Final Caricom

7/27/2019 Final Caricom

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CARICOM

Caribbean Community


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Member Nations

CARICOM Members

Status Full member Associate Observer

Antigua and Barbuda' Anguilla Aruba

Bahamas Bermuda Colombia

Barbados British Virgin Islands Curaao

Belize Cayman Islands Dominican Republic

Dominica Turks and Caicos Islands Mexico

Grenada Puerto Rico

Guyana Sint Maarten

Haiti Venezuela

Jamaica

Montserrat

Saint Kitts and Nevis

Saint Lucia

Saint Vincent and the Grenadines

Suriname

Trinidad and Tobago


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CARICOM: Relations with EU

European Union (EU)

The EU is a family of democratic European countries, committed

to working together for peace and prosperity. It is not a State

intended to replace existing states, but it is more than any other

international organization. Its Member States have set up commoninstitutions to which they delegate some of their sovereignty so

that decisions on specific matters of joint interest can be made

democratically at European level.

In the early years, much of the co-operation between EUcountries was about trade and the economy, but now the EU also

deals with many other subjects of direct importance for our

everyday life, such as citizens' rights; ensuring freedom, security

and justice; job creation; regional development; environmentalprotection; making globalization work for everyone.


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Benefits to CARICOM States

In industrialized countries, even those selling sugar to the world

market, many social benefits are made available by the state,

whereas in CARICOM countries, housing, health care, education,

recreation, and other such benefits are more often than not

provided

by sugar producers.

EU port refineries to be supplied reliably and predictably, and

therefore the maintenance of an EU cane sugar refining industry

Which is a valuable complement to the beet industry.

CARICOM sugar is more than simply a matter of trade; becausethe agreements encompass mutual political and economic rights

and obligations which extend well beyond the confines of sugar

refining.

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SUGAR TRADE

Sugar trade between CARICOM and the European Union is regulated by two trade

agreements:

The ACP/EU Sugar Protocol and

The Agreement on Special Preferential Sugar (SPS).

ACP/EU Sugar Protocol

The fundamental principles enshrined in the Sugar Protocol are the following:

Agreed Quantities

Guaranteed Prices

Indefinite duration

The Sugar Protocol is an agreement between governments whereby the EU

Member States guarantee to buy and import agreed quantities of sugar which theACP Signatory States undertake to Sell.


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CARICOM: Banana and SugarIndustry

Banana Producers

Jamaica

St. Lucia

St. Vincent & the

Grenadines

Sugar Producers

Belize

Guyana

Jamaica

St. Kitts & Nevis


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CARICOM Banana Industry

The most immediate threat of globalization is to the banana

industry in the Windward Islands, Belize and Jamaica. Banana

export data for 1998 shows a decline with worrying implications

for dead freight payments (for unused cargo space) and for thefuture of the industry. There was some concern falling prices in

July 1999, prompted by increased supply from Central America

and a slight weakening of sterling against US$, to which the EC$

is pegged. As a result of improved quality and direct sales tosupermarkets, the free-on-board price was L604/ tone in May

1999, 6.1% above year earlier levels. The price advantage of

Windward fruit overdollarbanana reached 27.2%.


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CARICOM Banana Industry

Caribbean banana productions faced steadily increasing cost of

production during the past 10years. Physical sizes of banana

producing countries limit expansion of banana cultivation, furtherendangering the industry. Banana exports from the Caribbean

countries decreased steadily during 1995-99 due to natural

disasters, low market demand and low prices offered.


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Competitiveness inCARICOM

Within the 148 countries surveyed, sevenCaribbean/CARCIOM countries were included:Barbados, the Dominican Republic, Guyana, Haiti,Jamaica, Suriname, and Trinidad and Tobago

The WEF defines competitiveness as the set ofinstitutions, policies, and factors that determine the

level of productivity of a country.


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Performance ofCARICOM countries


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Factors Contributing to Ease of

Business in CARICOM


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Overview The competitiveness of Caribbean/CARICOM

countries has been declining

Most countries in the region are still experiencing aneconomic decline, which is likely to continue intothe foreseeable future

More critical for governments to endeavour tocreate more enabling environments byimplementing policies, removing bottlenecks and

bureaucracy, fostering efficiency etc thatencourage and facilitate investment andinnovation.


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Area of cooperation betweenIndia and CARICOM

Indias membership of the Caribbean DevelopmentBank

Greater Indian participation in Caribbean

Supply of retroviral drugs for fighting HIV/AIDS.

CARICOM has also requested Indias contribution toCARICOM Development Fund (CDF) to fundeconomic activities with the CARICOM region.

Government of India funded the US$ 1 million for

information technology and communicationinfrastructure.

We provided computer software and communitystudio at the CARICOM Secretariat.


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Relationship betweenIndia and CARICOM

CARICOMs exports to India have grownfast in the last decade but are still mainly inthe extractive industries.

Between 2001 and 2009, it finds,CARICOM exporters expanded their export

sales generated in India by an average of59%, making this one of the regions most

dynamic export markets over this period.However, exports of liquefied natural gasand crude petroleum oil from Trinidad &Tobago accounted for 72% merchandiseexports.


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Since most of these goods face zero or low tariffs inthe Indian market, the CRNM does not see this as apriority area for trade negotiations. However, there

are some regional exports that face high tariffbarriers, some of which are agricultural products.

In 2009, Indian importers spent US$266bn on globalmerchandise imports.

India also represents a dynamic global market withimport spending expanding by approximately 23%annually between 2001 and 2009


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Among the CARICOM countries, The Bahamas is theleading market for Indias exports, accounting for77% of Indias total exports to the region during

2009-10

Other major export destinations of India in theregion are Trinidad and Tobago, Haiti, Jamaica,Suriname Guyana, and Barbados.

Trinidad and Tobago is the leading import source,accounting for 79 percent of Indias total importsfrom the region during 2009-10


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Ease of DoingBusiness

A review of the Doing Business 2013 report,published by the World Bank, and the extent to

which select government regulations andprocesses support businesses in the Caribbean.


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World Banks DoingBusiness 2013 report

Highlights the ease of doing business by analysing regulations that applyto an economys businesses during their life cycle, including start-up andoperations, trading across borders, paying taxes, and protecting investors

The Doing Business 2013 study assesses local business regulations thataffect small-to-medium sized businesses across the following 10 indicators:

1. starting a business

2. dealing with construction permits3. getting electricity

4. registering property

5. getting credit

6. protecting investors

7. paying taxes8. trading across borders

9. enforcing contracts

10. resolving insolvency.

R ki di h


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Rankings according to theReport

Overall Rankings Ranking of CARICOM nations


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Note: The lower the number, thebetter the ranking.


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Starting a business in CARICOMnations

Performance of select Caribbean countries on the ease ofstarting a business in 20112012 (Source: World Bank)

G d CA ICO


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Getting credit in CARICOMnations

Performance of select Caribbean countries on the ease ofsecuring credit in 20112012 (Source: World Bank)


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Paying taxes in CARICOM nations

Performance of select Caribbean countries on the ease of paying taxesand the burden of those taxes on businesses in 20112012 (Source: World

Bank)


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Resolving insolvency inCARICOM nations

no practice status means that a country has had zeroinsolvency cases a year over the past 5 years.


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Conclusion


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Thank You

Documents

Final Caricom