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Momodou
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 Posted - 01 Oct 2007 : 23:01:12
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Gambia To Suffer Revenue Loss Due To EPAs
By Bubacarr K. Sowe
Yusupha Kah, the Permanent Secretary at the Department of State for Trade, Industry and Employment, has indicated that studies have shown that The Gambia will suffer revenue loss due to the Economic Partnership Agreements being negotiated by the European Union (EU) and Africa, Caribbean and Pacific (ACP) countries.
Mr. Kah made this statement at a recent sensitisation workshop on EPAs for Parliamentarians held at the Atlantic Corinthia Hotel. He said: “Within the ECOWAS region, the need for The Gambia to maintain and strengthen its commitment to regional integration can only be greater than before as the region provides a more convenient and closer market than the EU. At the national level, studies have indicated that The Gambia will suffer revenue loss, which may have implications on social spending. As we approach the deadline, there are still issues to be addressed in relation to trade-related aspects, aid and regional integration”.
The Permanent Secretary said most West African States identify these issues as a great concern for the EPA’s negotiation process and these issues should be addressed in order for the region to benefit from the EPAs.
Mr. Kah said: “As a small economy, The Gambia would not want to be isolated in the process but rather to continue to participate actively to ensure that it addresses its concerns about EPA through the negotiation process. Through national consultations, we will continue to articulate issues of critical concern to our development partners within the framework of the EPA, and also to undertake necessary reforms to ensure that the Gambia reaps the full benefits of the EPA”.
The Permanent Secretary also said two studies were carried out in 2004 by the Commonwealth Secretariat and ECOWAS to assess the impact of the EPA on the Gambian economy. The objectives of these studies, according to Mr. Kah, were to facilitate the preparation of The Gambia for its effective participation in the EPA negotiations.
“It is therefore important to adequately reflect on the finding of the studies in terms of opportunities and challenges and to analyse the potential trade-offs between the envisaged costs and the economic and social gains that could be generated by the EPA,” Mr. Kah added.
Source: Foroyaa Newspaper Burning Issue
Issue No. 115/2007, 1 - 2 October, 2007
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