Basseterre, St. Kitts – Nevis – June 28th, 2007 (CUOPM)
There is now a much better understanding and appreciation by the United States on the urgency of the steps that are required to expand the economic opportunities for the Caribbean people. So says St. Kitts and Nevis‘ Prime Minister Hon. Dr. Denzil L. Douglas.
He told Colleague Heads of Government, United States government officials, Ambassadors and public and private sector experts there is also much better understanding and appreciation of the efforts being made on the part of the Caribbean to expand the service sector, in particular the international financial service sector as a prerequisite for economic diversification and enhanced competitiveness.
“It is for this reason that we have underscored the importance of the renewal of the Caribbean Basin Promotion Act and a revitalization of the Trade and Investment Council,” said Prime Minister Douglas, who said that the region continue to emphasise that with the Caribbean accounting for approximately 0.5 percent of total world trade, “any concession provided by USA is hardly likely to have any significant affect on the global economy.”
“We in the Community mindful of the need to level the playing field among the participating countries have established a Development Fund to provide assistance for the lesser developed countries. This is targeted as another possible area for consideration by USA for partnership in strengthening the regional enterprise,” said Prime Minister Douglas.