TTMA: EPA good, Fitun: EPA bad

Trade and Industry Minister Dr Lenny Saith yesterday represented this country when he and 15 representatives from other Caricom countries and the Dominican Republic accepted the EPA.

President of the Federation of Independent Trade Unions and NGOs (FITUN) David Abdullah said yesterday was a sad day in the history of the Caribbean in terms of economy development. FITUN was at the forefront of several protests against the EPA, claiming the agreement signalled “the death” for the majority of the Carribean’s economies.

Abdullah yesterday explained that by refusing the original EPA, Guyana was able to get the EU to amend the agreement so that it could be reviewed after the first five years. This move, he said, safeguarded the Caribbean from long term negative effects from the agreement.

“If the entire Caricom had taken a stand together, I have no doubt we would have been able to extract further amendment from the EU. And it really is an indictment on political leaders and technocrats who capitulated in the face of what was essentially economic terrorism by the EU who were threatening sanctions if Caricom did not sign on,” he said.

He added that with the just completed signing, CARIFORUM has lost the opportunity of waiting until an October 31 meeting between the African and Pacific Countries and the EU concerning the EPA which, he said, is likely to extract benefits in terms of a less onerous EPA.

The Trinidad and Tobago Manufacturing Association(TTMA) however, yesterday reiterated its support for the signing of the EPA.

TTMA president Karen De Montbrun via email yesterday said the TTMA successfully negotiated for opportunities which would benefit manufacturers and exporters.

These opportunities, she explained, include the ability to compete with the Europeans when “imports are meeting them on their doorsteps”.

“Also there are avenues to access assistance to help offset losses, for example loss of revenue and dislocations,” she wrote. Further, she continued, development aid is available to assist in capacity building of border agencies all in an effort to enhance competitiveness and productivity for exporters and manufacturers.

Approximately 13 percent of Trinidad’s “sensitive”production capabilities are excluded from competition emanating from the EU, she explained. However, at the same time, the TTMA was able to negotiate to have these markets remain open for TT’s exports into Europe.

DeMontbrun admitted that there were aspects of the EPA which were not in the best interests of all regional stakeholders. She wrote of the most favoured nation (MFN) principal, regional preference and rules. She quickly added however, if the opportunity presents itself to re-examine some of those outcomes, the TTMA would support such a measure.

De Montbrun encouraged manufacturers and exporters to familiarise themselves with the agreement, find out what are the gains to be derived, what are the costs and opportunities that would have to be foregone, and see how best they can make the arrangement work for them.