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Robert answered on
Dec 25 2021
THE CARIFORUM-EU ECONOMIC PARTNERSHIP AGREEMENT 1
The CARIFORUM-EU Economic Partnership Agreement
(The role of Business Advocacy in the Negotiation process)
THE CARIFORUM-EU ECONOMIC PARTNERSHIP AGREEMENT 2
Executive Summary
In business scenario, negotiation is established across the world by considering trade
ules and regulations. Trade negotiation demonstrates or shows a well-organized process to
fulfill motive of economic growth and infrastructure establishment. However, there are present
knowledge of risks and opportunities also in trade negotiations that required strong advocacy
capacity and a platform for dialogue with the government that fosters good state-business
elations. In this, trade negotiation and business advocacy are more likely to ensure benefits from
any trade agreement between two parties. It is also widely acknowledged that public and private
sector organizations should be a shared responsibility with the government to make a successful
trade negotiation in the tourism industry in all economic decisions.
At the same time, Trade Agreements usually represents a prototype in the tourism
industry with a new style in the nature of the trade relationship between the EU and its
CRIFORUM states as trading partners. Additionally, EPA typically creates real and tangible
enefits in terms of the volume of trade, and economic prospects, as well as improvement in
living standards of the people. EPA also signifies in the poverty reduction in most of the time
that is important to give priority in the tourism industry in the provisions of the treaty. Now, the
case study would show how the private and public sectors in the Ba
ados interacted in the
tourism industry in order to ensure that the country was able to secure better market access. The
tourism service sector provides investors under the CARIFORUM-EU Economic Partnership
Agreement (EPA) that is the base of trade negotiation. This paper is important to known the
trade negotiation positions in the Ba
ados while started to develop tourism services with other
countries of the world.
THE CARIFORUM-EU ECONOMIC PARTNERSHIP AGREEMENT 3
1. Introduction
It is known that negotiation is an important aspect in the context of business environment
in order to start a new business and increase profits and growth from business operations in the
market at the global level. At the same time, it is also experienced that the negotiation for a good
elationship has a great impact when two or more companies or organizations, or government
come together for their specific purposes (Zwier, 2013). In this, negotiations generally seeks to
discover a strong common ground about the business and try to reach an agreement in the
context of setting a matter of mutual concern between two or more parties by discussing
associated with the business purpose.
Alternatively, there are some negotiation approaches that have the most important aspects
considered by the negotiation team for the benefits of the organization and related country. The
specialization in business sectors in order to research both the government negotiators attending
the negotiation session and the government's overall operations are the needs of time. Therefore,
the negotiation team should adopt the factual style according to the circumstances to know all the
facts related to the negotiation (Zwier, 2013). However, the main effective role of the negotiation
is generally established in trading environment. This is because of the big market to expand the
usiness operations successfully at the global level.
At this stage, trade negotiation is typically associated with the goal to reach towards an
agreement between two or more nations. In trade negotiation, it can be seen that a nation
generally tries to grab the possibility of a business environment to improve economic growth of
the country. In a successful trade negotiation, invested interest must be the part of making trade
agreement. This is because of looking towards the potentiality, while promoting economic
growth. It is also related to allow successful companies in order to expand their business markets
at the global level (Sevil & Tekçe, 2008). However, trade negotiation nations also try to protect
their economy and establish a safety environment. It is accepted that trade negotiations are quite
complex to reach towards final agreement because of ba
iers of different cultural conditions.
In this situation, an effective strategy is required to reduce the complexity of the trade
negotiations. Simultaneously, trade negotiation at the international level helps to create a
ackbone for almost every economy globally. Therefore, a strong economy of a country is based
on the companies either they are public or privates that do thrive businesses domestically and at
the international level. But, the ability of these companies to expand businesses into international
THE CARIFORUM-EU ECONOMIC PARTNERSHIP AGREEMENT 4
markets is very critical (Sevil & Tekçe, 2008). Although with the help of international trade rules
and regulations, trade negotiation can be possible and it provides to get the business expansion
opportunity successfully.
A successful trade negotiation in the international market, private sectors have the most
important role due to their advocacy. The private sector advocacy or business advocacy
influences to develop and implement effective public policies for the business profits. In this, the
support of ideas and creation of spirit are the important part of business advocacy to support and
engage the organizations to improve their economic conditions effectively and efficiently (Airey,
2015). A successful business advocacy has a great role in the trading scenario because of the
ideal position made by the public and private sector organizations that usually working together
in a spirit of effective partnership.
The role of business advocacy in the negotiation process can be seen as specifically
assisting business managers or organizations to position them in global market in order to grab
the new opportunities and make the favorable circumstances by coping with the challenges. In
most of the circumstances, business advocacy in the negotiation give strengths to the
organizations as increasing confidence towards engaging in business. It promotes organizations
egarding their interests in international trading, while engaging to improve financial growth
(Airey, 2015). In most of the situations, business advocacy in negotiation helps to empower
usiness managers or companies to be a credible partner of their governments in chasing of
eforms associated with the trade policies and regulation.
The role of private sectors in negotiation is very interesting in order to promote the
usiness advocacy effectively and efficiently in various industries. Private sectors generally
produce positive social and environmental outcomes that remains hotly contested in the
international negotiation process. Further, private sectors also deliver beneficial services by
addressing challenges international trade agreements to
ing economic benefits. Private sectors
dominate the government to increase power of entrepreneurship, and create innovation in the
international market by negotiation with the other organizations.
Now, in the tourism industry, negotiation has a great role to create competitive advantage
in the present scenario. It is known that tourism industry is the part of selling different types of
products and services desired by the people from an air ticket to the booking of a room in a hotel
(Airey, 2015). This industry has created a wide scope of businesses at the global level that is also
THE CARIFORUM-EU ECONOMIC PARTNERSHIP AGREEMENT 5
considered as whole
anches of business because of a
angement of products and services for
the customers when they are away from their home. In this industry, various stakeholders play
the most important role to make it successful, such as tourists, business travelers, tour and travel
agencies, etc.
Furthermore, the tourism industry also plays a greater role in economic development
while increasing infrastructure and use of the technologies. The development of tourist
destinations in the world attracts investors and other private sectors, such as hotel industry, real
estate or construction industry to make it more effective (Buckley, 2012). In this regard, the
tourist industry of the CARIFORUM and EU is very impressive in this world that provides
opportunities for the tourism service providers and investors to increase their financial conditions
through long-term business operations.
The CARIFORUM tourism industry is one of the biggest industries in the world that is
made including fourteen member states, such as Antigua and Ba
uda, Belize, and Bahamas, as
well as Ba
ados, and Belize, including Dominica, and Guyana,. The other important states of
the CARIFORUM can also be considered as Grenada, Haiti, and Jamaica, as well as St. Kitts and
Nevis, including the St. Lucia, and St. Vincent, as well as the Grenadines, and Suriname, etc.
The CARIFORUM tourism industry is known as the sustainable tourism, while the optimal
utilization of the natural, and cultural, as well as social and financial resources (Buckley, 2012).
This industry is very helpful for the development of the nation based on an equitable and self
sustaining level that help to furnish a specific visitor experience for the people. This tourism
industry has provided an improved quality of life of the tourists that has possible due to
partnerships among private sectors, and government, as well as communities.
On the basis of statistical data, there were around 17.1 million of the total tourism a
ivals
in the year 2003 in the CARIFORUM tourism industry. This was positive result from the year
2001 with 6.2% growth rate. The USA is the most important market of origin for the
CARIFORUM tourism industry based on visitor a
ivals followed by European countries. The
main success of this tourism industry is based on its region and various types of tourism products
development with specific control or emphasis on its natural assets (Mo
ison, 2013). This
tourism industry has developed various partnerships in order to take the competitive advantage in
the present scenario. There is very effective trade negotiation for the local stakeholders,
THE CARIFORUM-EU ECONOMIC PARTNERSHIP AGREEMENT 6
including trade negotiation processes with WTO, and FTAA, as well as EPA, etc. towards the
sustainable tourism development.
On the other side, EU tourism industry has a substantial economic activity in the world.
This tourism industry can be seen as highly dominated industry by the small and medium sized
organizations. Further, the EU tourism industry is also known as the important source of income
and improvement in the employment generation specifically in the rural areas. The registered
global accommodation capacity in the EU is assumed as one third of the tourism industry in
which one out of the every three tourists is of European nationality in the world (Mo
ison,
2013). Apart from this, the EU tourism industry fruitfully generates huge foreign revenue that
contributes in the development of the EU GDP significantly. The contribution of tourism
industry is more than 5% of the total EU union GDP. At this stage, the tourism industry of the
EU holds a significant position in adding towards its economy in the form of revenue
improvement and development of the region, including sustainable growth of the country.
Now, this paper is associated with analysis of a case of role of business advocacy in
Cari
ean and European Union EPA negotiation on tourism industry. Tourism industry that is an
essential part of economic growth of a country has been considered in this case in terms of
Ba
ados that is a member of CARIFORUM. This paper would also describe public and private
collaboration while preparing negotiating positions in the context of...