CARICOM Heads of Government in Favor of Improving Regional Economy

Kingstown, March 17 (PL)- The heads of Government of the Caribbean Community (CARICOM) agreed fostering direct relations with business leaders as part of the global effort to improve the regional economic situation.

CARCOM President and Prime minister of Saint Vincent and the Grenadines Ralph Gonsalves presented the proposal at the 25th Summit between periods of sessions of the group, held behind closed doors in this capital last week.

We, heads of Government, have agreed at the summit a top-level meeting with managers and industrial and trade representatives from this region in July, said the prime minister.

Reporting on the situation, Gonsalves said the central issue of the mentioned summit was the economic situation that CARICOM member States are facing and preparation of a plan for regional growth and sustainable development.

The heads of Government received a report from the Economic Commission established in September that included progress in action areas.

The document also includes initiatives to undertake jointly financial sustainability, stimulation of the private sector and business regulatory atmosphere, besides tackling sustainable increase of the specific resources of each country.

According to Gonsalves, the movement toward tackling the regional economic challenges includes mobilization of resources, considering the best practices within the Community, and work coordination in a more efficient way.

The CARCOM-Canada trade and development agreement was among other issues discussed, with the purpose of concluding the negotiations in late June.