Friday, April 12, 2024

Caution on Canadian trade deals

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The private sector has warned Barbados’ international trade negotiators to tread carefully when it comes to entering deals with Canada.
They fear the aggressive trade liberalization policy pushed by Canada in its free trade agreements would undermine key Barbadian businesses and industries and lead to a flood of cheap Canadian products in the local market.
Joel Richards, head of the Barbados Private Sector Trade Team (BPTT) told the WEEKEND NATION that while the Canadians had not placed on the negotiating table precisely what they wanted from the Caribbean, a precedent had already been set with its other trade agreements.
Richards said Canada had made it clear to the Caribbean it was not interested in a “trade and development agreement” but one in which it opened its market to regional goods and services and the region did likewise.
“At the moment I can’t say exactly what the Canadians are requesting, but what I can tell you from the evidence of what they have done with Costa Rica, Chile and Peru, the Canadian approach is to go for 100 per cent liberalization.”
Read the full story in today’s WEEKEND NATION.

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