Caricom to push for stronger ties with Latin America
KINGSTON, Jamaica ( CMC) — Chairman of the Caribbean Community (Caricom) Council for Foreign and Community Relations (COFCOR), Dr Kenneth Baugh, says he believes economic co-operation between Caricom and Latin America is definitely achievable.
“I am anticipating the formation of a Latin American and Caribbean group eventually absorbing North America and that would be good for us because then you’re talking about a marketplace of maybe a billion people,” said Baugh, who is also the official Caricom representative to the RIO Group.
“It can only help Jamaica and the Caribbean if we become a part of this,” he said, noting it is therefore incumbent on Jamaican producers and manufacturers to begin retooling their operations in order to take advantage of the opportunities when they become available.
“Doing so would definitely turn around the trade imbalance where Jamaica exports only about US$66 million in intra-Caricom trade, while importing some US$1.66 billion,” Baugh said, adding that Trinidad and Tobago has already retooled its industries and is reaping the benefits.
He also points to the need for Caribbean people to learn the Spanish language so as to be ready to take advantage of the opportunities from the various hemispheric agreements.
“This will ultimately increase opportunities for employment, export and revenue as we export our goods in these larger markets,” he said.
He said several Latin American countries were “bearing down on the door of Jamaica” to do business.
These include the Dominican Republic, which has applied for membership to Caricom, Costa Rica, Colombia and Panama.
Baugh said that the recent meeting here of foreign affairs ministers of the hemisphere provided the country with the perfect platform for exploring several avenues towards strengthening ties with its Latin American neighbours.
At the conference, which was attended by 34 foreign ministers, Jamaica’s application to become a member of the RIO Group was approved.
Founded in Brazil in 1986, the Rio Group has, as its objective, the creation of a regional mechanism for dialogue and concerted political agreement.
Baugh said that the meeting in Montego Bay in November did not rival the importance of Caricom, rather, it complemented it.
He said the foreign ministers’ meeting was “long overdue” and was a preparatory step to a summit of Heads in Mexico in 2010.
“So, this is Caricom integrating with Latin America. This is long overdue in this hemisphere,” Baugh said, adding that a number of Caricom countries have arrangements with Spanish-speaking countries.
He said Guyana, for example, is working with MERCOSUR, which is the “Common Market of the South,” and the largest trading bloc in South America.
MERCOSUR’s primary interest is to eliminate obstacles to regional trade, like high tariffs, income inequalities, or conflicting technical requirements for bringing products to market.