Critical EU/CARIFORUM Barbados meet ends

FOREIGN TRADE MINISTER DR DENZIL DOUGLAS leaves Bridgetown today following his participation in the just-concluded two-day meeting to launch the new Caribbean/ European Community (EC) Partnership.

Dr Douglas was accompanied by his Permanent Secretary (PS) Jasmine Weeks.

In an exclusive interview with www.aroundtheregions.com,  Dr Douglas said the meeting is “critically important” and will address a number of economic partnership agreements.

Representatives from several countries of the European Union (EU) were expected to attend.

“It is new economic partnerships with the European Union, almost a renewal of the agreements that we have after the Lomé Conventions that was expired and the Economic Partnership Agreement (EPA) for the last few years and now we are renewing them,” Dr Douglas explained.

Countries of the African, Caribbean and Pacific (ACP) grouping received EUR 29M as support to fund national and regional indicative programmes; to finance intra-ACP and inter-regional cooperation involving many or all of the ACP States; to cover unforeseen needs and to mitigate adverse short-term effects of exogenous shocks, and to “finance the Investment Facility in accordance with the terms and conditions set out in Annex II to the ACP-EU Partnership Agreement”, an EU document explained.

The Lomé Convention was an agreement between the EU and the ACP countries in which the former provided aid and extended trade and tariff preferences to the 62 latter states.

Further, the just-concluded meeting, Douglas said, was expected to give ACP states an opportunity to consolidate their trade arrangements with the EU.

Permanent Secretary Weeks speaking to this media house explained that the meeting was convened to launch the new framework for EU CARIFORUM Cooperation which is outlined in the Caribbean Regional Multi -Annual Indicative Programme.

It was also billed to provide political guidance for CARIFORUM-EU Cooperation and future flagship programmes, Weeks explained.

“It is anticipated that the meeting of CARIFORUM Ministers and the EU Commissioner will engender lively and frank discussions with realistic outcomes.  For the Caribbean, the Post- Cotonou Agreement has enshrined objectives which address with specificity, the region and the intrinsic vulnerability of its small economies to external shocks,” PS Weeks said.

She said “some of these objectives include the promotion of trade and development and transitioning to a sustainable and diversified economy that supports decent jobs and growth.”

St Kitts and Nevis has been benefitting from its membership in the EU/CARIFORUM body. Week explained that several funding programmes financed by the EU will end this year and are expected to be replaced by others. She explained that several of the new programmes will feature significantly in Basseterre.

“St Kitts and Nevis as a CARIFORUM Member State continues to benefit from a number of funding programmes by the EU including support under the 11^th EDF (European Development Fund) which is set to expire by the end of 2022 and will be replaced by the Neigbourhood Development and International Cooperation Instrument (NDICI). Discussions on this new source development cooperation will feature prominently on the agenda,” PS Weeks said.

Spokesperson for CARIFORUM, Chet Greene, Antigua and Barbuda’s Minister of Trade, will present the Region’s arguments. However, if any country has issues it feels are not properly addressed by CARIFORUM, that state can present its own case.

“The partnership agreement between the European Union and the member states of the Organisation of the African, Caribbean and Pacific States (OACPS) Post-Cotonou Agreement will replace the current Cotonou compact as a source of development assistance to CARIFORUM,” according to the PS.

Financial benefits and enhancement of political relationships within the Region are foreseen under the new EU pact, Weeks anticipated.

“The Agreement has the overall objective of strengthening political partnerships to generate mutually beneficial outcomes”.