Full, safe, unhindered access to Single Market needed for sustainable growth
– COTED Chair
The Minister of Commerce, Trade and Industry of Suriname, Ferdinand Welzijn, delivering remarks as Chair at the opening of the Forty-fourth Meeting of the Council for Trade and Economic Development (COTED) in Georgetown, Guyana, has said the private sector’s full, safe, and unhindered access to the CARICOM Single Market is important for the promotion and sustainability of economic growth.
However, he added that that development depends on public-private partnerships. “After all, it is the private sector that trades and does business,” he pointed out.
The minister said his background in the private sector has provided him with a full understanding of the concerns and frustrations of entrepreneurs who are facing trade difficulties within CARICOM.
Minister of Commerce, Trade and Industry of Suriname, Ferdinand Welzijn
He said the way business was being conducted in the Region had a “big impact” on the achievement of sustainable development and growth. “Abiding by the principles set out by the CSME as well as full implementation shall pave the way for a sustainable growth, as well as establish reliability for our business community,” he reasoned.
“Therefore, I wish to stress the need for full, safe, and unhindered access for our business society to the Caricom Single Market,” a statement from the Caricom Secretariat quoted him as saying.
Member states, he added, needed to consider what they wanted from the CSME, and how to maintain it. “We must not hinder each other (in our efforts) to trade by using non-tariff barriers”, he warned.
His remarks constitute one of the main items for discussion at the meeting – the CARICOM Single Market and Economy (CSME).
CARICOM Secretary-General, Ambassador Irwin LaRocque, in remarking, also referred to the role of the private sector, and the creation of the environment to facilitate its full involvement in the CSME.
“The private sector is asking us to do better. The people of the Region are asking us to do better. You can send a clear signal of your determination to make that difference by reaching agreement on the Regional Policy for Micro, Small and Medium Enterprises. It is an opportunity to open the way for the small entrepreneur to benefit from our Single Market”, the Secretary-General said, as he rallied the Council Meeting to “do better”.
The COTED is responsible for promotion of trade and economic development of the Caricom Community. In particular, it is required to oversee the development, operation and implementation of the CSME.
