| |
Contact:
Virnet St. Omer-Fontenelle
Port-of-Spain, Monday, November 8, 2004 - The 10th Special Meeting of the
Conference of Heads of Government of the Caribbean Community is billed as the
test for the completion of the CARICOM Single Market and Economy (CSME). A
process, which started 31 years ago, is all tied into one year, with the
December 31st 2005 deadline fast approaching.
Addressing the opening ceremony this morning was host Prime Minister, Patrick
Manning. Mr. Manning spoke of Trinidad and Tobago’s commitment to the financing
of the programme of the CSME. He spoke of a facility, which allows companies in
the region to borrow from the domestic market on terms and conditions favourable
to them.
Speaking of a CARICOM Trade Support Programme, which was launched in Jamaica
this month, Mr. Manning said it sought to support and strengthen the region’s
private sector, by providing assistance to firms, so as to enable them to
improve their competitiveness and export capability: “This is part of our
strategy to make businesses in our region CSME-ready on a timely basis”. The
facility of TT$100 million contemplates interest free loans to non-Trinidad and
Tobago companies.
Pointing to challenges in respect of the energy supplies, which Trinidad and
Tobago is presently exploring to put together a comprehensive policy on regional
energy supplies to support CARICOM member states, Mr. Manning said, “Trinidad
and Tobago established, effective1st July 2004, a grant facility capitalized at
a maximum of TT$25 million per month. By the end of October last, just a few
days ago, TT$100 million would have already accrued. Over one year, which is the
period for which this facility will operate in the first instance, with the
option for its renewal thereafter, this facility will realize and accumulation
of TT$300 million”.
The Trinidad and Tobago government is also looking at developing a network of
pipelines to supply oil to its regional neigbours. Mr. Manning informed that the
feasibility studies for the distribution of natural gas to the region through a
pipeline, indicated that this effort would require, not one, but two major lines
across the region. One line he said, would extend from Tobago to Barbados and
unto Martinique, with a spur south to St. Lucia, and would move further north to
Guadeloupe, with another spur to Dominica. There is the potential for an
additional spur from Guadeloupe to Antigua and St. Kitts. He noted that the
extension of gas supplies to the region would “bring every island to the service
within the ambit we hold for Tobago, and for Trinidad and Tobago.”
Grenada’s Prime Minister and Chairman of CARICOM, Dr Keith Mitchel gave an
impassioned speech thanking his colleague Heads of Government for their
continued support for Grenada in the aftermath of Hurricane Ivan. He spoke of
the continuing needs of Grenada, and called on colleagues to provide
scholarships for the hundreds of Grenadian youths, who are now facing a bleak
future following Ivan. He called for persons in the tourism industry in the
region to reach out to Grenadians in the industry, to provide jobs for at least
one year for the hundreds who are now displaced.
Mr. Mitchel said the lessons of Grenada have made regional integration a
religion for Grenada. He said it was an initiative his country could not
backslide from, having experienced first hand, their vulnerability and by
extension, the vulnerability of the entire region.
|
