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COFAP To
Consider CARICOM Single Economy Preparations
(CARICOM Secretariat, Turkeyen, Greater Georgetown,
Guyana) March 3, 2008: Preparations for the CARICOM
Single Economy (CSE), the framework of which is to be in
place this year, the status of the proposed Regional
Development Agency (RDA) and of the CARICOM Development Fund
(CDF), will be examined at the Council for Finance and
Planning (COFAP) which convenes in The Bahamas on 6 March
2008.
The Twelfth Meeting of the COFAP is the penultimate of a
series of Caribbean Community meetings being held in Nassau
during this week. The Twenty-Fourth Special Meeting of the
Council for Trade and Economic Development (COTED) on 5
March precedes the COFAP. The Nineteenth Inter-Sessional
Heads of Government Meeting on 7-8 March will cap the Nassau
meetings.
With regard to the CSE, issues to be considered by COFAP
include the performance and convergence of CARICOM
economies, as well as the status of inter-connectivity of
the Stock Exchanges in the Community.
The establishment of the RDA and the launch of the CDF will
be deliberated on under the broad heading of Reducing
Disparities in the Single Economic Space. The RDA is
required to attract investment, assist industries to become
efficient and competitive, promote structural
diversification and infrastructure development while the CDF
is to provide financial and technical assistance to
disadvantaged countries, regions and sectors.
The COFAP will also discuss the financial and developmental
implications of the EPA.
In addition, the Caribbean Hotel Association will brief the
meeting on the establishment of a Tourism Investment Fund,
while the Caribbean Catastrophe Risk Insurance Facility will
report to the forum on its operations.
