MONTEGO BAY, Jamaica – European Commissioner for Development and Humanitarian Aid, Mr. Louis Michel stressed that it was up to the Caribbean region to arrive at a consensus on the priorities and particularly on the use of the regional funds available from the European Union.
Mr. Michel was addressing the two-day Special Meeting of Heads of State and Government of CARIFORUM, a group comprising of Caribbean countries that are signatories to the African Caribbean and Pacific Group (ACP)-EU Cotonou Partnership Agreement in Montego Bay, Jamaica on Thursday evening, October 4. The meeting ended on Friday, October 5.
Mr. Michel said “massive assistance will be made available, but it is also crucial that we plan together the optimal use of these resources to best address the identified challenges and in accordance with the real priorities.”
The meeting between CARIFORUM Heads of State/Government and Mr Michel and his colleague the Commissioner for Trade Mr Peter Mandelson has been called to try and resolve issues which could delay the completion of the negotiations for an Economic Partnership Agreement (EPA) in keeping with an agreed schedule. Previously, exports from Caribbean and other ACP countries have enjoyed non-reciprocal preferential access into the European Union under successive Lomé Conventions and the current Cotonou Partnership Agreement.
The non-reciprocal arrangements come to an end on 31 December this year.
Mr. Michel said he was convinced that a structure such as a regional development fund had a lot of merit as a channel of funding citing rapidity, additionality (through the support of other donors), ownership of the region on the best use of the funds and flexibility as key elements in the Fund’s favor. The Caribbean Community (CARICOM) has established a Regional Development Fund under the Revised Treaty of Chaguaramas to assist countries, regions and sectors disadvantaged by the operations of the CARICOM Single Market and Economy (CSME). Fourteen CARICOM Member States and the Dominican Republic are members of CARIFORUM. Montserrat is the exception among the CARICOM Member States.
Mr. Michel assured Caribbean leaders that there would be additional funding for the EPA process apart from what was already available under the existing European Development Fund arrangements with the Region.
“It is certain that there will be funding coming from the Member States of the EU. Before coming to Montego Bay, I made contact with the Ministers of several Member States to ask them about their intentions regarding the funding of the Caribbean EPA process. They have confirmed to me that they fully share my thinking that Europe needs to ensure that all the ACP regions benefit equitably from this additional aid and that they would contribute,” Mr. Michel said.
The Commissioner added that other institutions of the European Union would support the EPA process including the European Investment Bank (EIB) whose President, Mr. Michel said, had discussed with him the continuation and reinforcement of the EIB’s activities in the Caribbean.
