CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. EC Proposes Closer Partnership With Caribbean Region

EC Proposes Closer Partnership With Caribbean Region

by Amanda Banks, for LawAndTax-News.com, London

14 March 2006


The European Commission announced last week that it has adopted a proposal for a new EU Strategy for the Caribbean region.

The strategy aims to promote a strong partnership between the European Union and the Caribbean on development, the fight against poverty, democracy, human rights and global threats to peace, security and stability.

”What we are proposing with this new strategy is a mutually beneficial partnership for development, democracy and security. This strong link will help us to address the important challenges of globalisation which the Caribbean region faces today. We must prevent that the region drifts into political insecurity and help the Caribbean region achieve its long term development goals in a self sustaining manner," explained Louis Michel, Commissioner for Development and Humanitarian Aid.

The Caribbean region has embarked on a path of regional integration and economic diversification, restructuring and reform. In its strategy paper, the Commission supports this development as a means to harness the opportunities of globalisation by the mostly small and economically vulnerable Caribbean states.

The communication adopted last week highlights how the challenges facing the Caribbean can be transformed into opportunities with the right ‘policy-mix’. In this context, the Commission has proposed a number of concrete actions around three major lines:

A political partnership based on shared values: The development of a strong political partnership between the EU and the Caribbean is a new and central element of the EU’s Caribbean Strategy. A political partnership in particular on good and effective governance is the key to the consolidation of democracy, to respect of human rights, to improvements in gender equality, social cohesion, security, stability, conflict prevention, migration, drugs and regional integration.

The EU will systematically support key institutions as central for achieving good governance such as parliaments, the judiciary and public financial management systems. To make these institutions work effectively, the EU will also promote transparency and exchange of information to fight corruption as well as corporate and financial malpractices.

Addressing Economic and environmental opportunities and vulnerabilities: In an increasingly interdependent and globalised world, a major objective of EU Development Policy is to assist developing countries to better harness the globalisation process. To this end, the EU will support the regional integration efforts in the Caribbean and help increase competitiveness, diversify exports and support the establishment of regional markets.

The EU will also step up its trade related assistance and support small and medium size enterprises. Environment and natural resources represent an important asset for in particular the poorer part of the local population. Caribbean States face many environmental challenges, all of which impact strongly on the region’s economic and social development. The EU will contribute to increasing the region’s capacity in Natural Disaster Management with emphasis on risk reduction, preparedness, early warning, prevention and mitigation.

Promoting Social Cohesion and Combating Poverty: The EU will support the efforts of the Caribbean nations to responding to chronic poverty and improving sustainable basic livelihood. In close cooperation with Civil Society, the EU will support national strategies to support social safety nets and income generation for the poorest. The fight against HIV/AIDS and the strengthening of health care systems with special emphasis on human resources and fair access is also a priority in this context. In the area of drugs, the EU will focus on a drug prevention policy, with emphasis on education and awareness, training and support of co-ordination between institutions.

Brain-drain, socio-economic alienation and weak social cohesion are realities for many in the Caribbean region, the EC observed. Providing the skill base and ‘know-how’ to take advantage of economic diversification will be a key EU mechanism for overriding the social and socio-economic challenges faced by the Caribbean today.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »