MONTEGO BAY, St James — General Manager of Jamaica National Earl Jarrett is advocating for Caribbean countries to unite to overcome economic stagnation and threats to their individual economies.

He noted that the Caribbean is one space, with a collective history and a common cause, and this demands a single response to the multilaterals and trade and security issues.

Jarrett was delivering the main address at a luncheon for delegates attending the 46th staging of the Caribbean Development Bank’s (CDB) Board of Governors meeting at the Hyatt Ziva Rose Hall on Tuesday.

Jarrett commended the framers of the CDB for embracing the concept of mutuality and for continuing to extol its importance in the development of the Caribbean.

He called for the regional bank to “deeply reflect on the economic progress of its member states”, during its five days of deliberations, which began on Monday.

“We must commit to implementing anti-money laundering and counterterrorism financing strategies within the legal framework in the region. We must begin the process of trading information with our banking and trading partners and we must create a free flow of information so that in the final analysis, we don’t create a wall that will separate the developed world from the developing world,” Jarrett added.

The CDB is a regional financial institution, which was established by an agreement signed on October 18, 1969, in Kingston, Jamaica, and entered into force on January 26, 1970.

The bank’s purpose is to contribute to the harmonious economic growth and development of the member states and promote economic co-operation and integration among them, having special regard to the needs of the less developed countries.