September 24, 1997 - The St. Lucia Chamber of Commerce, Industry and Agriculture continues it's series of Executive Luncheon meetings. This months' Executive Luncheon takes place on Wednesday September 24, 1997 at the Caribbees Hotel.

Mr. Felipe Noguera, Executive Director of Caribbean Association of Industry and Commerce CAIC will be the guest speaker. The month's focus will be the Free Trade Area of the Americas - Implications for the Private Sector in St. Lucia.

At the December 1994 Summit of the Americas in Miami, the six independent OECS member states joined twenty eight other States in the hemisphere in committing themselves to a Free Trade Area of the Americas FTAA by the year 2005. The FTAA envisages a hemispheric wide Free Trade Agreement which would see the thirty four countries ranging from the USA with a population of 260 million to St. Kitts and Nevis with a population of 41,000 all operating as equal partners in the free trade area. The OECS countries are the six smallest states in the arrangement.

Given our small size, the dismantling of trade barriers raises concerns among the Private Sector of the region. However the Regional Private Sector representative organization, the CAIC has been monitoring the process closely and is well placed to speak to the concerns of the Private Sector related to the FTAA.

Mr. Noguera is expected to address some of the internal adjustment measures that would likely position our economy for eventual participation in any Free Trade Agreement where full reciprocity is being demanded.

The St. Lucia Chamber of Commerce believes that as Trade Ministers and Public Sector technocrats, prepare to negotiate the FTAA, the Private Sector must make its voice heard, from a position of informed knowledge and sensitivity to the implications for business and wider economic activity. Therefore Mr. Noguera's address is expected to be extremely informative and timely in alerting the Private Sector to be vigilant and agitate for full participation in discussions and processes that will inevitably impact on their businesses and livelihood.