Jul 2016 Financial News

CSME can promote growth

Jul 25, 2016

PRIME Minister Dr Keith Rowley said a properly working Caricom Single Market and Economy (CSME) can benefit this country and the rest of Caricom region. Addressing a news conference at the Piarco International Airport upon his return from Jamaica on Thursday, the Prime Minister identified implementation of the CSME regime as one of the issues which he discussed with Jamaican Prime Minister Andrew Holness during his four-day State visit to that country.

Rowley explained, “If we have a proper single market and economy...doing what can be done...what we anticipate is that there will be growth in investment...there can be growth in the movement of goods and services...growth in employment...and general wealth creation in the region.” Recalling that the CSME was a major assignment which Caricom was working on under former Barbados prime minister Owen Arthur, Rowley said somewhere in the proceedings, Caricom lost its appetite for the CSME and, “it was shelved to a date to be fixed.” He said because TT understands the importance of the survival and growth of the Caricom market (in which it is a major supplier), this country took the initiative at the last Caricom Heads of Government meeting to put the whole question of the CSME back on the agenda. Rowley said that initiative was well received and the prime ministers who are in office today, “have all agreed that the time has come for us to return to and revisit this whole effort of attempting to develop a whole CSME.”

Source:
Newsday
Sunday July 24, 2016

http://www.newsday.co.tt/news/0,230997.html