The two-day Caricom inter-sessional meeting in St Vincent and the Grenadines saw Heads of Government agreeing to a “high level” consultation with leaders of commerce and industry in the region in July.
This consultation would address the institutional reform agenda and the scope for promoting public-private partnerships to support the infrastructural development required to promote a vibrant and dynamic private sector and sustainable growth in the community, a communique from the summit said.
The Heads also welcomed and endorsed the recommendations of the Caricom Commission on the Economy established last September to advise on a sustainable growth strategy for the community.
The recommendations are aimed at restoring confidence in the economic management and governance of Caricom economies and laying the foundation for an innovative resource mobilisation strategy to support the growth agenda.
The commission focused on specific initiatives that comprise the basis for both joint and or country specific immediate action in respect of the broad areas of fiscal sustainability (including debt management); private sector stimulation and the business regulatory environment; transitioning to sustainable growth; and resource mobilisation.
It will continue to work on advancing the implementation of the recommendations including preparation of an implementation timetable for consideration by member states at the July 2014 meeting in Antigua and Barbuda.
The Heads also received a report on the status of negotiations for a Caricom-Canada Trade and Development Agreement which is expected to conclude no later than June 2014.
They reiterated the region’s objective of negotiating a pro-development agreement which takes account of the differences in the levels of development between Caricom and Canada and which would support sustainable economic and social development of the peoples of the Region, the communiqué stated.
