THE 34th meeting of the Council for Trade and Economic Development (COTED) will be held over two days, starting today, at the Princess Hotel, Providence, to deliberate on a number of issues. High on the agenda is examination of recommendations to ease the effects of the rising cost of fuel and commodities on the Region’s economies.
The issue was first raised at COTED in May last year, at the height of the crisis in North Africa, which triggered an increase in the prices of fuel that itself caused a hike in the cost of other commodities.
The ministers will also look at regional consumer protection and the recommendations from the report on the full integration of Belize and the OECS into the CARICOM Single Market and Economy (CSME).
With respect to external economic trade relations, discussions will focus on the CARICOM- Canada Trade and Development Agreement, and the implementation of the Economic Partnership Agreement (EPA) signed between the Caribbean Forum of African Caribbean and Pacific (ACP) States (CARIFORUM), and the European Union (EU).
Ministers will also consider preparations for re-engaging The Dominican Republic on the implementation of the CARICOM-Dominican Republic Free Trade Agreement, as well as re-engagement with the United States in the CARICOM-US Trade and Investment Council (TIC).
Discussions will also centre on trade matters with other third states, including China, Costa Rica and Panama.
The lengthy agenda also includes discussion on COTED’s input with respect to restructuring the CARICOM Secretariat.
The Secretariat’s restructuring was the subject of a report by independent consultant, Landell Mills Ltd. Heads of Government had mandated the assessment of the Community’s institutions beginning with the Principal Administrative Organ, the Secretariat, and received the report – `Turning CARICOM Around: Proposals to Restructure the Secretariat – at their just-concluded Inter-Sessional meeting in Paramaribo, Suriname.
Trade officials had begun their brainstorming preparations since Monday at the CARICOM Secretariat, ahead of the two-day ministerial forum.