Saint Lucian manufacturers were given a full update on developments relating to the CARIFORUM/EU Economic Partnership Agreement (EPA) when they met for their sixth annual general meeting earlier this month. Head of the OECS Trade Policy Unit Virginia Paul was one of the feature presenters at the meeting which was held at the Bay Gardens Inn.  Entitled “The impact of the Economic Partnership Agreement (EPA) on Saint Lucians and the OECS” Ms. Paul’s presentation focused on the ongoing EPA negotiations, decisions taken so far, how this would impact the OECS countries, as well as ongoing debates and discussions on the subject. Manufacturers were also apprised of the role of the OECS Secretariat’s Trade Policy Unit in providing assistance to member states in formulating a common trade policy in their relations with the EU.

Ms. Paul’s presentation was considered critical by manufacturers who wanted first hand information on a range of issues. These include how the EPA would affect their various areas of activity and production, whether negotiators would be able to meet the fast approaching deadline for finalizing the agreement, and the mechanisms in place by OECS governments to address the loss of revenue from tariffs once the EPA comes into force. In fact, one of the recurring questions put to Ms. Paul was whether OECS manufacturers as well as farmers could compete with imports from Europe, which on the agricultural side remain heavily subsidized.

The many questions and comments came as no surprise given the public’s heightened interest in the EPA negotiations. The fact that the manufacturers AGM was being held one day before the start of official meetings of CARIFORUM Heads of State/Government with EU Trade Commissioner Peter Mandelson and EU Development and Humanitarian Aid Commissioner Louis Michel in Montego Bay also added to the importance of the issues being discussed. That meeting was to review progress in the CARIFORUM-EU EPA negotiations and to engage with the EU Commissioners on the outstanding issues in the negotiations.

Throughout her presentation, and the question and answer segment, Ms. Paul emphasized that the CARIFORUM Negotiating team of which OECS member states are a part, is working very hard to ensure that the finalized EPA agreement is to the region’s advantage. The OECS for its part wants to ensure that this agreement has built-in flexibilities that take into account the different levels of development within the CARIFORUM region.

The EPA negotiations are the most critical item on the OECS’ trade agenda at this time.