EDITORIAL: Summit holds great hope for Caribbean

 

IN just under two weeks Caribbean leaders will be meeting for their annual Heads of Government Summit. This year’s Summit will be held in Guyana from July 4-6. 
 
As would be expected, there should be the usual hype surrounding the event as the summits command enormous attention in the host countries. In addition, those leaders who go there for the event will also garner lots of attention. A lot of significance is being attached to Guyana hosting the conference since that country is one of the founder members of Caribbean integration following the collapse of the West Indies Federation in 1962. 
 
It seems like only yesterday that the leaders had come together to thrash out a wide range of policy issues aimed at bringing more life to the regional integration process. On the last occasion they met they highlighted plans to reform the Caribbean integration, address the subject of correspondent banking; trade matters and in particular the abrupt end to the negotiations between this region and Canada for a new economic cooperation agreement; climate change, and how to deal with increasing crime across the region.
 
All of these and more issues are expected to be given more of a hearing next month. Even before that there will be the case where quite a few new leaders will be taking up their place at the Summit. Trinidad and Tobago’s Dr. Keith Rowley; Jamaica’s Andrew Holness; and St. Lucia’s Allen Chastanet will be the new leaders adding their presence at the forthcoming Summit and their inputs will be closely monitored since it is expected they will be bringing some fresh approaches to Caribbean integration.
 
At the conclusion of this year’s Summit though, one would want to know that far-reaching decisions have been made if we are serious about integration. Many can recall situations where our leaders agree to carry through with certain policies only to delay in implementing them, for one reason or another. This has given rise to the region being labelled as having an Implementation Deficit. So having participated fully at last year’s conference on climate change in Paris, it is time for the tiny islands and nations making up the Caribbean Community to move with haste in effecting measures/policies to deal with this subject matter. Since climate change has significant implications for the region, no effort must be spared to tackle it while ensuring that there is no large scale fallout. 
 
The subject of the correspondent banking is a serious matter as well. It has implications for the financial services industry not only in Barbados but across the Caribbean. Already businesses are complaining that financing enterprises have become a headache and to have this other large issue of banking relationships rearing its head is not good at all.
 
The Caribbean is still struggling to come to terms with the global economic situation and while the talks around the region is for more private sector-led economic growth, there is a role in this for governments, which must give the private sector the tools to forge more progress. Having not seen the conference agenda as yet, it is anticipated there will be a lot more on the plate of the leaders. Let them therefore make this conference a more rewarding one.

Barbados Advocate

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