Caribbean Export OUTLOOK 2016 - 2017

Pulse OF THE CARIBBEAN

We need to provide support for business-friendly policies and programmes, which can mainstream trade into sustainable development activities and programmes.

and CARIFORUM has not attained a level of diversification of exports. Furthermore, no monitoring system has been established and this hasaffectedtheextenttowhichthetwopartieshave beenabletoutiliseobjectivedatatotakethenecessary decisions, whichwould allow formore success with theAgreement.” CARIFORUM and the EU recently conducted a comprehensive review of the agreement, and their findings further support PrimeMinister Christie’s views on the matter. The review identified a number of challenges as limiting the ability of CARIFORUM firms to exploit opportunities under the EPA. For one, the conversion of market access offered by the EPA into meaningful market presence remains a major challenge for the private sector.Thisincludesthelimitedproductivecapacity and supply side constraints as well as the need for trade and investment promotion. Moreover, the

interface with regional policymakers. However, the onusisalsoonSMEstoorganisethemselvesandbuild capacity to contribute to the regional trade policy dialogue and negotiations.” Prime Minister Christie posited that in some ways, theglobalfinancialandeconomiccrisishasimpacted regionalgovernments’perceptionofcompetitionand trade.Hebelievesthatthegreatesteffecthasbeenon economic development and the Caribbean’s ability to take advantage of market access opportunities available under trade agreements. “Take the CARIFORUM-EU EPA for example. The region has not successfully maximised on opportunities under this Agreement for several reasons, chief among which is the fact that CARIFORUM exports to the EU are concentrated in the mineral and traditional commodity product groups. Further, trade in new sectors is limited

investment and trade in services provisions have not yet yielded the benefits originally envisaged. In particular, CARIFORUM service suppliers have faced problems in taking advantage of the commitmentsintheEPA,suchasthosepertaining to the temporary presence of natural persons for business purposes. The review also revealed a number of existing factors that limited trade betweenCARIFORUM States and the EU and its outermost regions, specifically the application of the Octroi de Mer in the outermost regions, SPSmeasures, aswell as technical requirements and voluntary standards; marketintelligenceandknowledgeof the business environment and culture; visa requirements; and limited availability or the high cost of air and maritime transportation.

Despite these challenges, the affable politician is

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