Nicaragua asks for money to compensate for free trade
From the AP, story available on bilaterals.org, DR-CAFTA member Nicaragua asks for money to compensate for damage by free trade agreements:
MANAGUA, Nicaragua: President Daniel Ortega has asked the United States and the European Union to set up “compensation funds” to offset the effects of free trade and globalization on poorer nations like Nicaragua.
Ortega said Wednesday that he had broached the idea with representatives of the EU - with which Nicaraguan is discussing a possible trade deal - and the United States, which along with Nicaragua is part of the Central American Free Trade Agreement.
“We have explained to the Europeans that if there is no compensation fund, the association (agreement) would have no future,” Ortega told a meeting of businesspeople.
Could this be an influence of Nicaragua’s recent accession into ALBA - the Bolivarian Alternative for the Americas - that Chavez and Morales started?
In the rest of the article, Ortega argues for a development plan similar to that used by the EU for new member states in order to get their infrastructure up to par with the rest of the Union.
