Chairman and Members of CARICOM,
Host Minister Hon. Clement Rohee,
outgoing Chair Hon Margaret Dyer-Howe,
Colleague Ministers,
Members of the Diplomatic Corps,
Representatives of Member Governments,
Representatives of Inter-Hemispheric and Regional Governments,
Ambassador Richard Bernal – Director of the Regional Negotiating Machinery,
Friends of the Media:
We in the Region continue to face an extremely busy and urgent trade negotiating calendar. The simultaneous demands of crafting the Free Trade Area of the Americas, participating in the mandated negotiations of the World Trade Organisation, and initiating the discussions on the Economic Partnership Agreements with the European Union are taxing out individual and regional capacities.
But these are the realities that we must face as developing and emerging economies seeking to discover opportunities for advancement in the challenging international trade environment of today's economic order.
Meanwhile we press on with our agenda to create the CARICOM Single Market and Economy, to give greater emphasis to intra-regional trade in both goods and services, and to create a stronger grouping to bolster our positions and support our demands in the international trade arena.
In this regard too, we welcome the increasing public awareness and debate on the Caribbean Court of Justice and the subtle indications of positive public positions on the Court as a Caribbean Institution.
At this time our economies continue to be impacted by the still recessive economy of the United States, one of our major trading partners and one of the major sources of investment in our region.
This situation was further exacerbated by the war on Iraq and the continuing security threats of worldwide terrorism.
The Caribbean tourism industry is yet to recover from the series of events beginning with nine eleven ( 9/11) and including the recent United States- Iraq war, the present health threats of Severe Acute Respiratory Syndrome ( SARS ) and increased terror alerts and bombings. The traveling market is understandably cautious and our revenues are consequently impacted. Some of our economies have begun to exhibit the signs of debt-pressures, reduced revenues, increasing fiscal deficits and exchange rate fluctuations.
As we observe and experience these external pressures it is perhaps a good time to emphasise the importance of increased intra-regional trade to balance the effects of these external shocks.
The region is yet determined to maintain and strengthen its efforts in creating a vibrant telecommunications and information technology sector as the platform to facilitate further diversification of our economies and as the infrastructure for the delivery of other services including financial services and the support for manufacturing and industry.
We should endeavour to use the present negotiations in services in the World Trade Organisation (WTO) and the Free Trade Area of the Americas (FTAA) to arrive at positions to advance this diversification effort, attracting investment and emphasising job-creation.
Even while we pay attention to our services sector, we must follow closely the agricultural trade agenda. In spite of the sustained challenges to our agricultural trade in the region in terms of the attack on the European Union (EU) preferential commitments to the Asia Caribbean and Pacific (ACP) countries and including the present Australian and Brazil consultations in the World Trade organisation (WTO) on the EU sugar regime, we must remember that agriculture is still a major contributor to the economies of several member states and a major contributor to employment and earnings in the region. If anything, we are encouraged to forge forward and try new strategies to deal with the changing situations.
This 30th anniversary of CARICOM sees a functioning and developing Community and Common Market noting its achievements and striving forward for deeper regional integration and a stronger and common voice which demands to be heard in the hemispheric and international arena.
We have much to congratulate ourselves on but the pace of events leaves us little time even for celebration, still we can pause and appreciate our progress and showcase it to the rest of the world.
I hope for a fruitful and productive session as we deal with the issues vital to our economies and the well-being of our people.
At this time I would like to extend our sympathies to our colleague ministers from Jamaica. We are sorry to hear of the most recent natural disaster and regret the loss of life. Please be assured that you have our support at this time.
To our colleagues from Barbados congratulations on your historic election victory and we welcome you back to continue the work of your national and regional constituents.
