WHILE FORMER PRIME MINISTER Owen Arthur no longer holds a leadership position, his views cannot be easily overlooked or ignored. He is a man with a sharp intellect whose views can be thought-provoking and make us reflect on a number of pertinent issues. Take, for instance, his recent comments on the Caricom Single Market and Economy (CSME).
It is not a sexy subject, but many Barbadians feel that this country has been taken advantage of by member states within the CSME. Talk on this economic partnership is often dismissed by the average Barbadian while across the region, there is no real passion for it.
Fortunately, the administrations replacing Arthur – David Thompson’s and now Freundel Stuart’s – have remained committed to the CSME, even if there may be some slight ideological differences in their approaches.
It is against this background that Mr Arthur’s latest suggestion that the CSME be replaced with a new and indeed expanded trade grouping should be considered as something more than idle talk. He has set the tone for what should be the springboard for serious debate, certainly in Barbados, across the political divide, amongst the business community and academics on an issue that could affect us all.
Even before any discussion starts, there seems to be merit in his suggestion that a new economic group be established to include the Dominican Republic and Cuba. It is evident that these two Spanish-speaking neighbours need to become more intertwined with the region’s Anglophone nations. More importantly, it is best, particularly for our small island states, to reach bigger markets, to have an integrated tourism plan, to work with other trading and economic blocs, and to develop various industries.
But Mr Arthur’s comments are neither unique nor even earth-shattering. We should not forget the suggestions of former Trinidad and Tobago prime minister Basdeo Panday that his country, Guyana and Suriname forge closer trade relations amongst themselves and target Latin America because he felt the 15-nation Caricom was on the brink of collapse. Comments often emanating from Kingston and the behaviour of many other regional leaders indicate they think likewise.
The world has changed significantly. Many regions have not only talked about, but have formed significant economic blocs. The proposed Trans-Pacific Partnership between the United States and 12 Pacific nations, if approved by American legislators, will be very significant and will rival NAFTA (North American Free Trade Agreement) and the European Union. Across Latin America there is Mercosur and there is UNASur (Union of South American Nations) as well as DR-CAFTA (Dominican Republic-Central American Free Trade Agreement with the US).
These developments send one signal to us in the English-speaking Caribbean. Either we work together and appreciate the importance of the movement of capital, goods, services and people, or remain closed and inward-looking, and suffer the negative consequences. The merits and demerits of Mr Arthur’s proposal should be thoroughly debated.