– As Region advances removal of non-tariff trade barriers

WITH an initial focus on building regional trade relations, the Caribbean Community (CARICOM) is looking towards the United Arab Emirates (UAE) funding to establish an intra-regional ferry service with Guyana, Trinidad and Tobago, Grenada and Barbados for the testing phase.

This initiative also falls into the myriad of measures agreed by the Region’s leaders, which will advance reduction of the Caribbean’s food-import bill by 25 per cent by the year 2025, the official communiqué read, following the three-day 43rd Regular Meeting of the CARICOM Heads of Government Meeting in Paramaribo, Suriname, which ended on Tuesday.

Regional leaders recognize, quite often, that affordable intra-regional travel remains one of the major bugbears to trade and movement of skilled labour within the Caribbean.
The Council for Trade and Economic Development (COTED) has also been mandated to conclude by the end of July, the various initiatives and programmes aimed at the removal of non-tariff barriers to intra-regional trade, the document said.

“[They] welcomed an update from the Prime Minister of Barbados on advanced discussions with the United Arab Emirates regarding support for both a traditional ferry and fast ferry service for the Region and noted that a related proposal from the capital Abu Dhabi is being awaited,” the document said specifically.

It further noted that: “Heads of Government requested the Caribbean Development Bank (CDB) to commence the proposed roadmap study on the factors needed for successfully establishing a fast ferry service for the transportation of agricultural produce – with an initial focus on trade between Guyana, Trinidad and Tobago, Grenada, and Barbados.”

The meeting saw the agreement for the establishment of a working group to provide oversight of the project, which will include representatives from the governments of Barbados, Grenada, Guyana and Trinidad and Tobago, as well as the CARICOM Secretariat, CARICOM Private Sector Organisation (CPSO), and the CDB.

During the meeting, the Heads of Government also received an update on the progress made by the Ministerial Task Force on Food Production and Food Security (MTF) in advancing the CARICOM Agri-Food Systems agenda.

“A majority of [CARICOM] member states have developed and submitted to the MTF their national targets, which will contribute to the attainment of the 25 by 2025 targets. The MTF, through the Secretariat, has developed a reporting and monitoring tool which member states are requested to report on monthly,” the statement said.

The CARICOM Private Sector Organization (CPSO) was requested to accelerate implementation for its various agricultural investment projects through which 25 by 25 will be achieved.
“The MTF, working in collaboration with the CPSO, has identified 19 potential investment opportunities for displacing extra-regional agri-food imports among CARICOM member states,” the communique noted.

Also towards the advance of the 25 by 25 initiative, the Heads of Government welcomed the draft Terms of Reference (TOR) developed by the Secretariat for establishing a Regional Youth in Agriculture Advisory Mechanism.

This was agreed upon following the Regional Youth in Agriculture Dialogue during the Agri-Investment Forum and Expo that was held in Guyana in May.

“This Advisory Mechanism will assist the MTF in ensuring that youth participation and inclusion is accounted for in all its efforts to achieving 25 by 2025. Heads of Government endorsed and encouraged participation in the Agri-Investment Forum to be held in Trinidad and Tobago from 19-21 August 2022,” the statement said.