Regional and Global Integration: Implications and Strategies for the Caribbean
19 Nov 2011
In a rapidly changing global economic environment the Caribbean countries are facing new challenges to harness the benefits of regional and global integration. Trade preferences are increasingly being eroded and non-traditional trade costs - such as transport and logistics costs - are gaining in relevance as global supply chains expand. In a new economic geography setting, the region crucially depends on developing efficient integration corridors to support trade flows. These are some of the topics to be discussed in the upcoming Caribbean Meeting of the Trade and Integration Network of the Regional Policy Dialogue of the IDB, organized in collaboration with the Caribbean Community (CARICOM) Secretariat, and to be attended by Ministers and Permanent Secretaries of the Caribbean countries.
The first session of the meeting will focus on how the Caribbean countries can efficiently combine investments in the software (trade policy and regulations) and hardware (physical infrastructure) of integration, and complement interventions at the national and regional level. The second session will discuss the potential to diversify the export of services, including in high value added areas such as information technology and business process outsourcing, as well as medical tourism, while the third session will cover trade corridors and logistics issues (see attached agenda).
The Trade and Integration Network of the Regional Policy Dialogue of the IDB is a forum that brings together high level policy makers from member countries to discuss strategic issues, policy priorities and areas of cooperation. It is organized by the Integration and Trade Sector of the Vice-Presidency for Sectors and Knowledge of the Inter-American Development Bank, in close cooperation with the Network members from the borrowing member countries. Attendance at the meeting is by invitation only.