(CARICOM Secretariat, Turkeyen, Greater Georgetown, Guyana) The operation of the CARICOM Single Market and Economy (CSME) and the imminent establishment of the Competition Commission are among key agenda items of the Twenty-Fourth Meeting of the Council for Trade and Economic Development (COTED).
COTED meets on Thursday 15 November 2007 at Buddy’s International Hotel, Providence, in Guyana. In the absence of Grenada, Guyana will chair the meeting. On the same day, the Fourth Meeting of the CARIFORUM Council of Ministers–External Trade Negotiations will meet to consider the status of negotiations on the Economic Partnership Agreement (EPA). The EPA between African Caribbean and Pacific (ACP) States and the European Union is scheduled to begin functioning at the beginning of 2008.
COTED will consider the operation of the CARICOM Single Market (CSM) which was launched in January 2006. The Framework for the implementation of the Single Economy is to be in place by 2008. The COTED will focus on the financing of the Competition Commission and other issues relevant to its imminent inauguration. The Commission will have its headquarters in Suriname.
With regard to External Trade Relations, the COTED will consider the Status of the WTO’s Doha Development Agenda as well as the trade agreement between CARICOM and the Dominican Republic. CARICOM and the Dominican Republic, signed a Free Trade Agreement in 1998.
In addition, the meeting will consider the status of negotiations towards an enhanced trading arrangement between CARICOM and Canada. CARICOM Heads of Government and Canadian Prime Minister Mr. Stephen Harper, met in Barbados in July 2007, and agreed to launch negotiations in this regard. A meeting of CARICOM and Canadian Chief Negotiators was held in Jamaica in October 2007.
CARICOM-Central American trade relations will also be examined. In February 2007, CARICOM and Central American Ministers of Trade met in Belize and agreed to initiate negotiations to formalize trade relations among their countries. Since then, discussions to advance the process have been held and negotiations have been launched at the Ministerial level.
