Latest update March 22nd, 2025 6:44 AM
Latest News
- “Guyana will not be intimidated, coerced” – President Ali tells Maduro
- PNCR maintains it will engage experts on ring-fencing only when in office – Elson Low
- Israel threatens annexation after expanding ground offensive in Gaza
- 𝐆𝐂𝐂𝐈 𝐞𝐥𝐞𝐜𝐭𝐬 𝐟𝐢𝐫𝐬𝐭 w𝐨𝐦𝐚𝐧 𝐏𝐫𝐞𝐬𝐢𝐝𝐞𝐧𝐭
- Teen killed in accident after pulling steering wheel during row with boyfriend
Time is running out, it’s take it or leave it – EU Negotiator
– Guyana to push for goods-only agreement, grace period to consider remaining aspects
From left: Karl-Friedrich Falkenburg, Deputy Director-General of Trade, European Commission; EU Ambassador to Guyana, Geert Heikens, and President Bharrat Jagdeo in deep discussion during a break at yesterday’s EPA consultations
Karl-Friedrich Falkenburg, Deputy Director-General of Trade at the European Commission, during yesterday’s consultations on the Economic Partnership Agreement (EPA), sought to impress upon those present, particularly President Bharrat Jagdeo, a key policy maker, that time was running out to sign the negotiated EPA, and that it was a take-or-leave-it offer and that Mr. Jagdeo and others would have to abide with the consequences of the decision they make.
The consequences illustrated in consultations were, if there was a refusal to sign the agreement, products being exported to the EU will have to face tariffs that would make it uncompetitive in the EU market.
On the other hand, for the region to sign the agreement, it would mean the loss of a significant amount of revenue, given that imported items that attracted a tariff would have to be liberalized.
Meanwhile, President Jagdeo concluded that, following the consultations with civil society in Guyana, he will be seeking to garner support from CARICOM Heads next Wednesday in Barbados, where he will be pushing for a goods-only agreement that has been extended to African countries, with a two-year grace period to commit to the comprehensive EPA.
The two-year grace period will be to comprehensively review and renegotiate aspects of the agreement, if possible.
During the consultations, it was touted that if Jagdeo was to garner enough support, there may be a possibility that the EU would have to review its position.
Further, according to Jagdeo, reciprocity would see the EU being able to bring its services to the region to compete with its local counterparts when, in return, the region did not have any service to export to Europe that could compete there.
“In trade union terms, that would be bargaining under duress.”
One contentious issue was the fact that European contractors could be bidding for projects on the local scene.
In his opening statement to the forum, Mr. Jagdeo also noted the fact that this region has had bad experience with the EU, with a prime example being the unilateral decision to cease the sugar protocol, which has resulted in the country losing millions annually.
He queried the reason why, given that this deal was indefinite, the region would not be allowed to consult properly on the deal.
Falkenburg rebutted this statement by saying that there have been previous consultations, but Mr. Jagdeo insisted that those consultations were on an offer, and not the concluded agreement, which was very extensive and complex.
He noted that there was not even a social impact assessment done to ascertain the minute consequences of the agreement before formally committing to it.
Jagdeo also reiterated his position that it was still unclear whether the EPA will take precedence over the Treaty of Chaguaramas in the event of a conflict.
A specific question was posed to Falkenburg, but up until the end of the day, no answer was forthcoming.
Eminent Caribbean trade negotiator Dr Clive Thomas warned that the EPA came with significant collateral damage and would have implications for future trade negotiations with other trading partners, who would seek to have the same deal, if not better.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Following one’s conscience rather than the crowd
Peeping Tom… Kaieteur News- “They’re certainly entitled to think that, and they’re entitled to full respect... more
If Guyana’s President Ali is the “Zelensky of the Caribbean”, who is the Putin?
Antigua and Barbuda’s Ambassador to the US and the OAS, Ronald Sanders By Sir Ronald Sanders Kaieteur News- In the latest... more
Weekend Cartoon
