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7/2/06

Stabroek News: Guyana: The economic partnership between the Caribbean and Europe is in trouble-by David Jessop

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Guyana: The economic partnership between the Caribbean and Europe is in trouble-by David Jessop

The clock is ticking. By the early part of next year at the very latest, Europe and the Caribbean must reach agreement on some new form of trade arrangement acceptable to all of the members of the World Trade Organisation (WTO). Up to now only one option has been considered: an Economic Partnership Agreement (EPA) between the European Union and the Caribbean. Yet the signs are that this concept is in trouble. So much so that recent developments in Europe and the Caribbean make it hard to understand whether there is any longer common ground on some of the most basic aspects of a Caribbean EPA.

In the last two weeks there have been new developments that threaten to undercut the preparatory work undertaken by trade ministers and the Caribbean Regional Negotiating Machinery. So much so that there is a possibility that the third and detailed final phase of negotiations may stall.

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