Trade Policy

Objective


The Regional Integration session aimed to explore the strategy to strengthen Caribbean intrareg...
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Cgf summary trade-policy

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Cgf summary trade-policy

  1. 1. Trade Policy Objective  The Regional Integration session aimed to explore the strategy to strengthen Caribbean intraregional economic relation with special focus on: i) achieving competitiveness gains through integration; ii) assessing barrier to economic convergence; and iii) improve the environment for doing business to raise growth. Key messages to the participants    The Caribbean region remains a weak competitive and undiversified region. The World Bank Trade Strategy could serve as a framework to boost the region’s trade integration and help it reap the full benefits of integration into the world economy. There are practical options for regional integration in the OECS through economic diversification. Key nascent industries exist which may increase intra-regional and global trade. Key take-aways from the participants' interaction    Reducing transport costs would be critical to enhance the region’s competitiveness. Connectivity among islands in particular maritime and air transport connectivity would offer an opportunity to boost the Caribbean’s trade and growth. The World Bank should provide its technical expertise and knowledge on trade issues to advance the competitiveness and diversification agenda of the region.  

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