IT is imperative that governments and the private sector work together to increase production and enhance productivity and include competitiveness, says Chairperson of the Council for Trade and Economic Development (COTED), Surinamese Minister of Trade and Industry Sieglien Burleson.The Surinamese Minister made this disclosure yesterday at the 41st meeting of the COTED held at the Pegasus Hotel, Georgetown. The two-day special session will also address various issues affecting the private sector.
She said this session of COTED underscores the willingness to cooperate and support each other in order to bring prosperity and growth for all in the region.
The COTED Chair noted that the world economy is moving at a fast pace and it sometimes seems that the council cannot keep up. “I think that the time has come for us as a council that is responsible for trade and economic development to bring trade and economic development to the region.”

She continued: “We must find ways to actively engage with the private sector. It is only by working together that we will be in a position to make policies and implement new strategies. It is the private sector that are the ones trading and doing business.” In this regard, she said the session with the private sector is one of great importance.
GREATER USE OF TECHNOLOGIES
The Suriname Trade Minister explained that the community’s effort to make greater use of technologies has influenced the development of the CARICOM interactive market place and the suspension of procedures like the CARICOM Single Market and Economy (CSME) application processing system.
She said this is a further attempt to make procedure more efficient and user friendly; it will give economic operators real time information and will allow them to match supply with demand. It also has the potential to provide a boost to the small and medium enterprises by expanding their market reach and facilitating investment in the development of the sector.
“While deliberations of COTED will include interregional trade, we must not lose sight of the opportunities provided by bilateral trade agreements which CARICOM has concluded. We are in a fortunate position that these agreements and free trade are partners in our hemisphere in order for us to take advantage of our opportunities provided by agreements,” the chair said.

By Rabindra Rooplall