National conference to discuss EPA

Officials will reportedly organize a national conference to discuss Suriname’s participation in the Economic Partnership Agreement (EPA) with the European Union (EU). Reports indicate that politicians and the business community do not share the same opinion regarding the trade agreement with the EU.

Andre Misiekaba, the permanent representative of Suriname at the negotiations, fears that Suriname will become economically dependent on the EU but several members of the local business community are eager to start tapping into the EPA. The national conference is aimed at reaching a clear position on the matter. The national conference will be organized by the Ministry of Trade, Industry and Tourism (HIT). 15 Surinamese companies which currently enjoy duty free access to the EU are looking forward to gaining access to more free market facilities. “The top export products of Suriname to the EU are gold, bananas, rice, fish, shrimp, lumber, wood products, alcoholic drinks, vegetables and fruit. All these products will be exported according to the basic EU rules if Suriname decides not to ratify the EPA. These rules can be stricter than the EPA rules. One can negotiate the EPA rules,” said Trade and Industry Minister Ferdinand Welzijn. MP Misiekaba pointed out that the free access to the Surinamese market for European companies will have consequences for the local production. He also pointed out that the EU could start making certain demands regarding the quality of Surinamese products which could be difficult to be met. This could be seen as a type of protectionism. It is not clear when the national conference will take place but sources indicate that officials have already started making plans.

The EU recently finalized its EPA with Japan. The EPA which was finalized on December 8 is set to remove the vast majority of the euro1 billion of duties paid annually by EU companies exporting to Japan, as well as a number of long-standing regulatory barriers, according to the commission. Building on the political agreement in principle reached during the EU-Japan Summit on July 6 of this year, negotiators from both sides have been tying up the last details in order to finish the legal text. This process is now finalized, a statement from the commission explained.

The EPA will also open up the Japanese market of 127 million consumers to key EU agricultural exports and will increase EU export opportunities in a range of other sectors.