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GUE/NGL
15 OCTOBER 2008
Today, the Economic Partnership Agreement between the European Union and 15 Caribbean countries represented under CARIFORUM is to be signed in Bridgetown, Barbados. If the agreement is signed it will be the first full EPA in place.
Stepping stone EPAs have been signed between the EU and individual countries, hence no regional EPAs are existent yet. During the last couple of days there have been several rumors concerning whether or not Guyana and Haiti will sign the agreement. The fact that Haiti is considering not to sign, does not come as a surprise, and does not form such a dilemma, as Haiti still falls under the “everything but arms” scheme. This scheme grants duty-free and quota-free access to all products except arms from the 49 least developed countries. Guyana however is a different story, the country does not have any special agreements that it falls under, and not signing the EPA could have serious implications regarding its trade position. Several officials including president Jagdeo of Guyana have expressed their concerns about the EPA and its development dimension, as it is doubtful whether trade can be used as an instrument to lift people out of poverty. Other concerns expressed by Guyana’s Ambassador to Brussels; Patrick Gomes is the “services” component of the EPA under which Guyana would have to deal with unbearable competition and also the MFN clause, which is to be included. Today Guyana has stated to remain hopeful that these issues can be addressed giving effect to a true Partnership Agreement where trade is indeed an instrument of development. Whether or not Guyana will actually sign the EPA today and what any further implications will be has to a awaited, until there is more news from Barbados.