CARIFORUM chair praises relationship with European Union
BRIDGETOWN, Barbados, CMC – The chair of the Caribbean Forum (CARIFORUM), Chet Greene, Tuesday, said the partnership between the Organisation of African, Caribbean and Pacific States (OACPS) and the European Union (EU) remains very important to both sides, certainly to CARIFORUM.
“The EU has been and remains a reliable Caribbean development partner whose support is important in the region’s efforts towards its sustainable and inclusive growth and development,” said Greene, at the launch of the Caribbean-EU Partnership 2021-2027.
Greene, who is also Antigua and Barbuda’s Foreign Affairs, Immigration, and Trade Minister, said he was also speaking on behalf of all 16 CARIFORUM states “when I say how deeply appreciative the governments and peoples of the region have been to be beneficiaries of successive multi-annual aid programmes from the EU”.
He said for the new funding cycle 2021-2027 under the Neighbourhood, Development and International Cooperation Instrument (NDICI-Global Europe), there have been significant changes, “some not so palatable” which he said would be further discussed Wednesday at the EU-CARIFORUM Ministers meeting.
“However, as a true partner, the EU has specifically earmarked Euro 800 million (One Euro =US$1.29 cents) for the Caribbean. A dedicated window stipulated at Euro 208 million will address regional priority projects and programmes,” he said.
Greene said that the EU’s cooperation with the Caribbean over the next few years will seek to reinforce the Caribbean-EU partnership in three priority areas, namely green deal, economic resilience and trade as well as governance, security and human development
Greene said that the first partnership reflects the convergence of priorities of the two regions on green deal issues such as climate change, disaster management and green transition.
“CARIFORUM states are extremely susceptible to external shocks which have the effect of exacerbating existing human and social vulnerabilities. CARIFORUM states are particularly vulnerable to natural disasters, such as hurricanes which can erode the domestic capital stock, increase the costs of capital through high replacement rates, and ultimately force governments to resort to additional borrowing to aid recovery,” Greene said.
He told the ceremony that the projected impacts of global climate change on CARIFORUM states are expected to be devastating and that these impacts are expected to be exacerbated due to the limited adaptive capacity of the states.
He said with an increase in the quantity and intensity of natural disasters and with unsustainable production, management and consumption patterns and the generation of waste, support for green deal issues is timely.
Greene said regarding economic resilience and trade, the partnership reflects among other things, an area where both sides can take better advantage of the CARIFORUM-EU Economic Partnership Agreement (EPA).
“The region anticipates that through this partnership there will be renewed interest of EU international financial institutions (IFIs). We hope it will also bring to the region the EU private sector as well as EU member states that have a limited presence in CARIFORUM.
“It goes without saying that we also anticipate that the ground work will be further enhanced to facilitate CARIFORUM states meaningfully benefitting from the EPA, as contemplated when it was signed. The last review was not flattering,” Greene noted.
He said the CARIFORUM states have an intrinsic economic vulnerability defined by high public debts, limited fiscal space, small scale and fragmented markets, often geographic isolation and reliance on few sectors, exposed to all kinds of external shocks.
Greene said supporting sustainable growth and decent jobs, facilitating trade and promoting regional integration through this partnership is timely and must be promoted and ensured.
The CARIFORUM chair said that the third partnership aims to bridge the gap by providing support for certain governance, security and human development challenges.
He said Caribbean societies face common and intertwined societal challenges, such as high youth unemployment and the vulnerability to shocks such as the coronavirus (COVID-19) pandemic which pronounce social inequalities.
“We welcome support here as well. However, support to ensure safer, more inclusive and resilient societies must be driven by the needs of the CARIFORUM States and of the region. Our specific circumstances must be taken into account.
“The Caribbean Regional Multi-Annual Indicative Programme 2021-2027 adopted by the European Commission will undoubtedly help meet the challenges of Caribbean development. CARIFORUM is deeply appreciative of the EU’s continued support to the Region. Especially at this time as the relationship between the two regions is evolving.”
But Greene said that certain core principles should remain constant, making reference to the global aid effectiveness principles.
“We therefore look forward to effectively participating in project identification, design, implementation at the national level and the regional level through our coordinating centre, the CARIFORUM Directorate.
“The evolving relationship has been described as the more mature relationship. At the same time the asymmetries are without question. In that sense, now more than ever, CARIFORUM needs the EU’s continued support for our coordinating bodies and processes,” Greene added.