EU 'betrayed' development goals with Caribbean trade pact: Oxfam

(BRUSSELS) - The European Union has "betrayed" its stated commitments to boost development with a new trade deal with Caribbean nations, non-governmental organisation Oxfam said Thursday.

"The European Union has betrayed its rhetoric of development and failed to deliver on the promise of a fair trade deal which puts the interests of developing countries first," said the head of Oxfam's Brussels office, Luis Morago.

The European Union and 13 Caribbean countries signed a trade deal on Wednesday aimed at guaranteeing the region's privileged access to Europe's markets.

The pact marks the first complete agreement with African, Caribbean and Pacific countries, which have had to renegotiate previous preferential regimes with the EU after they were rejected by the World Trade Organisation.

"The EU has insisted on opening up Caribbean countries to its own products, services and investors in exchange for maintaining access to European markets and has exerted undue pressure on countries that were reluctant to make such far-reaching commitments," Morago said.

"The EU should provide binding, additional assistance to support the Caribbean to adjust to and support its economic development," he added.

NGOs have long criticized the EU for its handling of negotiations for new trade pacts with ACP countries, which they say force Europe's former colonies to open up their fragile economies too much.

The European Parliament must ratify the new EU-Caribbean accord for it to take effect.

The rapporteur for the text in the assembly, Socialist David Martin, said the parliament would reject the deal if EU lawmakers found that it did not support development enough.

EU - Caribbean Economic Partnership Agreement - briefing