EXTERNAL TRADE NEGOTIATIONS
The Meeting received a report from the Lead Head of the Prime Ministerial Sub-Committee on External Negotiations, the Prime Minister of Jamaica. The Committee had considered the key findings of the preliminary assessment of CARICOM’s merchandise trade, which represented part of the Region’s pivot to a more evidence-based approach.
The Heads of Government agreed to the recommendations made by the Sub-Committee. They endorsed the decision for the Region to prepare for and engage in negotiations to update the Community’s existing trade agreements with hemispheric partners with a sense of urgency and a willingness to arrive at mutually beneficial outcomes within the shortest possible timeframe.
They emphasized that CARICOM should strengthen its trade and economic linkages with non-traditional partners, to support further integration into the global economy, and agreed to further explore and strengthen relations with Africa, building on established partnership arrangements.
They also agreed, that as part of its transformational trade agenda the Community will adopt a more strategic and sustained engagement with traditional hemispheric partners, including by reviewing the scope of arrangements to include services, and by prioritizing cooperation on trade finance, trade facilitation, transportation and payments arrangements under its bilateral trade agreements.