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Maximizing Trade Agreements: Implementing Mechanisms for Regional Growth

This presentation by Pamela Coke-Hamilton explores the effective use of trade agreements in the Caribbean region. Topics covered include the status of various agreements, reasons for implementation challenges, the need for an implementation mechanism, and potential areas of growth such as tourism and intellectual property rights. The proposed mechanism aims to harmonize industries, increase market share, and ensure sustainability. The presentation emphasizes collaboration between regional and national bodies, private sectors, and development units to drive economic development. Pamela Coke-Hamilton, the Director of Trade and Tourism at the Organization of American States, provides insights and strategies for leveraging trade agreements for regional prosperity.

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Maximizing Trade Agreements: Implementing Mechanisms for Regional Growth

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  1. Making Effective Use of Trade Agreements Presentation by Pamela Coke-Hamilton

  2. Access to Foreign Markets • CARIFORUM-EC EPA (2008) • CARICOM-Costa Rica (2004) • CARICOM-Cuba (2000) • CARICOM-Dominican Republic (1998) • CARICOM-Colombia (1994) • CARICOM-Venezuela (1992) • CARIBCAN (1986) • CBI (1983)

  3. Status of Agreements • EPA – all CARIFORUM Member States expected to have completed domestic procedures to allow for provisional application of the EPA by mid December 2008 • CARICOM-DR – to discuss the implications of the regional preference provision of the EPA • CARICOM-Cuba – consideration is being given to expansion of market access provisions

  4. CARICOM Exports to FTA Partners Dominican Republic Venezuela Colombia Costa Rica Cuba

  5. Limited Effective Market Access

  6. Utilization Rate (%) of CBI by CARICOM

  7. 2007 Utilization Rate (%) of CBI

  8. % of Imports that Benefit from CARIBCAN

  9. Canada Imports from CARICOM in 2006

  10. EC 27 Imports from CARIFORUM Countries (€’ millions)

  11. Reasons for the Lack of Implementation • Capacity • Funding • Shift of methodology – Private Sector • Infrastructure • Supply side constraints, etc.

  12. Need for Implementation Mechanism • Critical need for implementation mechanism • Currently present institutional structures extremely overwhelmed and under funded • Mechanism would implement all agreements in cohesive and coherent manner • Regional linked to National

  13. Structure for Implementation Regional Implementation Mechanism Executive Director Lobbying /Political Research Legal Private Sector NationalImpl. Liaison Project FundDevelopment Mon.& Eval. Unit RA RA RA LA LA LA PSO PSO T.S. P.O. PSO T.S. T.S. P.O. P.O. ME.O ME.O ME.O National Implementation Bodies BS BB BZ GY HT JM SR TT OECS Member Countries AG DM GD KN LC VC

  14. Potential Winners • Tourism • Cultural/Entertainment Services • Geographical Indicators – eg Caribbean Rum, Grenadian Nutmeg, Trinidad Cocoa, • IPR – biological diversity – development of natural medicines – traditional knowledge

  15. Example of the functionality of the mechanism • Eg. The objective would be to increase the CARICOM’s share of the EU tourism market - # of visitors and € & £ • Need to identify target market and their current and future needs • Develop plans with countries to harmonize or sufficiently diversify industry in the region so that CARICOM countries are not in competition with each other • Ensure that development of industry is sustainable • Discuss with the private sector and individual country implementation units their needs to undertake industry development • Develop project profiles in accordance with donor requirements to submit for funding

  16. Thank you Pamela Coke-HamiltonDirector of Trade and Tourism Organization of American States

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