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    Caricom: Caribbean Community

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    Aditya Raut
    The Caribbean Community (CARICOM) has 15 full member states and 5 associate member states. CARICOM has trade agreements with the European Union (EU) regulating sugar trade. The EU guarantees to buy agreed sugar quantities from CARICOM countries. CARICOM's banana and sugar industries face challenges from globalization. While CARICOM countries have seen declining competitiveness, some factors like efficient government services and political stability contribute to easier business. India cooperates with CARICOM in areas like healthcare and technology. Bilateral trade has increased mainly in extractive industries, with opportunities to expand agricultural trade. Most CARICOM countries rank moderately on the World Bank's ease of doing business assessment, with some room to improve starting businesses and insolvency practices.

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    Caricom: Caribbean Community

    Uploaded by

    Aditya Raut
    52 views30 pages
    The Caribbean Community (CARICOM) has 15 full member states and 5 associate member states. CARICOM has trade agreements with the European Union (EU) regulating sugar trade. The EU guarantees to buy agreed sugar quantities from CARICOM countries. CARICOM's banana and sugar industries face challenges from globalization. While CARICOM countries have seen declining competitiveness, some factors like efficient government services and political stability contribute to easier business. India cooperates with CARICOM in areas like healthcare and technology. Bilateral trade has increased mainly in extractive industries, with opportunities to expand agricultural trade. Most CARICOM countries rank moderately on the World Bank's ease of doing business assessment, with some room to improve starting businesses and insolvency practices.

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    Final Caricom

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    Final Caricom

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    The Caribbean Community (CARICOM) has 15 full member states and 5 associate member states. CARICOM has trade agreements with the European Union (EU) regulating sugar trade. The EU guarantees to buy agreed sugar quantities from CARICOM countries. CARICOM's banana and sugar industries face challenges from globalization. While CARICOM countries have seen declining competitiveness, some factors like efficient government services and political stability contribute to easier business. India cooperates with CARICOM in areas like healthcare and technology. Bilateral trade has increased mainly in extractive industries, with opportunities to expand agricultural trade. Most CARICOM countries rank moderately on the World Bank's ease of doing business assessment, with some room to improve starting businesses and insolvency practices.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    52 views30 pages

    Caricom: Caribbean Community

    Uploaded by

    Aditya Raut
    The Caribbean Community (CARICOM) has 15 full member states and 5 associate member states. CARICOM has trade agreements with the European Union (EU) regulating sugar trade. The EU guarantees to buy agreed sugar quantities from CARICOM countries. CARICOM's banana and sugar industries face challenges from globalization. While CARICOM countries have seen declining competitiveness, some factors like efficient government services and political stability contribute to easier business. India cooperates with CARICOM in areas like healthcare and technology. Bilateral trade has increased mainly in extractive industries, with opportunities to expand agricultural trade. Most CARICOM countries rank moderately on the World Bank's ease of doing business assessment, with some room to improve starting businesses and insolvency practices.

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    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 30

    CARICOM

    Caribbean Community

    Member Nations
    CARICOM Members Status Full member Antigua and Barbuda' Bahamas Barbados Belize Dominica Grenada Guyana Haiti Jamaica Montserrat Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Suriname Trinidad and Tobago Associate Anguilla Bermuda British Virgin Islands Cayman Islands Turks and Caicos Islands Observer Aruba Colombia Curaao Dominican Republic Mexico Puerto Rico Sint Maarten Venezuela

    CARICOM: Relations with EU


    European Union (EU) The EU is a family of democratic European countries, committed to working together for peace and prosperity. It is not a State intended to replace existing states, but it is more than any other international organization. Its Member States have set up common institutions to which they delegate some of their sovereignty so that decisions on specific matters of joint interest can be made democratically at European level. In the early years, much of the co-operation between EU countries was about trade and the economy, but now the EU also deals with many other subjects of direct importance for our everyday life, such as citizens' rights; ensuring freedom, security and justice; job creation; regional development; environmental protection; making globalization work for everyone.

    Benefits to CARICOM States


    In industrialized countries, even those selling sugar to the world market, many social benefits are made available by the state, whereas in CARICOM countries, housing, health care, education, recreation, and other such benefits are more often than not provided by sugar producers. EU port refineries to be supplied reliably and predictably, and therefore the maintenance of an EU cane sugar refining industry Which is a valuable complement to the beet industry. CARICOM sugar is more than simply a matter of trade; because the agreements encompass mutual political and economic rights and obligations which extend well beyond the confines of sugar refining.

    SUGAR TRADE
    Sugar trade between CARICOM and the European Union is regulated by two trade agreements: The ACP/EU Sugar Protocol and The Agreement on Special Preferential Sugar (SPS). ACP/EU Sugar Protocol The fundamental principles enshrined in the Sugar Protocol are the following: Agreed Quantities Guaranteed Prices Indefinite duration The Sugar Protocol is an agreement between governments whereby the EU Member States guarantee to buy and import agreed quantities of sugar which the ACP Signatory States undertake to Sell.

    CARICOM: Banana and Sugar Industry


    Banana Producers Jamaica St. Lucia St. Vincent & the Grenadines Sugar Producers Belize Guyana Jamaica St. Kitts & Nevis

    CARICOM Banana Industry


    The most immediate threat of globalization is to the banana industry in the Windward Islands, Belize and Jamaica. Banana export data for 1998 shows a decline with worrying implications for dead freight payments (for unused cargo space) and for the future of the industry. There was some concern falling prices in July 1999, prompted by increased supply from Central America and a slight weakening of sterling against US$, to which the EC$ is pegged. As a result of improved quality and direct sales to supermarkets, the free-on-board price was L604/ tone in May 1999, 6.1% above year earlier levels. The price advantage of Windward fruit over dollar banana reached 27.2%.

    CARICOM Banana Industry


    Caribbean banana productions faced steadily increasing cost of production during the past 10years. Physical sizes of banana producing countries limit expansion of banana cultivation, further endangering the industry. Banana exports from the Caribbean countries decreased steadily during 1995-99 due to natural disasters, low market demand and low prices offered.

    Competitiveness in CARICOM
    Within the 148 countries surveyed, seven Caribbean/CARCIOM countries were included: Barbados, the Dominican Republic, Guyana, Haiti, Jamaica, Suriname, and Trinidad and Tobago The WEF defines competitiveness as the set of institutions, policies, and factors that determine the level of productivity of a country.

    Performance of CARICOM countries

    Factors Contributing to Ease of

    Business in CARICOM

    Overview
    The competitiveness of Caribbean/CARICOM countries has been declining Most countries in the region are still experiencing an economic decline, which is likely to continue into the foreseeable future More critical for governments to endeavour to create more enabling environments by implementing policies, removing bottlenecks and bureaucracy, fostering efficiency etc that encourage and facilitate investment and innovation.

    Area of cooperation between India and CARICOM


    Indias membership of the Caribbean Development Bank Greater Indian participation in Caribbean Supply of retroviral drugs for fighting HIV/AIDS. CARICOM has also requested Indias contribution to CARICOM Development Fund (CDF) to fund economic activities with the CARICOM region. Government of India funded the US$ 1 million for information technology and communication infrastructure. We provided computer software and community studio at the CARICOM Secretariat.

    Relationship between India and CARICOM


    CARICOMs exports to India have grown fast in the last decade but are still mainly in the extractive industries. Between 2001 and 2009, it finds, CARICOM exporters expanded their export sales generated in India by an average of 59%, making this one of the regions most dynamic export markets over this period. However, exports of liquefied natural gas and crude petroleum oil from Trinidad & Tobago accounted for 72% merchandise exports.

    Since most of these goods face zero or low tariffs in the Indian market, the CRNM does not see this as a priority area for trade negotiations. However, there are some regional exports that face high tariff barriers, some of which are agricultural products. In 2009, Indian importers spent US$266bn on global merchandise imports. India also represents a dynamic global market with import spending expanding by approximately 23% annually between 2001 and 2009

    Among the CARICOM countries, The Bahamas is the leading market for Indias exports, accounting for 77% of Indias total exports to the region during 2009-10 Other major export destinations of India in the region are Trinidad and Tobago, Haiti, Jamaica, Suriname Guyana, and Barbados. Trinidad and Tobago is the leading import source, accounting for 79 percent of Indias total imports from the region during 2009-10

    Ease of Doing Business


    A review of the Doing Business 2013 report, published by the World Bank, and the extent to which select government regulations and processes support businesses in the Caribbean.

    World Banks Doing Business 2013 report


    Highlights the ease of doing business by analysing regulations that apply to an economys businesses during their life cycle, including start-up and operations, trading across borders, paying taxes, and protecting investors The Doing Business 2013 study assesses local business regulations that affect small-to-medium sized businesses across the following 10 indicators: 1. starting a business 2. dealing with construction permits 3. getting electricity 4. registering property 5. getting credit 6. protecting investors 7. paying taxes 8. trading across borders 9. enforcing contracts 10. resolving insolvency.

    Rankings according to the Report


    Overall Rankings
    Ranking of CARICOM nations

    Note: The lower the number, the better the ranking.

    Starting a business in CARICOM nations

    Performance of select Caribbean countries on the ease of starting a business in 20112012 (Source: World Bank)

    Getting credit in CARICOM nations

    Performance of select Caribbean countries on the ease of securing credit in 20112012 (Source: World Bank)

    Paying taxes in CARICOM nations

    Performance of select Caribbean countries on the ease of paying taxes and the burden of those taxes on businesses in 20112012 (Source: World Bank)

    Resolving insolvency in CARICOM nations

    no practice status means that a country has had zero insolvency cases a year over the past 5 years.

    Conclusion

    Thank You

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