CARICOM heads should see the wisdom of Jagdeo’s thinking on the EPA

Sep 11, 2008 Letters

DEAR EDITOR,
The European Union (EU) countries have failed to keep their promises to the poor nations in terms of stepping up their amount of development aid.

The Organisation for Economic Cooperation and Development (OECD) indicated that the EU expended ?8.6 billion on development aid in 2007 and which was ?1.7 billion less that in 2006; this amount may very well be even smaller in 2009, given the economic uncertainties facing the world, such as the erratic world food and fuel prices, and the U.S. financial market mayhem.

And with respect to the Millennium Development Goals (MDGs), the EU was expected to make available 0.7% of their Gross National Income to development aid by 2015, but in 2006 they were only able to expend 0.38% on development aid, resulting in a short fall. We could eventually see a greater shortfall in 2009.

Failed promises from the EU and generally from the other rich nations, and a commitment on their part for the greater good of the world, are not characteristic features of their trade negotiations’ strategies and thrusts.

These core nations in the world economic system are primarily focused on securing their own vested interests to the disadvantage of the developing world.

And so there is an unequal playing field in most of the trade negotiations between the developed and the developing world.

And those with all the advantages of dominance ensure that they secure the best gains, gains that will sustain their exploitative capacity over weak nations.

The developing world ‘wins’ the ‘leftovers’. And in some cases, this scenario receives the label of a well-concluded trade deal, adding to the burden of poor nations.

Not so, anymore! Developing nations are now experiencing a reawakening and even moving to smell the coffee! For instance, the recently held Trade Ministers and Heads of Delegations meeting in Geneva which was aimed to reach completion stage for the Doha Development Agenda (DDA) of the World Trade Organisation (WTO) negotiations ended unsuccessfully.

The Doha trade negotiations collapsed for several reasons. The previous Doha rounds provided considerable benefits to the rich nations and the poor nations were expected to be the beneficiaries of this recently-concluded Round; this did not happen.

Two other reasons, among others, for the collapse of the Doha talks: members were still divided in agriculture on ‘overall trade-distorting domestic support’ for advanced nations; and developing nations still had to grapple for better conditions, and for more time to effect commitments on trade, debt, and technology transfer; in effect, the developing world sought special provisions, and the opportunity to use the special safeguard mechanisms potently; the rich nations did not concede these to the poor countries’ demands.

It was China and India that took a stand against the core world, causing the Doha talks to end in failure.
The Economic Partnership Agreement (EPA) between the EU and the Asian, Caribbean and Pacific (ACP) countries is still in the battle zone, with the ACP asking for more with little success. And a major stumbling block is the missing ‘development’ component in the Agreement.

Let’s hope more CARICOM Heads will see the wisdom of President Bharrat Jagdeo’s thinking on this EPA matter in talks in Barbados.
Prem Misir

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CARICOM heads should see the wisdom of Jagdeo’s thinking on the EPA

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