| |
Contact:
Michelle Serieux
Thursday, July 01, 2004 – The income gap between fifteen of the world’s
richest countries and that of the poorest moved from 30:1 in 1960 to a whopping
74:1 in 1997. These figures were quoted by Jamaican Prime Minister P.J.
Patterson, as he addressed the Joint Session of the St Lucian Parliament on July
1, 2004 in Castries, St Lucia.
Speaking on the impact of globalization on the social, economic and political
life of Caribbean territories, Prime Minister Patterson stated that the gap
between developed and developing countries, between rich and poor, continued to
widen with the skewing of income levels increasingly unfavourable to the poor.
According to the UNCTAD World Economic Report for 2004, despite the apparent
improvement in global economic prospects, large imbalances remained in the world
economy. The newly published Report of the World Commission on the Social
Dimension of Globalization prepared by the International Labour Organisation
(ILO), also concluded that the present pattern of globalization must change and
needed “an urgent rethink” of current policies and institutions of global
governance.
Patterson urged that the vision for fair globalization be shifted so that it is
centred on the needs and aspirations of people, in terms of opportunities for
decent work, food, water, health, education and a liveable environment, instead
of an exclusive focus on market efficiency.
He added that given the continued effects of the erosion of preferential trade
agreements on which Caribbean economies so heavily depend, Caribbean territories
should exploit all means available to promote the sustainable development,
security and prosperity of all the peoples of the Region. He urged all Caribbean
territories to explore the potential of the non-traditional sector and emerging
industries, and to examine more closely, the requirements for competitiveness so
that they would be better able to identify ways of efficiently achieving the
delivery of goods and services to their clients.
The Prime Minister mentioned numerous hindrances to the economic development of
the region. He cited limited progress in global trade negotiations, the downward
trend in flows of Official Development Assistance, as well as the continued
decline of private capital flows to developing countries as constraints to
development. He stated that given the HIV/AIDS pandemic and the literacy and
innumeracy of Caribbean citizens, Health and Education should remain as priority
areas in the development agenda for the Caribbean region.
The Prime Minister advised Caribbean countries to exploit their specific
advantages, such as the natural resources, cultural products and geographical
location, and seek to create an enabling environment for both local and overseas
investors. According to the Prime Minister, the linkages that Tourism has with
Agriculture, Manufacturing and Entertainment makes the Hospitality industry an
engine of growth for the entire economy.
Mr. Patterson concluded that Caribbean territories needed to make the best
possible use of their limited resources, as they continue in the quest for
special and differential treatment provisions in the FTAA process and elsewhere.
According to him, this has to be crafted in order to facilitate structural
adjustment and the promotion of development of small developing economies, in
particular, small-island developing states.
|
