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Posted in: Press Releases by admin | 03 January 2001 | Release Ref #: 01/2001 | 3037

    The Tenth Meeting of the Council for Trade and Economic Development (COTED) will focus on crucial issues concerning the establishment of CARICOM Single Market and Economy (CSME) when the week-long officials and ministerial deliberations begin at the Guyana-based CARICOM Secretariat on 8 January, 2001.

    The outcome of the Second Special Consultation between CARICOM and the Civil Society leadership in Barbados last November is also expected to dominate the proceedings, starting with a two-day session of CARICOM Officials. The Officials will set the agenda for the Ministerial encounter on 11 and 12 January.

    High on the agenda of the COTED Ministerial Meeting - one of four Ministerial Organs of CARICOM - will be the implementation of Protocol II as it relates to the removal of restrictions to intra-regional trade, goods and services.

    Protocol II deals with Rights of Establishment, Provision of Services and Movement of Capital under the Single Market arrangement. COTED is responsible for the promotion of trade and economic development within the Community, and it oversees the operations of the CSME.

    The Ministers and Officials will also examine CARICOM's bilateral, regional, hemispheric and multilateral arrangements for trade in Services in relation to the CSME. Additionally, they will consider developments in the Region's External Economic and Trade Relations. CARICOM's position in the World Trade Organisation (WTO) negotiations on Agriculture and Services, as well as a series of proposals from the Regional Negotiating Machinery (RNM) on varying aspects of CARICOM External Economic and Trade Relations will also come up for discussion before the delegates.

    The COTED is also expected to deliberate on a range of issues relating to Trade in Goods, including Trade in Rice, the impact of the USA PL 480 Programme on Soymeal Sales in the Region, the Common External Tariff (CET) and the Common Market Rules of Origin.

    A Regional Monitoring Mechanism for Trade in Rice as proposed by Guyana is one of the measures expected to be put before the Meeting.

    CSME stands for CARICOM Single MARKET & Economy.

    The CSME Unit of the CARICOM Secretariat is the implementation office which assists the Member States in fulfilling the requirements of the Revised Treaty of Chaguaramas.

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