COTED urged to reassess orientation of external trade

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A review of the Caribbean Community’s (CARICOM) external trade relations, strengthened capacity, and Member States’ strong support of each other will ensure that the Region is in a better position to confront the challenges it faces.

This is the view of Suriname Minister of Commerce, Trade and Industry, the Hon. Ferdinand Welzijn, Chairman of the Council for Trade and Economic Development (COTED) now underway at the Pegasus Hotel in Georgetown, Guyana.

In remarks at the opening of the two-day Meeting Thursday morning, the Minister alluded to global development challenges, including the consequences anticipated from the withdrawal of Great Britain from the European Union (EU).

“For us to be better equipped and face all these challenges we must first work on strengthening the capacities of our communities and strongly support each other, to achieve economic growth and welfare for all of us in the Region”, Minister Welzijn said.

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Full, safe, unhindered access to Single Market needed for sustainable growth – COTED Chair

Chairman of COTED,  the Hon. Ferdinand Welzijn, Minister of Commerce, Trade and Industry of Suriname
Chairman of COTED, the Hon. Ferdinand Welzijn, Minister of Commerce, Trade and Industry of Suriname

The private sector’s full, safe and unhindered access to the CARICOM Single Market was important for the promotion and  sustainability of economic growth, Minister of Commerce, Trade and Industry of Suriname, the Hon. Ferdinand Welzijn, said on Thursday.

Delivering remarks at the opening of the Forty-Fourth Meeting of the Council for Trade and Economic Development (COTED) in Georgetown, Guyana, Minister Welzijn, who is chairing the Meeting, said that development depended on public-private partnership.

 “After all it is the private sector that trades and does business,” he pointed out.

His remarks were made in the context of one the main  item for discussion at the Meeting – the CARICOM Single Market and Economy (CSME).  The Minister said that his background in the private sector provided a full understanding of the concerns and frustration of entrepreneurs who were facing trade difficulties within CARICOM. (more…)

‘We must do better’ – CARICOM SG (with Video)

CARICOM Secretary-General, Ambassador Irwin LaRocque, Minister of Commerce, Trade and Industry of Suriname, the Hon Ferdinand Welzijn and Assistant Secretary-General, Trade and Economic Integration, Mr.  Joseph Cox at the opening of the 44th Meeting of COTED
CARICOM Secretary-General, Ambassador Irwin LaRocque, Minister of Commerce, Trade and Industry of Suriname, the Hon Ferdinand Welzijn and Assistant Secretary-General, Trade and Economic Integration, Mr. Joseph Cox at the opening of the 44th Meeting of COTED

While the Caribbean Community (CARICOM) has significantly advanced the CARICOM Single Market and Economy (CSME), “we must do better”, Ambassador Irwin LaRocque, Secretary-General said Thursday.

“Yes, we have done a lot, but we must do better.

“The private sector is asking us to do better.

“The people of the Region are asking us to do better”, the Secretary-General said.

He was at the time delivering remarks at the opening of the Forty-Fourth Meeting of the Council for Trade and Economic Development (COTED) at the Pegasus Hotel in Georgetown, Guyana. The COTED is responsible for the promotion of trade and economic development of CARICOM. In particular, it is required to oversee the development, operation and implementation of the CSME.

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Working together – CARICOM SG, Ambassadors and Heads of Community Institutions

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Work to strengthen the Region’s governance and implementation structures continued Thursday with the first joint meeting of the CARICOM Secretary-General, Heads of Community Institutions and the CARICOM Committee of Ambassadors  at the Pegasus Hotel, Georgetown, Guyana.

Thursday’s exchanges followed the fifth Meeting of the Committee of Ambassadors, held at the CARICOM Secretariat, also in Georgetown, on Wednesday. The Committee plays an important role in the governance structure of the Community, providing strategic advice and recommendations to the Community Council towards advancing the integration movement.

The Heads of Community Institutions  meet regularly with the Secretary-General to seek to harmonise efforts towards implementation of the CARICOM Strategic Plan.

Several participants joined the meeting via video conference.

 

CDF Head calls on President Granger

President David Granger and Chief Executive Officer of the Caribbean Development Fund, Mr. Rodinald Soomer at State House (Photo via Ministry of the Presidency)
President David Granger and Chief Executive Officer of the Caribbean Development Fund, Mr. Rodinald Soomer at State House (Photo via Ministry of the Presidency)

Ministry of the Presidency, Georgetown, Guyana, May 3, 2017 – President David Granger, (on Wednesday), met with Chief Executive Officer of the Caribbean Development Fund (CDF), Mr. Rodinald Soomer, who lauded Guyana for its excellent track record in paying its contribution to the organisation as well as implementation of development projects. The meeting was held at State House.

The CDF is a 12-member body established under Article 158 of the Revised Treaty of Chaguaramas signed in January 2001. The Agreement Relating to the Operations of the Fund was signed in July 2008 and the CDF began operating in August 2009. Its objective is to assist its members to maximise the benefits arising from participation in the Caribbean Single Market and Economy (CSME) by reducing intra-regional disparities through effective partnerships and the provision of financial and technical assistance. Its members include Guyana, Suriname, Barbados, Belize, Dominica, Antigua and Barbuda, Grenada, Jamaica, Saint Lucia, St. Kitts and Nevis, St. Vincent and the Grenadines and Trinidad and Tobago.

Last year, Guyana signed its second financing agreement for a blended loan facility with the CDF valued at US$10,432,263.