OECS Develops Private Sector Trade Facilitation and Engagement Strategy
CASTRIES, Saint Lucia, CMC – The Organization of Eastern Caribbean States (OECS) says it has launched the development of an integrated regional private sector trade facilitation and engagement strategy aimed at advancing strategic solutions that reduce transaction costs and improve private sector capacity in the sub-region.
He said trade facilitation, business engagement and competitiveness are at the forefront of the OECS regional integration plans and consultant Dr. Claudius Preville has been engaged to develop the strategy.
As part of his engagement, he will consult with national and regional bodies of private sector stakeholders, including chambers of commerce, national private sector associations and the OECS Business Council to get their points. views and their aspirations regarding the expectations of national and regional actors. and the international trade policies that govern and regulate their participation in the global marketplace, said the St. Lucia-based OECS Commission.
In addition, it will engage national and regional trade policy makers such as the Barbados-based Caribbean Export Development Agency and other relevant policy-making bodies to gather their views on modern and appropriate competitiveness strategies. to strengthen and deepen the integration of the sub-region. in economically viable value chains and in the wider global economy.
The OECS Commission said the project is among several initiatives under the ACP TradeCom II program launched in 2019.
“Consolidation of the OECS Economic Union through Building Sustainable Trade Capacity” (STCB). Thanks to joint contributions from the Europe Aid grant program of the European Union and the Organization of African, Caribbean and Pacific States (OACPS), the total project budget amounts to 3.6 million euros (one euro = 1.29 US cents) and is disbursed by the EU. -ACP TradeCom II Rapid Response Mechanism Program,” the OECS Commission said.
The overall objective of the program is to assist OECS Member States and the OECS Commission to advance the implementation of the OECS Economic Union.
The OECS includes the islands of Antigua and Barbuda, Dominica, Grenada, Saint Lucia, Saint Vincent and the Grenadines, Saint Kitts-Nevis, Anguilla and the British Virgin Islands.