Aug 21, 2017 Last Updated 4:31 AM, Aug 1, 2017

The private sector's full, safe and unhindered access to the CARICOM Single Market was important for the promotion and  sustainability of economic growth, Minister of Commerce, Trade and Industry of Suriname, the Hon. Ferdinand Welzijn, said on Thursday.

Delivering remarks at the opening of the Forty-Fourth Meeting of the Council for Trade and Economic Development (COTED) in Georgetown, Guyana, Minister Welzijn, who is chairing the Meeting, said that development depended on public-private partnership.

 "After all it is the private sector that trades and does business," he pointed out.

His remarks were made in the context of one the main  item for discussion at the Meeting - the CARICOM Single Market and Economy (CSME).  The Minister said that his background in the private sector provided a full understanding of the concerns and frustration of entrepreneurs who were facing trade difficulties within CARICOM.

He told delegates at the Meeting that the ways in which business was being conducted in the Region, had a "big impact" on the achievement of sustainable development and growth.

"Abiding by the principles, set out by the CSME, as well as full implementation, shall pave the way for a sustainable growth, as well as establish reliability for our business community," he reasoned. "Therefore I wish to stress the need for full, safe and unhindered access for our business society to the CARICOM Single Market.

Member States, he added, needed to consider what they wanted from the CSME and how to maintain it.

"We must not hinder each other to trade by using non tariff barriers", he warned.

CARICOM Secretary-General, Ambassador Irwin LaRocque, in his remarks to the opening session of the Meeting, also referred to the role of the private sector and the creation of the environment to facilitate its full involvement in the CSME.

"The private sector is asking us to do better. The people of the Region are asking us to do better. "You can send a clear signal of your determination to make that difference by reaching agreement on the Regional Policy for Micro, Small and Medium Enterprises. It is an opportunity to open the way for the small entrepreneur to benefit from our Single Market", the Secretary-General said, as he rallied the Council Meeting to "do better".

The COTED is responsible for the promotion of trade and economic development of our Community. In particular, it is required to oversee the development, operation and implementation of the CSME.

The Meeting concludes on Friday, 12 May, 2017.

 

While the Caribbean Community (CARICOM) has significantly advanced the CARICOM Single Market and Economy (CSME), “we must do better”, Ambassador Irwin LaRocque, Secretary-General said Thursday.

“Yes, we have done a lot, but we must do better.

“The private sector is asking us to do better.

“The people of the Region are asking us to do better”, the Secretary-General said.

He was at the time delivering remarks at the opening of the Forty-Fourth Meeting of the Council for Trade and Economic Development (COTED) at the Pegasus Hotel in Georgetown, Guyana. The COTED is responsible for the promotion of trade and economic development of CARICOM. In particular, it is required to oversee the development, operation and implementation of the CSME.

The two-day Meeting is focusing on the establishment of timelines for the implementation of aspects of the regional flagship programme,

#CARICOMOrg Trade Ministers begin two-day meeting in Guyana on Thursday https://t.co/58KDYXw04mpic.twitter.com/MXFDzUQX8M

— CARICOM (@CARICOMorg) May 10, 2017

 

The Secretary-General reminded Ministers of Trade and Heads of Delegation at the Meeting that CARICOM Heads of Government had committed to deepening regional economic integration through the CSME. Heads of government, in July 2016, had mandated a comprehensive review of the CSME. The review was done and was considered at the Intersessional Meeting of the Heads of Government held in Georgetown in February, 2017.

“The CSME is the foundation for spurring vibrant regional growth and development”, Ambassador LaRocque said, as he pointed to the emphasis that was being placed on the need for consolidation and further development of the CSME.

The Heads of Government have noted the significant programmes on implementation of legal and institutional measures and mechanisms to support the free movement of goods, services, skills and cross-border establishment of businesses, the Secretary-General highlighted in his remarks, but pointed out that they had concerns about non-compliance with their decisions.

Our leaders, however, expressed concern that some of their decisions had not been complied with. They lamented the fact that some of our Organs and Bodies have failed to meet, to consider critical aspects of the CSME. And items remain much too long on the agenda of the Councils. They also recognised the need for effective consultative mechanisms and addressing capacity constraints at the national level.

Their observations come against the backdrop of the slow pace in addressing some of the elements of the CSME. We have been discussing issues such as Government Procurement and basic contingent rights for a decade or more without concluding on the matter. And there are aspects of the free movement of skills regime and market access for specific products that require urgent decision”, Ambassador LaRocque said.

The Secretary-General that the Council itself is also hampered by non-compliance with its decisions, and warned that the failure to adhere to the rules of the integration movement poses a threat to the credibility of the Community.

The COTED Meeting will also discuss the Community’s external trade policy and strategy, and its preparation for Britain’s departure from the European Union.

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