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SPEECH BY THE HONOURABLE HILROY HUMPHREYS, MINISTER OF COMMERCE, INDUSTRY AND BUSINESS DEVELOPMENT, ANTIGUA AND BARBUDA, ON THE OCCASION OF THE SEVENTH MEETING OF THE COUNCIL FOR TRADE AND ECONOMIC DEVELOPMENT (COTED), 8 OCTOBER 1999, GEORGETOWN, GUYANA

Outgoing Chairman of the COTED
Other distinguished colleagues,
Excellencies,
Delegates,
Ladies and gentlemen,

Please permit me to commence my brief remarks by expressing appreciation on behalf of all delegates to the Government of Guyana and the CARICOM Secretariat for the warm and splendid arrangements offered our delegations. It is always a pleasure to visit Georgetown, even if it is only for 48 hours.

Colleagues, since we last met there have been many important events. Special mention must be made of ongoing Lome and Free Trade Area of the Americas (FTAA) negotiations, as well as the negotiations to complete the revision of the Treaty of Chaguaramas. In certain cases there has been some success, while in others, there is work still to be completed.

The Caribbean will be faced with some important challenges by the end of this millennium. The recent economic and political changes in the world have to some extent weakened the Region, reinforced by a disturbing environmental situation. Our States know too often the ravages of natural catastrophes, and a few – Barbados, Grenada, St. Vincent and the Grenadines, and we understand Guyana as well  – are now faced with the phenomenon of “fish kill”. This poses serious danger to those countries’ fishing and tourism industries. The phenomenon could impact on other countries, since “we are all swimming in the same fish bowl”; a ripple in Barbados is also felt in Antigua and Barbuda. Such is the nature and reality of the CARICOM archipelago.

We have, as colleagues, a shared interest in regional integration for mutual prosperity and development. As small economies, integration and co-operation are the surest ways in which small economies like ours can face the challenges posed by the present global economic environment. It is therefore imperative to pool our resources and among other things, implement the measures of Protocol II to ensure the viability of our economies while securing markets for our products.

The Government of Antigua and Barbuda is supportive of CARICOM establishing a Free Trade Agreement with Cuba. Such an FTA would further provide for Cuba’s inclusion into our trading arrangements, thereby providing many opportunities for linkages in the production process and for strengthening CARICOM’s negotiating position, particularly with the European Union.

In an attempt to improve our productive capacity, colleagues, I urge you, as a priority area, to include the business of Services high on the agenda for the next COTED Meeting. CARICOM has a comparative advantage in this area, hence the importance of adopting strategies to maximise the benefits to the economies from the sector. Such discussions should start here and later involve other interest groups and partners within the Community.

Ministers, a packaged agenda is before us, and I look forward to your cooperation in making today’s meeting a success in the interest of the CARICOM Single Market and Economy.

I thank you.

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