Honourable Prime Minister
His Lordship the Chief Justice
Ministers of Government
Members of Parliament
Former Prime Minister Sir Lloyd Erskine Sandiford
Members of the Diplomatic Corps
President of the Caribbean Development Bank Professor Bourne and past President Sir Neville Nicholls
Representatives of National, Regional and International Agencies
ASG Regional Trade and Economic Integration and other members of Staff of the Secretariat
Distinguished Guests
Members of the Media
Ladies and Gentlemen
When the Heads of Government at their 22nd Meeting decided to establish a specialised Unit on the Single Market and Economy as an integral part of the Secretariat with the core of its staff located in Barbados until the Secretariat Headquarters in Guyana was ready, given the urgency of implementation of the CSME, I was particularly pleased as I was aware that construction of the Headquarters Building had not at that time, even been started. The process from suggestion to realisation may have been prolonged. The important fact, however, is that it has now happened.
Let me place on record, the Community and the Secretariat’s appreciation to the Government and people of Barbados for their generous gesture and for these well appointed facilities that comprise the office to host the CARICOM Single Market and Economy Unit. It sets a standard which the Secretariat’s Headquarters will have to meet when it throws open its doors in Georgetown. This office, is a place to which I have no doubt Ms Field-Ridley and her staff will look forward to coming to work everyday.
In extending my thanks, I must include the Governor and Staff of the Central Bank who have been so accommodating. There must be something about CARICOM and Central Banks. The current headquarters of the Secretariat is in the Bank of Guyana Building – the Central Bank of that country. Our Deputy Secretary-General came to us directly from the Central Bank of Belize. And now, the Unit to spearhead the Implementation of the Community’s Flagship activity – the CSME – is to be housed in the Central Bank Building in Barbados. Whatever the connection, the Secretariat and the Community are grateful to the institutions in all three Member States for the human and physical capital which they have so generously provided and continue to provide for the advancement of the Community.
As I hinted to you earlier, Ladies and Gentlemen, there are some things which, much as we wish them to take place with alacrity, take time in coming. The important fact however, is that they do happen. And this most certainly is the case with the CARICOM Single Market and Economy itself. It is happening not a day too soon. Today’s ceremony marks that fact and represents another phase in the Community’s progress.
The opening of this office indicates to all, the sense of urgency with which both the Prime Minister with lead responsibility for the Single Market and Economy, the Hon Prime Minister of Barbados, and the Secretariat wish to infuse to the implementation process of the Single Market and Economy. The Unit’s proximity, physical and otherwise, to the political directorate at this stage, will help to ensure a swift and cohesive flow from policy-making to implementation. It will also place at the helm of this vital flagship of the Community, an outstanding Prime Minister to oversee this momentous shift in relations among our Member States. For while there may still be 15 ‘bodies politic’ in the Caribbean Community, there will be only one ‘body economic’ and one market place. Therein lies the kernel of the phenomenon that is the CSME.
This development calls for fundamental changes in our way of life. It requires a serious re-assessment of how we do business and how we view business and economic activities of our neighbours. It calls for a re-classification of what we view as domestic, who we see as competitors, where we look for partnerships and how we market our products – be they goods or services.
It is a test of our willingness to use our resources efficiently and not dissipate our energies and talents in activities which fritter away the opportunities we need to grasp, if we are to build a viable and secure Caribbean society with a competitive and growing Caribbean economy and one which takes account of the differences in our endowments and our levels of development. When one gets to the bottom of it all, the CSME is really about the reconstruction of our economies and societies. And, given the hemispheric and global community in which we must take our place, this is an inescapable and timely necessity.
This most critical phase in the implementation of the CSME calls for the creation and effective functioning of appropriate institutions such as this special Unit working in close collaboration with the lead Prime Minister. Already in place are a Prime Ministerial Sub-Committee for the Single Market and Economy; an Advisory Council to this Sub-Committee on which all stake holders, including the private sector, labour, consumers and Non Governmental Organisations (NGOs) are represented; and the Caribbean Regional Organisation for Standards and Quality (CROSQ) which is just about to begin operations (here at its Headquarters in Barbados) to ensure that the Community’s products meet international trade requirement standards.
The finishing touches to the most important institutional element of the CSME are being administered and soon the Caribbean Court of Justice will be in operation. Indeed the sign proclaiming the building is in place in Port of Spain, Trinidad, the Court’s headquarters. This Court, for which your distinguished Chief Justice worked so hard and can justly claim to be one of the architects, is indispensable to the CSME for the legal certainty it provides by ensuring uniform application of the Treaty governing the operation of the CSME.
As critical to the success of the Single Market and Economy as the institutions are, it is the people of the Caribbean that will make this enterprise happen. Although its provisions extend across the social and economic spectrum, there is little doubt that the CSME will only be as successful to the extent to which the private sector takes advantage of the opportunities presented. At this implementation stage of the CSME, the private sector must therefore join the Secretariat at centre stage.
The public sector, in large part through the work of the Inter-Governmental Task Force, has crafted and agreed to the provisions to create the enabling environment at the regional level. Government Officials continue to work assiduously at the national level to ensure that the legislative, administrative and institutional environment is in place to facilitate the achievement of this goal. The baton must now be passed on to the private sector which must use its entrepreneurial skills and risk-taking spirit to seize the opportunities and fulfill its responsibility as the engine of growth for the Region, using the vehicle provided by the public sector.
Ultimately, like in so many areas of life, success will require a full team effort. CARICOM is a team effort. It requires all players – government, private sector, labour, NGOs, and the wider civil society to play their part fully. Team work is the only way, and it is our only hope. It is the proven method to ensure that promise becomes reality.
The big question now remains: Are the members of the Caribbean team ready for a Single Market and Economy. And if not, what is required to make them ready? By establishing this unit comprised of both the public and private sectors, we are seeking to accelerate that process towards achieving that readiness. But others too must play their part! This unit cannot do it alone. I repeat, it must be a team effort!!!!
Ladies and Gentlemen, the Caribbean stands on the brink of a period of far-reaching, fundamental change, socially and economically. Our Region has however, faced the phenomenon of globalisation before. Indeed many hold that we have been from inception, a globalised society, for example with economies skewed towards production for exports, while meeting our consumption needs through imports. The significant difference then however, was that the fruits of our labours accrued to others. Today it would be necessary that we turn that experience on its head. The benefits of our labours must accrue to the people of this Region. This requires us to embrace new thinking in how we relate to each other – One People, One Market, One Caribbean.
It must be recognised therefore, Ladies and Gentlemen, that the creation of the CSME is not an event, but a process – one of strategic adjustment and reconstruction as much as of our very economic foundation and social processes, as of our thinking and attitudes. As Prime Minister with lead responsibility for the Single Market and Economy, Sir, your role and leadership are pivotal to this historic phase of Caribbean development on which we are embarking. Given your track record as a Caribbean Man and Leader, I have no doubt that the man and the moment are in positive alignment for the building of the new Caribbean.
For the Community, today is therefore, indeed a special day. And it is our hope that when the Single Market and Economy is fully operational, we will look back and see today as a red letter day in the reconstruction of the Caribbean economy and society.
I thank you.
