Call to enact article 238 of Economic Partnership Agreement for regional trade

Wed, Oct 11th 2023, 09:19 AM

During the opening of Jamaica Manufacturers and Exporters Association's Trade Mission, Director of Trade and Industry Brickell Pinder called on regional business people to advocate for their governments to implement article 238 of the region's trade Economic Partnership Agreement with European Union (EU) states that would allow the same trade concession when trading between Cariforum (Caribbean Forum) countries.

Pinder, who gave remarks during the opening session of the trade mission, said The Bahamas has already stated its intent to activate article 238 in order to allow the ease of goods trading within the region.

"... That agreement not only establish a framework for trade between Cariforum countries and the EU, but article 238 provided a framework for trade within the (Caribbean) countries. And that regional preference has not been started," Rolle said.

"The Bahamas has indicated that it would extend that preference to other Cariforum states, but I think as business people in here, as we move towards integration, it's really important that we press our governments to implement article 238 of that trade agreement so the same preferences that we apply to the European Union, we also apply to each other."

Deputy Chairman of the Bahamas Trade Commission Senator Barry Griffin, who brought remarks at the opening of the trade mission, said there is a need for more Caribbean integration, regional trade and business.

Griffin was part of a trade mission to Jamaica that led to the development of the Jamaica trade mission to The Bahamas.

"Those of us throughout government and the private sector are taking up that clarion call to do what is necessary to facilitate this trade and business," said Griffin.

"With the advent of the COVID pandemic, the increasing cost of oil and gas, transportation and logistics, we all now see that this must be the way forward for small, vulnerable economies in an uncertain trading environment.

"We must trade closer to home and become less reliant on the outside world.

"We as Caribbean people, now more than ever, must be our brothers peoples and our brothers business partners. Caribbean integration, regional trade, and the promotion of Caribbean business as a whole must be what we base our future prosperity on."

The post Call to enact article 238 of Economic Partnership Agreement for regional trade appeared first on The Nassau Guardian.

The post Call to enact article 238 of Economic Partnership Agreement for regional trade appeared first on The Nassau Guardian.

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