CSME important

The CARICOM Single Market and Economy (CSME) is the best platform for achieving sustainable economic growth and development for countries in this region.

However, Secretary General of CARICOM, Ambassador Irwin LaRocque, says that while a lot of technical work is taking place as it relates to getting the CSME fully functional, he is “less than satisfied” with its implementation and is therefore calling on stakeholders across the region to assist in making it a reality. He was speaking yesterday morning during the opening of a Regional Stakeholders’ Consultation on the CARICOM Single Market and Economy (CSME) which took place in the conference room of the Caribbean Examinations Council under the theme ‘What’s in it for me?’, as he contended that the CSME is also the platform through which the Caribbean must build international competitiveness and economic resilience.

“We have been asking ourselves, what more can we as a Secretariat do, to facilitate implementation at the Member States’ level, whose capacity is severely constrained in the various areas of work. Now I am asking how can you help us to bridge the implementation gap; and to be quite frank, we need your help. You form part of constituencies in all countries and the various organs to which you belong and you have a voice,” he stated.

With that in mind, LaRocque said he hoped the views expressed during yesterday’s meeting would help to identify the key priority issues that must be addressed to ensure that the CSME can be implemented and operated efficiently.

Speaking also to the importance of the CSME, Andrea Power, Co-ordinator, Regional Co-operation and Integration at the Caribbean Development Bank (CDB) maintained that the “urgency” with which the region needs to accelerate the completion of the single market cannot be overstated.

“The external trading environment is becoming increasingly difficult to navigate, as multilateralism appears to be under threat with our major trading partners looking increasingly inward. We therefore need to make this expanded marketplace that the CSME promises, a lived reality, if our private sector is to thrive and develop sustainable jobs which in turn can contribute to the reduction of poverty,” she added.

Noting that the CDB is committed to promoting and supporting economic integration and co-operation among its membership, Power said they have already supported a number of interventions over the strategic period of 2015 to 2019, in areas aimed at improving the environment for the trade in goods regime. In that vein, the CDB official said that as the Bank articulates a new strategic plan to support the inclusive and sustainable development of the region, it is their hope that they can build a more strategic and programmatic relationship with the CARICOM Secretariat and other regional institutions to support the much needed accelerated implementation of the CSME. (JRT)