(CARICOM Secretariat, Turkeyen, Greater Georgetown, Guyana) Just days after the signalling of the launch of the CARICOM Single Market by the Chairman of the Caribbean Community (CARICOM), the Prime Minister of Trinidad and Tobago, Hon. Patrick Manning, CARICOM’s Council for Trade and Economic Development (COTED) will meet in Georgetown, Guyana to continue discussions on the full implementation of the CARICOM Single Market and Economy (CSME).
On 1 January 2006, Barbados, Belize, Guyana, Jamaica, Suriname and Trinidad and Tobago became the lead Member States in the launch of the Single Market, while the remaining participating CARICOM countries have signalled their intent to follow by 31 March, 2006. Member States are working towards establishing the Single Economy by 2008.
Ministers and other delegates attending the Twentieth Meeting COTED from 9-12 January, will be looking at the removal of any further restrictions on trade and a programme of support to Member States with the goal of an equitable distribution of the benefits under the CSME.
Other issues on the COTED agenda include a review of the progress in operationalising the Development Fund, which was established under the Revised Treaty to support Disadvantaged Countries, Regions and Sectors, as well as the status of development of other institutions relevant to the smooth operation of the Single Market, such as the regional Competition Commission, the Caribbean Food Health and Safety Agency and the Regional Accreditation Body.
Senior Officials will meet on the 9-10 with the Ministers convening on 12 January. The Council will analyse the performance of intra-regional trade as well as address a revised structure for the Common External Tariff (CET).
With the International Cricket Council Cricket World Cup 2007 now months away, the meeting will also discuss the implications for the customs divisions and the business community arising out of the event.
