9th Caricom-US meeting reinforces bilateral ties & economic plans

Dominica's ambassador to Caricom, Felix Gregoire, chaired the meeting on behalf of Caricom, while deputy US trade representative Jayme White led the American delegation.

The delegations agreed that the TIFA serves as an essential platform for growing their economic relationship, including through diversified exports and increased investments. Several significant conclusions and next steps emerged from the meeting, the Office of the US Trade Representative said in a press release.

Both sides pledged to collaborate in building resilient and durable supply chains in the region. The importance of the Caribbean Basin Initiative (CBI) trade preference programmes was also stressed. Caricom and the US committed to sharing data and methodologies to increase the usage of CBI programmes. Caricom also expressed the ongoing interest of specific member states to benefit from CBI trade preferences.

Both sides agreed to keep each other informed about third-party agreements affecting Caricom-US agricultural trade. They also reaffirmed their commitment to protecting workers' rights and adhering to internationally recognised core labour standards. The US highlighted its recent efforts to eliminate child labour and forced labour from global supply chains.

The meeting explored how transparency and good regulatory practices (GRP) can further facilitate trade and investment. Activities related to the 2022 Declaration on Good Regulatory Practices were also reviewed.

The issue of intellectual property protection in Caricom states was discussed, focusing on signal piracy and the World Intellectual Property Organization (WIPO) Internet Treaties. Both parties agreed to continue working together on these issues.

Both sides committed to consider sharing best practices and information on export promotion and facilitating business-to-business engagement among Caricom and US firms. Finally, both delegations agreed to reinvigorate the TIC and plan for more regular and intersessional engagements. They will discuss an agenda to advance technical cooperation further.

ALCHEMPro News Desk (DP)