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GEORGETOWN, Guyana, CMC – Caribbean Community (CARICOM) Secretary General, Irwin La Rocque, says the involvement and commitment of the private sector are essential to achieving CARICOM’s growth and development agenda.
Addressing the annual Awards Ceremony of the Guyana Manufacturing and Services Association here over the weekend, La Rocque said that “as members of the private sector, you are key players in the drive towards increased prosperity for the people of this country, and this region.”
He said regional leaders had heard the “persistent” requests from the private sector for a seat at the table in the Councils of the Community.
La Rocque pointed to the discussions held in Antigua and Barbuda last July between CARICOM leaders and some of the region’s leading businessmen, as well as the agreement by the Council for Trade and Economic Development (COTED) that the private sector “must take part in their deliberations in some way.”
The Secretary General recalled an earlier agreement to create a Caribbean Business Council (CBC) as the body to interact with the Community’s Councils. However, the body has not yet been created.
“In the meantime, I proposed and the Ministers agreed, that the COTED will engage the CAIC pending the creation of the CBC. The Secretariat and Caribbean Export will work with the private sector to facilitate the realization of the CBC,” La Rocque said.
He also indicated that the private sector had been heard on the issue of ease of doing business in the Region, and gave the undertaking that the Community was committed to making it happen.
“We recognize the need to improve the ‘Doing Business Environment in the Community’, and align it with international best practices. That includes the harmonization of business-related rules and regulations within the CSME.
“To put it simply, an enterprise operating in the CSME should be faced with the same regulations, wherever their business is conducted. That will make doing business easier. It is all about creating a single space,” he said.
La Rocque cited the work that was close to completion in respect of Harmonized Customs Legislation and stated that the similar work will be undertaken with respect to the laws and regulations governing securities markets.
“We are also creating a regional business registry, which would permit registration in one Member State of the CSME to be sufficient to operate in any other. The aim of all this is to establish a single jurisdiction for the operation of business,” he said, urging support from the private sector for the initiative.
