The Ministry of Foreign Affairs and Foreign Trade of Saint Vincent and the Grenadines has hosted a trade development workshop for officials from several Caribbean countries, as part of the Statistical Conference of the Americas of ECLAC
The Ministry of Foreign Affairs and Foreign Trade of Saint Vincent and the Grenadines has hosted a trade development workshop for officials from several Caribbean countries, as part of the Statistical Conference of the Americas of ECLAC.
The Economic Commission for Latin America and the Caribbean (ECLAC) and the Organisation of Eastern Caribbean States (OECS) Commission coordinated the workshop, held in Mexico on November 14-16, 2017.
ECLAC is a regional commission that supports and coordinates action towards economic development and international collaboration in Latin America and the Caribbean.
The workshop was designed to give delegates a greater understanding of the digital tools used to conduct deep trade analysis, benefitting future Economic Union trade negotiations between OECS members.
Deputy Prime Minister and Minister of Foreign Affairs, Trade and Commerce for Saint Vincent and the Grenadines, Sir Louis Straker, said the country could benefit from harnessing trade data to address the challenges of competition, high production costs and limited market access faced by small island states.
Analysing national trade competitiveness would help counter the large trade deficit and imbalance within small island economies like that of Saint Vincent and the Grenadines, he said.
Regional Trade Adviser at the OECS Commission, Allan Paul, said the training was a direct response to interest shown by OECS member states in strengthening their knowledge and skills in trade data compilation and analysis.
Representatives agreed that the workshop would enable public sector officials to better inform trade policy negotiation, formation and implementation.
Sheldon McLean, the Coordinator of ECLAC Caribbean’s Economic Development Unit, emphasised ECLAC and the OECS Commission’s focus on trade-related research to promote economic growth and development in ECCU countries, and ECLAC’s role in reviewing trade agreements across the Caribbean.
Read More: The Economic Commission for Latin America and the Caribbean (ECLAC) has discussed improvements to the Caribbean’s economy, and in particular its trade sector, at two conferences held in November, 2017