Valley hopeful for greater regional cooperation

Having chaired the recently concluded 15th Special Com-mittee on Trade Development and External Economic Rela-tions, Trade and Industry Minister Ken Valley is hoping the committee will be able to foster greater cooperation and integration by uniting the efforts of ACS member states and associate members. Valley is hopeful it will build an enhanced economic space for trade and investment in the Greater Carib-bean. He said the two areas of vital action were the promotion of understanding, and the merging of positions in areas of common interest in the principal negotiation process, such as the FTAA and the WTO, especially where the treatment of small economies is concerned.

The committee’s two-year work plan includes studies on obstacles to trade; a study on principal trade trends; trade policy and integration agreements of the countries of the Association of Caribbean States (ACS); and the creation of the Integrated Infor-mation System of the Greater Caribbean. This will facilitate the gathering of information from all ACS member states and associate members, on the priority areas of the association (trade, transport, sustainable tourism, and natural disasters) while making it available on the Internet. The system is a joint initiative of the integration secretariats and other relevant institutions of the region.

The committee is also seeking to strengthen ties within the business community through the business forum, which has been held on three previous occasions and which allows persons to establish contacts, explore business opportunities and exchange ideas. Additionally, it is also supportive of dialogue within the region to explore the possibilities of establishing a common definition of rum. This dialogue, which began in 2002, is an initiative which will hopefully bring governmental authorities and producers together to draft a proposal for the definition of rum which would be introduced into the FTAA negotiation process. The Special Committee meets twice for the year, with ordinary meetings held on both occasions.