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Last updated: 16 October, 2008 - Published 15:01 GMT
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Guyana to sign EPA later
President Jagdeo
President Jagdeo maintains an air of defiance against the EPA.
13 out of 15 Caricom nations have now signed the economic partnership trade and investment deal with Europe.

Haiti and Guyana did not sign.

The European Commission have indicated that Guyana is to sign at a later date.

Guyana’s President Bharrat Jagdeo said he was happy that his country got what he called “a substantial improvement” in the EPA.

Concessions?

He said he'd won a mandatory review every five years plus some concessions on the agreement.

He did not specify the concessions.

"I don't see how they can commit to doing this (review) every five years and then not do it", he said in Georgetown.

Guyana was not represented at Wednesday's signing of the EPA in Barbados.

Referring to the EU, President Jagdeo said, "You can't compel Europe to do anything. Even things that they've agreed to in the text of the agreement they may very well renege on.

"We don't have any guarantee on that. We've seen it in the Cotonou Agreement," he claimed.

(Eds note. The Cotonou Agreement preceded the EPA)

He also confirmed that Guyana will sign the EPA by the end of the month.

Mr Jagdeo also applauded the African members of the African, Caribbean, and Pacific group for holding out for a better deal.

Guyana has acknowledged that it needs to sign on to the EPA by the end of this month or face EU sanctions in the form of higher tariffs.

The EU angle

In a statement, The European Union said the wide-ranging trade deal is aimed at attracting investment, lowering import tariffs and reducing poverty in the region.

"The Economic Partnership Agreement is the first genuinely comprehensive North-South trade and development agreement in the global economy," the European Commission said in a statement.

It said, "It includes a package of measures to stimulate trade, investment and innovation, and to promote sustainable development, build a regional market among Caribbean countries and help eliminate poverty."

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14 October, 2008 | News
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