Central America and the Caribbean together represent a market of approximately 56 million people. According to the Secretary General Albert Ramdin, it is time to exploit all business opportunities and implement specific initiatives to expand trade and investment between both regions. "To accomplish this, the governments of both parties must be willing to review the existing trade environment and reduce the barriers. At the same time, the private sector must be ready to establish creative relationships with their counterparts," said Ambassador Ramdin.
The current challenges for trade and investment identified by senior executives in the region include: limited transportation options, challenges in connectivity, lack of data on investment and economic opportunities, the existence of different laws and regulations for business and investment, the language barrier and visa restrictions.
The recommendations for the future for business people include the suggestion to renew discussions on a trade agreement between Central America and the Caribbean, the feasibility of providing long-term visas for investors, reviewing the requirements for obtaining a work permit, specialized business language courses and building trust as the foundation of pan-Caribbean business.
The Assistant Secretary General Ramdin also welcomed the interest of Trinidad and Tobago in hosting the second high-level meeting of senior executives from SICA and CARICOM in 2012.
The meeting, convened by the Secretary General of the Organization of American States (OAS), Albert Ramdin, and the President pro tempore of SICA and Foreign Minister of El Salvador, Hugo Martinez, was also attended by the Ministers of Economy and Commerce of El Salvador, Guatemala, Jamaica, Panama, and Trinidad and Tobago. The Foreign Minister of Suriname and the Secretary General of CARICOM and SICA also attended the meeting.
Source: OAS - Organization of American States
More on this topic
January 2012
The crisis in developed countries is forcing markets to diversify; the relationship between the Caribbean and Central America is one showing great commercial potential.
The Association of Caribbean States (ACS) is made up of 28 countries with a potential market of 63 million people.
February 2012
In 2013, Guatemala will host the General Assembly of the Organization of American States (OAS), announced President Otto Perez.
The president, after meeting with Deputy Secretary General of the organisation, Albert Ramdin, told reporters that "the OAS General Assembly is an important matter for us because it is an event where representatives come from every country and it will take place here in Guatemala", reported the web site MiPunto.com.
May 2009
US Secretary of State, Hillary Clinton will visit the country to attend the inauguration of Salvadoran president-elect Mauricio Funes on June 1.
The Secretary of State announced that after visiting El Salvador on June 1, she will be in Honduras on June 2 and 3 to attend the General Assembly of the Organization of American States (OAS).
September 2011
The Ministry of Economy is preparing a work plan to negotiate a FTA with South Korea and the States of the Caribbean Community (Caricom).
In light of statements by the representative Luis Velasquez, President of the Chamber of Industry of Guatemala (CIG), Andres Castillo said it is essential to review the benefits that these treaties would bring, taking into account that the last contracts signed were more in response to political rather than commercial interests.
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