Latest CSME report indicates 64 percent compliance

THE latest report on the Caribbean Community (CARICOM) Single Market and Economy (CSME) has indicated there was an overall compliance rate of 64 percent in the Region.This level is not what was envisioned years after the introduction and a further indictment on the system was the recent pronouncement by CARICOM Secretary-General, Ambassador Irwin La Rocque that “the governing

arrangements for the CSME have become bureaucratic, unwieldy and lethargic” a cause for concern.
His comments were made at a time when the push for improved regional trade is a major focus of the Secretariat and Guyana’s Finance Minister, Dr. Ashni Singh has acknowledged the worry expressed by the Secretary- General.
The latter, in an exclusive interview with the Guyana Chronicle, underscored the need for greater efforts to be employed for addressing “impediments” to regional trade, both institutional, as referenced by the Secretary-General, and infrastructural.
Dr. Singh said: “Until these impediments, like the issue of inefficient transport infrastructure, are addressed, the Region will struggle to realise its potential.
Jagdeo initiative
“Addressing this major impediment to trade should be a focus of prioritised effort of regional policy makers. For example, the Jagdeo Initiative underlines some priority actions that are needed to accelerate regional trade.
“Some of the impediments are more easily addressed than others, such as improving and regulating the legislative and regulative framework to facilitate trade; but the transport infrastructure needs attention,” he agreed.
He added that there is absolutely no doubt that trade opportunities in CARICOM “abound” and that Guyana can and should be taking advantage of this.
The Finance Minister said: “Guyana has been a committed member State when it comes to improving regional enterprise.
“We continue, as a country and this Government, in particular, continues to believe that CARICOM represents an extremely important opportunity and means through which to achieve accelerated regional development.”
Singh pointed out that “accelerated regional development” translates to the “aggregate of progress” at the national level.
Different initiatives
“We have been trying to pursue the different initiatives within CARICOM to ensure a more effective regional space exists. There are a number of impediments, some natural and others institutional, that we need to work harder to remove,” he said.
Leaning on Guyana’s recognition as the “agriculture and food capital” of the Caribbean, the minister maintained that, once the impediments to trade are addressed, both the Region and trading partners stand to benefit.
He said: “We can produce all the food that is required to meet the food import bill of the entire CARICOM.
“Indeed, Guyana has positioned itself as the agricultural and food capital of the Caribbean. We have the potential to produce the food and meet the need.
“Once more concerted efforts are made to address the impediments, the Region will be much better placed to realise its potential, as will individual member States.”
The Finance Minister reiterated the benefits of improved regional trade.
“Trade is good for both parties, contributing social and economic goods, which is why people engage in trade, because it is in their mutual interest to do,” he emphasised.
The minister added that Guyana’s Private Sector has done well in increasing its shares in regional as well as extra-regional markets.
He said: “We encourage our private sector to do so. The private sector role in this (improving regional trade) is to make itself as efficient, as competitive, and as productive; as well as to be as aggressive and as outward looking as it can to expand its shares in the regional markets.”
Support for increasing trade investment and working relations among CARICOM member States has been an area of continuous focus.

(By Vanessa Narine)