Call for region to urgently prepare for EPA

Prime Minister Bruce Golding also urged his European counterparts to consider the issue of differential treatment for the poorer countries of the region, under the EPA.

KINGSTON, Jamaica, May 22, 2008 – Jamaica’s Prime Minister Bruce Golding is calling on regional countries to move with greater urgency in preparation for the signing of the Economic Partnership Agreement (EPA) with the European Union (EU) in July.

He noted that because the provisions of the agreement cover all African, Caribbean and Pacific (ACP) states, countries in the region needed to move swiftly to ensure their readiness to capitalise on the opportunities presented under the new trade deal.

The EPA is to be signed by the EU as well as the Caribbean Forum (CARIFORUM), which is made up of the Caribbean Community (CARICOM) and the Dominican Republic, to replace the trade component of the Lomé Convention - a trade and aid agreement between the European Union (EU) and 71 ACP countries.

"As soon as the signing of the EPA takes place, the opportunity clock starts ticking. We have to get our act together so we can submit our proposals for financing but we have some work to do on the regional structure. In certain areas where we concluded agreement with the EU, we are yet to conclude our own internal arrangements,” Mr Golding said.

The Jamaica leader also urged his European counterparts to consider the issue of differential treatment for the poorer countries of the region, under the EPA.

“One of the urgent matters before us now has to do with regional preferences. Even within CARICOM, we recognise that some countries need special differential treatment because of their levels of development. This has been a source of concern because the EPA, while recognising the need to retain internal regional preferences, has set a very tight exit on it. I have said to them that a way has to be found to assist the poorer countries of the region. If they can't get differential treatment, they should get differential assistance,” he said.

Mr Golding asserted that if carefully managed, the implementation of the EPA can actually serve as a stimulus for the region to finally conclude some of the long-outstanding projects on its integration agenda.