The Cariforum Economic Partnership Agreement (EPA) was initialled last December under extreme pressure of time and the threat of imposition of punitive tariffs on Caribbeanexports in European Union (EU) markets. In the past nine months this 1,000 plus-page agreement has been examined closely, and found wanting in several respects. Every effort needs to be made to fix the problematic features before the agreement is legally cast in stone. There is an enormous pressure to sign. The argument is that further delay will jeopardise access to European money and European markets. But it would be a grave error to sign a disadvantageous agreement, legally binding and of indefinite duration, because of promises and threats.

Funding from the European Development Fund (EDF) is part of the Cotonou Partnership Agreement, which remains in force. The European Commission is on record as affirming that the EDF is not tied to signing an EPA. Neither is 'Aid for Trade'. And the latter so far remains an elusive promise, not a binding commitment that is part of the EPA. As for markets, recent statements by EU officials about an October 31 'deadline' for signing, after which tariffs will be imposed, should be seen as another transparent attempt to coerce Cariforum into signing on unfavourable terms. They are obviously aimed at influencing the outcome of the upcoming meeting of Caricom Heads on the EPA. The other 20 ACP countries that have initialled Interim EPAs have until the end of 2008, and possibly into 2009, to conclude negotiations. On what basis, therefore, could the EU deny market access to the Caribbean if it seeks the same?  (South Centre / South Bulletin Issue 23, pp. 12-13)