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CARICOM–Central America and Panama Negotiations |
August 24, 2007:
IN PORT OF SPAIN, TRINIDAD AND TOBAGO, at the invitation of CARICOM and led by
Trinidad and Tobago, the First Round of Negotiations between CARICOM-Central
America and Panama was held from 8 – 10 August 2007, with a total of six (6)
Rounds of negotiations scheduled to be finalized in December of this year, and
their entry into force, in the course of 2008.
The delegations of Central America and Panama were chaired
by Ministers and Deputy Ministers of the Economy, and
comprised teams from said countries for the negotiation of
Free Trade Agreements. CARICOM was represented by its
Regional Negotiating Machinery and high-level officials in
economic and trade spheres from Member countries. |
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The effective
rapprochement of both sub-regions was evident, as was the
interest and enthusiasm shown for a topic that has been on
the agenda of the countries of both sub-regions for several
years, that is, the conclusion of a Free Trade agreement
between CARICOM-Central America and Panama, which is geared
towards further deepening the trade and economic relations
between both groups of countries. At the end of the First
Round of Negotiations, very positive attitudes were noticed
among the various delegates, seeing that there had been
significant advancement in the negotiation process.
In addition to these circumstances, there was the solid
presence of the private sector from both Trinidad and Tobago
and other countries in the region, in launching the First
Round of Negotiations. This ensures not only the prompt
conclusion of same, but also the prompt entry into force and
implementation by the business community of both
sub-regions.
Trade relations exist, although not with the same intensity
they would have with the signing of a Free Trade agreement.
The business community of Central America and Panama may be
found in many enterprises that operate in various CARICOM
Member countries, and the same may be said of the presence
of businesses from CARICOM member countries in Central
America and Panama, as well as the different Trade Missions
on both sides.
In this regard, and in keeping with its agenda, the business
sector of Trinidad and Tobago through the Trinidad and
Tobago Chamber of Commerce, is organizing a Trade Mission to
Central America towards the end of October this year which,
in this first phase, will include the countries of El
Salvador and Costa Rica.
The Secretariat of the Association of Caribbean States is
pleased by such an important and strategic decision as is
the start of negotiations that shall conclude with a Free
Trade agreement between Central America-Panama and CARICOM
which, together, unite 21 of the 25 ACS Member States. The
implementation of this agreement is aimed at “promoting a
broad economic area for Trade and Investment in the Greater
Caribbean”, one of the objectives established by the highest
authorities of the ACS, enshrined in article III of the
Convention Establishing the Association of Caribbean States.
The Secretariat of the Association of Caribbean States
extends its best wishes for success at the start of a
process that will be marked by a greater mutual
understanding and knowledge between both sub-regions in
trade, investment and cultural spheres, which will yield
significant benefits for the people of both Central America
and Panama as well as those from CARICOM member countries,
making the most of the complementary nature of their
economies.
By Manuel Madriz is the Trade Director of the
Association of Caribbean States.
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