To ensure that the member states of Caricom are adequately prepared for the coming of the CSME free trade initiative, a project has been activated designed to strengthen data collection and analysis for the enhancement of trade in services and foreign direct investment.
The project, jointly coordinated by the Statistical Unit of Caricom and Caribbean Trade and Competitiveness Development Programme, is aimed at improving the capabilities of national statistical agencies to collect, compile and disseminate information for regional and national negotiators and policymakers.
The data compiled is also intended to help investors to effectively operate and reap the benefits from a free trade area such as the CSME.
The key objective, according to Caricom, is a harmonised approach to the development of statistics relating to trade in services, which will be achieved through the formulation of common guidelines.
A team of experts in the fields of national accounts, balance of payments, classification systems, survey and sampling methodologies and information technology have been hired to help complete the project.
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