Caribbean Export OUTLOOK 2016 - 2017

Pulse OF THE CARIBBEAN

interest in developing and promoting trade along the latter, because it can contribute to the export diversification of regional goods and services, boost export volumes and values, and expand the domesticmarket into a larger regional market, which can serve as the basis for developing export competitiveness.” PrimeMinisterChristienoted,however,thatthishas not been fully realised for a number a reasons: the perceptionthatourpartnersintheSoutharealsoour competitors;theregionproducesthesamegoodsand servicesand,therefore,erroneouslybelievethatthere are little or no opportunities for significant export trade amongst ourselves; and we perceive that our partnersintheSouthareafflictedbyproblemsthatwe ourselveshaveinrespectofstandards,quality,sanitary and phyto-sanitary (SPS) measures, while in other

number of CARICOMStates have signed bilateral partial scope agreements with Brazil, Guatemala and Panama. As it relates to our progress at the inter-regional level, CARIFORUM states have signed the EPA with the EU that provides the framework for investment, trade in goods and services between the two regions, and institutions like Caribbean Export, the Caribbean Regional Organisation for Standards and Quality (CROSQ), the Caribbean Competition, and the OECS Competitiveness Business Unit, have also been established to support export-led growth and to support private sector development and competitiveness.” As it relates to international trade, the socially committed politician sees Caribbean leaders continuing to play a pivotal role in shaping the

to improve public-private sector dialogue at the regional level. This will be improved further after the Caribbean Business Council (CBC) is operationalised. However, trade, investment and sectoral policies need to be better aligned. Institutional structures for production and export are below acceptable levels and the region needs to usher in a new era of commercial diplomacy that is more aggressive and strategic, with a heavy emphasis on attracting high impact investments into the region in areas such as high- valuemanufacturing, green energy and high-value services.” The outspoken statesman added that all member states need to be held accountable for implementing their various arrangements under the CARICOM Treaty. The various Councils already exist to provide oversight in this regard, such as the Council for Trade and Economic Development (COTED). Specific to trade performance, member states also need to revisit and implement aspects of the regional trade agenda, such as a common agricultural policy, a common industrial policy, and the pursuit of production integration in the Community. Prime Minister Christie further noted that the views of these enterprises were also represented at the Heads of Government level during regional trade policy negotiations and would also serve to facilitate the market entry process. He noted that, at the CARICOM level, the regional and national consultative processes which inform the development of regional trade policy, as well as the negotiating mandates and positions in external negotiations, allow for the full representation and participation of all stakeholders, including business operators in the SME sector. “COTED, which has responsibility for supervising and articulating the regional trade in goods policy and regime, has institutionalised a dialogue with the private sector and efforts are underway to establish the CBC as a regional private sector

instances transportation, distribution and payment arrangements are well establishedwithdeveloped countries,butnotwithour partners of the South. In sharing his thoughts on the state of competitiveness in the Caribbean, Prime Minister Christie believes that complementary

At the national level, a number of Caribbean countries have put legal and other policy instruments in place to provide incentives to support trade and investment in key sectors such as financial services, tourism, cultural industries, and to support the diversification of their economies.

donor support, such as the EDF, has assisted the region in taking advantage of existing and emerging trade opportunities. But creating an environment to facilitate global competitiveness is a work in progress at the national, regional, and inter-regional levels. “At the national level, a number of Caribbean countries have put legal and other policy instruments in place to provide incentives to support trade and investment in key sectors such as financial services, tourism, cultural industries, and to support the diversification of their economies. At the regional level, policy and legal instruments have been developed to improve the competitiveness of Caribbean countries and firms. These include the CSME and the OECS Economic Union. CARICOM members have also signed trade agreements with the Dominican Republic, Cuba, Costa Rica, Venezuela and Colombia. Additionally, a

dynamics of the region’s performance in this arena. Prime Minister Christie believes that regional Heads ofGovernment recognise the importance of trade to the performance of the economies of their countries, and have acted consistent with that. He added, however, that it must be recognised that success in international trade depends on several factors, many of which are not in the control of leaders. Recognising that market access arising from trade agreements does not necessarily lead to market penetration, Heads of Government, through their trade ministries, are ready to act in support of their export industries by creating the environment for facilitating increased competitive export production. “Some roles have been partially fulfilled. Recent interactions between CARICOM Heads of Government and the Council of Trade Ministers with the hierarchy of the Caribbean Association of Industry and Commerce (CAIC) have sought

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