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One of Europe’s most remarkable external achievements is a comprehensive and legally binding international cooperation agreement that unites more than half of the world’s nation states. Signed in Benin in 2000, the Cotonou Partnership Agreement (CPA, commonly referred to as the ‘Cotonou Agreement’ or just ‘Cotonou’) intends to intensify the long-standing cooperation in politics, trade and development between the European Union (EU) and the countries of Africa, the Caribbean and the Pacific (ACP). This collaboration has led to the creation and evolution of unique institutions that facilitate ACP–EU cooperation among public officials, members of Parliament,
and many other partnership actors.
The changing global context, along with institutional, political and socioeconomic developments in the EU and the ACP, raise questions about whether this approach to cooperation has sufficiently delivered on its objectives, and which evolutions – or revolutions – may be necessary for these regions’ future cooperation. In recent years, various studies have examined this topic, mostly focusing on the Brussels-based ACP and EU representatives who manage and shape the cooperation. This paper seeks to complement existing evidence with the findings of a detailed review of the literature and the perceptions of past, present and future ACP–EU cooperation gathered from a wide range of stakeholders in ten ACP countries. With the CPA’s current cooperation framework scheduled to expire in 2020 it seems both warranted and timely to capture such perceptions for use in discussions about the future.
The analysis presented here is based on information collected in a structured survey of literature and semi-structured interviews with ACP officials in Brussels, as well as with a large variety of stakeholders in ten ACP countries – Botswana, Cameroon, Ethiopia, Ghana, Guyana, Nigeria, Suriname, Tanzania, Trinidad and Tobago and Zambia.
This brief is an update of a study which was initially released in 2011 by the International Trade Centre (ITC). The studied time frame covered the period of the economic crisis in 2008/2009 but not the recovery thereafter. With trade data available now until 2011, we have been able to add new export performance facts that show how the Commonwealth has emerged from the period of economic turmoil. In addition, data on trade agreements and tariffs have been updated for 2012.
The brief takes stock of the present export performance of the members, recognising their differences in terms of levels of development and the prevailing business climate. Commonwealth countries have also evidenced major differences in their economic and export performances in the context of the global financial crisis and during the subsequent recovery.
The brief analyses the wide range of trade agreements which Commonwealth members have engaged in. Based on an assessment of the market access conditions which prevail, the brief seeks to identify opportunities to engage in intra-Commonwealth agreements to enhance cooperation and trade amongst members.
Enhancing trade within the Commonwealth through improving market access would connect countries and citizens and therewith would provide a major impetus for the organisation. The Commonwealth Secretariat (ComSec) could be the key institution to prepare any possible agreement for facilitating market access. The Secretariat would also be tasked to ensure that any signed agreement conforms to other international obligations and commitments of the individual countries of the Commonwealth.
This report explores private sector development in the Caribbean region. The report is largely based on the analysis in the Private Sector Assessment Reports (PSARs) on 14 Caribbean countries. The PSARs were commissioned by
Compete Caribbean, a private sector development, technical assistance program funded by the Inter-American Development Bank, Canada’s Department of Foreign Affairs, Trade Development (DFATD), and the United Kingdom’s
Department for International Development. Compete Caribbean projects in the Organization of Eastern Caribbean States (OECS) countries are implemented in partnership with the Caribbean Development Bank. The Economist Intelligence Unit combined its own proprietary analysis and forecasting data with analysis from the PSARs to produce this comprehensive summary report. The PSARs explain the current situation of each of the Caribbean countries and present an overall assessment of private-sector development and recommendations for facilitating and accelerating private investment and growth. This report provides a summary of the key private-sector development issues noted in the PSARs, and approaches to overcoming these challenges.
The PSARs draw on both primary and secondary data sources. Primary data analyses were derived from interviews with key stakeholders from the domestic private and public sectors as well as from interviews with regional
and international agencies. Secondary data were utilized to describe the state of each country at both the micro and macro level. In addition to these specific elements of the research, the development of the PSARs was assisted by
consultations organized under the Caribbean Growth Forum (CGF). The original PSARs were formatted and edited by The Economist Intelligence Unit at the request of the Compete Caribbean Program, but were not authored by The
Economist Intelligence Unit.
This paper discusses the ways in which legal, regulatory, and governance institutions affect business competitiveness in the Caribbean region through their effect on transaction costs, contracting, firm organization, and formality versus informality.
This paper provides a comprehensive overview of the competitiveness landscape of the five most developed CARICOM countries, namely Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago. It builds on the findings of the most recent Global Competitiveness Index (GCI), featured in the World Economic Forum’s Global Competitiveness Report 2009–2010 (Sala-i-Martin et al., 2009). The remaining CARICOM members are not covered in this analysis as they were not included in the report. Through the lens of the GCI, areas that should be prioritized in the design of national competitiveness strategies will be highlighted.
This paper begins with a brief outline of the GCI methodological framework. We then describe the regional context by looking at the evolution of the CARICOM economies since their inclusion in the GCI in 2007–08. We also review their respective current performances in the GCI and its pillars, and compare them to some relevant countries and regions. The last part of the paper provides an in-depth appraisal of the competitiveness of Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago, and identifies areas requiring improvement for each of the five countries.
The financial sectors of most economies in the Caribbean remain underdeveloped and “thin” because they do not intermediate effectively between savers and investors. Furthermore, factors such as lack of collateral, poor credit information, and legal systems that favor large businesses and those with property particularly impede access to financing in the countries of the region. These factors make it difficult or impossible for many investors and entrepreneurs in the Caribbean to obtain financing for their businesses. While donors have been active in providing funds for investment, their interventions have been ad hoc. Furthermore, donor financing is not sustainable in the long term, and in some cases risk distorting financial systems, thereby hindering rather than encouraging financial market growth.
Currently, the fallout from the global financial crisis is casting further shadows on the economies and financial systems of Caribbean countries. While few economies in the region will experience bank failures, the high dependence on remittances, tourism and, in some cases, natural resources increases the fragility of an already vulnerable group of countries.
The purpose of this chapter is to examine issues that are central to financial market development in the Caribbean region. This report identifies factors that are required for financial markets to function effectively and describes policy options that could be implemented in the Caribbean to make financing more widely available.
The purpose of this paper is to apply new methodologies to analyze the history of and future opportunities for structural transformation in the Caribbean. We first look at the composition of exports from the Caribbean, and show that the region is specialized in relatively unsophisticated, "poor-country" export products, and this is not simply a consequence of their small size or specialization in tourism and financial services.
We then review the concept of the “product space” and determine where the Caribbean countries are specialized within this space. The results show that generally these countries export peripheral products that are intensive in capabilities with few alternative uses. In addition, we consider what effects regional integration would have on this opportunity set and show that future opportunities for structural transformation are much higher for the Caribbean Community
(CARICOM) as a perfectly integrated zone—higher than for any of its members on their own.
The final section discusses the policy implications of these results. We show that for almost all countries in the Caribbean there is a need to move to new export activities. Some countries in the region have a set of nearby activities they could exploit, including in the services sector, which suggests a parsimonious approach to promoting new activities is appropriate. This approach involves the government better orienting itself to learn what emerging sectors need in the way of publically provided inputs. But for many countries in the region, there are few nearby activities, suggesting a more proactive search process is necessary. In the appendix we apply the product space data to this search for nearby and more distant export activities for Belize and Jamaica. However, such data is merely a starting point for what must be a continuous process of high-bandwidth dialogue with the private sector to learn what is needed for new activities to emerge. We provide general design guidelines for such a dialogue, both for nearby and more distant activities, and we outline some specific initiatives as examples.
The discussion on the future of ACP-EU cooperation picked up pace in 2015, with both the EU and the ACP engaging in a soul-searching exercise and preparing their future positions. This complex policy process deserves a broad and evidence-based debate. The stakes involved in the review process are high:
• The Cotonou Partnership Agreement (CPA) links the EU and its 28 member states with a tri-continental group of 79 states. It is often hailed as a ‘unique’ agreement, taking into account its legally binding nature, holistic approach to development, comprehensive scope (covering the three pillars of aid, trade and political cooperation) and joint management arrangements. It offers a single framework for the operations of the European Investment Bank in the ACP (including through the Investment Facility).
• It guides the (intergovernmental) European Development Fund (EDF) providing predictable resources and accounting for a larger share of EU development aid than any other external instrument.
• It co-exists with a growing number of alternative (competing) policy and institutional frameworks (such as the Joint Africa-Europe Strategy) posing major challenges of policy coordination and coherence for the various partners involved.
In the review process the parties to the CPA – led by governments but including parliamentarians, civil society, private sector operators and local authorities – will need to address a set of existential questions that have arisen from the past fifteen years of CPA implementation and from important changes in the international context.
Euro sclerosis” was a term coined in the 1970s to describe stagnant integration, high unemployment, and slow job creation in Europe relative to the United States. Since then, the term has been used more generally to refer to overall economic stagnation. The term and that which it encompasses can be applied as well to a certain extent to the Caribbean countries. However, because these economies are small, the comparator to measure
“Caribbean sclerosis” would be some of the rest of small economies (ROSE) of the world. This group consists of about 50 countries each with a population of less than 3 million.
This report addresses several critical questions regarding these nations. Does size matter for economic growth and volatility? To what degree has Caribbean economic growth been inferior to that of ROSE? What could account for the Caribbean growth gap and what economic policies might decision-makers adopt to promote higher and sustainable growth? The answers to these questions will support the overarching hypothesis that the Caribbean suffers sclerosis.
The almost-exclusive focus on economic growth in this report does not imply that it should be the sole criterion to judge economic performance. Nevertheless, economic growth is the central concern of Caribbean policymakers, who recognise that it is critical to improve broad economic development, and hence to improve the welfare of Caribbean citizens.
The central focus here is on six countries in the region, which will be referred to as the C6:The Bahamas, Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago. However, the analysis will sometimes include, most often in the aggregate, the countries of the Organisation of Eastern Caribbean States (OECS). The six members of the OECS used in this report are Antigua and Barbuda, the Commonwealth of Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.
Economic performance is judged both over time and with respect to ROSE. However, the Caribbean countries can be categorised as dependent on either tourism or commodities, so wherever
possible we compare commodity (tourism) Caribbean countries with commodity (tourism) countries among ROSE.
The chefs profiled in this book are championing the effort of making local cuisine part of the tourism experience, building demand for local foods and training the next generation of local chefs. Working closely with farmers, they are transforming value chains to meet the high standards required by the hotel industry and in doing so are raising the incomes and improving the livelihoods of farmers.
The primary aim of this study was to document eleven successful cases of trade linkages in the Caribbean between agribusinesses and buyers in the tourism sector that can be up-scaled and/or replicated. The case studies were drawn from five selected Caribbean countries, namely: 1. Grenada; 2. Haiti; 3. Jamaica; 4. Saint Lucia; 5. Suriname. It is expected that the documentation of these successful Caribbean experiences will serve to enrich the exchange of knowledge between the Caribbean and the Pacific regions as well as with other countries in Africa, and ultimately contribute positively to economic growth and sustainable rural livelihoods through the promotion of trade between the agri-food and tourism sectors in both regions.
This report presents a summary of research about small- and medium-sized enterprise (SME) engagement in public procurement. Strategies to increase women-owned enterprises‘ understanding about, and access to, government contract opportunities are also considered. This research digest is expected to inform discussion among WEConnect Canada, community partners and governments about the constraints and opportunities of public procurement for SMEs, and in particular women-owned enterprises.
To inform stakeholders, this digest entails a review of secondary research drawn from government, NGO, and academic databases. Requests for related studies were also forwarded to scholars, research institutes, SME training and consulting organizations, and trade associations. Ten exploratory and anonymous interviews with policy experts and suppliers were conducted. The report suggests that strategic SME procurement policy is an under-utilized mechanism to enhance supplier diversity and hence, Canadian competitiveness. Furthermore, Canada will not remain a world leader without results-oriented and gender-sensitive economic policy. This is because the drivers of competitiveness are reflected in the ability of nations to leverage human and managerial capital, embrace innovation, ensure that all businesses are tapped into public and international market opportunities, and to establish sound financial and economic policy frameworks. It is also recognized that the growth of small and medium-sized enterprises (SMEs) is linked to Canadian prosperity and new job creation.
This report aims to help unlock business opportunities that advance the health, rights, and wellbeing of women in global value chains. It highlights the benefits of investing in women along the value chain and provides a framework for action and practical guidance for companies to identify and strengthen value-chain investment opportunities that deliver positive returns to business, women, and society. This report is not an exhaustive analysis of the ways companies impact women’s empowerment, or the way women’s empowerment impacts businesses. Rather, it should serve as an inspirational guide to help both new and experienced companies develop effective approaches to women’s empowerment. While the report is designed for a diverse industry audience, some examples and recommendations may be more relevant to consumer products companies with a strong manufacturing supply chain than service companies.
This report builds on a number of studies that emphasize the importance of a holistic and integrated approach to women’s empowerment, including a recent report on building effective women’s economic empowerment strategies published by BSR and the International Center for Research on Women and commissioned by the Oak Foundation.1 It also draws on a review of the latest literature on corporate engagement in women’s empowerment and a series of interviews with companies to test the framework and gather insights on key gaps, opportunities, and solutions. It also incorporates feedback and perspectives from participants at the private sector pre-conference held prior to the global Women Deliver conference in May 2016. For more information, please contact Indiana Vieljeux (email@example.com).
The Private Sector Assessment Report (PSAR) for Barbados provides a comprehensive overview of the country’s private sector. IIt draws on both primary and secondary primary data sources. Primary analyses were derived from interviews with key stakeholders from the domestic and public sectors as well interviews with regional and international agencies. A listing of the main stakeholders is documented in the original country reports. Secondary data were utilised to describe the state of country at both micro and macro levels. In addition to these specific elements of the research, the development of the PSAR was assisted by consultations organized under the Caribbean Growth Forum (CGF) banner.
The PSAR evaluates the primary components of the productive sector, the key challenges to private-sector development, potential emerging sectors and policy recomendations for priority areas. It is envisioned that the document can be used as a launch pad for multi-sectoral and inclusive discusions on the key issues impacting private-sector developmnent and how they should be incorporated into the national agenda.
The Private Sector Assessment Report (PSAR) describes the current state of Dominica's private sector. It draws on both primary and secondary primary data sources. Primary date analyses were derived from interviews with key stakeholders from the domestic private and public sectors as well interviews with regional and international agencies. A listing of the main stakeholders is documented in the original country report. Secondary data were utilised to describe the state of country at both the micro and macro levels. In addition to these specific elements of the research, the development of the PSAR was assisted by consultations organized under the Caribbean Growth Forum (CGF) during 2013. The PSAR identifies the components of the productive sector, challenges to private-sector development and emerging sectors and presents an action plan for enhancing private-sector development.
The Private Sector Assessment Report (PSAR) for St. Vincent and the Grenadines presents an overall assessment of the private-sector development and policy recommendations for facilitating and accelerating private-sector investment and growth. It draws on both primary and secondary data sources. Primary data analyses were derived from interviews with key stakeholders from the domestic private and public sectors as well as interviews with regional and international agencies. A listing of the main stakeholders interviewed is documented in the original country reports. Secondary data were utilized to describe the state of the country at both the micro and macro levels. In addition to these specific elements of the research, the development of the PSAR was assisted by consultations organized under the Caribbean Growth Forum2 (CGF) banner.
The PSAR evaluates the productive sector, together with the primary obstacles to business in St. Vincent and the Grenadines and the wider Organization of Eastern Caribbean States (OECS) that have emerged from the business environment and recent shocks. The report also assesses the subregion's policy response, partcularly through the implementation of an eight-point stabilization programme targeting national needs and overarching challenges relating to the public finances, debt, socil safety, investment and the financial services sector.
The Private Sector Assessment Report (PSAR) for St. Kitts and Nevis provides a comprehensive overview of the country's private sector. It draws on both primary and secondary primary data sources. Primary date analyses were derived from interviews with key stakeholders from the domestic private and public sectors as well interviews with regional and international agencies. A listing of the main stakeholders is documented in the original country report. Secondary data were utilised to describe the state of country at both the micro and macro levels. In addition to these specific elements of the research, the development of the PSAR was assisted by consultations organized under the Caribbean Growth Forum (CGF). The PSAR evaluates the components of the productive sector, the key challenges, potential emerging industries and policy recommendations for priority areas. The PSAR also suggests improvements to the general political and governance issues, access to finance, the cost of electricity and labour market issues as being vital in terms of driving future growth.
The Private Sector Assessment Report (PSAR) Provides a comprehensive overview of the private sector in Antigua and Barbuda. It draws on both primary and secondary primary data sources. Primary date analyses were derived from interviews with key stakeholders from the domestic private and public sectors as well interviews with regional and international agencies. A listing of the main stakeholders is documented in the original country report. Secondary data were utilised to describe the state of country at both the micro and macro levels. In addition to these specific elements of the research, the development of the PSAR was assisted by consultations organized under the Caribbean Growth Forum (CGF). The PSAR evaluates the primary components of the productive sector, the key challenges that it faces, potential emerging sectors and finally policy recommendations for priority areas. The PSAR identifies improvements in the areas of general governance, access to finance, general costs, and transportation and trade as being vital in terms of driving future growth.
Part 2 of Commonwealth Trade Review sheds light on the trends, nature and potential of intra-Commonwealth trade. It provides an analysis of trade between Commonwealth members – both in goods and services and in terms of intra-Commonwealth foreign direct investment (FDI) and remittance flows. It also undertakes empirical assessments of determinants of trade and investment flows between global economies to find out whether there is any inherent ‘Commonwealth effect’ providing impetus to increased trade propensity between Commonwealth members. It also provides some quantitative assessment of further trade prospects between Commonwealth members.
The European Union’s Economic Partnership Agree-ment (EPA) with fifteen Caribbean states came into effect in 2008. The deal was negotiated jointly by the members of the Caribbean Community (CARICOM: Antigua and Barbuda, the Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago) and the Domini-can Republic, operating jointly as the Caribbean Forum of African, Caribbean and Pacific States (CARIFORUM).
The document’s objective, as already laid out in the Cotonou Agreement of June 2000, extends far beyond the usual scope of a free trade agreement. The Euro-pean Union’s economic partnership agreements with African, Caribbean and Pacific states (ACP states) are explicitly intended to serve the ultimate objective of sustainable development, promote integration within the partner region, and link trade policy with develop-ment instruments. In other words, the European Union and the ACP states are seeking to establish a new class of agreement that moves beyond purely economic goals to address the sustainability factors that the international community has agreed to prioritise: social equilibrium and respect for the environment.
The report revisits the theme of low Caribbean growth, viewed through a macroeconomic lens in our previous report (Is there a Caribbean Sclerosis?), but takes a microeconomic perspective by using firm-level data. The performance of the private sector is crucial for a country’s economic growth and employment generation. As such, the results of the analysis are not comforting. In terms of sales growth, employment growth, efficiency, and total factor productivity, the Caribbean underperforms the rest of the small economies of the world. The gap is larger for commodity-dependent economies (Guyana, Suriname, and Trinidad and Tobago) than for tourism-dependent economies (Barbados, Jamaica, and The Bahamas). Thus, the existing Caribbean business sector is not up to the challenge to increase the region’s economic growth and employment and hence, to increase public resources and improve the welfare of citizens in the region.
Why? The report uses multiple approaches to identify the constraints to the private sector, constraints include the role of firm characteristics and constraints, including international trade and foreign direct investment, financing, crime, inadequate labour, electricity issues, lack of innovation, gender disparity, and government policies that are not good for business. The study estimates the contribution to the performance gap of the region’s existing endowments (i.e., the characteristics and constraints of the firms) as well as the returns to those characteristics and constraints. It finds that the returns contribute more to the gap than do characteristics and constraints themselves.
This paper estimates the trade, revenue, and welfare effects of the proposed Caribbean Community (CARICOM)–Canada free trade agreement (FTA) on CARICOM countries using a partial equilibrium model. The welfare analysis also takes into account the Economic Partnership Agreement, which was signed in 2008 by the CARIFORUM (CARICOM and the Dominican Republic) countries and the European Union. The revealed comparative advantage index, trade complementarity index, and transition probability matrices are used to examine the dynamics of comparative advantage for CARICOM countries’ exports to Canada. The results obtained from the partial equilibrium model indicate adverse revenue and welfare effects for CARICOM member states. The results from various trade indices used do not provide evidence to suggest that an FTA between CARICOM countries and Canada can improve trade outcomes.
This report seeks to redress the current paucity of information on growth-oriented women entrepreneurs in the Caribbean region by drawing on various data sources to estimate their numbers and sectoral focus. At the same time, it develops an understanding of the main issues facing women in their businesses and their future growth potential. Three main concepts are used throughout the report: entrepreneurship, innovation, and growthorientation. Entrepreneurship is used in its widest sense in relation to the support environment and the process of starting and running businesses. Innovation is considered the launching of new or improved products, services, processes, or business models to drive differentiation and/or efficiency for enhanced competitiveness. Growth orientation relates to individual drive, ambition, and potential to grow a business, while growth potential relates to the potential of the sector to grow.
This book provides users an understanding of key social protection concepts and measurement metrics and introduces them to the ADePT SP software, which is used to conduct social protection performance analysis. It presents the main concepts of social protection, including the typology of programs and their objectives. Because these objectives often include poverty and inequality, the concepts of poverty and inequality are also discussed in relation to social protection with the appropriate reference to the ADePT Poverty and Inequality software and book (Foster and others 2013). This manual describes methodologies for assessing social protection and discusses how measurement metrics, such as the poverty impact, require understanding the underlying mechanisms and often use multiple indicators. Attention is therefore given to a holistic approach of analysis so that the relationship between indicators can be better understood, as well as ways to use this analysis to improve policies and programs to maximize outcomes.
This book investigates the contribution of cities to productivity in Latin America and the Caribbean (LAC), a topic about which surprisingly little is known. The rapid economic growth that prevailed in the region during the first decade of the new millennium has, since the collapse of global commodity prices, given way to low, uneven growth in recent years. In this context, boosting productivity is critical to reviving economic growth in the region. And the potential of that great engine of growth—cities—cannot be left untapped. The book has two parts. Part I documents overall urbanization patterns across the LAC region and their relationship to productivity outcomes at the national and subnational levels,
compared with the rest of the world. Part II conducts a deeper, more rigorous analysis of the underlying determinants of productivity differences across LAC cities focusing on three key factors: city form, skills, and access to markets through transportation networks.
This Policy Research Report (PRR), Moving for Prosperity: Global Migration and Labor Markets, is an attempt to address this tension between the academic research and the public discourse by focusing on the economic evidence. We suggest a labor market–oriented, economically motivated rationale to the political opposition to migration. Global migration patterns lead to high concentrations of immigrants in certain places, industries, and occupations. For example, the top 10 destination countries account for 60 percent of global immigration. Four states host half of all immigrants in the United States, and 10 counties host half of the immigrants in these four states. Immigrants are further concentrated
in a narrow set of industries and occupations in specific geographic regions. The same pattern repeats itself in almost every major destination country. It is these geographic and labor market concentrations of immigrants that lead to increased anxiety, insecurity, and potentially significant short-term disruptions among native-born workers. Furthermore, the positive effects and benefits in the destination labor markets tend to be more diffuse whereas the costs are more concentrated and easily attributable to immigration.
Understanding (and empathizing with) these legitimate economic concerns is critical to informed and effective policy making. The goal should be to ease the costs of short-term dislocations of native-born workers and distribute more widely the economic benefits generated by labor mobility. Proactive interventions to ease the pain and share the gain from immigration are essential to avoid draconian restrictions on immigration that will hurt everybody. Ignoring the massive economic gains of immigration would be akin to leaving billions of hundred dollar bills on the sidewalk.
This PRR aims to inform and stimulate debate, contribute to better policies, facilitate further research, and identify prominent knowledge and data gaps. It presents key facts and findings, research methods and data sources on economic migration and refugees, the determinants of their decisions, and their impact on labor markets in both source and destination countries. We have in mind an audience of policy makers, think tanks, academics, students, the wider public, and, of course, our colleagues in the World Bank. The labor market focus of the PRR is motivated not only by the fact that important development and poverty implications of migration— the World Bank’s operational and analytical focus—work through these labor market channels. This focus also reflects space and time constraints, and the absence of rigorous research in certain other areas, which simply do not allow an all-encompassing report that covers every dimension of migration. We believe many of the social, cultural, and political dimensions are highly important; and we are certain future analytical work within and outside the World Bank will address these shortcomings.
The study on Business Opportunities for DR Firms in CARICOM was commissioned by Caribbean Export Development Agency (CEDA) in the framework of the Regional Private Sector Development Programme’s (RPSDP) implementation under the 11th European Development Fund (EDF), entrusted to CEDA by the CARIFORUM Directorate and the European Union. This study is intended to match a similar study identifying Business Opportunities for CARICOM Firms in the Dominican Republic, completed in 2015. Among the main objectives of the RPSDP is the promotion of trade and export development among CARIFORUM States. In addition, under the Component “Promoting stronger trade and investment cooperation between CARICOM and the Dominican Republic”, CEDA will support activities which can boost stronger trade cooperation among CARICOM and DR firms. The scope of this study was to undertake a market intelligence desk analysis focused on goods and services trade flows with a view to identifying and mapping products and services business opportunities, as well as potential distributors and/or business partners and specific market-entry constraints limiting the increase of DR’s market share in CARICOM countries.
After a long period of stagnating prices, the global bauxite market is experiencing changes which are expected to drive prices higher. To a large extent, these changes are driven by increasing demand from Chinese manufacturing. However, constraints on exports imposed by major bauxite producers, such as Indonesia and India have affected the supply side as well, and represent an opportunity for Caribbean bauxite exporters to increase their share of a growing market. This Policy Brief provides an overview of the aforementioned changes in market conditions and proposes a new approach to organizing bauxite mining for the Caribbean bauxite exporters.
While citizen security has become an ever-increasing concern for many Caribbean countries, the magnitude of the problem has not been matched with an equally robust response in terms of research. Cross-national studies on the prevalence, causes, and effects of violence in the region are few. Empirical studies showing which policies have worked to reduce crime in the Caribbean are even scarcer. This volume analyses new data collected in household and business victimization surveys. These surveys allow us to understand crime from a primary source—the victims themselves. As such, this study goes beyond much of the existing literature, which relies primarily on police data. It contributes new information to our understanding of crime patterns, victim profiles, determinants of particular types of crime, and directions for crime reduction in the region.
Unclogging the Arteries: The Impact of Transport Costs on Latin American and Caribbean Trade exemplifies this commitment and is the first in a series of reports that the Integration and Trade Sector of the Inter-American Development Bank is preparing on this important agenda. The report combines a robust technical analysis using large and detailed databases with a series of case studies that provide vivid accounts of the problems on the ground. This combination of approaches gives a comprehensive view of the significance of transport costs as a barrier to trade in the region. The report calls for a broader and more balanced integration agenda, which would focus not only on the traditional barriers to trade, but also on costs, such as those associated with transport-related infrastructure.
The Caribbean Agricultural Research and Development Institute (CARDI) in conjunction with European Union (EU) and the Common Fund for Commodities (CFC) established a project to contribute to the improvement of livelihoods along the Root and Tuber Crop Commodity Chains in the Caribbean through appropriate marketing and production technologies.
The objectives of the project are:
i. To increase the demand for fresh and value-added products of the selected root and tuber crops in the local and regional markets.
ii. To strengthen existing production groups and the formation of clusters that will improve the activities along the commodity value chains.
iii. To improve the knowledge and skill of actors along the value chains through training in and dissemination of production, post- harvest, processing, and marketing techniques
iv. To produce and distribute high quality planting materials of cassava, sweet potato and yam through the establishment of appropriate propagation facilities
v. To demonstrate and, as necessary, validate technological innovations in root and tuber crop production and use
This market analysis is an output of objective (i) above and focuses on selected root and tuber crops, namely, cassava, sweet potato, yam and coco yam in the CARICOM Region as well as on their export to the USA, Canada and the United Kingdom.
This Best Practice Manual is the result of extensive outreach and analysis conducted to identify the leading state and local-level best practices in renewable energy and energy efficiency programmes in African, Caribbean and Pacific countries. The brochure describes in the region 19 of these best practices, and includes examples of their effective implementation in countries or cities across the ACP region. These include policies, regulations, capacity-building initiatives and financing mechanisms to create favourable market conditions for energy efficiency and renewable energy projects, as well as for their replicability, relative ease of implementation, measured energy savings, ability to offset the need for conventional energy, cost effectiveness, greenhouse gas emissions reduction and to enhance gender equity and job creation.
The study analyzes each CARICOM country’s trade relationship with the Dominican Republic, finding business opportunities for certain products that are currently not imported from CARICOM countries into the Dominican Republic. The methodology used to compile this list of opportunities involved a comparison of current exports from each CARICOM country to the Dominican Republic and each CARICOM country’s total exports to the rest of the world in the last five years. This was later narrowed down by eliminating products which the DR would not typically import, and incorporating expert opinions and results from interviews. The main finding of this study is that there is plenty of opportunities to broaden trade relationships between the Dominican Republic and the CARICOM countries, and will require a better and broader flow of information between the countries.
This study examined the potential for an increased flow of agro-processed goods and professional services between CARIFORUM states and Curaçao. Specifically, the study was required to examine the current trading activity and trends between CARIFORUM Countries and Curaçao; identify the business opportunities within the agro-processing sector and professional services for each market; make recommendations to improve the regulatory framework and to remove the impediments to trade between these countries and identify the extent to which CARIFORUM goods and services could access the EU market through Curaçao.
The report provides findings and recommendations that will benefit Caribbean Export and the CARIFORUM – FCOR - OCT Task Force on Trade and Investment in formulating strategies and policy responses that are targeted at deepening the level of trade and investment between CARIFORUM states and Curaçao.
This CBI market survey profiles the coffee, tea and cocoa market in the EU. The coffee, tea and cocoa markets in individual EU countries are discussed in separate market surveys. These market surveys, as well as EU export marketing guidelines for coffee, tea and cocoa can be downloaded from http://www.cbi.eu/marketinfo.
Guyana is a country with abundant mineral wealth. Extractive industries, along with agriculture, drive the economy. Mining poses several inherent challenges due to its negative impact on the environment, its relatively high level of capital intensity compared to other main productive activities, and the heavy enforcement demands on understaffed and underfunded regulatory institutions, especially when the vast majority of miners are highly dispersed artisanal, small, medium-scale (ASM) miners. This paper surveys recent developments and trends in the Guyanese gold mining sector, the most important of the five mining subsectors, and analyses the issues surrounding the transition to more environmentally sustainable mining practices. Perverse incentives exist between maximizing private profits, honoring government royalty payments, generating gainful employment, on the one hand, and overcoming the economic and cost constraints of complying with environmentally responsible and sustainable practices in the ASM sector, on the other. The paper makes recommendations on how to better align incentives, especially to bridge the financing and knowledge gaps, to permit optimal extraction of the resource, promote environmental sustainability, and improve public–private collaboration.
Despite their economic significance, MSMEs face challenges that hinder their growth and development. It is therefore critical and logical, that the Government of Jamaica (GOJ) place MSME development at the forefront of the country’s economic policy agenda. The MSME and Entrepreneurship Policy provides a coordinated, coherent and targeted framework and this review of the 2013 Policy reflects an updated policy framework designed to support the growth of MSMEs.
The study examined the degree to which Caribbean Entertainment products and services have grown among the islands and have extended into wider international markets. For purposes of the present exercise, the Entertainment Sector is comprised of Caribbean festivals of ‘Mas’ or Trinidad Style carnivals, Reggae, Jazz and Creole Music Festivals, Music – Reggae, Dancehall, Calypso, Soca, Chutney, Parang, Creole, Zouk and Spouge - Film and other Audio-visual Production. Five countries were specifically targeted in deriving primary data: Barbados, Dominica, Jamaica, St. Lucia and Trinidad and Tobago. A topic guide was used in the conduct of interviews among key protagonists and institutions in these countries. A small number of entertainers and other key informants were interviewed.
The study was conducted within 9 selected CARIFORUM and 6 EU member states (UK, France, Germany, Spain, the Netherlands and Ireland) over a period of 5 months in 2010. The study comprised extensive desk research, meetings with stakeholders, and included a validation work shop staged in Barbados in July 2010. Outlines some of the main characteristics of the prevailing policies governing investment and trade in services within the EU, with particular focus on 6 EU member states, viz. the UK, France, Germany, Spain, the Netherlands and Ireland. Summarizes their ease of doing business, their priorities for both inward and outward investment with respect to the services sectors and their respective frameworks for investment support, while noting existing and potential linkages with the CARIFORUM economies.
This document provides an overview of socio-ecomonic conditions in the Guyana. Looks at government's attitude and incentives, the business environment, investment climate, market access conditions, general marketing factors and cultural practices in the country. Also provides general information including population, geography, political system and transport infrastructure within the Guyana.
Paper presented by Virginia Maria Roca Pezzotti at the 2nd Meeting of the Caribbean Design Network, December 10, 2009, Dominican Republic entitled "Development and Current Status of Dominican Crafts
Paper presented by Virginia Maria Roca Pezzotti at the 2nd Meeting of the Caribbean Design Network, December 10, 2009, Dominican Republic updating on the progress made in the Haiti National Design Network.
Paper presented by Jennifer Julien-Laudat at the 2nd Meeting of the Caribbean Design Network, December 10, 2009, Dominican Republic entitled "National Designers Brainstorming Meetings Report".
Paper presented by Patti Johnson at the 2nd Meeting of the Caribbean Design Network, December 10, 2009, Dominican Republic.
Paper presented by Lesley-Ann Noel at the 2nd Meeting of the Caribbean Design Network, December 10, 2009, Dominican Republic entitled "Trinidad and Tobago Design Network"
So trade policy has expanded, has become much more complex. Hence the focus in this assessment, not just on market opening, multilateral trade policy, etc, but also on questions of development, transparency and legitimacy, the impact on key sectors, and social / societal questions. This can reveal for how far trade policy drives our collective preferences, and also the point of interaction with the preferences of others. This paper therefore sets out six groups of topics where we have focused our efforts under the Prodi Commission:1 Multilateralism; 2 Opening of markets; 3: Development; 4: Transparency / legitimacy; 5: Key sectors; 6: Social / societal Questions.
This study highlights potential areas for mutual growth in the goods and services sectors and possible improvements to the regulatory framework. Ways in which CARIFORUM goods could gain access to the EU via the French Caribbean Outermost Regions (FCORs) are also analysed.
Each country/territory report provides details on: Socioeconomic characteristics of each country/territory; Proximity to main international destinations; Critical information relating to doing business – regulatory environment, tax rates, procedure for starting a business, etc; Commitments made under the EPA; Commodity exports to the FCORs (from CARIFORUM) and to CARIFORUM (from the FCORs); Opportunities in terms of goods and services that should be targeted for trade between CARIFORUM and the FCORs and Barriers to trade.
This survey profiles the EU market for “Gifts and decorative articles” (2008). The emphasis of this survey lies on those products which are of importance to suppliers based in developing countries. The product groups discussed in this survey include: Candles, Woodware, Wickerwork, Artificial flowers & fruits, Ceramics, Glassware, Metalware, Plasticware and Paperware.
The Strategy aims to achieve this by establishing export promotion as a key instrument of Belize’s competitiveness and international relations, but within the context of the country’s medium to long term strategic national development objectives and imperatives. This will allow for two things: (i) attraction of investments into dynamic high growth potential niche markets while building capacity in the sectors with export performance development potential; and (ii) Belize will be able to aggressively pursue development of export markets for its niches products and services and to better identify its key strategic partner countries in development and trade by leveraging trade and export promotion as instruments of national development, environmental sustainability, and pro-poor growth. This should lead to real poverty reduction, and Belize would, as a consequence of all of the above, be better positioned to achieve its Millennium Development Goals (MDGs) objectives and obligations.
During the 1980s and 1990s, financial sectors were the Achilles’ heel of economic development in Latin America and the Caribbean (LAC). Since then, these sectors have grown and deepened, becoming more integrated and competitive, with new actors, markets, and instruments springing up and financial inclusion broadening. To crown these achievements, the region’s financial systems were left largely unscathed by the global financial crisis of 2008–09. Now that the successes of LAC’s macrofinancial stability are widely recognized and tested, it is high time for an in-depth stocktaking of what remains to be done. Financial Development in Latin America and the Caribbean: The Road Ahead provides both a stocktaking and a forward-looking assessment of the region’s financial development. Rather than going into detail about sector-specific issues, the report focuses on the main architectural issues, overall perspectives, and interconnections. The report’s value added thus hinges on its holistic view of the development process, its broad coverage of the financial services industry beyond banking, its emphasis on benchmarking, its systemic perspective, and its explicit effort to incorporate the lessons from the recent global financial crisis. Financial Development in Latin America and the Caribbean: The Road Ahead builds on and complements several overview studies on financial development in both LAC countries and the developing world that were published in the past decade. It will be of interest to policy makers and financial analysts interested in improving the financial sector in the LAC region.
This document provides an overview of socio-ecomonic conditions in Colombia. Looks at government's attitude and incentives, the business environment, investment climate, market access conditions, general marketing factors and cultural practices in the country. Also provides general information including population, geography, political system and transport infrastructure within Colombia.
This market brief provides information on the opportunities available for small and medium-sized enterprises (SMEs) in the CARICOM Single Market and Economy (CSME) in engineering services.
This market brief provides information on the opportunities available for small and medium-sized enterprises (SMEs) in the CARICOM Single Market and Economy (CSME) in fashion.
This market brief provides information on the opportunities available for small and medium-sized enterprises (SMEs) in the CARICOM Single Market and Economy (CSME) in furniture.
This market brief provides information on the opportunities available for small and medium-sized enterprises (SMEs) in the CARICOM Single Market and Economy (CSME) in handicrafts.
This market brief provides information on the opportunities available for small and medium-sized enterprises (SMEs) in the CARICOM Single Market and Economy (CSME) in health and wellness services.
This market brief provides information on the opportunities available for small and medium-sized enterprises (SMEs) in the CARICOM Single Market and Economy (CSME) in management consulting services.
This market brief provides information on the opportunities available for small and medium-sized enterprises (SMEs) in the CARICOM Single Market and Economy (CSME) in processed foods.
This paper tries to fill this lacunae by providing a selective, although fairly comprehensive, discussion of some of the main developmental issues posed by the FTAA and FTAs. This is an issues paper. Its main objective is to raise relevant questions and review different academic and expert positions as well as existing empirical research results surrounding them. In light of the complexity of the subject matter, it would be over-ambitious to provide definite answers to these issues. Thus the spirit of this paper is more analytical and positive than normative or prescriptive.
The paper considers the developmental benefits and issues posed by the FTAA and FTAs in general, for LAC countries grouping them under six issue areas: (i) market access issues in industrial goods and agriculture; (ii) market access and rules issues in services and investment; (iii) other rules related issues in areas such as intellectual property, subsidies and industrial policy; (iv) the question of treatment of differences in size and levels of development, (v) technical assistance and capacity building issues, and finally, (vi) governance issues and the relationship between open markets and political institutions. In terms of trade rules in a number of areas, World Trade Organization (WTO) agreements provide – if not the floor – at least a very important reference point for the FTAA. Given this fact, this paper makes frequent reference to WTO rules and their developmental implications.
The objective of this paper is threefold: to review the demand, and the case, for regional public goods in the light of growing integration; to report on the response of certain international organizations and the system of official development assistance to perceived growth in the demand of these goods; and to analyze the challenges of financing regional public goods.
The purpose of this document is to describe, analyze and assess export promotion policies in the case of CARICOM Caribbean economies. The document is divided into six sections. Following the introduction, the first section provides the context for export promotion policies by analyzing how size and geography can shape export promotion efforts and their outcome. The second section focuses on CARICOM Caribbean economies’ export promotion objectives. The argument in this section is that smaller economies pursue three types of export promotion objectives. These are to secure markets, to maximize foreign exchange earnings, and to promote product recognition. Securing markets, which is analyzed at the national and regional levels, involves niche-market production for non- traditional products and preferential market access for traditional products. The exception to the rule is Guyana that has managed to create an ethnic niche-market for its agricultural products. The section also argues that smaller economies do not pursue, with a few exceptions, export diversification.
The third section examines the institutional setting and instruments for export promotion policies. For historical reasons and also due to the constraints imposed by small size, the government rather than the private sector is the major export promotion agent. The instruments for export promotion include the Common External Tariff, fiscal incentives, government capital expenditure, export financing schemes and trade diplomacy. The fourth section analyses the implications and impact of export promotion policies. It sustains that CARICOM Caribbean economies have lost market share in the goods market for their major extra-regional markets and gained market share at the intraregional level. In the services sector and in particular in tourism, CARICOM Caribbean states have also lost market share to the lower costs producers such as the Dominican Republic, Puerto Rico and Mexico.
The PowerPoint presentation provides an overview of the challenges in the implementation of services and investment in the EPA.
The paper focuses on electronic commerce and the opportunities and challenges it creates for the CARICOM region. Section I presents an overview of e-commerce and explores the relevance of this medium for the Caribbean. Section II examines e-commerce in the context of CARICOM countries and national policy initiatives in this area. Section III discusses the pre-requisites for successful e-commerce and assesses the factors affecting it in the Region. Section IV examines trade policy and negotiation issues relating to e-commerce in the multilateral and hemispheric contexts; and Section V provides recommendations for a CARICOM position.
The report contains five chapters. After the introduction, the second chapter examines the external trade policy of the region. It identifies priorities and policy options among the different set of negotiations, taking the issue of sequencing into account. In addition, it analyses the institutional framework for the negotations. Capacity building is an important issue in this context. Chapter 3 deals with the role of the CSME in the context of the external trade negotiations and the repositioning process. It addresses the progress in implementing liberalisation of the movement of goods, services, labour and capital and assesses progress on macroeconomic convergence. Finally, opportunities provided by the trade and co-operation agreements with other countries in the region are examined, notably with Haiti, The Dominican Republic, Cuba, Venezuela, Colombia, the OCTs and DOMS and with Latin America. Chapter 4 examines the impact of liberalisation and resulting restructuring and policy options, referred to as the process of strategic global repositioning. It analyses which sectors are likely to loose and which sectors may gain from liberalisation. In addition, it identifies the options for policy makers for stimulating a supply response. These policy options cover infrastructure, improving access to finance and stimulating knowledge driven sectors, but also private sector support through the promotion of co-operation and clustering between businesses, and through providing business support services. The final chapter concludes and provides recommendations for strategy and policy and identifies the areas that need to be strengthened.
The study commissioned by Caribbean Export, aims at developing a strategy for the development of the Caribbean management consulting industry. According to the study, the market for management consulting services is two-tiered, with a top level that dominates in value and a low level that dominates in client numbers. 63.4% of clients spend under US$100,000 annually on consulting assignments, accounting for just 10.1% of the market, while 12.9% of clients spend over US$500,000 each year, accounting for about 62.3% of the market.
Strengthening the development of small and medium enterprises (SMEs) of the British and Dutch Overseas Countries and Territories (OCTs) in the Caribbean region presented by the EU Delegation to Barbados and the Eastern Caribbean at the 6th Meeting of the CARIFIRUM/FCOR/OCT Task Force on Trade and Investment, Martinique, October 27, 2010.
Trinidad and Tobago Coalition of Services Industries (TTCSI) Presentation on the Trade mission to Guadeloupe and Martinique at the 6th Meeting of the CARIFORUM/FCOR/OCT Task Force on Trade and Investment, Martinique, October 27, 2010.
Jamaica's strategy for increasing services exports to the FCORs/OCTs - presented at the 6th Meeting of the CARIFORUM/FCOR/OCT Task Force on Trade and Investment, Martinique, October, 2010
Doing Business between CARIFORUM and Curacao presented at the 6th Meeting of the CARIFORUM/FCOR/OCT Task Force on Trade and Investment, Martinique, October 27, 2010
Presented by the Chair of the CARIFORUM/FCOR/OCT Task Force on Interconnectivity at the 6th Meeting of the CARIFORUM/FCOR/OCT Task Force on Trade and Investment, Martinique, Ictober 27, 2010
Consultancy on opportunities for doing business between CARIFORUM States and the French Outermost Regions (FCORs) presented at the Task Force Meeting, October, 2010 by Noel Watson and Lucia Angelo.
This study deals with institutional and legal framework of the CSME; intra-regional market access; CARICOM's sectoral development policies; the macroeconomic framework; prioritisation action plan and the role of donors. Please visit http://www.oecs.org/oecs-library/e-union/caricom-single-market-and-economy-assessment-of-the-region-s-support-needs-june-24-2003opt3-pdf for an e-copy of the publication.
This report suggests areas where Governments can provide an appropriate framework for the private sector to develop. It also recognises that not all CARIFORUM countries will be able to sustain an export fishing industry and as such not all recommendations will be applicable to all CARIFORUM countries. The report also suggests that regional organisations such as CARIFORUM can make a substantial contribution to building the sustainability of the fishing industries of CARIFORUM countries through agencies such as the proposed CAHFSA agency. As such, this report is directed toward CARIFORUM Governments, CARIFORUM donor agencies and the private sector.
Crowdfunding’s Potential in the Caribbean: A Preliminary Assessment, was commissioned by infoDev, a global technology and innovation program at the World Bank Group. This is the second in a series of studies published by infoDev on the topic, the first being Crowdfunding’s Potential for the Developing World (infoDev 2013). Since it is the first study to focus on developing crowdfunding in the Caribbean, it provides a preliminary assessment with the objective of disseminating information that can be utilized by the many different actors in the Caribbean entrepreneurial ecosystem. The intended audience for this introductory paper includes key Caribbean stakeholders concerned with access to finance, specifically: the private sector, the business enabler community, governments and regulatory bodies, and international financial institutions.
This report’s scope is a preliminary assessment of the potential viability of crowdfunding in the Caribbean, which serves as an initial step for further research. It examines three essential elements, which are the building blocks of a well-functioning crowdfunding ecosystem:
For this assessment, the methodology was to conduct extensive in-person interviews with over 70 stakeholders from the public and private sector in Saint Lucia, Trinidad and Tobago, Barbados, and Jamaica. These countries were selected to provide input from nations with varying populations, geographic locations (including The Organization of Eastern Caribbean States) and economic development. The findings from the survey revealed that, so far, there have been only experimental levels of crowdfunding in the Caribbean. This experimentation has occurred primarily on U.S.-based crowdfunding platforms (for example, Kickstarter, Indiegogo, and GoFundMe). The growing utilization of the Internet and social media facilitated by existing networks for remittance capital flows has resulted in the emergence of a handful of nascent Caribbean platforms. However, the Caribbean culture of being risk adverse and low in trust for online financial systems coupled with the low awareness of crowdfunding in the region are barriers to widespread adoption.
This document outlines the international context for our agenda to strengthen aid effectiveness and the principles that will guide our efforts. These include providing increased attention to the leadership role of developing countries, promoting greater coordination with other donors, and fostering greater coherence in Canada’s policies that affect our developing-country partners. In keeping with the principles, this document identifies the framework within which decisions will be made on the geographical and sectoral allocation of CIDA’s resources. It also identifies changes in tied aid policies designed to reinforce aid effectiveness and the steps we are taking to strengthen CIDA as an institution.
The outlook for 2014 is slow growth in most of the individual economies. IMF projections show eight countries growing faster in 2014 than in 2013 but no faster than 2.7 per cent. In the countries projected to grow less rapidly in 2014, namely Guyana, Haiti and Suriname, the growth rate is expected to be in the region of four per cent. Inflation rates are projected to increase in ten of the 14 countries, with inflation abating in only Barbados, Jamaica and Trinidad and Tobago. The external balance is expected to improve in eight countries and to deteriorate in five others. Government finances are projected to remain problematic with the primary balance expected to deteriorate in five countries and with the gross debt ratio increasing in 12 countries, including countries which are already highly indebted.
Reviews and discuss the various modalities in which trade information can be distributed to target end-users. Includes examples illustrating the various option at hand. Hard copy document only.
Includes profiles of 152 sources of information that can be used to locate importers. Hard copy document only.
The workshop was the culmination of country studies that were carried out under an Italian Government-funded project to assess the policies, institutions and instruments for dynamic Small and Medium-sized Enterprises (SMEs) development competitiveness in Jamaica, Suriname and Trinidad and Tobago. The aim was to use the lessons learned from the three countries to inform policy and practice in the other member countries of the Caribbean Development and Cooperation Committee (CDCC).
This document represents the first step in the process to develop an Agency Strategic Plan. This document is a position paper, a snapshot of the Agency’s priorities and direction. It seeks to inform stakeholders – member states, CARICOM Secretariat, CARIFORUM Directorate, OECS Secretariat, our exporter and investor clients, national promotional and business support organisations, international and regional development partners and the general public – about the work of Caribbean Export and our current priorities and directions.
Please see WTO website http://www.wto.org/english/tratop_e/tpr_e/tp_rep_e.htm#bycountry.
This document provides an overview of socio-ecomonic conditions in Trinidad and Tobago. Looks at government's attitude and incentives, the business environment, investment climate, market access conditions, general marketing factors and cultural practices in the country. Also provides general information including population, geography, political system and transport infrastructure within Trinidad and Tobago.
This report offers a detailed assessment of recent progress achieved in the three main areas of the integration process: economic integration, foreign policy coordination and functional cooperation. It also analyses the determinants of integration - what drives it, what slows it down - in an effort to generate a better understanding of the challenges and prospects of the Caribbean integration process.
The Caribbean’s location at the crossroads of global container shipping routes gives the region excellent maritime connectivity that could translate into significant commercial opportunities. Given its heavy dependence on trade, Caribbean authorities are increasingly vested in improving the efficiency of supply chains and addressing issues related to maritime transport and logistics. In the context of the Panama Canal expansion, it is of the utmost important that steps be taken immediately to strengthen the Caribbean’s position in global maritime trade routes. The Caribbean Regional Action Plan on Freight Logistics, Maritime Transport and Trade Facilitation reviews the status of trade and transport infrastructure in the Caribbean Basin, with particular emphasis on CARIFORUM countries. The study highlights the main trends in global and regional trade flows in the region, estimates the impact of these trends on the shipping industry and selected Caribbean Basin ports, and proposes a regional Action Plan for taking advantage of new commercial opportunities.
The Private Sector Assessment Report (PSAR) provides a comprehensive overview of the private sector in St. Lucia. It draws on both primary and secondary data sources. Primary data analyses were derived from interviews with key stakeholders from the domestic private and public sectors as well as interviews with regional and international agencies. A listing of the main stakeholders in each country is documented in the original country reports. Secondary data wereutilized to describe the state of the country at both the micro and macro levels. In addition to these specific elements of the research, the development of the PSAR was assisted by consultations organized under the Caribbean Growth Forum2 (CGF) banner.
The PSAR analyses the characteristics and primary components of the private sector, key challenges to private-sector development, emerging sectors, and finally presents an action plan for the promotionof private-sector development. The PSAR suggests that the government should focus on improvement and utilization of technology and on strengthening the labour force.
This hand-book is designed to put the right information into the hands of our tourism industry to make sure we take full advantage of the EPA. Written in as straightforward and accessible a style as possible, this hand-book summarises the provisions in the Agreement which will affect tourism. It provides a country-by country breakdown of the Caribbean’s EPA commitments to reduce tariffs on European goods and to allow European firms to provide services in our region, and it gives a full analysis of the development funding which is available and how to access it. If as a result of exploring this handbook you have specific or detailed enquiries about the EPA, CHTA is additionally able to provide through specialists a practical advice service by telephone or email. More detailed information about this service and full access to an on-line version of the report are available from our website www.caribbeanhotelassociation.com.
The first step is to talk. Essentially, the WTO is a place where member governments go, to try to sort out the trade problems they face with each other. At its heart are WTO agreements, negotiated and signed by the bulk of the world’s trading nations. But the WTO is not just about liberalizing trade, and in some circumstances its rules support maintaining trade barriers — for example to protect consumers, prevent the spread of disease or protect the environment. For further information visit www.wto.org.
Odyssey in International Markets is the second report of the Integration and Trade Sector of the Inter-American Development Bank aimed at helping countries in Latin America and the Caribbean identify obstacles that stand in the way of more effective integration into the world economy and design policies to reduce these impediments to trade. The report first makes a comprehensive analysis of export promotion organizations in some three dozen countries and regions. Second, it provides robust evaluations, using state-of-the-art econometrics and original datasets, of the impacts that policies have had on export outcomes of countries and firms. The report is supported by rigorous background studies that are available as IDB Working Papers through the Bank´s website. Based on the findings of this report, it appears that export promotion seems to have been effective in facilitating export expansion, especially along the extensive margin (i.e., diversification). At the same time, the report points to areas where further research would produce deeper insights into its relative merits.
The objective of this report is to set out the opportunities that arise from this Agreement; to provide trade data; and outline the regulatory framework for providing selected professional services in 8 Member States of the EU and to assist the CARIFORUM countries and the relevant professional associations within them in making the necessary adjustments and informing negotiations so as to maximize the benefits envisaged by the EPA.
The paper addresses the issue on the interaction between monetary and macroprudential policies in small open economies for different exchange rate regimes. The need for macroprudential policy arises from exacerbated macroeconomic fluctuations due to frictions in the financial system as in Bernanke, Gertler and Gilchrist (1999). Understanding these dynamics in developing nations has been even more important after the most recent events of the Great Recession. Policy makers within the scrutinized economies will see the exact magnitude of shocks caused by changes in financial frictions, monetary and macroprudential policy. Exchange rate considerations are also brought to the fore, by assessing the effects of these policies on two emerging economies from the Caribbean with differing monetary policy frameworks. Despite differences between flexible and fear of floating exchange rate regimes, macroprudential policies implementation help mitigate the effects of credit supply shocks affecting regional economies.
This study uses simulations of state-dependent distributions of fiscal limits for 18 economies in Central America and the Caribbean to better understand governments’ ability to service their debt, arising from endogenously determined dynamic Laffer curves. Using a small, open economy model to simulate macroeconomic fundamentals and fiscal policy interactions, the empirical findings produced results not previous available for these economies, showing varying and wider distributions of fiscal limits for the open economy model subject to terms-of-trade and flexible exchange rate shocks. This indicates that terms-of-trade and exchange rate volatility impacted the ability of national economies to service their debt. It is therefore prudent that policymakers and central bankers consider models that incorporate the use of trade and exchange rate volatility as a robust way of more accurately determining fiscal limits, which are a critical component in understanding governments’ ability to service their debt.
This booklet discusses the text of the TBT Agreement as it appears in the Final Act of the Uruguay Round of Multilateral Trade Negotiations, signed in Marrakesh on 15 April 1994. This agreement and others contained in the Final Act, along with the amended General Agreement on Tariffs and Trade (GATT 1994), are part of the treaty which established the WTO. The WTO superseded the GATT as the umbrella organization for international trade.
The WTO Secretariat has prepared this booklet to assist public understanding of the TBT Agreement. The booklet first presents the basic structure of WTO agreements. It then provides a brief overview of the background, purpose and scope of the TBT Agreement, as well as the types of measures it covers. It sets out the key principles of the Agreement, and discusses how these have been addressed in recent disputes brought under the TBT Agreement. It next focuses on transparency, a cornerstone of the TBT Agreement. It also describes the mandate, role and work of the TBT Committee, and considers how TBT-related matters have arisen in the Doha Round negotiations. A separate section addresses a number of frequently asked questions about the Agreement. The booklet also contains the full text of the TBT Agreement, decisions and recommendations by the TBT Committee, a list of observers in the TBT Committee and an example of a typical TBT notification.
De-risking has the potential to develop into a threat to Barbados posing a challenge to the country's continued development and economic stability if left unchecked. Early indications are that the de-risking phenomenon may have already begun to erode Barbados’ competitive position as a leading IFC in the Caribbean region. Any sustained loss of IBC business for Barbados will undoubtedly lower government tax receipts, negatively impact employment, and could impact the level of FX availability in the domestic financial system.
This policy brief answers three main questions with respect to the no-user-fee policy adopted across public health centres in Jamaica: (i) Has the policy improved health status among working age adults? (ii) Has the policy influenced labour market dynamics? (iii) Has the policy had differential effects by age groups? Evidence suggests that the policy improved overall health status, as the likelihood of suffering illnesses associated with inability to carry out normal activities decreased by 28.6 percent. In addition, the number of days where people were unable to perform normal activities due to illnesses suffered within the previous four weeks decreased by 34 percent. Regarding labour market dynamics, no effects are found on the likelihood of being employed or contributing to the National Insurance Scheme. However, consistent with a reduced number of days lost due to illnesses, we find a positive effect of 2.15 additional weekly labour hours. Finally, we find that all of these positive effects are concentrated within adults in the 40– 64 year-old age range. Overall, these effects suggest that the policy added a yearly average of US$PPP 26.6 million worth of net real production to the Jamaican economy during the period 2008–12.
This directory provides a list of the membership of the Trinidad and Tobago Manufacturers' Association (TTMA).
This report was prepared on behalf of the International Trade Center. It draws on primary information from field interviews in Dominican Republic, Jamaica, and Guyana during July-August 2015 and phone interviews with stakeholders in Belize, Suriname, St Lucia, St Vincent and Grenadines, and Trinidad and Tobago during September-November 2015. The aftermath of Tropical Storm Erika in Dominica in August 2015 did not permit primary research in the country. The coconut global value chain (GVC) is at a critical juncture, characterized by a rapidly growing demand in global markets and a stagnant supply base in danger of collapse in origin countries. Since the early 2000s, breakthroughs in processing technology and consumer awareness about the health benefits of coconut water have remarkably expanded markets beyond the tropics. Coconut value chains in the Caribbean region have mirrored the positive global market trends. Informed by the ‘multi-level perspective’, the report presents detailed analysis and recommendations for the Caribbean countries.
This study examines factors relating to the profile of firms, macroeconomic conditions, the business climate, and laments of businesspersons as possible constraints to performance. The findings reveal that an unfavorable macroeconomic environment and business climate affects all firms in the private sector. With respect to the former, the main issue relates to an overvalued exchange rate—a negative externality of being hydrocarbon-dependent. An unfavorable business climate reflects government policies, regulations, and public services that hinder rather than promote a dynamic, export-oriented and innovative private sector. Moreover, the profile of private sector firms—an important determinant of performance—is unfavourable in terms of age, size, legal form, and trade orientation. Estimates from this study suggests limited access to financing, and labour and crime constraints are the three main microeconomic factors that weigh negatively on the sales growth of firms.