Published: Friday September 12, 2008
Trade and Industry Minister Dr Lenny Saith says that if Caribbean Forum (Cariforum) member states, including Trinidad and Tobago, do not sign the Economic Partnership Agreement (EPA) with the European Union (EU) by the end of next month, they could lose the preferential access their goods now have in those overseas markets.
During yesterday's post-Cabinet news conference at the Diplomatic Centre, St Ann's, Saith said the existing preferential treatment arrangements were never in line with World Trade Organisation rules.
"That is why a deadline was set this year, that by October 31, we would have to move to the new arrangements. Once the agreement is signed and that should be signed in October, we now have an arrangement which would be registered with the WTO, which would satisfy everyone, that we are now trading under rules that are clear," Saith said.
He said this was one of the main reasons why the Cariforum countries, except for Guyana, have decided to sign the EPA by October 31, after a special meeting of the Caricom Heads of Government on the matter, in Barbados, on Wednesday.
Guyana's President, Bharat Jagdeo, has recommended that the Cariforum countries only agree to a "goods only" arrangement with the EU.
"Guyana runs the risk that if someone says Guyana hasn't signed the agreement and should not be getting any preferential benefits, even those that the EPA now allows, they could be taken to the World Trade Organisation and those benefits would be removed. So we wait and see," Saith said.
Wednesday's special meeting was held as some Caricom heads expressed some doubts about the EPA, before a planned signing ceremony in Barbados on September 2.
During a news conference on August 27, Prime Minister Patrick Manning said the time for talking was over and he was sending "an appropriate minister with a pen" to Wednesday's special meeting to sign it.
Source:
Juhel Browne
Trinidad Express Newspapers
http://www.trinidadexpress.com/index.pl/article_business?id=161374788
jbrowne@trinidadexpress.com
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