COTED must position itself to address rapidly changing trade environment – Chair

The rapidly changing trading environment demands that the Council for Trade and Economic Development (COTED) find an “appropriate mix of methodologies and strategies” to address the Council’s expanding agenda.

This is according to the Hon. Chet Greene, Minister of Foreign Affairs, International Trade and Immigration of Antigua and Barbuda, who is chairing the Forty-Sixth Meeting of the COTED.

In remarks at the opening session of the Meeting at the CARICOM Secretariat on Wednesday 16 May, 2018, the Minister referred to both internal and external trade matters that could impact the Community’s progress towards sustained economic prosperity. These include the implementation of the CARICOM Single Market and Economy (CSME), market access for products, the review of the Common External Tariff (CET), the CARIFORUM-EU Economic Partnership Agreement (EPA), the future of trade with the United Kingdom after BREXIT and  the impasse between the USA and China. (more…)

 

COTED plays crucial role in advancing integration – CARICOM SG

CARICOM Secretary-General, Ambassador Irwin LaRocque, said matters under consideration at the Council for Trade and Economic Development (COTED) presented an opportunity to provide solutions that would advance the regional integration movement.

He was speaking on Wednesday morning at the CARICOM Secretariat in Georgetown, Guyana, during the opening session of the Forty-Sixth Meeting of the COTED.

Listen:

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Hurricanes Irma, Maria cost Caribbean tourism more than US$700M

Just under a million less tourists visited the Caribbean following hurricanes Irma and Maria last year, costing the region over $700 million, according to a report from the London-based World Travel & Tourism Council.

“The hurricane season resulted in an estimated (loss) in 2017 of 826,100 visitors to the Caribbean, compared to pre-hurricane forecasts,” said the report.

Those tourists could have spent US$741 million and sustained more than 11,000 jobs, it said.

With their turquoise waters and coral reefs, Caribbean island destinations rely heavily on tourism, which provides 15.2 per cent of the region’s gross domestic product and sustains 14 per cent of its labor force, according to the report.

Worldwide, the average contribution of tourism to GDP is 10.4 per cent.

Read more at: Jamaica Observer

 

CARICOM Committee of Ambassadors discussing key issues of integration

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Ambassadors of Member States accredited to CARICOM are meeting in Guyana Tuesday to deliberate on a number of key matters of importance to the Caribbean Community.

The CARICOM Committee  of Ambassadors is an important element in the Community’s governance structure, focusing on advancing the integration movement, and providing strategic advice and recommendations to the Community Council towards achieving that goal.  The Community Council, which comprises Ministers responsible for CARICOM Affairs in Member States and which is the second highest organ of the Community,  meets on Friday, also in Guyana.