CARICOM must be strategic, deliberate and effective in discussions, decisions and implementation activities along with management of time and resources in order to achieve the CARICOM Single Market and Economy (CSME).

This is according to Minister within the Ministry of Barbados Foreign Trade, Sandra Husbands, during her opening remarks on Thursday at the 47th Meeting of the Council for Trade and Economic Development (COTED) at the Marriot Hotel.

Minister Husbands, who is chairing COTED, said small states are being overlooked and become devalued and this puts CARICOM at a great risk if nothing is done, since deconstructing what no longer adds value is important as reconstructing what adds value to members’ states future. “Our efforts need to be focused on changing the dynamics at the extra regional and the inter-regional level, we must make CARICOM work, this includes ensuring our institutions work as a well-oiled machine,” Minister Husbands said.

Noting that CARICOM is one and not 15 member states, the Barbadian Minister said the Region’s survival depends on common interests while acting as one in a common cause to achieve various objectives.

“We are sister territories striving to manage our resources and opportunities to generate and accelerate the value and benefit which we share for our mutual benefit. If we want to truly understand our joint relationship the advent of (hurricane) Maria and Irma illustrates how we are affected by any members’ misfortune and the active resolution of our difficulties requires each other,” the minister explained.

Adding that climate change has caused extensive flooding in member states, Minister Husbands said there is need for members to adjust and retool themselves to remain relevant and address these realities.

“Economic resilience must be one of our priorities… each one of us is aware that trade is skewed, the vast population of the agenda with request for suspension of the common external tariff reflects a tremendous lag in moving forward on a production cooperation initiative, this would generate jobs, increase trade and boost government revenue,” she said.

COTED, she said, has to build on the progress that was made by the Conference of Heads of Government in Montego Bay in July 2018 and the Prime Ministerial Subcommittee and the Council for Finance and Planning which met in Barbados in September last.

“We must move CSME forward, there are challenges but there are opportunities and we must seize them all, a space must be created for us to deal with and deliberate on making COTED the most revered organ in the community, our mandate speaks to trade and economic development which is the heartbeat of our societies,” she explained.

Caribbean Community (CARICOM) Secretary-General, Ambassador Irwin LaRocque, said that the meeting is taking place at an uncertain time in world trade affairs; the budding trade wars and British Exit from the European Union (BREXIT) all have implications for member states.

He said that the most important immediate task is to now advance the Caribbean Single Market and Economy (CSME) of CARICOM, since it has long been identified as a vehicle towards sustainable development, while positioning members to take advantage of the opportunities in the international sphere.

The ambassador said that the outcome of deliberations at the current meeting should assist with deliberations in Port of Spain.

“While we have made some progress in implementing the CSME, there is a significant amount of work to be done, all of this is set out in the implementation plan that has been agreed to by our Heads of Government and we wish for our member states to implement the plan,” the CARICOM SG said.

He told the gathering that there is need for full compliance with the provision of the treaty as it applies to trade and the movement of people.

“We must act to ensure that our constituency, the private sector and the people of the Region are able to trade their goods and services without hindrance and to move, work or leisure. The business of the community must not be stymied by refusal to live up to obligations,” he said.

He noted that as a rule-based institution, there is no alternative to compliance with obligations since the avenues for disputes have been laid down right up to the CCJ. The ministerial discussions precede the special CARICOM Heads of Government Meeting on the CSME scheduled for Trinidad and Tobago, 3-4 December.