Be proactive!

Market access does not mean market penetration.

This distinction was made abundantly clear at a regional media training Workshop convened here recently with the aim of educating the media about the CARIFORUM-EU Economic Partnership Agreement (EPA). By the end of the two-day event, it was clear that it was a much needed intervention.

The perspectives and issues raised were myriad and at times as complex as the EPA itself. It is no doubt a major reason why nearly four years after the signing of the document by EU and CARIFORUM officials, several key deadlines have been missed and there is still a long way to go before businesses in the region start to reap the benefits of this comprehensive trade agreement en masse.

Another contributing factor was the onset of the current economic recession. Many of the EPA’s provisions require changes to the regulatory framework – a lengthy and costly exercise. In addition, even as the region attempts to broaden trade with Europe, we are still battling our own internal struggles, which we see played out in the regional headlines every so often. With intra-regional trade still bringing headaches even within an environment where countries share a common history and, for the most part, language, as well as a stated goal of market integration, it is no surprise that business persons may shy away from the seemingly daunting task of penetrating the vast EU market.

Caribbean Export, the German Development Agency (GIZ) and the National EPA Implementation Unit, the hosts of the workshop, are all agencies that are mandated with facilitating the implementation of the EPA and helping businesses develop products and services that can take advantage of the agreement. Having been on the frontlines of this process for some time, they are intimately aware of the roadblocks to the desired destination of a mature trading relationship between the CARIFORUM countries and the EU. Their reaching out to the media in the form of this workshop is an acknowledgement that the EPA is not truly understood by the average person. Subsequently, great emphasis was placed on the role of journalists as professional communicators to distil all the available information about the EPA into a format that is more easily digested.

We certainly agree that journalists do carry a professional and civic responsibility to do so. In our unique position as intermediaries between officials from a range of sectors and the ‘man on the street,’ we can facilitate information exchange in a way that will be invaluable to the process. But it is also our view that the support provided by development agencies and the media can only go so far. Trade agreements may be written in ‘legalese’, but they are executed in the straight talk of the business world and, in our opinion, being successful in business requires a proactive approach.

The support agencies are there, funding is available and there are any number of professionals who can be hired to advise on regulatory issues, market research and all the other information that helps businesses make shrewd decisions. Indeed, businesses should feel far from powerless; they and the associations that represent them can stage powerful lobbies to government, being a driving force behind updating regulations and policy frameworks that may be hindering expansion.

Remember, access is not penetration – the latter implies an aggressive and vigorous action. We recognise that there are limitations, but business owners must ask themselves whether they are exerting enough energy to tap into what the EPA can do for their companies.