ISDS Case Map
CARICOM
Negotiations for a new trade agreement between the Caribbean and Canada should start in October.
Prime Minister Baldwin Spencer indicated that there are still lingering questions over whether Caricom countries will all sign on to the European Union-Cariforum Economic Partnership Agreement (EPA) next month, though he has maintained his personal support for the idea of moving forward with the agreement.
A former chief negotiator for the region said it is not too late for Caribbean Community (Caricom) countries to pull out of the Economic Partnership Agreement (EPA) with Europe.
The growth of relations between several Caricom states and the Venezuelan-promoted
ALBA and Petrocaribe initiatives is one of the most significant recent developments in
regional affairs. An immediate issue that has arisen is whether membership of ALBA
might conflict with the obligations of membership of Caricom itself. There are also larger
issues of a strategic nature for Caricom.
While the majority of Caricom governments have signalled readiness to sign the EPA, reservations remain strong enough. Meanwhile, conflicting signals keep coming out of Brussels.
The question must now be asked, just how effective is Caricom, and does it serve any useful purpose? This has proven to be a watershed year for the regional body coming less than two years after the Caribbean Single Market and Economy (CSME), prevailing rampant food price, high energy cost and uncontrollable crime, all afflicting the region. Has Caricom address these issues effectively?
Caricom countries remain divided on the issue of the CARIFORUM-European Union Economic Partnership Agreement (EPA).
We are told that the fundamental principles and objectives of the Economic Partnership Agreement between the European Union and CARIFORUM states are defined by the Cotonou Agreement. We are advised that this agreement seeks to create sustainable development of the states, their smooth and gradual integration in the world market, and eradication of poverty.
Even as the FTAA cools on the back-burner and Venezuela President Hugo Chavez pitches ALBA as a viable trade alternative, there are concerns that ALBA may not suit Trinidad and Tobago's palette.
With the signing of the Economic Partnership Agreement (EPA) scheduled for July this year between CARICOM states, the Dominican Republic and the European Union (EU), several services within the local maritime sector could see changes taking place when the Agreement takes effect.
