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Tuesday, 03 March 2009

Guyana calls for freeze on EPA in light of global crisis

Guyana's President Bharrat Jagdeo believes there should be a delay in implementing the Economic Partnership Agreement (EPA) trade deal with Europe because of challenges created by the global financial crisis. Jagdeo told a gathering of African Caribbean Pacific Group of States and European Union parliamentarians here Wednesday that the Caribbean Community (Caricom) countries were in need of such a reprieve in order to source funds to diversify their economies. "If we have a moratorium on this we will be able to raise some of those funds," he said. "The investments we need in our economy now by opening it up are not coming because investors can't find money; investment has dried up in many of our regions. I'm sure you can do that over the course of the next two days, come up with a series of reasons why we should hold back on these (EPAs)", the Guyanese leader said.
Source: Jamaica Observer