FTAA not an end in itself

Excerpts of an address by Honourable Kenneth Valley, Minister of Trade and Industry and Minister in the Ministry of Finance, at the opening of the 25th meeting of the FTAA (FTAA) Trade Negotiations Committee (TNC) which was held at the Hilton Trinidad in Port-of-Spain on Tuesday, September 30, 2003

‘As you meet to chart the course to 2005 I ask that you consider your responsibility and obligation to those citizens who depend on your wisdom and good judgment to represent their needs for a quality life. “While research has shown that those countries that have increased their level of integration into the global and regional economies and have implemented sound macro economic policies have been able to grow and expand and create better economies for their citizens, there is no doubt that in order to make this significant hemispheric initiative viable, we must protect the more vulnerable among us. “Beyond all the technical discussions, the fact is that trade negotiations are no longer simply the realm of the specialists. “Today, trade issues are at the heart of domestic politics and foreign policy. Thus, we must acknowledge the political and social nature of the process towards a hemispheric free trade area.  The certainty that we have a joint commitment and a set of common goals and objectives will help us to construct patiently, a vigorous consensus in all delicate matters. “A properly designed FTAA has the ability to reverse the negative aspects of our legacy and alleviate the disillusionment of those in the Americas who experience poverty. The FTAA is not an end in itself.  It must encourage the creation of wealth, the sharing of such wealth, and the participation of people. “As a Caribbean country, Trinidad and Tobago remains committed to the multilateral negotiating process and the long-term objective of establishing a fair and equitable trading system.  We must not allow the recent results at the multilateral level to impact the FTAA.  This may require the adoption of a simpler agenda over the next 16 months which encompasses equilibrium in the demands, ambitions, concerns and sensitiveness of all our countries.”

Importance of the Private Sector in Trade Negotiations

“Ladies and Gentlemen, one of the key factors for successful trade negotiations is the active involvement of the private sector.  The insights of those who struggle everyday with the realities of commerce are essential to map a feasible path towards integration and free trade.  I am convinced that the informed input and the ideas of the entrepreneurs from all of our countries must be an integral part of the effort to build a Free Trade Area of the Americas.  This is why we in CARICOM feel justified in seeking to have private sector members assist us in these negotiations, especially in light of the limited human resource capacity in our public sector. “The successful negotiation of the FTAA is important for Trinidad and Tobago.  We seek broad and full access to the markets of the more developed countries of the Hemisphere for our products and services. “Government is at present creating the institutional underpinning to benefit from favourable access to these markets.  Human resource development with emphases on education, health, housing, social services and security is the cornerstone of our policy initiative.  Additionally, we have engaged our national airline to provide the required air-links and have embarked on a programme to make Port-of-Spain a bilingual city in the shortest time possible. “However, the guiding principle that size and level of development must be taken into account in the negotiations is critical to our engagement. “For us, ‘special and differential treatment is the fulcrum that seeks to create a balance between the developed and developing countries of the hemisphere. “I therefore salute the decision to establish the Hemispheric Cooperation Programme. “Also, I urge the establishment of a Regional Integration Fund in order to reduce the asymmetries in the levels of development between countries in the hemisphere.”

Participation of Civil Society

“In closing, permit me to point to two major areas of particular interest to me. Firstly, I wish to refer to the public outreach on the FTAA.  An FTAA agreement that achieves, through an intelligent process of negotiations, the stated intentions of our Governments in the region, promises to be a major anchor for structural reforms in our countries and can create an umbrella environment conducive to more stability, growth and employment.  These goals are all that more important in light of the current uncertainties of the world economy and the severe difficulties that many of our countries are facing. “I am concerned by the lack of information and public understanding about the FTAA. (Much of public opinion in the Americas seems to range from total unfamiliarity and lack of knowledge of the FTAA to outright ignorance and thereby hostility.)  Now that we are approaching 2005, I think that effective public outreach is increasingly critical for a successful FTAA process.)  To do this we must consider the message and the mechanisms of dialogue to address all society’s anxieties and doubts.’