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CARICOM Welcomes Positive Trade Negotiations With Canada,
by Phillip Morton, Investors Offshore.com
Thursday, November 19, 2009
There was satisfactory progress between the Caribbean Community (CARICOM) and
Canada in the first round of Trade and Development Negotiations, held in Barbados, according to Gail Mathurin, Director-General of the Office
of Trade Negotiations for CARICOM.
Expressing the Region’s satisfaction with CARICOM/Canada
discussions towards a Free Trade Agreement, Mathurin stated that it was
conducted in an “extremely amiable atmosphere.”
“The chemistry was good between the two sides and this augurs well for
the way forward. It was an opportunity for both sides
to present and explain their mandates, positions and approaches to several issues,”
she said, adding that those specific issues included matters related to market
access for agricultural goods, services, and culture and investment, and institutional
issues.
Commenting on what CARICOM is seeking from such an agreement, Mathurin added: “In
each subject area, we are putting forward specific development oriented proposals
which the region hopes will become articles in the various facets of the agreement.”
Ambassador Mathurin stated that the negotiations were poised to further strengthen
longstanding relations between the Community and Canada, which is the Region’s
third largest trading partner.
The negotiations are towards a revision to duties with Canada on a more flexible basis with more beneficial conditions for less developed countries as expressed in the Revised Treaty of Chaguaramas.
Currently, trade and economic cooperation relations between CARICOM and Canada
are covered under a number of instruments, including the 1979 CARICOM-Canada
Trade and Economic Cooperation Agreement and its Protocols.
Two-way merchandise trade between CARICOM and Canada averaged more than USD700m
over the last 10 years, with a surplus averaging more than USD60m in favor
of the Region.
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