Economy on the agenda as CARICOM leaders meet in Trinidad & Tobago

Caribbean Community (CARICOM) leaders ended a one day meeting in Port of Spain, Trinidad & Tobago, Tuesday agreeing to the formation of a Commission on the Economy as they seek to revive the ailing economies of the 15-member regional grouping.

In addition, Trinidad & Tobago’s Prime Minister, Kamla Persad-Bissessar, who chaired the CARICOM Bureau meeting, said agreement had also been reached on the establishment of a Commission on Transportation.

“We also agreed that the Commission should address the priority areas for fiscal sustainability, resource mobilization as well as critical economic infrastructure services particularly energy and ICT (Information Communication Technology).

“We further agreed the recommendations of the Caribbean Convergence Model prepared by Mr. Winston Dookeran, who is Trinidad & Tobago’s Foreign Affairs Minister, and the Commission is to report by the end of 2013”.

At their last summit in July, CARICOM leaders had agreed to establish a committee to consider the economic situation facing member states and the wider region; Barbados Prime Minister Freundel Stuart, who will chair the Commission on the Economy, told reporters he would advise regional leaders on the regional growth agenda.

“It is generally known now that the issue of economic growth in this region has been on the front burner agenda issue,” he said, adding that growth across the region in the last few years “has been anaemic”.

“We thought we had to apply our minds to see how best we can put the economies back on a sustainable growth path,” Stuart said, adding that the issue would not only involve “not just growth, but growth with employment”. -(CMC)