Private sector involvement crucial

 

THE involvement of the private sector in facilitating the development of the economy plays an important role in the ability of the Caribbean Single Market and Economy to operate successfully.
 
This is coming from Director General, Office of Trade Negotiations, CARICOM Secretariat, Ambassador Gail Mathurin, who delivered remarks at the Private Sector and Rural Communities CSME Workshop yesterday at the Lloyd Erskine Sandiford Centre (LESC).
 
It is with this in mind that the CSME is actually working on establishing a stage for this sector right here in this island and across the entire CARICOM region of states, she said.
 
“To have a functioning CSME we need especially the private sector – whether in the rural or urban areas – to drive economic growth, capitalise on trading activities, generate employment and create investments. In fact, one of the major underpinnings of the CSME is to create a platform for the private sector here in Barbados and across the wider CARICOM region to grow and attain higher levels of international competitiveness,” Mathurin added.
 
Mathurin said that the CARICOM Secretariat has heard the calls made by persons requesting more information on this regional agreement and they are therefore, heeded this call by facilitating similar events workshops across the Caribbean.
 
“The CARICOM Secretariat has heard the request for more information on the CSME and thus with the kind assistance of the European Union is facilitating a series of similar engagements across the region.”
 
The Ambassador said that the CARICOM Community is conscious of the fact that environments in which they operate both from a regional and international perspective and it is with this in mind that the Heads of Government approved a strategic plan for this community where eight priority areas were identified.
 
“As a Community, we are well aware of the regional and international contexts in which we operate. Therefore, last year CARICOM Heads of Government adopted a Strategic Plan for the Caribbean Community which has identified eight priorities and areas of intervention. The priorities which are of particular importance to the private sector are building economic resilience; building technological resilience and promoting research, development and innovation.”
 
She further stated that one of the areas that is currently occupying their attention is the way in which the CSME is being utilised.
 
“One of the areas of intervention in the Community Strategic Plan that is currently occupying a significant amount of our energies and resources relates to the accelerated implementation and use of the CSME. Both the implementation and use of the CSME are critical components of building economic resilience throughout our Community.”

 

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