Caribbean
outlook: regionalism the key to long-term growth |
Thanks to a growing flow of tourists, public and private construction
projects and increased global demand for agricultural commodities,
the Caribbean is expected to enjoy positive economic growth
in 2005. But over the long-term, a more tightly integrated
regional approach may be necessary to mitigate natural risks
and sustain long-term growth in the global economy, according
to Caribbean leaders.
"Strengthening regional and national capacity for sustainable
development is priority for the Caribbean Community (Caricom),"
said Ambassador Lolita Applewhaite, deputy secretary general,
in a March presentation in Georgetown, Guyana. For 2005,
the community of 20 member and associate member states is
focusing on implementation of the Caricom Single Market and
Economy (CSME), strengthening governance within the community,
and promoting information and communication technologies
for development. To boost opportunities for productive employment,
member states of the Caribbean Community will be removing
existing restrictions on the right of business establishment,
the provision of services, the movement of capital and the
movement of selected skills in order to establish the CSME
by December 31, 2005. |
