Moontown

Among the matters to be considered is the incorporation of the Caribbean Regional Negotiating Machinery (CRNM) into the CARICOM Secretariat as a specialised department. The assimilation of the CRNM into the Secretariat was endorsed at the 20th Inter-sessional Meeting of the Conference of Heads of Government, Belize, 12-13 March 2009.

The CARICOM Prime Ministerial Sub-Committee on External Negotiations will also examine the preparations for the commencement of the CARICOM-Canada Negotiations for a Trade and Development Agreement.

Senior Trade Officials of CARICOM and Canada had been engaged in exploratory technical discussions to identify the broad subject scope and structure of the negotiations. Heads of Government, at their Inter-sessional Meeting in Belize, approved the draft CARICOM Negotiating Brief to be used as the basis for the commencement of negotiations.

Wednesday’s Prime Ministerial Sub-Committee meeting was also due to consider matters related to the implementation of Caribbean Forum of African Caribbean and Pacific States (CARIFORUM)-European Community (EC) Economic Partnership Agreement (EPA) signed in October 2008.

In February 2009 the CARICOM Secretariat had established a Unit to coordinate the implementation of the Agreement, in keeping with a mandate handed down by the Heads of Government. The provisional application of the EPA became effective on December 29, 2008.

CARICOM’s future external trade negotiations agenda of CARICOM and regional developments related to Bananas are also on the Meeting’s agenda.

The Prime Ministerial Sub-Committee on External Negotiations of the Caribbean Community will be convened ahead of the opening of 30th Meeting of the Caribbean Community Conference of Heads of Government on July 2, 2009 in Georgetown, Guyana.

BRIDGETOWN, Barbados (BGIS) — Sustainable finance has been identified by Acting Minister of the Environment, Senator Haynesley Benn, as a key opportunity for growth for Barbados and the wider Caribbean, in light of the economic slowdown being faced by some of the region’s major trading partners.

Senator Haynesley Benn

Benn cited reductions in tourism receipts, remittance levels and direct foreign investments among the resultant factors of the economic crisis. He told a recent sustainable finance breakfast that “in the face of adversity, opportunity also exists.”

“As a region weathering this economic storm we are responsible enough to recognise, and admit our weaknesses and vulnerabilities. These same qualities spur us on, not only to identify, but to firmly grasp feasible solutions that present themselves in these difficult times and sustainable finance represents one such opportunity,” he told the forum, which had as its theme: ‘Sustainable Finance in the Caribbean: Building the Business case and Next Steps’.

Benn assured the gathering that government was committed to articulating broad national sustainability goals, and more specifically, to facilitating ongoing dialogue and awareness of the issue.

“We will also support initiatives by the sector to build capacities in such areas as Environmental and Social Risk Analysis, as well as working collaboratively to support the overall environmental performance within business and industry. We certainly see this as a competitive niche for Barbados-based enterprises in a growing global green economy,” he stressed.

The Acting Environment Minister further pledged Government’s support of the development and implementation of a sustainability agenda in the local financial sector, as well as of the work of the Barbados Sustainable Finance Group.

“Government also supports the call for the establishment of a Caribbean Sustainable Finance Group to champion the effort across the Caribbean and present a unified, regional position at the international level,” Benn added. He however, advised the senior banking executives that the feasibility of establishing a Caribbean Sustainable Finance Group depended largely on the continuation of their work to date.

The breakfast meeting was organised by the Barbados Sustainable Finance Group in collaboration with the Barbados Bankers’ Association and the Ministry of the Environment, Water Resources and Drainage. It sought primarily to raise the awareness of sustainable finance issues among stakeholders.

Commonwealth Secretary-General Kamalesh Sharma. AFP PHOTO

“In coming now to Guyana for CARICOM, I shall be amongst 12 Commonwealth countries in the Caribbean which have so much to share – and never more so than now, in straitened times for all. This region will also host the Commonwealth Heads of Government Meeting in Port of Spain, Trinidad and Tobago, in November, and will want to ensure then that Caribbean challenges are shared across the board, with fellow member countries from five continents,” said Sharma.

“Meanwhile in coming now to Guyana on a bilateral visit, I am looking forward to seeing again a valued and active member of our association, whose successful 2006 elections the Commonwealth supported through a programme of technical assistance. Guyana is also the base for the Commonwealth Youth Programme Regional Centre for the Caribbean – a pan-Commonwealth centre for excellence in the field of youth worker education and training – and a key player in the Commonwealth’s commitment to its young people, and its future.”

The Secretary-General will visit the Commonwealth Youth Programme Caribbean Centre where he will meet beneficiaries of Commonwealth projects including young people who have started small businesses and recipients of the Commonwealth Diploma in Youth Development Work.