New Perspectives on Globalization and Antiglobalization: Prospects for a New World Order? by Henry Veltmeyer

Author:Henry Veltmeyer [Veltmeyer, Henry]
Language: eng
Format: epub
Tags: Political Science, International Relations, General
ISBN: 9780754674115
Google: 6IKShw4irwYC
Goodreads: 6397080
Publisher: Routledge
Published: 2008-01-15T11:36:16+00:00

External Relations within the Caribbean

The majority of Caribbean countries are unique in the developing world in having enjoyed one-way preferential trading arrangements with both the EU under Lome and the US under the Caribbean Basin Initiative (CBI). Now both of these arrangements are being undercut by the requirements of multilateral, reciprocal trade liberalization under the terms of the WTO Treaty. Cuba of course lost its preferential trade arrangements with the USSR and other CMEA (Council for Mutual Economic Assistance) countries after 1989.

The impact of the WTO is both direct, stemming from the requirements of the WTO Treaty itself; and indirect, due to the requirements of “WTO compatibility” in the renegotiation of the Lome agreement and in the FTAA negotiations. In fact it is the latter that is posing the most immediate competitive challenges to Cariforum and CBI countries. An additional complicating factor in the negotiations is that Cariforum countries are allied with African and Pacific countries in the ACP Group under Lome and with Central American countries in the Small Country Group within the FTAA negotiations. There is also the issue of “cross-compatiblity” between the terms of the FTAA and post-Lome arrangements.

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