BUSINESS INTERACTION OF THE CARIBBEAN COUNTRIES (CARICOM) AND EECO INSTITUTES

The interaction of the business and humanitarian cooperation of the countries of the Caribbean Community (CARICOM) and Eurasian Economic Cooperation Organization (EECO) institutes was discussed at a meeting in Moscow by Vladimir Piskurev, EECO Secretary General and His Excellency Oleg Firer, Ambassador Extraordinary and Plenipotentiary of Grenada.

During the meeting, parties discussed mutual interests of cooperation in the trade, economic, cultural and humanitarian spheres.

Vladimir Piskurev noted that the EECO highly appreciates the friendly relations that are developing today at the level of non-governmental, economic and humanitarian dialogue, as part of contacts between various organizations in the educational, cultural, humanitarian and tourist fields, both with partners from Grenada and with partners from the countries of the Caribbean Community (CARICOM). “Today we note the presence of good prospects for increasing economic and humanitarian cooperation. We hope to establish and open EECO trade and economic representation in Grenada and the countries of the Caribbean Community in the near future,” noted EECO Secretary General Vladimir Piskurev.

His Excellency Ambassador Extraordinary and Plenipotentiary of Grenada Oleg Firer noted that one of the most important components of our relations are cultural, humanitarian, and of course economic contacts. Mr. Firer presented the economic and investment potential of Grenada, spoke about international and foreign economic relations. “We have a great interest in enhancing cooperation in the private sector, which is an important mechanism to help develop people-to-people contacts,” noted Mr. Firer.

The parties outlined ways to enhance bilateral cooperation in various fields, as well as interaction in the international arena, deepening cultural and humanitarian exchanges and contacts between people. The parties adhere to similar approaches on key issues of international cooperation, including problems of sustainable development, as well as on such basic principles of economic and humanitarian dialogue as multilateralism, respect for international law, a collective search for answers to the many challenges and threats of our time.

The particular importance of joint and consistent coordinated work of specialized nongovernmental institutions in promoting the export of the parties in order to strengthen the position of national producers and remove barriers to goods and services was emphasized.

The parties agreed to continue cooperation in the field of trade, economic and investment cooperation, including in the field of tourism, medicine, education and innovation, expansion of interregional relations, increasing contacts and projects in the cultural and humanitarian sphere.

The Caribbean Community and Common Market (CARICOM) consists of twenty countries. Fifteen of these countries are full-fledged members of the community while five of them only retain associate member status. The fifteen full-time countries are Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Lucia, Saint Kits and Nevis, Saint Vincent and the Grenadines, Suriname and Trinidad and Tobago. The associate members are Anguilla, Bermuda, British Virgin Islands, Cayman Islands and Turks and Caicos. Associate members retain part-time privileges.

These nations have collectively joined together to expand their trade and economic relations internationally, including further development of activity in international markets.

CARICOM was formed on July 4, 1973 after the founders had enacted the Treaty of Chaguaramas. The Caribbean Community and Common Market was established to replace the Caribbean Free Trade Association that existed since 1968.

The community was created to “coordinate the economic and political activities of the Caribbean countries.” The organization’s tasks also included joint trade and industrial policy and technical and financial assistance programs for its less-developed members.

Within the community, economic cooperation of member countries is developing, foreign policy is being coordinated; cooperation has been established in such areas as healthcare, education, culture, science and technology, and taxation. Within the framework of the common market, the following measures are being implemented: the introduction of a unified external tariff; pursuing a unified protectionist policy; strengthening the coordination of foreign trade policy; harmonization of tax incentives for industry and other activities.

Source: http://eurasianeconomic.org/news_ecco/2018/11/26/document4550.phtml

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