THE Minister of Trade and Industry of the CARICOM member state of Suriname, Ms. Sieglien Burleson, has opined that the time has for the Council for Trade and Economic Development (COTED) to play a leading role in removal of the layers of red tape that continue to stymie trade and economic development in the Region.As she declared open the 43rd Meeting of the Council for Trade and Economic Development (COTED), at the Ramada Georgetown Prince Hotel on Thursday, Minister Burleson said: “The time has come for us, as a council responsible for trade and economic development, to really bring trade and economic development to the Region through strong institutions and partnership with the private sector.”

Minister Burleson said the council must swiftly move to achieve the objective of the Caribbean Single Market and Economy (CSME), which was established to achieve regional integration and economic growth within the Community. But in doing so, she cautioned, certain layers of red tape must be removed. “We cannot afford to have issues like refusal of market access,” she cautioned, while referring to some of the issues stymieing economic growth in the Region.

The CARICOM Assistant Secretary-General for Trade and Economic Development, Joseph Cox, in delivering opening remarks, took note of the shift in attitudes regarding trade.
“There has been a marked tendency among some political forces in other parts of the world to point the finger of blame at the free interchange of goods, services, and persons for any number of economic or social ills that may affect their societies.

“I say this because we — as the longest standing integration movement among developing countries — should not consider ourselves immune to such tendencies,” Cox said.

He added: “So our work is cut out for us, and our task is to ensure that all our actions are pragmatic and strategic, and all the structures that we create are economically prudent and responsive to the wishes of the people of the Community.”

CARICOM, through COTED, must continue to build a robust trade and economic environment in which innovation is encouraged, the Assistant Secretary-General urged, while noting that the benefits must be distributed equitably. “If we can do this, we will have created a durable vehicle for our growth and development,” he said.

Additionally, Cox told the ministers that the outcome of the two-day meeting is crucial to the effective functioning of the CARICOM Single Market and Economy. The discourse, he added, would inform the CSME review, which was mandated by the Heads of Government and set to be tabled in February 2017 during the Intersessional Meeting.

“On the external trade front, our trade agreements with Cuba and the Dominican Republic, as well as our response to the decision by the United Kingdom to exit the European Union, require your attention,” he added.

The Council will also be asked to approve a range of quality standards for goods and service providers. Additionally, COTED is expected to consider a roadmap for a Caribbean Regulatory System for Medicines, and inter-sectoral action against non-communicable diseases.

“Each item on the agenda of this meeting is of profound importance to our Community. Our people are anxious for us to succeed, and have therefore been clamouring for faster decision-making and implementation of our commitments,” he told the ministers.

Attending the COTED Meeting for the first time were Bradley Felix — Minister in the Office of the Prime Minister, with responsibility for Commerce, Industry, Investment, Enterprise Development and Consumer Affairs of Saint Lucia; and Tracey Taegar-Panton, Minister of State in the Ministry of Investment, Trade and Commerce of Belize.

COTED promotes trade and economic development of the Caribbean Community, and oversees the operations of the Single Market and Economy. In keeping with Article 15 of the Revised Treaty of Chaguaramas, COTED is also designed to evaluate, promote, and establish measures to enhance production, quality control, and marketing of industrial and agricultural commodities, so as to ensure their international competitiveness.

COTED is also expected to establish and promote measures to accelerate structural diversification of industrial and agricultural production on a sustainable and regionally-integrated basis; determine and promote measures for the accelerated development and marketing of services; and promote and develop policies and programmes to facilitate the transportation of people and goods among other trade and economic related activities.