CASTRIES, St. .Lucia – The St. Lucia-based Organisation of Eastern Caribbean States (OECS) Commission, Monday said it has successfully concluded a high-level initiative aimed at strengthening the economic resilience of the Eastern Caribbean through evidence-based policy making for trade in services.
The Commission said that the initiative was undertaken in collaboration with the United Nations Trade and Development (UNCTAD) and the United Nations Economic Commission for Latin America and the Caribbean (ECLAC).
It said that the project, “Strengthening Capacity for Evidence-Based Policymaking and Economic Resilience in CARICOM”, addressed critical trade in services data gaps that have long hindered OECS member states from fully leveraging the services sector as a driver for economic diversification.
The Commission said that by enhancing the availability and quality of services statistics, specifically through the implementation of UNCTAD’s Trade in Services Information System (TiSSTAT), the initiative empowers OECS member states to design competitive export strategies and participate more effectively in global value chains.
The project also included policy support to member states, featuring an analysis of the role of services trade in the region and advisory services tailored to national needs and contexts.
The initiative featured a series of workshops across the beneficiary OECS member states, followed by regional validation meetings targeting senior policymakers and technical experts from ministries of trade, central statistical offices, and the private sector.
“A primary focus was placed on the opportunities available through the growing trend of the servicification of manufacturing. The process by which the manufacturing of goods increasingly relies on produce and bundles services such as ICT and various business services to add value to sales and exports.”
The Commission said that participants also explored the Cultural and Creative Ecosystem (CCE), identifying bottlenecks in invisible value chains and developing methods to better measure and commercialize intellectual property in the digital age.
The project emphasized inclusivity, with the TiSSTAT tool enabling countries to produce disaggregated data that captures the participation of women and youth in the service-led economy.
The initiative concluded with the endorsement of four country-specific national reports titled How ICT and Business Services Can Support the Development of Creative Services and the Creative Economy in the Eastern Caribbean Economic Union. These validated findings will serve as a foundational evidence base for future trade policy reforms and sustainable economic development across the OECS.”
The Commission said the project benefits seven OECS member states namely Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.
