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The Bahamas and the European Partnership Agreement (EPA)
5 July 2008
The Nassau Institute
The Bahamas has been 'negotiating' with the European Union, albeit as part of CARIFORUM (CRNM), with regard to signing offers for trade in both goods and services. On Tuesday, June 24, Raymond Winder, local accountant and Co-Chair of the Bahamas Trade Commission and Brian Moree, local attorney, shared their views at a forum, hosted by The Nassau Institute at the British Colonial Hilton hotel, to a sold out audience. When economic growth and development are the goals, few issues are more important than international trade. Free trade with other nations is the natural extension of the principles behind supporting free competitive markets for the local economy instead of a planned economy. When countries are small the issue becomes crucial. The more open to trade the economy of a small country is, the higher its standard of living. The more open to trade, the less dependent on government policies and the less volatile its growth. The Nassau Institute, with its main goal of promoting of the principles of freedom in all fields of human action, could not let the opportunity pass to promote an open discussion of the pros and cons of and EPA between The Bahamas and The European Union. Mr. Winder presented the background of the negotiations and Mr. Moree presented an alternative position. Peter Young, one of the Directors off the Nassau Institute, was the moderator for the evening. The following podcast of the evening is made available compliments of The Nassau Institute so you can weigh the discussion for yourself and inform your Member of Parliament accordingly. We hope you will agree that we have attained our goal. Click here to Download the Podcast. Click here to stream the podcast.
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Comments
Rick - 12 July 2008 07:02- EPA
- I would simply restate Mr. Tim Swanson's position from his recent article for the Ludwig von Mises Institute, titled How Long Does a Free-Trade Agreement Need to Be? ( http://www.mises.org/story/3019 )
He states:
"Perhaps the most onerous aspect of managed trade: it (un)intentionally outlaws competition. It only benefits the incumbents — their special interests — and prevents newcomers from entering the market. FTAs routinely erect trade barriers that stymie alternative, international, and even domestic competitors from participating under the new stipulations. It creates a privileged caste system that superficially appears to be noble, yet in practice disgraces the spirit of free markets."
"So the question remains, just how long should an all-encompassing, tariff-busting, labor-liberalizing FTA be?"
"How about 16 words?"
"Regulated trade between the individuals, companies, and institutions within our respective countries will be illegal henceforth."
"I am sure that creative essayists could synthesize the main idea even more concisely, but the point remains, current FTAs are bloated behemoths containing a slew of provisions that sully the spirit and message of the centuries-old anti-protectionist movement."
The real question should be is: Do we want free trade or goverenmnt managed trade?
G.Wirth - 12 July 2008 06:01- The Bahamas and the European Union EPA
- As a devil's advocate may I ask the following ?
What if the European Union had never offered the ACP group of countrys the EPA wouldn't these same folk who are criticising the EU for the terms of the EPA be making all kinds of noise - why are they (The EU) cutting us off ?
The EPA is the carry-over from the past Lome Trade Agreements and ofcourse before that the preferential tarriff regime between the United Kingdom and the Colonys.
What if the European Union had not offered The Bahamas an alternative del ?
Did they have to ? There is no obligation.
If Caricom or the Bahamas don't like the terms then don't sign .
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