It is an honour for me to represent the Secretary-General of the Caribbean Community (CARICOM) at this the 2nd China-Caribbean Economic and Trade Cooperation Forum, following the very successful 1st forum which took place in Jamaica in February 2005. Regrettably, he was unable to be present at this Forum since he will be attending a meeting of our Heads of Government who will shortly be meeting in Trinidad and Tobago at a Special Summit to discuss health issues. He has, however, asked me to say that he is looking forward to accepting the gracious invitation of the Government of the People’s Republic of China to visit China next year.
Xiamen is truly a special city. It has greeted us, the delegations from the Caribbean Community, with the warmth and beauty of a coastal town which is so reflective of many of our Caribbean states. I have also noted the history of Xiamen including the fact that it was the port first used by Europeans in 1541 and that it was China’s main port in the 19th century for exporting tea — a strategic opening to the West, so important in that century and today. I am also informed that tourism is a major industry in Xiamen and that among Xiamen’s local products are sugarcane and seafoods such as fish, prawns and crabs. The similarities to our countries in the Caribbean abound and we could therefore not want for a more welcoming and hospitable atmosphere.
I must add my thanks to those of the speakers before me to the government and people of China for affording the Caribbean delegations here present this wonderful opportunity, not only to discuss economic and trade cooperation, but to meet the wonderful people of China and of this welcoming coastal town of Xiamen. This is the first visit for many of the CARICOM delegation. It will no doubt be a visit which will have lasting memories and beneficial rewards.
I note this forum and series of seminars and workshops have been titled: “Human Resource Development Cooperation Programmes in the framework of China Aid“. And this title is very apt when we look at the need in our Region to build capacity and strengthen our institutions with a view to implementing the strategies so vital for our economic and social development and for enhancing the quality of life of our people.
The fifteen Member States and five Associate Members which comprise the Caribbean Community are found in a strategic geographic location where North, Central and South America meet and only a few hours of direct flight from the African continent and a mere eight hours flight from Europe. Although we represent for the most part small land masses, the colonizers of old fought for our territories, leaving our countries with a cultural mix of the various European states. Added to this are the cultures of our indigenous peoples, as well as of those who were brought to our Region – some forcibly as slaves and indentured workers – Africans, east Indians and Chinese. Others flocked to our shores, fleeing oppression elsewhere, and drawn to the relative freedom existing in our countries; thus we have Jews and Arabs; while others saw economic opportunity and this brought a new flow of Chinese and east Indians. Our Region can therefore be said to be a glorious amalgam of most peoples of the world living in relative harmony.
CARICOM economies are characterised by small size, limited natural resources and their dependence on external trade. They are also at the mercy of natural disasters, such as hurricanes, which can lay waste an economy in a matter of hours as you have heard from previous speakers.
The CARICOM Single Market and Economy (CSME) represents a major part of the regional strategy to re-engineer our economic and trade relations with the rest of the world, while at the same time transforming our economies to achieve sustainable development. The single vision which provides the framework of shared objectives to guide policies for sustainable development has been expressed in six broad elements:
1) self-sustaining economic growth based on strong international competitiveness, innovation, productivity and flexibility of resource use;
2) a full-employment economy that provides a decent standard of living and quality of life for all citizens; elimination of poverty; and provision of adequate opportunities for young people, – constituting an alternative to emigration;
3) spatially equitable economic growth within the Community, having regard to the high growth potential of Member States with relatively low per capita incomes and large resources of under-utilised land and labour;
4) social equity, social justice, social cohesion and personal security;
5) environmental protection and ecological sustainability; and
6) democratic, transparent and participatory governance.
The CSME will establish a single economic space within which business and labour operate, in order to stimulate greater productive efficiency, higher levels of domestic and foreign investment, increased employment and growth of both intra-regional trade and extra-regional exports. The Single Market has been largely established. It consists of freedom of movement of goods, services, capital, business enterprise and skilled labour within an area bounded by a customs union. It was formally launched in January 2006 and with the ratification of legal instruments by twelve of the Region’s fifteen Member States (The Bahamas, Haiti and Montserrat are not yet on board) was officially established as the driving human development, economic and trade platform for those twelve countries on 30 June 2006.
The Caribbean Community is now looking forward to laying the framework next year for the establishment of the Single Economy by the year 2015. The Single Economy will be characterised by the harmonisation of policies, laws and regulations, enhanced monetary cooperation and common external economic policies.
An important provision in the Revised Treaty of Chaguaramas which governs the Caribbean Community is the establishment of a CARICOM Development Fund to assist disadvantaged regions. Countries and sectors. This Fund is critical in ensuring equitable development in the Community. It has been established with capitalization of 250 million US dollars of which 120 million has been pledged by CARICOM Member States. I am therefore happy to thank the Government of China on behalf of the Region for its pledge of support for the Fund and its active consideration of financing for it.
In order to render the investment environment more efficient, the Member States are considering proposals for a comprehensive Harmonised Investment Policy Framework that will include the adoption of two instruments, namely, a CARICOM Investment Code and a CARICOM Financial Services Agreement.
Indeed, work has advanced to the point that the Caribbean Investment Code will be ratified by participating governments in the near future. The Investment Code is intended to serve the purpose of marketing the CARICOM Region as a single investment location with a single policy space, rather than a geographical area of several different regimes or jurisdictions. The Code enhances transparency, fills information gaps, reduces transaction costs, and contributes to the primary objective of promoting and facilitating foreign investment flows. It takes into account developments at the various multilateral, pluri-lateral, regional and bilateral levels and seeks to ensure consistency with agreements being forged at the related negotiating fora and emerging best practice.
The CARICOM Financial Services Agreement addresses the need for efficiency in the regional cross border financial markets, including reducing barriers to cross border financial flows and enhancing regional competitiveness.
The CSME is not the only instrument towards regional integration and sustainable development, however. At a recent meeting of the Conference of Heads of Government of the Community, the Heads emphasised that Functional Cooperation was an integral part of the integration process and an indispensable complement to the CSME. Functional Cooperation is a process of sharing services and undertaking joint activities among CARICOM Member States and Associate Members in order to achieve synergies.
In light of the immense contribution that Functional Cooperation has made so far to regional integration, and the significant and tangible benefits that it has yielded to the people of the Region in the areas such as education, health, sport, culture, sustainable development and security, renewed priority has been placed on it in order to ensure that the benefits of the integration movement are distributed through the length and breadth of the Community. The priority areas identified for going forward are: health, human and social development, communications (including transportation, telecommunications and ICT), crime and security, the environment, energy and agriculture.
Functional Cooperation will be carried forward through the CARICOM Secretariat and regional institutions. Institutional strengthening and capacity building will therefore be critical as we move forward. In this context, we welcome the pledges made by China at the United Nations to support developing countries in the area of capacity building and human resource development in order to improve the quality of life of the people.
Madam Vice Premier, again I extend appreciation for the excellent arrangements that have been made for our visit and look forward to the 3rd Forum which will be held in one of the Member States of our the Region.
In closing, I wish to extend our good wishes for the successful hosting of the 29th Olympiad in 2008 and the International Exhibition in 2010.
Thank you.
