PSOJ's Position EC-CARIFORUM EPA
In a letter addressed to the Deputy Prime Minister and Minister of Foreign Affairs and Foreign Trade, The Hon. Dr. Kenneth Baugh dated October 17, 2007, the PSOJ stated that it wishes to recommend that the signing of the Economic Partnership Agreement (EPA) which will replace the trade chapters of the 2000 Cotonou Agreement that allow for preferential treatment to be offered to EU’s former colonies – African, the Caribbean & Pacific (ACP) – be deferred for at least 6 months until the critical outstanding issues are resolved.
The existing facility was granted a WTO waiver which expires December 2007. However, the EPA, which seeks to regulate the behaviour of political, aid and trade relations between the EU and CARIFORUM, reflects a new trade relationship and will not only be in conformity with WTO rules but will gradually bring to a closure the previous preferential, non-reciprocal trade relationship.
There is clearly a vast difference between the size and competitiveness of the EU and CARIFORUM markets. Given the fragility of CARIFORUM markets, the PSOJ believes that there are critical issues to be resolved before Jamaica and the rest of CARIFORUM can fully benefit from any inherent opportunities within the EPA. The PSOJ supports the promotion of equitable trade relations but stated that we must first build robust strategic trade alliances in order to achieve sustainable development for all CARIFORUM Member States. (read more)
Trade Policy Committee’s Seminar
President Mr. Christopher Zacca (left) greeting the Hon. Dr. Kenneth Baugh MP, Deputy Prime Minister and Minister of Foreign Affairs and Foreign Trade, one of the keynote speakers at a PSOJ Trade Seminar held September 27, 2007 in Kingston.
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The Committee in collaboration with the Small Businesses Association of Jamaica hosted a Trade Seminar under the theme “Globalisation and its impact on Jamaican and CARICOM Firms” on September 27, 2007. The seminar was chaired by TPC chairman, Earl Jarrett. The Honourable Dr. Kenneth Baugh MP, Deputy Prime Minister and Minister of Foreign Affairs and Foreign Trade, one of the keynote speakers, commended the PSOJ for its initiative. In addressing the Economic Partnership Agreement (EPA) negotiations, the Minister said that although the EPA will hopefully promote increased levels of Jamaican exports into Europe, it also allows for exports from the EC to Jamaica and other CARIFORUM States which is a concern of our negotiators. He said that Jamaica is already one of the most liberalised economies in the world and that we ought to be very conscious about how vulnerable we are in the face of strong imports from the developed world. (view Minister Baugh’s full speech)
From left to right : PSOJ President, Christopher Zacca, JEA President, Mrs. Majory Kennedy, Anti-Dumping & Subsidies Commission Executive Director, Ms. Andrea Marie Brown and First Secretary and Head of Economics, Trade, Politics and Information, Delegation of the European Commission to Jamaica, Mr. Carlo Pettinato at September 27, 2007 Trade Seminar.
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The other keynote speaker, Mr. Carlo Pettinato, First Secretary and Head of Economics, Trade, Politics and Information, Delegation of the European Commission to Jamaica said that government officials, negotiators of trade agreements sometimes lose sight of the fact that the agreements being negotiated are to be used by private actors. It is businesses who trade, not Governments. He said that “ Jamaica is a small economy with many small enterprises. Small enterprises can be very successful; they don't need to be big to compete”. From the EU perspective, he said that Italian SMEs, for example, are the backbone of the economy and the drivers of exports. Mr. Pettinato suggested that small businesses should focus on quality, niche products and markets. Jamaica is a relatively high cost economy; it cannot offer generic products at an attractive price to the international markets. (view Mr. Pettinato’s full speech)
From left to right : PSOJ Vice President, Mr. Earl Jarrett and President, Jamaica Trade & Investment, Mr. Robert Gregory
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The Panel Discussion that ensued with the theme “Globalisation: Can Small Businesses Compete?” was moderated by Anthony Gomes, Director of Jamaica Chamber of Commerce and panelists included several subject matter experts
The Seminar had over 180 participants representing a wide cross section of the business sector. The event was sponsored by Private Sector Development Programme, Jamaica National Building Society and Continental Baking Company Limited. The Seminar sought to build awareness amongst firms of the implications of current trade negotiations.
