ACS deepens efforts towards eliminating obstacles to trade
|
| Published on Saturday, June 9, 2007 |
Email To Friend Print Version |
PORT-OF-SPAIN, Trinidad: The Special Committee on Trade Development and External Economic Relations of the Association of Caribbean States (ACS) met last Thursday at the ACS Secretariat in Port of Spain, Trinidad under the Chairmanship of Mr. Gregorio Canales, Director General for Foreign Investment at the Secretariat for Trade of Mexico.
 |
| ACS Trade Director, Manuel Madriz (left) and Committee Chairman, Gregorio Canales, welcome delegates to the 21st Meeting of the Special Committee on Trade. ACS Photo |
Also in attendance were ACS Trade Director, Manuel Madriz, as well as delegates from Member States, including, Colombia, Costa Rica, Cuba, Jamaica, Panama, the Dominican Republic, Trinidad and Tobago and Venezuela.
One of the main objectives of the ACS Special Committee on Trade has been the promotion of mechanisms to facilitate the trade integration process in the Greater Caribbean, and the recent meeting of this Committee stressed the need to deepen efforts to assist the consolidation of business and trade.
One noteworthy initiative is the celebration of the 2nd Meeting on the Facilitation of Customs Procedures in the Greater Caribbean towards the end of 2007. This event aims to bring together both government and private Customs Experts to discuss mechanisms which would allow for the simplification of regional customs procedures.
Conscious of the need to harmonise mechanisms to bring the businessmen of the region closer to each other, the Committee underlined the need to analyse existing visa requirements among the ACS Members and Associate Members. In order to do so, the Secretariat will create a table containing the visa requirement information for nationals of the ACS Member States and Associate Members. This table will soon be available on the ACS website.
Also among the agenda items tabled during the one day meeting was the discussion on the negotiation of an agreement on Reciprocal Investment Protection and Promotion in the Greater Caribbean, an initiative which seeks to establish a uniform legal framework for the treatment of investments, which would be a pioneering agreement in the region and go a long way towards reinforcing the image of the Greater Caribbean as magnet for foreign investment.
Given the importance of such an agreement, it was agreed that a feasibility study would be carried out, taking into account related issues such as the solution of controversies, national treatment and expropriation procedures.
Delegates also received the report on the results of the 8th Business Forum of the Greater Caribbean, which was held in Panama last March 2007 and a progress report on preparations for the 9th Business Forum of the Greater Caribbean, to be held in Aruba in September 2008.
In closing, the meeting welcomed the advances in negotiations for a Free Trade Agreement between CARICOM and Central America, given the ACS’ commitment to providing a space for concerted action within the region.
| | | | Reads : 214 | | | |
|
|
