Download - Final Caricom
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CARICOM
Caribbean Community
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Member Nations
CARICOM Members
Status Full member Associate Observer
Antigua and Barbuda' Anguilla Aruba
Bahamas Bermuda Colombia
Barbados British Virgin Islands Curaao
Belize Cayman Islands Dominican Republic
Dominica Turks and Caicos Islands Mexico
Grenada Puerto Rico
Guyana Sint Maarten
Haiti Venezuela
Jamaica
Montserrat
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines
Suriname
Trinidad and Tobago
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CARICOM: Relations with EU
European Union (EU)
The EU is a family of democratic European countries, committed
to working together for peace and prosperity. It is not a State
intended to replace existing states, but it is more than any other
international organization. Its Member States have set up commoninstitutions to which they delegate some of their sovereignty so
that decisions on specific matters of joint interest can be made
democratically at European level.
In the early years, much of the co-operation between EUcountries was about trade and the economy, but now the EU also
deals with many other subjects of direct importance for our
everyday life, such as citizens' rights; ensuring freedom, security
and justice; job creation; regional development; environmentalprotection; making globalization work for everyone.
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Benefits to CARICOM States
In industrialized countries, even those selling sugar to the world
market, many social benefits are made available by the state,
whereas in CARICOM countries, housing, health care, education,
recreation, and other such benefits are more often than not
provided
by sugar producers.
EU port refineries to be supplied reliably and predictably, and
therefore the maintenance of an EU cane sugar refining industry
Which is a valuable complement to the beet industry.
CARICOM sugar is more than simply a matter of trade; becausethe agreements encompass mutual political and economic rights
and obligations which extend well beyond the confines of sugar
refining.
S GA A
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SUGAR TRADE
Sugar trade between CARICOM and the European Union is regulated by two trade
agreements:
The ACP/EU Sugar Protocol and
The Agreement on Special Preferential Sugar (SPS).
ACP/EU Sugar Protocol
The fundamental principles enshrined in the Sugar Protocol are the following:
Agreed Quantities
Guaranteed Prices
Indefinite duration
The Sugar Protocol is an agreement between governments whereby the EU
Member States guarantee to buy and import agreed quantities of sugar which theACP Signatory States undertake to Sell.
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CARICOM: Banana and SugarIndustry
Banana Producers
Jamaica
St. Lucia
St. Vincent & the
Grenadines
Sugar Producers
Belize
Guyana
Jamaica
St. Kitts & Nevis
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CARICOM Banana Industry
The most immediate threat of globalization is to the banana
industry in the Windward Islands, Belize and Jamaica. Banana
export data for 1998 shows a decline with worrying implications
for dead freight payments (for unused cargo space) and for thefuture of the industry. There was some concern falling prices in
July 1999, prompted by increased supply from Central America
and a slight weakening of sterling against US$, to which the EC$
is pegged. As a result of improved quality and direct sales tosupermarkets, the free-on-board price was L604/ tone in May
1999, 6.1% above year earlier levels. The price advantage of
Windward fruit overdollarbanana reached 27.2%.
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CARICOM Banana Industry
Caribbean banana productions faced steadily increasing cost of
production during the past 10years. Physical sizes of banana
producing countries limit expansion of banana cultivation, furtherendangering the industry. Banana exports from the Caribbean
countries decreased steadily during 1995-99 due to natural
disasters, low market demand and low prices offered.
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Competitiveness inCARICOM
Within the 148 countries surveyed, sevenCaribbean/CARCIOM countries were included:Barbados, the Dominican Republic, Guyana, Haiti,Jamaica, Suriname, and Trinidad and Tobago
The WEF defines competitiveness as the set ofinstitutions, policies, and factors that determine the
level of productivity of a country.
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Performance ofCARICOM countries
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Factors Contributing to Ease of
Business in CARICOM
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Overview The competitiveness of Caribbean/CARICOM
countries has been declining
Most countries in the region are still experiencing aneconomic decline, which is likely to continue intothe foreseeable future
More critical for governments to endeavour tocreate more enabling environments byimplementing policies, removing bottlenecks and
bureaucracy, fostering efficiency etc thatencourage and facilitate investment andinnovation.
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Area of cooperation betweenIndia and CARICOM
Indias membership of the Caribbean DevelopmentBank
Greater Indian participation in Caribbean
Supply of retroviral drugs for fighting HIV/AIDS.
CARICOM has also requested Indias contribution toCARICOM Development Fund (CDF) to fundeconomic activities with the CARICOM region.
Government of India funded the US$ 1 million for
information technology and communicationinfrastructure.
We provided computer software and communitystudio at the CARICOM Secretariat.
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Relationship betweenIndia and CARICOM
CARICOMs exports to India have grownfast in the last decade but are still mainly inthe extractive industries.
Between 2001 and 2009, it finds,CARICOM exporters expanded their export
sales generated in India by an average of59%, making this one of the regions most
dynamic export markets over this period.However, exports of liquefied natural gasand crude petroleum oil from Trinidad &Tobago accounted for 72% merchandiseexports.
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Since most of these goods face zero or low tariffs inthe Indian market, the CRNM does not see this as apriority area for trade negotiations. However, there
are some regional exports that face high tariffbarriers, some of which are agricultural products.
In 2009, Indian importers spent US$266bn on globalmerchandise imports.
India also represents a dynamic global market withimport spending expanding by approximately 23%annually between 2001 and 2009
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Among the CARICOM countries, The Bahamas is theleading market for Indias exports, accounting for77% of Indias total exports to the region during
2009-10
Other major export destinations of India in theregion are Trinidad and Tobago, Haiti, Jamaica,Suriname Guyana, and Barbados.
Trinidad and Tobago is the leading import source,accounting for 79 percent of Indias total importsfrom the region during 2009-10
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Ease of DoingBusiness
A review of the Doing Business 2013 report,published by the World Bank, and the extent to
which select government regulations andprocesses support businesses in the Caribbean.
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World Banks DoingBusiness 2013 report
Highlights the ease of doing business by analysing regulations that applyto an economys businesses during their life cycle, including start-up andoperations, trading across borders, paying taxes, and protecting investors
The Doing Business 2013 study assesses local business regulations thataffect small-to-medium sized businesses across the following 10 indicators:
1. starting a business
2. dealing with construction permits3. getting electricity
4. registering property
5. getting credit
6. protecting investors
7. paying taxes8. trading across borders
9. enforcing contracts
10. resolving insolvency.
R ki di h
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Rankings according to theReport
Overall Rankings Ranking of CARICOM nations
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Note: The lower the number, thebetter the ranking.
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Starting a business in CARICOMnations
Performance of select Caribbean countries on the ease ofstarting a business in 20112012 (Source: World Bank)
G d CA ICO
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Getting credit in CARICOMnations
Performance of select Caribbean countries on the ease ofsecuring credit in 20112012 (Source: World Bank)
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Paying taxes in CARICOM nations
Performance of select Caribbean countries on the ease of paying taxesand the burden of those taxes on businesses in 20112012 (Source: World
Bank)
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Resolving insolvency inCARICOM nations
no practice status means that a country has had zeroinsolvency cases a year over the past 5 years.
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Conclusion
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Thank You