Globalization, Trade, and Economic Development: The CARIFORUM-EU Economic Partnership Agreement

This is the most in-depth study of the economic partnership between the European Union and the CARIFORUM countries, a group of fifteen small developing economies in the Caribbean. The CARIFORUM-EU Economic Partnership Agreement (EPA) is the first trade agreement of its kind, as it is a new type of WTO-compatible trade agreement between a group of developed countries and a group of developing countries. As a principal negotiator for CARIFORUM, Bernal's qualifications allow him to provide a unique perspective on the increasingly important topic of trade and economic development in the midst of globalization. Globalization, Trade, and Economic Development comprehensively explores the components of the EPA from all angles, explains how the agreement provides opportunities to strengthen and accelerate economic development, and outlines the policies which can allow the CARIFORUM countries to seize these opportunities. Bernal's explanation of the institutional arrangements for the conduct of the negotiations by CARIFORUM is invaluable to governments and regional organizations in developing countries for coordinating groups to advance common and joint positions in international negotiations.

Table of Contents:
1. Background and Context 2. Structure and Process of Negotiations 3. Regional Institutional Arrangements 4. Characteristics of Cariforum Economies 5. Cariform Development Objectives 6. Promotion of Economic Development 7. Governance and Re-calibration 8. Sustainable Implementation 9. Economic Development and the EPA Bibliography

About the Author :
Ambassador Dr. Richard Bernal is a professional economist with over 35 years of experience. Most recently he was Executive Director for the Caribbean (the Bahamas, Barbados, Guyana, Jamaica and Trinidad and Tobago) on the Board of directors of the Inter-American Development Bank in Washington, DC. He holds the degrees of B.Sc., MA, Ph.D. (Economics), and MIPP (International Public Policy).

Review :
"Essential for understanding how trade agreements between developed and developing countries can promote economic development in a rapidly globalising world." - Pascal Lamy, Director General, World Trade Organization "This is a book deserving of careful attention, both by professionals and the general public." - Sir Alister McIntyre, former Vice Chancellor, University of the West Indies "At this time when free trade agreements are proliferating, this detailed exposition by the Chief Negotiator for Caribbean countries on the negotiations for an Economic Partnership Agreement with Europe is a most valuable addition to the as-yet scant literature on regional trade agreements. Excellent in lucidity and analysis, this study offers many leads and lessons - how trade agreements could incorporate sustainable development objectives; how small developing countries could innovatively develop a mechanism for effective and balanced negotiations; how to positively reconcile controversial issues of imbalance and development needs with pressing WTO free trade policy thrusts; and the importance of appropriate institutional arrangement for managing and reviewing the Agreement." - Bishnodat Persaud, Former Director, Economic Affairs, Commonwealth Secretariat; Professor, University of the West Indies "This book shows exactly how a group of developing countries, acting collectively and with purpose, can effectively carve out a binding agreement with developed country partners (on a broad range of economic issues) that serves as an effective platform to enhance their capacity for growth and development in a highly competitive global economy. Dr. Bernal, as lead negotiator for CARIFORUM in creating the EPA, draws out the lessons of this experience with clarity and insight." - Donald J. Harris, Professor Emeritus of Economics, Stanford University, USA "In this insightful book, Ambassador Bernal presents a penetrating analysis of the conception, negotiation and ongoing implementation of a novel trade agreement between Caribbean countries and the European Union. Taking into account the vulnerability of small countries in today's world, Dr. Bernal explains how the centrality of sustainable development policy within the Economic Partnership Agreement makes it a model for progressive partnerships between developed and developing nations in the nascent post-Wesphalian global order." - Mary K. Perkins, Associate Professor, Howard University, USA "Globalization, Trade and Economic Development comprehensively explores the components of the EPA from all angles, explains how the agreement provides opportunities to strengthen and accelerate economic development and outlines the policies which can allow the CARIFORUM countries to seize these opportunities." - Jamaica Observer "The book is at one and the same time a manual for small states involved in international trade negotiations, a high-level primer on the problems that have faced and still face the Caribbean in relation to its economy and international trade negotiations; and a quiet treatise on why negotiations for freer trade matter, and are a path to economic growth. It is in every respect worth reading." - David Jessop, director of the Caribbean Council "In addition to being of interest to theorists of international relations and trade policy, this in-depth case study by a scholar-practitioner should serve as a valuable textbook for negotiators." - Richard Feinberg, Foreign Affairs