| Caribbean
Community (CARICOM) Ministers of Trade participated
in the Eighteenth Meeting of the Council For Trade and
Economic Development (COTED), at the Le Meridian Pegasus
hotel, Georgetown, Guyana 4-7 January 2005, under the
chairmanship of Hon. Michael Jong Tjein Fa, Minister
of Trade and Industry of Suriname. The
meeting focused on a range of issues relating to the
establishment of the CARICOM Single Market and Economy
(CSME) and took a number of decisions aimed at promoting
the competitiveness of the Community in a liberalised
global trade environment.
At
the opening of the Meeting statements were presented
by Ambassador Lolita Applewahite, Deputy Secretary-General
of the Caribbean Community, and the Hon Michael P.
Jong Tjien Fa, Chairman of the COTED and Minister
of Trade and Industry, Suriname while the Hon Clement
Rohee, Minister of Foreign Trade and International
Cooperation, Guyana, welcomed the delegates.
In
setting the context for the Meeting, the CARICOM Deputy
Secretary-General said the Region had made progress
in a number of areas towards the implementation of
the CSME. Not withstanding this, she pointed out that
much work remained to be done, such as in the areas
of the removal of market restrictions and the harmonisation
of the Rules of Origin.
She
stressed that fears among citizens about the loss
of jobs held by nationals and concern that non-national
companies are increasingly occupying what was traditionally
held to be domestic markets are real. Notwithstanding
this, the Deputy Secretary-General said the Community
could not stop, reverse or even slow the process of
implementation. Rather, she emphasised that the Region
must examine the evidence regarding the impact on
the people of the measures implemented thus far and
take the appropriate policy and other actions to bring
relief to the affected and likely to be affected sections
of the Community.
The
Chairman of COTED stressed that globalisation is bringing
extreme pressures on small economies, thus leaving
the Region with no other choice but to integrate in
the shortest possible timeframe. He added that by
widening and deepening the integration process the
Region is creating a larger market, economics of scale
and many opportunities for the people of the Community.
The
Eighteenth COTED reviewed a range of issues pertaining
to the CSME readiness of Member States, with particular
attention on the programme for the removal of restrictions,
Sustainable Development and External Trade.
The COTED reviewed critical aspects of CSME implementation
and was updated on the state of readiness of Member
States to implement the CSME by the 31 December 2005
timeline. All Member States advised that they were
on track to meeting this deadline and it was agreed
that Member States would submit to the CARICOM Secretariat
updates on the implementation process.
In
the area of Sustainable Development the COTED was
informed of the status of countries to implement the
Ten Year Review of the Barbados Programme of Action
(BpoA+10), over which countries will deliberate at
the International Meeting in Mauritius 10-14 January
2005.
It
was noted that Member States of the Community will
be in attendance and will have as their blue print
the Caribbean Regional Report. The COTED was informed
that the CARICOM Secretariat with a team led by the
CARICOM Secretary-General; H.E Mr. Edwin Carrington
would coordinate the Region’s presence in Mauritius.
The
World Conference on Disaster Reduction to be held
in Kobe, Japan 18-22 January 2005 occupied the attention
of the Meeting. The COTED noted the negative impact
of natural disasters on a country’s economy
and in this regard drew attention to the devastation
across the Caribbean and Asia as a result of hurricanes
and earthquake in the former and the tsunami in the
latter. The COTED stressed the need to ensure synergy
and convergence between the Kobe and Mauritius processes.
The
COTED noted the inclusion of trade issues on the Kobe
agenda and stressed that the Region must participate
to the fullest, given the importance of trade to Sustainable
Development.
The
COTED was updated on the results of the meeting between
the European Union’s (EU) Commissioner for Trade
Mr. Peter Mandelson and CARICOM Trade Ministers at
which there was much discussion on sugar, bananas,
rum and rice.
In
the case of sugar the COTED noted remarks by the Commissioner
that the changes that are taking place in the EU sugar
quota system should be neutral in their impact on
exporting countries. It was also noted that the EU
official stressed that the EU’s support for
sugar exporters must come into play as early as possible
so as to anticipate rather than to cushion change.
The
COTED said the comments from the EU Commissioner were
encouraging, but stressed that the African Caribbean
and Pacific (ACP) countries will continue with their
lobbying as the challenges facing sugar producers
in light of the plan by the EU to drastically alter
the quota system for ACP countries remain.
Discussions
on bananas took place against the background of increasingly
complex issues including the threatened shift from
a quota to a tariff regime. Other issues affecting
Caribbean banana producers include the diminishing
access to the European market and developments in
technology which could enhance production and provide
some compensation for the exposure to natural disasters
and other environmentally imposed risks.
The
status of various bilateral Trade Agreements came
under review and the COTED has agreed to shortly determine
a timetable for concluding the Agreements.
The
Eighteenth COTED also considered issues relating to
the suspension of the Common External Tariff (CET)
on a number of products.
|