CARICOM Member States becoming increasingly important trade partners for Belize

Although the USA and the UK are said to be Belize’s top trading partners, the biggest declines in export sales so far this year were recorded for those destinations. Meanwhile, CARICOM countries are becoming increasingly important trade partners for Belize, particularly as they are now buying more of Belize’s main exports. All of the crude Belize sells now goes to Barbados, although exports were down for the first quarter.

The Statistical Institute of Belize (SIB) has published details on its website. The data indicates that of the nearly $23 million in export earnings Belize garnered from CARICOM for the first three months of the year, $8.7 million was from Barbados, $7 million from Jamaica and $5.9 million from Trinidad and Tobago. However, there was a fall in earnings from all three countries, with the most substantial decline in monetary value being for exports to Barbados.

Trinidad and Jamaica both buy sugar, and orange and grapefruit concentrate from Belize. In addition to the citrus concentrate juices, Barbados buys crude oil from Belize. Citrus concentrate juices are also the main domestic export which Guatemala takes from Belize.

Read more at: The Reporter

CARICOM Regional Statistics Strategy advances to Heads of Government

Ministers responsible for CARICOM Affairs have recommended that the Strategic Framework of the CARICOM Regional Strategy for the Development of Statistics (RSDS) be placed before CARICOM Heads of Government in July for endorsement.

The recommendation came after the Ministers deliberated on the Strategic Framework of the CARICOM RSDS during the Forty-Second Meeting of the Community Council of Ministers (Council) in Georgetown, Guyana, on 16 May, 2018.

Also to be placed before the Heads of Government for endorsement are the next steps such as the development of a comprehensive implementation plan for the RSDS. The plan will include costing, a Resource Mobilisation Strategy, a Monitoring and Evaluation Framework and an Advocacy and Communication Strategy.

The RSDS should play a strategic role in strengthening statistics in the Region and improving its availability for evidence-based decision-making. It constitutes a shared foundation upon which statistical capacity will be developed. (more…)

‘Purpose fit solutions’ needed to close CSME implementation gap

“As a region we are not where we want to be with the implementation of the CSME, and as we consider the sub items on the agenda we must do so in a manner to report and achieve progress going forward.”- Chair of COTED, the Hon. Chet Greene
As Caribbean Community (CARICOM) Ministers with responsibility for trade meet in Georgetown, Guyana, calls have been made to ramp up the implementation of the CARICOM Single Market and Economy (CSME).

The Ministers are in Georgetown for the two-day Forty-Sixth Meeting of the Council for Trade and Economic Development (COTED) which opened on Wednesday at the CARICOM Secretariat. The CSME is one of the main agenda items of the Meeting.

Speaking at the opening session, both Chair of the Meeting, the  Hon Chet Greene, Minister of Foreign Affairs, International Trade and Immigration of Antigua and Barbuda, and Ambassador Irwin LaRocque, CARICOM Secretary-General, placed emphasis on the CSME and wanted swifter action on its implementation.

“…Article 15 section 2 (b) confers on this Council the responsibility to, “promote the development and oversee the operations of the CSME”. As a region we are not where we want to be with the implementation of the CSME, and as we consider the sub items on the agenda we must do so in a manner to report and achieve progress going forward. Certainly, the confidence of our people and our businesses within the integration process must not be shattered”, Minister Greene said.

This slideshow requires JavaScript.

See more photos here

See video recordings here

(more…)

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:

See more COTED photos here

(more…)