CASTRIES, St. Lucia – Trade ministers from the Organisation of Eastern Caribbean States (OECS) have advanced the framework for regional trade policy making, as well as strengthening the policy for formulating and implementing trade within the sub-region.
OECS trade ministers (OECS photo)A statement issued here on Friday following the Sixth Ordinary Meeting of the OECS Council of Minsters of Trade that was held in Grenada last week, noted important matters related to the Regional Trade Policy Coordinating Framework, the OECS Customs Union with Free Circulation of Goods as well as the OECS Free Trade in Services Regime, and the coordination of OECS’ positions for the Caribbean Community (CARICOM), the World Trade Organization (WTO) were discussed.
“The Council of Ministers deliberated on and made decisions on issues to consolidate the OECS’ trade and development interests, concerns and positions at the OECS, CARICOM and WTO in light of the rapidly changing global environment,” according to the statement.
It said decisions were made by the Council to strengthen the framework for formulating and implementing trade within the OECS and that the Terms of Reference and Rules of Procedure for the constitution and functioning of an OECS Trade Policy Committee were adopted.
The statement said the Committee brings together officials, private sector and civil society representatives and various institutions, organisations, and technical experts to deliberate and provide reports, analyses and advice to the Council of Ministers on trade policy issues.
“The Council welcomed technical support to be provided to the member states and the OECS Commission to develop national and regional trade policy frameworks and documents, as well as the revitalization of the OECS Business Council (OBC),” the statement said, adding that the OBC is to be the apex collective advocacy and representative body for the private sector.
It said that the Council agreed to grant the OECS Business Council observer status to its meetings.
“Additionally, the Council committed to advance the full operationalization of an OECS Customs Union with Free Circulation of Goods,” the statement said, noting that the meeting supported a recent decision of the OECS Economic Affairs Council (EAC) for a new comprehensive public education and awareness campaign on the Customs Union and a call for an updated roadmap with new implementation timelines to include the concept of a pilot implementation phase.
“The free trade in services regime within the OECS Economic Union was also propelled by a decision that the OECS Commission and Member States take all necessary action to bring national policy, legislative and regulatory regimes governing trade in services, in conformity with the mandates of the OECS Treaty.
“Therefore, restrictions and discriminatory provisions and practices are to be removed to allow free movement and establishment of service providers throughout the Economic Union space.”
The statement said regarding the wider external and economic trade relations, the Council of Ministers coordinated OECS positions for the upcoming 60th meeting of the CARICOM Council for Trade and Economic Development (COTED) and also agreed to common positions for articulation in the work of the WTO.
“The recent upheavals in the import tariff rates instigated by the America First Trade Policy were a major concern of the Council. In that regard, the meeting considered the potential implications of the higher rates of tariffs imposed by the United States(US), particularly the 10% tariff on all OECS exports to the United States.
“The Council agreed to certain actions for coordinated and strategic engagement with the US administration to advocate for and represent OECS Trade and Development Interests, concerns and positions. ”
The statement said that the Council noted key initiatives implemented by the OECS Commission to enhance the trade competitiveness of OECS enterprises and entrepreneurs and to support the implementation of maritime single window systems for ship clearance in member states.
“The Council also noted a proposal from Martinique to implement a pilot digital platform in the greater Caribbean, to enhance the exchange of electronic freight transport information between the EU and its Outermost Regions and neighboring independent countries,” the statement said.
