ISDS Case Map
CARICOM
A group of academics, while stopping short of labelling the trade pact an outright failure, are proposing that Cariforum renegotiate the Economic Partnership Agreement (EPA), saying it gives up too much to the Europeans in exchange for too little.
When Ministers of Caricom's Council for Finance and Planning (COFAP) meet in The Bahamas tomorrow, they are expected to consider the implications for this region of reservations expressed by Brazil at the World Trade Organisation (WTO) on provisions of the Economic Partnership Agreements (EPAs) being negotiated with the European Commission (EC).
Tomorrow, the Caribbean Community (Caricom) member states will assemble in Kingston to spend two days in a retreat on the conduct of the Economic Partnership Agreement (EPA) negotiations. This is hard to believe.
Central to many of the contentious planks that remain (especially 4-9) is the observation of Timothy Kondo (Alternatives to Neo-liberalism in Southern Africa) that the draft EPA, which formed the basis of negotiations for his region was prepared by the EU, (Third World Economics, October 1-15, 2007). This observation was reiterated more generally by Marc Maes: "The texts that the Commission has tabled have reflected the Commission's approach to global trade. They do not reflect the interests and needs of ACP countries." (ibid, p12)
Barbados' Prime Minister has expressed reservations about the Economic Partnership Agreement (EPA) which CARICOM will sign with Europe in April, and he says he's given instructions for his government to review the deal.
Schisms have begun to show in the united front CARIFORUM leaders showed after signing the Economic Partnership Agreement (EPA) with Europe before the December 31 deadline last year.
The Cariforum-EC Economic Partnership Agreement (EPA) is more than just a trade agreement: its scope embraces many subjects that have up to now been solely or mainly within national and regional jurisdiction. As a legally binding international instrument it embodies a far higher degree of supranational governance than that of Caricom. It will, inevitably, condition the scope and content of future agreements made between Caricom and other major trading partners and the region's stance in WTO negotiations.
The first full round of negotiations on a Canada/ CARICOM Free Trade Agreement is scheduled to get started next month.
The complexity of the negotiations of an Accord of Economic Association with the European Union will mobilize the Heads of State of the Caribbean Community (CARICOM) Friday, for the third time in the last two months.
The European Union and countries in the Caribbean failed to agree on a new trade and investment deal in two days of talks that ended on Friday. EU officials had expected the Caribbean to become the first of the ACP regions to agree to a new deal.
