Grenada working on EPA implementation

Grenada has been making some headway in implementing provisions under the Economic Partnership Agreement (EPA) between CARIFORUM and the EU, becoming one of eight CARIFORUM countries that have implemented a new schedule of tariffs in compliance with the 2011 deadline stipulated in the agreement.

Speaking on Monday at the opening ceremony of a Regional Media Workshop on the
CARIFORUM-EU Economic Partnership Agreement at The Grenadian by Rex Resorts, Minister of Finance, Planning, Economy, Energy and Co-operation, Nazim Burke, went on to outline other ways in which Grenada is moving to boost trade and take advantage of the EPA.

He revealed that there have been national consultations on trade in goods and trade-related issues, featuring both opportunities and obligations.

He noted, “Local individuals within our local community were afforded the opportunity to enhance their knowledge on the new regime governing trans-border supply of goods. The themes of rules of origin, duty free quotas, free access, tariff liberalisation and others were addressed during this event.”

Meanwhile, a private sector working group focusing on the advancement of the EPA and the enhancement of trade was established earlier this year.

“It provides a platform for concerns to be raised, information shared and strategies executed that would augment the productive and trading capacities of our local business entities,” said Minister Burke of the role of this working group.

Mr. Burke also pointed to improvements in the infrastructure that is integral to trade. He highlighted the Customs and Excise Department, which in April implemented AYSCUDA World and established a one-stop facility at Grenadian ports.

AYSCUDA World is a computerised Custom-management system, which enhances Port transactions and allows for online preparation and filing of entries for the clearance of goods at the Port.

“The accomplishments of our small island state are not limited to trade in goods and services,” reminded the Minister. “Our investment promotion agency has also recorded a huge success this year, ranking number 1 [by Global Investment Promotion Benchmarking 2012 Report, a new report by the World Bank Group] among 77 investment promotion institutions in African, Caribbean and Pacific countries.

“We are no doubt very pleased, yet humbled by this achievement as we continue to position Grenada as one of the prime investment destinations in the Caribbean,” he remarked.

He added, “While much has been accomplished, there is much more to be done. We remain deeply committed to the implementation process and we hope to see tangible benefits from this trade and development agreement before very long.”

The two-day workshop, which concluded on Tuesday, was hosted by the Caribbean Export Development Agency (Caribbean Export), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and the Grenada National EPA Implementation Unit (NEPAIU).

The workshop is supported in part by Caribbean Export, through the 10th European Development Fund (EDF) Regional Private Sector Development Programme (RPSDP). The workshop is also being financed by GIZ. Fund-ing has also come from the Caribbean Aid for Trade and Regional Integration Trust Fund (CARTFund). (YA)