Honourable Kerrie Symmonds, M.P., Minister of Foreign Affairs and Foreign Trade of Barbados, and Chair of the Council for Trade and Economic Development (COTED);
Other Ministers and Heads of Delegations joining us in Georgetown and Online;
Heads and Other Representatives of Community Institutions.
Ambassador Wayne McCook, Assistant Secretary General, CARICOM Single Market and Trade, Caribbean Community (CARICOM) Secretariat;
Other Staff of the CARICOM Secretariat;
Distinguished Delegates;
Ladies and Gentlemen.
It is a pleasure to welcome you to Guyana for this Sixtieth Meeting of the Council of Trade and Economic Development (COTED). Welcome as well to those who are not here in person but have joined us online.
You are meeting against the background of many trade-related challenges facing the Region, and in a geo-political environment which is changing very rapidly. The recent tariff shocks are a stark reminder of the need to diversify our trade and economic relations. We must redouble our efforts to deepen existing, and explore new markets and develop new partnerships, if the Region is to advance its goals of economic growth and sustainable development.
As such, the work to address the way forward in trade relations with the United States; the bilateral negotiations with Colombia; and the outstanding Certification of the Belize-El Salvador Partial Scope Agreement, must be given focused attention.
Equally, we need to promote regional production and expand intra-regional trade by updating policies and practices to support entrepreneurship and make trade and business development easier. We also have an imperative to address the impediments to trade and remove longstanding issues of “non-compliance” from the agenda.
I am pleased that a report on the Regional Industrial Policy will be presented to you at this session. This Policy can become an important aspect of deepening of the regional integration strategy going forward, and I urge you to give focused attention as to how it will be finalised and implemented.
Excellencies, the Region also needs to more efficiently harness the competencies of our Regional Institutions and work more effectively together to advance the work of the Community. Time is too short, and resources are too scarce for us to continue to work in silos when collaboration and joint effort can save resources, both human and financial, and deliver better results. The Secretariat continues to seek to work collaboratively with our stakeholders, and we will see this when the Secretariat team reports on work alongside partners like the Caribbean Development Bank (CDB) and the CARICOM Private Sector Organization (CPSO), on critical research and analysis on trade challenges. I wish, in this regard, to publicly recognise the work done with the CPSO on issues of trade advocacy, particularly with respect to the America First Trade Policy and related actions against certain shipping and maritime interests.
Excellencies, this COTED has made progress on a number of issues. For others, finalisation of work is possible. Among these is the urgency of advancing the completion, and implementation of the revised Common External Tariff and the Community’s Rules of Origin Regime.
I commend our regional Senior Officials for their preparatory work and the Report which the COTED will consider at this Meeting provides a solid basis to address significant policy questions and deliver concrete and actionable decisions that are time bound.
Finally, Mr. Chairman, I urge this COTED to make full use of the Treaty’s rules and flexibilities as it addresses the matters before it, especially the most sensitive.
I am confident that under the leadership of the Chair, and with the valuable contribution of Ministers and other Heads of Delegations present, and through robust discussion and engagement, there will be meaningful outcomes from this Sixtieth Meeting of the Council. My team and I remain ready to give you and the Meeting our full support.
Thank you.
