The CDB president feels if the region’s governments honour their commitments to the multi-pronged Jagdeo Initiative on Agriculture, this will result in farming being more commercially viable and distribution and marketing of agricultural products more efficient. In the early 1980s, his predecessor William Demas urged that concrete steps be taken to put a dent in the unacceptably high annual food import bill, now at US$3B.

After endorsing it in 2004, CARICOM leaders agreed in 2007 to implement the main pillars of the Jagdeo Initiative over an 18 – month period.

The current credit crunch has affected Caribbean exporters, who are feeling the pinch of reduced working capital and demands by suppliers for up-front payments for raw materials.

At the recent CDB annual meeting, Bourne proposed that measures by regional governments include interest rates reduction, special credit lines at development institutions, an expansion of trade credit facilities and government loan guarantees.

Since the region does not have the resources to finance many of the initiatives the CARICOM leaders will review, they are focusing on resource mobilization and will have discussions during the Summit with representatives of key International Institutions (IFIs).

On the tourism front, for the 2009 winter season, some CARICOM countries experienced a double-digit decline in tourist arrivals including in The Bahamas (15.3%), Antigua and Barbuda (13.6%) and St. Vincent and the Grenadines (12.9%) after a lacklustre performance in 2008, which saw steep declines in arrivals from the U.S. and Canada for several destinations.

Bahamas Prime Minister Hubert Ingraham, who has lead responsibility for tourism, will provide an update that will include proposals emanating from the recent high-level Caribbean tourism think thank held in Washington.

CARICOM sources indicate that the membership application from the Dominican Republic is more or less when, rather than if, bearing in mind the close working relationship that exists through CARIFORUM and that this is likely to proceed in 2010.

Some CARICOM observers note that the relationship between CARICOM and the DR has not been entirely smooth and that widening the movement, in this case, will likely bring with it more challenges than benefits.

On External trade negotiations, a meeting between CARICOM Ministers and Canada’s International Trade Minister, has more than once been postponed and is scheduled for September to lay the groundwork for what the region hopes will be a trade and development agreement.

The leaders have to decide on a replacement for the head of the Caribbean Regional Negotiating Machinery (CRNM), which is being incorporated into the CARICOM Secretariat and is about to be relocated to Jamaica.

In the process, CRNM has lost its head, veteran Caribbean trade negotiator, Henry Gill and some other staff members are not too keen on moving to Kingston. A former Jamaican diplomat with international trade experience is the leading candidate to replace Gill as Director-General.

CARICOM leaders will also map out their approach to upcoming talks with U.S. President Barrack Obama, with issues such as crime and security, assistance for debt relief, climate change, trade and the reform of multilateral financial institutions expected to be on the agenda.

A working group from both sides is meeting within weeks for initial discussions on security cooperation and projects under US$45 million allocated for the region, US$15 million more than announced by President Obama in Trinidad in April.

Antigua and Barbuda Prime Minister, Baldwin Spencer, recently rated the performance of CARICOM as a six or seven out of ten.

No details were provided on what areas of progress contributed to the 60 to 70 per cent scorecard. Perhaps the three-member CARICOM Bureau, which meets in between Summits and will now be headed by the energetic and no-nonsense Jagdeo, will keep the public informed on CARICOM’s track record, something that the donors will undoubtedly be monitoring.