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FILE - Patterson: An opportunity to unleash the potential for entrepreneurial spirit in the Caribbean |
PRIME MINISTER P.J. Patterson has said that Jamaica was firmly committed to the integration process, and had taken the legislative and administrative steps to ensure that the country's obligations under the Caribbean Single Market and Economy (CSME) were met in full and on time.
Addressing the 28th annual Conference of the Caribbean/Latin America last week, Mr. Patterson pointed out that the CSME would be launched in January by three member-countries Jamaica, Barbados and Trinidad and Tobago. He explained that the delay by other territories to join before year-end of 2006 was caused by challenges of limited capacity and setbacks resulting from recent disasters.
Speaking at the Miami Inter-continental Hotel in Miami, the prime minister said that at the October special meeting of heads of government in Trinidad, 2005 was declared the 'Year of the CSME'.
POWERFUL BLOCS EMERGING IN EUROPE
Mr. Patterson said that as new and powerful blocs were emerging in Europe, Asia and this region, "This leaves us no option but to make the necessary adjustments to ensure our competitiveness and indeed our very survival."
He said that the CSME was being pursued with increasing urgency, with a view to enhancing the development potential of all CARICOM territories with specific consideration given to nationals and their prospects for a better quality of life, "united in a single economic space."
The prime minister further pointed out that when finally consummated, the CSME would represent the most complete form of economic integration between sovereign nations, "second only to the European Union."
Mr. Patterson also cited the range of human resources available throughout the region, unmatched by any economic entity of similar size in any other part of the world. This, he said, was also demonstrated in the region's people to compete internationally in various fields.
NEW CHALLENGES
He said the new challenges would be met with "accustomed confidence and resilience," and that this was an opportunity to unleash the potential for entrepreneurial spirit that was inherent in the Caribbean people.
Regarding integration and external trade, Mr. Patterson said the single market would provide for more effective negotiations and the structuring of trade and economic ties with third countries.
He added that it would also provide for the free movement of capital, goods and services and people, for the establishment of a common trade and economic policy in dealing with the rest of the world. Also, this would create significant new opportunities for investment, business and trade, the prime minister noted.
A series of articles examining the Caribbean Single Market and Economy (CSME), which is to come on stream on January 5, 2005 beginning with an agreement between Jamaica, Barbados and Trinidad & Tobago. The majority of Caribbean Community (CARICOM) countries are scheduled to join the CSME in 2006.
