BASSETERRE, St. Kitts – PRIME Minister Hon. Dr. Denzil Douglas has expressed his fervour toward the upcoming Fifth Summit of the Americas, particularly to a series of high-level debates with US President Barack Obama regarding pertinent issues facing Caribbean economies.
The April 17-19 Summit would see a gathering of Heads of State of the Americas to participate in a formal discourse on critical matters affecting the region. It will be held under the theme of “Securing our citizens’ future by promoting Human Prosperity, Energy Security and Environmental Sustainability”.
Prime Minister Douglas said he anticipates an “enormously wonderful and historical occasion” with the recently-elected US President, adding that the Summit should allow the region the opportunity to set a new agenda of co-operation by re-establishing a good relationship with the country.
“Although the policies of the US Government may not have changed in such a short time, we expect more openness and greater opportunities to re-establish a relationship with the main superpower in this part of the world – a relationship that I believe can be reshaped on respect for each other. To a large extent I believe that kind of relationship had been shaken over the years with the Bush administration,” Douglas said.
The Prime Minister said a number of “sensitive issues” that the Caribbean faces would be tabled at the Summit in order to give Obama firsthand information on how US policies impact the region.
Douglas stressed that one of the most important issues is the investment climate in the region, particularly how the region is being affected by the global recession. He said that proposed US policies aimed at “tax havens” may exacerbate the region’s economic situation.
“That piece of legislation is currently going through the channels in the American parliamentary system, and is basically saying that any American who has money in an offshore account or any has been doing business transactions in what they describe as a tax haven, is deemed to be avoiding tax.
“That is a serious charge because it is not only attempting to destroy the offshore financial sector in the Caribbean region, [but is also] simply saying to the American investor that investing will be a hassle. It destroys the economic opportunities that we have here in the Caribbean region,” Douglas explained.
The Federation was recently listed among 30 countries “grey-listed” by the Organization for Economic Co-operation and Development (OECD), meaning that the nation has committed to international tax standards stipulated by the organization, but has not substantially implemented them. According to the OECD, the nation would have to make legislative changes in order to be considered a compliant country.
Prime Minister Douglas asserted that if such policies against the Caribbean are maintained, the region would suffer immensely, as it heavily depends on the offshore financial sector.
“Obama needs to be told that that is a wrong approach. Yes, go after those who are avoiding paying their taxes, but you cannot have one brush and paint everybody in the same way. They need to have that Bill examined, and that is why we are going to have our voices heard,” said Douglas.
PM Douglas informed that additional issues of border security, deportation and general national security would also be discussed at the Summit.
The Federation’s delegation would be led by Prime Minister Douglas, and would consist of Premier of Nevis Hon. Joseph Parry, Chief Secretary Joseph Edmeade, Permanent Secretary in the Ministry of Foreign Affairs Astona Browne and St. Kitts-Nevis Permanent Representative to the Organization of American States (OAS) His Excellency Dr. Izben Williams.
