CDB To Support Increased Trade Among CARICOM Member States

BRIDGETOWN – The Board of Directors of the Caribbean Development Bank (CDB) has approved US$750,000 in funding for a programme that will assist the Caribbean Community (CARICOM) with strengthening intra-regional trade.

At least five countries – Antigua and Barbuda, Grenada, Guyana, Saint Lucia and Suriname – will benefit from three interventions to be implemented by the CARICOM Regional Organization for Standards and Quality (CROSQ).

“This programme will assist producers with overcoming some of the challenges encountered when trying to export their products, and will therefore enhance their ability to increase market access, penetrate new markets and integrate into global value chains,” said Daniel Best, Director of Projects at the CDB.

“Some of the key constraints manufacturers, exporters and service providers in the CARICOM face are caused by non-tariff trade barriers, otherwise known as Technical Barriers to Trade (TBTs),” he added.

The Director also noted that well-functioning quality infrastructure can minimize TBTs, open doors for producers in CARICOM countries to regional and international markets, and help them to raise the standard of their production processes, thereby enhancing their competitiveness.

Quality infrastructure refers to the public and private institutional framework required to implement standardization, accreditation and conformity assessment services, including inspection, testing, and laboratory and product certification.

The CDB-funded interventions will assist with bringing Regional goods in line with international standards.Read More…..http://curacaochronicle.com/region/cdb-to-support-increased-trade-among-caricom-member-states/

You might also like