GEORGETOWN, Guyana, CMC – Economic and trade ministers from the Caribbean Community (CARICM) grouping began a meeting here on Monday with the CARICOM Secretary General, Dr. Carla Barnett, noting it is a “hectic time” for the 15-member regional integration grouping.
She told the 57th meeting of the Council for Trade and Economic Development (COTED) that many “consequential initiatives” are being advanced in addition to several initiatives related to running the CARICOM Single Market and Economy (CSME) that allows for the free movement of goods, services, skills, and labor across the region.
Barnett said that CARICOM is very active at the national, regional, and international levels in areas such as youth and gender, climate change, and peace and security, and we continue to broaden and deepen our engagements with international partners.
“These vital efforts will benefit the Community’s people in important ways. CARICOM will continue to be measured significantly by its fulfillment of the goals and objectives of the CSME. The COTED has a major role to play in this regard, and this is reflected by the agenda items for this COTED,” which is being chaired by Suriname’s Minister of Economic Affairs, Entrepreneurship and Technological Innovation, Rishma N. Kuldipsingh,
Barnett said that the regional leaders have set an ambitious goal on the critical issue of free movement, and the Guyana-based CARICOM Secretariat seeks to ensure that all the technical work necessary to support this goal is thoroughly and expeditiously undertaken.
She said under the chairmanship of the Barbados Ambassador to CARICOM, David Commissiong, the work of the Inter-Governmental Task Force (IGTF) is now underway, with a sharp focus on the free movement decision.
“A drafting group has already begun to prepare its work. We anticipate the full support of the 57th COTED for the tasks that lie ahead.”
Barnett said that concerning the critical Trade in Goods Regime, the Sectoral Working Groups have made good progress in reviewing and updating the Common External Tariff (CET) and Rules of Origin Regime.
“There has been solid leadership from member states, strong support from the Secretariat, and valuable contributions from stakeholders, especially the CARICOM Private Sector Organization Inc. (CPSO) and the West Indies Rum and Spirits Producers Association (WIRSPA).”
Barnett said her expectation for the COTED meeting is that it will give political impetus to the final stages of work required to strengthen these critical regimes.
“We must advance the harmonization of laws relating to business entities, macroeconomic policy coordination led by the Council for Finance and Planning (COFAP), our Community services, and industrial and agricultural policies.
“Critical to is finalizing the mergers and acquisitions policy. Member states gave positive reports on compliance at the 56th COTED. We anticipate that this will continue at this 57th COTED,” Barnett said, noting that compliance with the Revised Treaty of Chaguaramas (RTC), which governs the regional integration movement, and decisions of the regional leaders and Councils is critical to preserving the integrity of the CSME regimes and to affirm member states’ commitment to the RTC.
About external trade, Barnett noted that since the last COTED, there have been positive engagements with the United States through the reactivated Trade and Investment Council and with Canada in the Trade and Investment Dialogue that formed part of the CARICOM-Canada Summit.
She said specific tasks must be undertaken to complete the delayed negotiations with Colombia and that the meeting here should give clear direction on how this will be done.
Barnett said that at the multilateral level, CARICOM is gearing up for the 13th Ministerial Conference of the World Trade Organization (WTO) and must address the region’s interests and concerns.
She said ministers will be updated on the work underway and the outlook for this Ministerial, including negotiations on fisheries subsidies, which remains the major multilateral negotiating issue on the WTO agenda.
The first-ever woman to hold the post of CARICOM Secretary-General said that the regional grouping welcomes the announcement by the United Nations Conference on Trade and Development (UNCTAD) of its small island developing states (SIDS) strategy which she said “has been secured through solid leadership from CARICOM member states, led by Barbados, with support from the Secretariat.
“Work is underway to finalize a Memorandum of Understanding (MOU) between the Secretariat and UNCTAD and further strengthen CARICOM/UNCTAD collaboration, building on the momentum of the Bridgetown Covenant,” she added.
and then  grouping began a meeting here on Monday){kind=link}