The Caribbean region needs to recognise the financial security the Cotonou Agreement affords the region, Minister of Foreign Affairs Carl Greenidge contends.
Minister Greenidge told media in the Ministry of Foreign Affairs boardroom, Takuba Lodge, Georgetown on today that the Agreement with the European Union (EU) is “the largest source of concessional financing” to the region; however the region remains distracted by Brexit (Britain’s exit from the EU).
Minister Carl Greenidge
This is based on information disseminated by DPI/GINA which pointed out that the 2000 Cotonou Agreement. The Agreement is one that will come to an end in 2020 and is considered a comprehensive partnership agreement between the EU and African, Caribbean and Pacific (ACP) states which, among other things has a common goal of eradicating poverty.
Minister Greenidge noted that there is still confusion among Caribbean states on the benefits of Cotonou. “There is great confusion over what, where our own interests lie and even understanding the arrangements that we are party to,” Minister Greenidge said.
Guyana is doing its part to “strengthen our own trade capacity” Minister Greenidge pointed out. “The largest source of development funds to this region is Cotonou and yet we’ve spent more time talking about Brexit. When you think about it, it is ridiculous,”
While concerns are justified about the possible tariffs that products entering the British market may now attract, Minister Greenidge pointed out that the region has a “firm agreement” with the EU.
Earlier this month, President David Granger along with Minister Greenidge was part of the state delegation to the European Development Day (EDD) forum in Brussels, Belgium, where Guyana participated in the discussions on the future of the Cotonou Agreement.
The Minister noted however that the Caribbean Community (CARICOM) is still to make arrangements “to ensure that discussions take place and the level of analysis is raised so that the region can have a position” to represent when the ACP countries meet. The Minister noted that there is need for the matter to be treated with “urgency”.
Later this month, June 22-23, in Cancun, Mexico, the Caribbean Forum (CARIFORUM) Ministers will meet with the EU Commissioner for Development to be updated on the EU’s views on the type of agreement, regional enlargement and institutional arrangements in the process towards a renewed agreement, which will replace the ACP EU Cotonou Agreement which expires on February 29, 2020.