Dominican Republic - have agreed to sign off on the controversial Economic Partnership Agreement (EPA) concluded with the European Union.
Caricom leaders, at a special meeting held here yesterday to hammer out a common position on the EPA, agreed to formally sign the full agreement next month, despite not having Guyana and Haiti aboard.
Guyana stuck with its earlier decision to sign the "trade in goods only" segment of the agreement, while Haiti said it would not commit itself to a signing date at this time.
10 September 2008 - The Jamaica Gleaner
Bouyed by parliamentary approval at home, Prime Minister Bruce Golding is expected to tell CARICOM colleagues at a special meeting in Bridgetown today that Jamaica will not back away from the new free trade pact with Europe, even as the debate rages among neighbouring islands on whether to sign the agreement.
Golding's office pointed to the substantial market that Europe represents in the release announcing the Barbados visit.
No mention was made in the statement of the disagreement that Jamaica has with Trinidad's timing on the latter's push for a political union with several OECS countries, but foreign relations sources say the issue will likely be raised - perhaps on the margins - of today's meeting.
Venting the issue
Indeed, the Barbados confab - a conference of heads of government - is the very forum Golding had hinted was needed to fully ventilate the issue and its wider implications for Caribbean integration.
Several signing dates for the Cariforum-EU Economic Partnership Agreement have, since July, been set and thrown out, as some Caribbean governments demand more time to consult with advisers and voters.
Jamaica, Dominican Republic, Trinidad, Belize and The Bahamas are reportedly onboard.
On Tuesday, Dominica also said it would sign despite opposition at home.
Guyana said it would agree only to a part of the pact.
St Lucia and Grenada still aren't ready.
They have another month and a half - the agreement must be signed by October 31 - to decide. The other option is to be treated as a GSP partner, which means competing on price and quality with other international traders.
Bouyed by parliamentary approval at home, Prime Minister Bruce Golding is expected to tell CARICOM colleagues at a special meeting in Bridgetown today that Jamaica will not back away from the new free trade pact with Europe, even as the debate rages among neighbouring islands on whether to sign the agreement.
Golding's office pointed to the substantial market that Europe represents in the release announcing the Barbados visit.
No mention was made in the statement of the disagreement that Jamaica has with Trinidad's timing on the latter's push for a political union with several OECS countries, but foreign relations sources say the issue will likely be raised - perhaps on the margins - of today's meeting.
Venting the issue
Indeed, the Barbados confab - a conference of heads of government - is the very forum Golding had hinted was needed to fully ventilate the issue and its wider implications for Caribbean integration.
Several signing dates for the Cariforum-EU Economic Partnership Agreement have, since July, been set and thrown out, as some Caribbean governments demand more time to consult with advisers and voters.
Jamaica, Dominican Republic, Trinidad, Belize and The Bahamas are reportedly onboard.
On Tuesday, Dominica also said it would sign despite opposition at home.
Guyana said it would agree only to a part of the pact.
St Lucia and Grenada still aren't ready.
They have another month and a half - the agreement must be signed by October 31 - to decide. The other option is to be treated as a GSP partner, which means competing on price and quality with other international traders.