Secretary General of the CARICOM, H.E. Irwin La Rocque, Deputy Secretary General of the CARICOM, H. E. Manorma Soeknandan, Honourable Ministers, Head of Delegations, Heads and Representatives of Regional Institutions, Delegates, Members of the Press, Ladies and Gentlemen
Good morning
As a new member of this council I would like to indicate that it is a great honour for me to be chairing the meeting of this, I consider, one of the most important councils of the Community.
As a Region we face many challenges of which the need to enhance productivity and sustainable growth brings many questions regarding our ability to transform our economic base. The strength of our institutions and organisations is also being challenged.
I think that the time is now that the Community must not only think but also act to change its way of doing business.
The world economy is moving at a fast pace and it seems like we can’t keep up. I think that the time has come for us as the Council responsible for Trade and Economic Development, to bring trade and economic development to the Region.
We must find a way in actively engaging the private sector. It’s only by working together, that we will be in a position to make policy and implement new strategies. It is the private sector that (trades and does business). In this regard, I consider the session with the private sector of great importance.
The Community’s effort at making greater use of Information technology has influenced the development of the CARICOM Interactive Marketplace and Suspension Procedure (CIMSuPro). Like the CSME Application Processing System (CAPS), this is a further attempt to make our procedures more efficient and user friendly. It will give our economic operators real time information that will allow them to match supply with demand.
It also has the potential to provide a boost to the small and medium enterprises by expanding their market reach and facilitating investment in the development of that sector.
While the deliberations of the COTED will include intra-regional trade, we must not lose sight of the opportunities provided by the bilateral trade agreements which CARICOM has concluded. We are in the fortunate position that these Agreements, free trade or partial scope, are with partner countries in our hemisphere.
In order for us to take advantage of the opportunities provided by these agreements, it is imperative that governments and the private sector work together to increase production, enhance productivity and improve competitiveness.
We must also not lose sight of the multilateral trade negotiations in the WTO.
This year the World Trade Organisation celebrates its twentieth anniversary and will be holding its Tenth Ministerial Meeting in Nairobi, Kenya, the first to be held on the African continent. This session of the COTED will review the preparations taking place in Geneva and will discuss the Region's positions and participation in the Ministerial, as countries assess the future of the Doha Development Round.
I am of the view that positive results for Small and Vulnerable Economies in all areas of negotiations such as agriculture and non-agricultural market access must be consolidated and it be included in any package that might come out at Kenya or post Kenya.
We are looking at a long working agenda but I am sure that the willingness to cooperate and support each other will bring us the long wished for growth.
Thank You
