Caribbean Export OUTLOOK 2016

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

instances transportation,

distribution and payment

arrangements are well

establishedwithdeveloped

countries,butnotwithour

partners of the South.

In sharing his thoughts

the

state

competitiveness in

the Caribbean, Prime

Minister Christie believes

that complementary

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

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

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

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

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.

Pulse OF THE CARIBBEAN