Follow Cafta’s footsteps

"Please allow me to take this opportunity to address our friends from the CARICOM and stress the importance of strengthening ties between our regional blocks," Albanez de Escobar told the large gathering last week during the 29th Miami Conference on the Caribbean Basin.

"We Central Americans are definitely seeking to extend our reach beyond CAFTA. In the last four years, our Central American presidents have met over 40 times. We hope to be able to say in the future that the leaders of the CAFTA countries, government and private sector have met with the leaders of the CARICOM countries twice as many times," she said.

Meanwhile, Central American countries are also lobbying potential investors to set up business in their countries to seize the benefits of the DR-CAFTA agreement with the US.

Honduras’ President Ricardo Maduro, also in Miami for the conference, led his country’s campaign in attracting investments for the country to take advantage of the free trade agreement with the US. Nicaraguan President Enrique Bolanos said the DR-CAFTA agreement would become an example for the rest of Latin America and criticised Argentina and Venezuela for rejecting a hemispheric trade agreement last month during the Summit of the Americas.

"There are countries that don’t want it. They are committing a mistake for their people. But you can’t force someone to drink water who is not thirsty. The opportune moment will arrive when they see the great success of Central America, and they are going to become convinced," he told journalists prior to a formal address to delegates in Miami.

Caribbean and Central American countries are also being urged to keep the free trade momentum going and to continue to undertake the necessary reforms to open up their markets. Caribbean-Central American Action President, Federico Sacasa, a former senior Bank of America executive and Nicaraguan native, said Caribbean nations can no longer afford to ignore globalisation, if they hope to reduce poverty in their struggling nations.

"Sometimes we’re our own worst enemies," Sacasa said. "The private sector, which has been the enemy of change, needs to reach out together with civil society to be advocates for government changes."

Sacasa noted each of the islands has a different set of customs procedures, further complicating trade. "We need to make ourselves more attractive for investment, " he added.

Countries in CARICOM and Central America, the so-called "Third Border" of the US are increasingly drawing Washington’s attention, particularly because of a growing influence of China and Venezuela in the region, according to analysts.

Venezuela’s Hugo Chavez has offered preferential financing for Caribbean countries interested in buying petroleum while China, whose trade surplus with the United States has raised concerns for the Bush administration, is courting the Caribbean countries in its effort to reduce Taiwan’s international allies.

China recently added a number of Caribbean countries to its approved travel destinations, including Antigua, the Bahamas, Barbados, Dominica, Jamaica and St. Lucia.