As the 59th Meeting of the Council for Trade and Economic Development (COTED) gets underway, Caribbean-Community (CARICOM) Secretary General Carla Barnett reminded stakeholders that the revised Treaty of Chaguaramas aims to promote equal development for all.
On Wednesday, CARICOM commenced the high-level engagement which is being held at the CARICOM Secretariat, Georgetown and will cover several important topics including regional trade, economic integration, and development issues. Delivering remarks at the opening of the forum was CARICOM’s Secretary General Carla Barnett, who reminded of the objectives of the revised Treaty of Chaguaramas.
“As this COTED deliberates, we are reminded that the framers of the revised treaty sought to be careful to strike the right balance between the common interests of the community and the interests of member states within our community of sovereign states. They did not intend to promote winners and losers around them. The objective is a community that supports enhanced trade, investment, integration of production and development for all.”
She added. “Similarly, the partial scope agreements before this Co-TED remind us that the treaty is designed to support individual member states in building bilateral trade arrangements that respond to their particular circumstances.”
Moreover, the SG highlighted that since its inception, COTED has made significant progress in addressing several issues within the Caribbean Community.
“This COTED has several items on which progress has been made. There are others for which finalization of work is possible, including the reports on the review of the common external tariff and the rules of origin, the report on the draft rules of procedure for the COTED. The movement of skills, the reports of progress on free movement of skills, the reports of progress in implementing the approved categories and consideration of the admission of aviation personnel is encouraging.”
She explained that these efforts will further strengthen the free movement of skills regime as action to implement the conference’s decision on full free movement continues to percolate. Moreover, the Secretary General encouraged stakeholders to use the treaty’s flexibility to their advantage.
“I urge this COTED to make full use of the treaty’s rules and flexibilities as it addresses the matters on the table, especially the most sensitive. I am confident that under your leadership and with the valuable contribution of the ministers present and heads of delegations, we will deliver a successful outcome from this 59th meeting of the Council.”
The treaty provides specific pathways to address national challenges, taking this approach ensures predictability for stakeholders and for the people of the community. It removes the uncertainty that arises when agreed commitments and obligations are disregarded or referred to consultations and indeterminate processes.
The Council for Trade and Economic Development (COTED) is a CARICOM decision-making body, which, among other things, supports the production, quality control and marketing of industrial and agricultural commodities, and oversees the operations of the Single Market and Economy.
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