By World Bank
The most aim of this document is to assist policymakers within the Caribbean layout an time table of coverage activities to speed up exchange integration and development, and to minimize poverty. every one a part of the file specializes in a key query and offers an in-depth research of the problems raised, laying the principles for coverage suggestions defined within the final bankruptcy of the file. half I asks no matter if the Caribbean's monetary and alternate process are sound adequate to maintain the hot period of its international exchange kin. half II addresses the possibilities and demanding situations that the hot exchange setting bargains to the Caribbean. half III assesses the effect of the recently-negotiated financial Partnership contract on progress and poverty aid utilizing sorts of macroeconomic versions. The record concludes with coverage priorities for accelerating Caribbean integration into the realm financial system and for reaping the advantages of international festival.
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Additional info for Accelerating Trade and Integration in the Caribbean: Policy Options for Sustained Growth, Job Creation, and Poverty Reduction (World Bank Country Study)
Adjusting to the erosion of trade preferences. For the past three decades, the Caribbean has pursued an external trade policy anchored on preferential access to the European and North American markets. However, the Caribbean is facing a situation where preferential access for traditional products is being eroded. Most notably, the reciprocity character of the EPA, which requires the Caribbean to reduce tariff and nontariff barriers on trade in goods, services, and the movement of capital with the EU, ends the preferences that the Caribbean countries had enjoyed over the past decades.
The entity will be comprised of units charged with the following responsibilities. ■ Market Research Division. This unit will undertake the analytical work required to iden- tify niche markets (both existing and potential) in the EU for CARIFORUM exporters; the potential barriers to trade in each market area; identify the potential “winners” where market penetration will be most quickly gained; the costs associated and the necessary measures needed both nationally and regionally to engage these markets.
Improving accountability, transparency, and efficiency in the use of public resources is crucial to ensure that public investment translates into accumulation of capital and growth. Increasing efficiency of public investment in Caribbean countries is directly related to the ability of the government of Caribbean countries to improve governance. g. in Haiti), together with procurement and public enterprise reforms, will help advance public finance reforms, and thereby improve economic governance.