Monday and Tuesday, Caricom's trade and economy ministers will meet for the 60th session of the Council for Trade and Economic Development (COTED). Chaired by Kerrie Symmonds, Barbados' Minister of Foreign Affairs and Foreign Trade, the meeting will consider crucial dossiers to further integrate and strengthen the regional market.
During the formal opening, COTED President Symmonds and Caricom Secretary General Carla Barnett address the attendees. The agenda includes the implementation of the revised Common External Tariff, the progress of the working group reviewing the rules of origin, and monitoring reports on the sugar, cement and rice sectors.
Ministers will also evaluate compliance with the amended Chaguaramas Treaty. This treaty forms the legal backbone of the Caricom Single Market and Economy (CSME), within which free movement of goods, services, capital and people is envisioned. Within that framework, proposals for an industrial policy 2025-2030 will be reviewed, as well as steps to facilitate the mobility of Caricom citizens.
A European Union-funded study under the 11th European Development Fund is also receiving attention. This consultancy examines the impact and opportunities of the CSME for the region, with the goal of making recommendations for future-proof economic growth.
The international agenda includes an update on WTO negotiations, the impact of the U.S. "America First" policy on Caricom exporters, and ongoing talks with the Colombian government on extending preferential market access under the bilateral Trade, Economic and Technical Cooperation Agreement.
About COTED
COTED coordinates and promotes Caricom's trade and economic strategies. It oversees the implementation of the Chaguaramas Treaty, formulates regional industrial and agricultural policies, and develops measures to improve the quality, production and positioning of Caricom goods in the world market. This should structurally strengthen the competitiveness of the community.
