Government has acknowledged it is not happy with the pace of the regional thrust in dealing with urgent matters relating to the Economic Partnership Agreement (EPA).
Minister of Foreign?Affairs and Foreign?Trade Senator Maxine McClean made the comment yesterday at a luncheon hosted by the Barbados Chamber of Commerce and Industry (BCCI) at Hilton Barbados.
“Efforts are ongoing to operationalise the Economic Partnership Agreement.?Recognise, however, that this is taking place at two levels – regionally, CARICOM/CARIFORUM, and nationally.
“I must admit that we continue to be frustrated by the slow pace of regional efforts to resolve outstanding issues which limit our ability to realise the full benefits of the EPA,” she said.
McClean said that at home, however, the EPA Implementation and Coordination Unit in the Foreign Trade Division continued to engage in sensitisation, training and support of key stakeholders.
She added that Government was party to negotiations with the United States which would lead to the finalisation of a Trade and Investment Framework Agreement.
McClean said the ministry was committed to promoting initiatives to build and/or strengthen avenues and capacities for increased exports and investment.
She said the Council for Investment, Exports, Foreign Exchange and the Diaspora (CIEX) had been conceptualised by late Prime Minister David Thompson.
McClean said he had identified the need for a mechanism to identify and fast track the implementation of ideas to generate foreign exchange, increase exports and investment and engage Barbadians in the diaspora.
With respect to the United Kingdom, there has been a redefinition by way of the CARIFORUM-EU Economic Partnership Agreement.
“We are working hastily to bring this agreement into full legal effect. The EPA is a historic agreement and we must continue to work together to ensure that the potential benefits accrue,” she added.
