Dominica as a small island developing state has been told that more can be done to sufficiently benefit from the Economic Partnership Agreement- EPA.
The EPA was signed in October 2008 to create a free trade area between the European Union (EU) and the Forum of African, Caribbean and Pacific States (CARIFORUM).
Head of the EU Delegation to Barbados and the Eastern Caribbean Ambassador Valeriano Diaz, said while most Caribbean countries have not realized great benefits from the EPA, Dominica has been able to make some headway through duty free concessions on exports to Europe.
“The good thing about Dominica is that from day one they have been able to continue exporting to Europe duty free and quota free,” Diaz pointed out.
However he is recommending that Dominica do more to partner with developed countries in the area of tourism and training.
“It’s more about finding the ways on how the developed countries in Europe can exchange services without any barriers, that they can move around. That people from Dominica can go and be trained in these countries without any difficulties and the Economic Partnership Agreement provides for that,” Diaz argued.
Speaking on the wider Caribbean region, Ambassador Diaz noted that progress on the EPA has been slow.
“It has had a slow start because some of the Caribbean countries, in my opinion, have not had the opportunity to see the benefits because the export of goods has been limited,” he lamented.
The Ambassador emphasized, however, that the potential for Caribbean countries to sufficiently benefit from the EPA is huge.
“Some of the countries in the Caribbean have jumped into the opportunity and already they benefitted enormously from the agreement which by the way does not only cover goods but also investments and services,” Diaz said.
I am not sure that the EPA, as currently written, greatly benefits Dominica or any of the other CARIFORUM or ACP countries. Yet, with the WTO ruling against the trade agreements that existed prior to the EPA, the ACP countries might well have had no choice but to sign the agreement. In light of Ambassador Diaz’s comments, I have some questions. Back in February, we heard that Dominica expected to receive between 14 and 15.5 million Euros during 2012 and 2013 from the 190 million Euros allocated to the ACP countries through the BAM program. We were told then that the funding was intended to provide additional development assistance to help the countries involved adjust to new market conditions following the collapse of the preferential market access regime that existed pursuant to Lome and Cotonou. Has Dominica received any of these Euros yet? If so, to what use have we put the funds? And if we have not yet received the money, when shall we receive it? If any reader has some answers, please share them with us. Thanks.
Good questions, Mr. James. It would be good public dialogue if someone from the Ministry of Finance or the NAO provide some information on these issues. But be mindful that EU funds set aside for development and for occupational adjustment dont just arrive in our treasury; They are pledgd against “approved” projects. So if no project is submitted or if no project is approved, thosse funds are not disbursed. But be mindful also, that much EU funds are allocated for “budget stabilisation” i.e. for use by the State in solving budget gaps. The thing is however, the public almost never knows when EU funds are used for this purpose. So, while there is usually some fanfare when foreign monies are budgetted for Dominica, you almost never hear when and howw those monies are used.
The EPA implementation unit in Guyana is broke. They are depending on EU funds to tell us about the EPA and how we can benefit from it. If the Caribbean could not maximise the export opportunities to Eurpoe in the days of protection, is now we will be able to do it in a free-market environment? Market opportunities is one thing; a culture of competition, productivity and service xcellence is quite anotheer. And we are finding out about this quite slowly.
It is ok, they will export to China and Venezuela and continue to be trainned there! They like it so! God bless Dominica, only time will tell.
Grow up.
And how many times has Britain/EU/US let us down.
DA needs to think for itself irrespective of its size. First properly understand what it is/can produce/ing. Ensure it protects its products that are in their infancy stage. Produce and implement a market plan to sell in various markets. Government to provide directive and incentives to budding entreprenuers/manufacturer/designers
FOOD 4 THOUGHT