Nationals must be prepared to respond to global challenges
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| Participants at the National Consultation on the Economy (Photo by Erasmus Williams) |
BASSETERRE, ST. KITTS, OCTOBER 15TH 2007 (CUOPM) – Nationals of St. Kitts and Nevis were told Thursday that they are living in a very dynamic environment and must be prepared to respond decisively and in a timely manner to the challenges which arise.
Prime Minister Hon. Dr. Denzil L. Douglas said the Federation’s response to changes in the EU Sugar Protocol by the enunciation of an adaptation strategy must now be supported by specific sector strategies on an annual basis as part of a medium term framework.
He said since the challenges “we now face are not the same as those we have encountered before we must examine forward looking and cutting-edge measures if we are to successfully reinvent our economy despite these challenges.”
Addressing the National Consultation on the Economy at the St. Kitts Marriott Resort on Thursday, Prime Minister Douglas noted that last year’s exercise included a comprehensive discussion on the changes in the international environment which forces the twin-island Federation to compete directly in foreign and domestic markets due to the removal or reduction of protectionist barriers and differential treatment given over the years.
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“To date our response has been rewarded with success. However the loss of trade preferences is not the only challenge which we continue to face and which require other forward looking and cutting edge responses. Other areas which we must confront as we transform our economy include the preparation of our economy for the OECS Economic Union and the CSME,” said Dr. Douglas, who noted that these important regional initiatives have necessitated an examination of whether local businesses and individuals are ready to take advantage of the opportunities which will arise for regional trade.
Prime Minister Douglas noted that the issue of competitiveness and the fear of personal loss of jobs have caused many of citizens to focus on the threats rather than the opportunities that can be derived from operating in the considerably larger market that these unions will produce.
“We should all adopt the maxim of one of our regional icons in Banking, that St Kitts and Nevis is only our location; the world is our market place,”
said Dr. Douglas, who noted that the “failure to address the preparation of our people could result in our country becoming seriously disadvantaged and unable to reap the benefits of regionalization.”
