The following communiqué was issued today on the conclusion of the Inter-Sessional Meeting of the Conference of Heads of Government of the Caribbean Community.
Status of the CARICOM Single Market and Economy (CSME)
Heads of Government received a review of the status of the CARICOM Single Market and Economy (CSME) and noted the significant progress in implementation of the CSME.
Included among the areas of achievement are the legal and institutional measures and mechanisms to support the free movement of goods, services, skills, and cross-border establishment of businesses. They noted that the CSME was a journey not a destination and addressed the continued work to be done.
In that regard, Heads of Government agreed on priority areas to be addressed, including the challenges of payments for goods and services traded within the Region and the completion of the protocol on procedures relating to facilitation of travel.
Heads of Government reiterated their concern that some of their previous decisions had not been complied with and agreed that the necessary action would be taken to effect compliance.
Heads of Government also considered some impediments to furthering the CSME, including the need for the Organs and Bodies to meet and for effective consultative mechanisms, as well as capacity constraints at the national level.
Heads of Government recognised the supra-nationality of the Caribbean Court of Justice (CCJ) and the significant contribution of the rulings of the CCJ to strengthening the regimes of the CSME and governance of the Community.
Heads of Government highlighted the importance of transportation to the movement of Community nationals and called for a focused discussion on transportation in the context of the integration movement. They also urged greater collaboration among the regional airlines.
Heads of Government agreed to the importance of continually reviewing the impact of the CSME in both achieving the objectives of the Revised Treaty and on the lives of the people of the Community. In that context, they agreed that outstanding issues will be addressed at the Regular Meeting of the Conference in July 2017.
Correspondent Banking
Heads of Government recognised the need for a regional approach and concerted action to address effectively the challenge posed by the de-risking strategies of the global banks which result in the withdrawal of correspondent banking services. They also recognised the need for continued urgent action to strengthen the integrity of the financial system in CARICOM Member States and to attenuate the perception of the Caribbean as a high-risk Region.
In that regard, they considered the Strategy and Action Plan submitted by the Committee of Central Bank Governors and requested the Committee of Ministers of Finance with responsibility for Correspondent Financing to assume the oversight of its roll-out.
Heads of Government agreed that the Region must continue its robust and unrelenting advocacy on the issue of Correspondent Banking. They noted the advocacy initiatives that had been pursued and their success in raising international awareness of the consequences of the de-risking challenge.
Heads of Government encouraged Member States to seize the opportunity of heightened awareness among International Development Partners (IDPs) to secure the resources and support required to strengthen the domestic and regional financial system.
Heads of Government welcomed the efforts of the Caribbean Development Bank (CDB) to assist Member States to strengthen their financial systems and partnering with multilateral financial institutions to determine solutions to the ongoing de-risking threat to the Community.
Heads of Government acknowledged the multi-dimensional nature of the several drivers behind the de-risking strategies being pursued by global banks, and called for a comprehensive stock-taking exercise to determine Member States’ status and ensure that national action plans are aligned with the timetable for compliance with global regulatory standards.
Heads of Government noted particularly the need to strengthen Member States’ compliance with the global regulatory standards with regard to Anti-Money Laundering/Counter Terrorism Financing (AML/CTF) and Tax Transparency Information Exchange.
Heads of Government commended the Prime Minister of Antigua and Barbuda, and the Committee of Ministers of Finance for spearheading the advocacy initiatives towards resolution of the continuing threat to our financial sector and to our development prospects.
Tourism in the region
Heads of Government, recognising that tourism is a vital sector to the economies of Member States, welcomed proposals from the Caribbean Tourism Organisation (CTO) and the Caribbean Hotel and Tourism Association (CHTA) for Advancing a Regional Tourism Agenda, particularly through Public/Private Sector Partnerships.
Heads of Government acknowledged the importance of transportation and facilitation of travel, human resource development, the creative industries and marketing as well as competitiveness and financing for the sustainability of Tourism.
Heads of Government agreed that public-private sector partnerships, guiding the development and marketing of tourism for the Caribbean, needed to be more effective and requested that the marketing of tourism encompass, in particular, the eco-tourism product of mainland Member States – Belize, Guyana and Suriname.
With regard to travel, Heads of Government called for an urgent meeting of the Council for Trade and Development (COTED)-Transportation to address air transport issues in particular, including those related to the tourism sector.
In that context, Heads of Government supported the establishment of an Interim Tourism Working Group comprising representation from the CARICOM Secretariat, CTO and the CHTA with the mandate to coordinate with regional public and private sector stakeholder groups, the development of specific solutions which can be advanced in priority areas including the preparation of a pilot region-wide public relations and marketing initiative for 2017/2018 for presentation to the Thirty-Eighth Regular Meeting of the Conference.
Heads of Government noted that 2017 has been declared by the United Nations as the International Year for Sustainable Tourism Development and welcomed the invitation of Jamaica to attend the UN World Tourism Organisation Global Conference on Building Partnerships for Sustainable Tourism for Development to be held for the first time in our Region in Montego Bay in November 2017.
Information and Communication Technologies Ffr Development (ICT4D)
Roadmap for a Single ICT Space
Heads of Government welcomed and approved the Draft Roadmap for a Single ICT Space and commended the ICT cluster led by the Caribbean Telecommunications Union (CTU), the COTED, and the officials who had prepared the document.
Heads of Government emphasised that the Single ICT Space would be one of the driving forces for social and economic development of the Community as it would support the Digital Economy, as well as implementation of the CARICOM Strategic Plan and development of the Digital Agenda 2025.
In the context of developing the CARICOM Digital economy, Heads of Government will receive a proposal with regard to a regional research and education network service at the next meeting of the Conference in July 2017.
Heads of Government were confident that the Single ICT Space would enhance the environment for investment and production, provide an opportunity for innovation to flourish, support a sustainable increase in growth and jobs and enhance efficiency and increase access to public services. (PR)
