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Caribbean wants EU trade deal this year-negotiator

26 Feb 2007 19:54:41 GMT
Source: Reuters

BRUSSELS, Feb 26 (Reuters) - Caribbean countries want to clinch a new trade and investment deal with the European Union this year, breaking ranks with those African nations which are seeking a delay, a Caribbean trade negotiator said on Monday.

"We want to conclude this year for the simple reason that our interest in the EPA (Economic Partnership Agreements) is to secure current market access and improve on it," said Junior Lodge, a Brussels-based negotiator for Caribbean countries.

"The risk (associated with) a delay is too strong," he said as negotiators from the Africa, Caribbean and Pacific (ACP) group of mostly former European colonies gathered in Brussels for negotiations this week with the European Commission.

The European Union's executive Commission says the negotiations must be wrapped up by Dec. 31 2007, the expiry date of a waiver from the World Trade Organisation for the EU's existing preferential trade deals with ACP countries.

Last week, Benin's trade minister said Africa was standing by a demand for a delay until 2010 to allow time to negotiate key provisions in the EPAs and allay concerns about opening up their economies to powerful European competition.

EU Trade Commissioner Peter Mandelson has said the deals will help diversify the economies of ACP countries, making them less dependent on shrinking exports to the EU.

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Last updated:Mon Feb 26 19:55:59 2007