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Towards a Single Economy and a Single Development Vision

Towards a Single Economy and a Single Development Vision. Norman Girvan UWI.

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Towards a Single Economy and a Single Development Vision

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  1. Towards a Single Economy and a Single Development Vision Norman Girvan UWI

  2. The challenge is to engineer a Single Market and Economy that enables us, collectively, to achieve certain things that we cannot achieve separately; that enhances our sense of collective security, collective identity and collective self-confidence in our ability to deal with the world on equal terms and to realise a vision for the future.

  3. A Single Development Vision • Economic • Social • Environmental • Governance

  4. Economic objectives • Reasonable standard of living • Opportunities for youth • Self-sustaining growth • Internationally competitive • Equitable socially and spatially • Ecologically sustainable • Basic social services

  5. The Caricom Charter for Civil Society • Human, civil, political, religious and cultural rights • Rights of indigenous peoples, women, children, workers, the family and people with disabilities • Rights to good governance • Right to participation in the economy, health, education and basic necessities; • Environmental rights • Role of social partners • Awareness and the responsibilities of the people.

  6. Needed • Legal status for the Charter • Obligatory regular reports on implementation • Measurable objectives for youth, labour rights, education and health for 2015 • Role of Caribbean Diaspora

  7. Environment - key areas • Natural disasters • Marine environment • Watersheds & Forestry • Energy • Waste disposal

  8. Environment – key actions • Implement existing laws, regional and international commitments • Common Caricom environmental regime • Regional & National State of the Environment Reports • Publish and table reports in National Parliaments, Caribbean Parliamentary Assembly and Heads of Government Conference

  9. Governance • Strengthening of Caribbean Parliamentary Assembly • CCS Budget • Report on Civil Society • Report on Environment • Deepening of conventional democracy – Local Government • Foreign relations – Caribbean aid/outreach programme

  10. Economic • CSME must be an instrument for economic transformation and competitiveness • Treaty provides a legal framework for functional cooperation and common policies • Need to fill in the framework – the what, when and who • Foreign trade negotiations should be aligned with policies for transformation

  11. Services • Self-employed service providers – great potential for expansion • Common registry needed • Equivalency and accreditation • Educate immigration officers!

  12. Learning from the past • Numerous technical studies • Diversification • Reduce/eliminate dependence on preferences • Services • Knowledge base

  13. Why the “Implementation Gap”? • Lack of stakeholder ‘buy-in’ • ‘Tyranny of the short-term’ • Crisis management syndrome • Donor driven agendas • Legal and institutional machinery • Distribution of costs and benefits

  14. Lessons • Sequencing important • Prioritise areas with high pay-offs to everyone • Secure stakeholder involvement • Use existing knowledge • Adopt realistic implementation schedules

  15. Sectoral priorities 2006-2010Suggested for common policies • Domestic agriculture • Preference – dependent industries • Sustainable tourism • Transport • Information and Communication Technologies

  16. Other priorities 2006-2010 • Fiscal incentives harmonisation • Company Law - harmonisation • Labour Law - harmonisation • Capital Market Integration • Extended Freedom of Movement • Exchange rate coordination

  17. Priorities for 2011-2015 • Caribbean Monetary Union • Fiscal Policy - harmonisation • Monetary Policy - harmonisation • Taxation regimes - harmonisation

  18. Existing Caribbean Court of Justice Standards Organization CROSQ Pending Competition Commission Regional Property Rights Office Phyto-Sanitary Organization Regional Fisheries Organization Regional Development Fund Regional Securities Commission Conciliation Commission CARICOM Commission Revenue Authority Court of Auditors Caribbean Assembly of Parliamentarians (Upgraded) Caribbean Central Bank Economic and Social Committee Ombudsman Office Regional Environmental Organization Institutional infrastructure

  19. Thank you for your kind attention!

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