…as COTED opens confab in Guyana

TRADE MINISTERS across CARICOM are meeting in Guyana for the 49th summit of the Council for Trade and Economic Development (COTED), where matters such as trade in goods and services, climate change and the implementation of the CARICOM Single Market and Economy (CSME) will be up for discussion.

The ministers all gathered at the Pegasus Hotel, on Monday, for the opening ceremony which saw remarks from Chair of COTED, Dominican Foreign Minister, Francine Baron, and CARICOM Assistant Secretary-General, Joseph Cox.

In opening remarks, Cox said that, while COTED had done a good job over the years, in ensuring that the rules governing the regime were upheld, there were some instances in which difficulties, still to be resolved, had arisen. He raised the issue of non-compliance with the provisions of the Revised Treaty and the Decisions of the COTED as matters which continued to be problematic for the Region.

Cox said that there were too many instances of prolonged non-observance of the basic tenets of Regional integration arrangements which, not only affected the sanctity of the Treaty, but suggested a serious disregard for the decision-making process within the Community.
He therefore called for the Members of the Community to comply with well-established rules and procedures and also urged them to proceed with the comprehensive review of the Common External Tariff (CET) and related instruments.

In his remarks, the Assistant Secretary General also lamented the “lethargic response” to opportunities for the Regional Private sector through the CET framework. He said: “Between January and October 2019, the value of CET suspensions recorded stood at US$148.5 million. The top six products for which suspensions had been granted for the period July to October 2019 were Refined Sugar (14,710 mt), Cinnamon (60,000 lbs), Palm Oil (25,700 mt), Soya bean oil (4,200 mt), Coconut oil (12,511 mt) and Vegetable Fats and Oils (11,894 mt). These represent opportunities for our private sector and I urge our producers to avail themselves of same bearing in mind that the need is not just to meet the quantities demanded but also to honour the specifications that are required.”

On a positive note, the Assistant Secretary-General, updated that important steps were being made towards the implementation of an effective regime for the operationalisation of the support measures for Chapter 7 of the Revised Treaty of Chaguaramas, which include support for Article 164 industries.

This, he explained, was being done by examining the priority needs of the disadvantaged countries, regions and sectors and by identifying the institutional delivery mechanisms.
Cox stated: “…a chain can only be as strong as its weakest link. We must, therefore, seek to ensure effective project design from conceptualization through to implementation, if we are to efficiently utilize the limited resources that are available throughout the Region in resolving the challenges being faced by the weakest among us.”

With regards to the topic of Trade in Goods, Guyana has requested a suspension to increase the Common External Tariff (CET) to 40 per cent on pine wood and pine wood products as well as the submission of a revised list of manufactured products.

Speaking on the sidelines to the media was Foreign Secretary Carl Greenidge who is representing Guyana at the business meetings. He noted that COTED is at a serious juncture when it comes to the implementation of the CSME and trade relations. “We are at an important point in the evolution of the CSME and, in relation to trade, as you know there are all sorts of queries being raised and so this is part of the consolidation dealing with operational things…products, access and the arrangements between countries to make sure that they adhere to the commitments that have been made,” he said.

Cox, in his remarks, assured that a major part of the COTED agenda will be the deepening of the CSME with much of the focus on instruments that allow for the movement of CARICOM nationals for purposes of both business and pleasure.

Meanwhile, as Chair of the proceedings, Baron told the gathering that their attendance to the 49th Meeting was testament to the importance they attach to COTED and CARICOM. She shone the spotlight on the threat climate change poses to the Region and the need for funds to tackle same which still largely remains elusive. Baron also lobbied for sustainable economic viability of member states within CARICOM as failure to achieve such can cripple CARICOM. “I want to encourage us to approach the deliberations in the two days with a mindset of compromise and a desire to push through and get some positive movement on some long outstanding matters,” she said.

The leaders will also consider the recommendations from the meeting of CARICOM stakeholders on sugar and the independent study on the substitutability of plantation white sugar for refined sugar in manufactured goods produced in the Region.

Reports are also expected on the strategies being developed for priority service sectors such as Tertiary Education, Sporting Services, Professional, Cultural and Entertainment Services, Health and Wellness Services, ICT Services and Tourism Services.