Caribbean News Now!

About Us Contact Us

Countries/Territories

Jump to your country or territory of interest

Advertise with us

Reach our daily visitors from around the Caribbean and throughout the world. Click here for rates and placements.

Contribute

Submit news and opinion for publication

Subscribe

Click here to receive our daily regional news headlines by email.

Archives

Click here to browse our extensive archives going back to 2004

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here.

Climate Change Watch

The Caribbean is especially vulnerable to rising sea levels brought about by global warming. Read the latest news and information here...

Travel


Follow Caribbean News Now on Twitter
Connect with Caribbean News Now on Linkedin



News from the Caribbean:


Back To Today's News

EU willing to fund study on cost of not having CARICOM
Published on May 31, 2014 Email To Friend    Print Version

ST GEORGE’S, Grenada -- The European Union (EU) is willing to fund a study that would explore the opportunity costs of not having a Caribbean Community (CARICOM) in place.

Ewout Sandker, head of cooperation, delegation of the EU to Guyana, Suriname and Trinidad and Tobago and the Dutch Overseas Countries and Territories, made the announcement on Monday during the high level advocacy forum on statistics in Grenada.

As he underlined the importance of a solid data foundation for development in general, and regional integration in particular, Sandker posed some questions to the forum and made reference to the path the European Union took towards integration.

He told the gathering of senior government officials, statisticians, and representatives of international organisations that, in the 1980s, the EU conducted a study that calculated the opportunity cost of not having a fully integrated market in Europe. The results, he related, were “quite amazing”. They were an “enormous push” to regional integration and provided a good opportunity for mobilizing the private sector in Europe, which saw the benefits they were not getting by not having a fully integrated market, he said.

“Something like that could be done in the Caribbean as well, and we would be happy to provide funding for such a study (of) the cost of not having CARICOM,” Sandker said.

Over the past decade, the European Union has been providing support to the Community to strengthen regional statistics and to improve its use in policy-making. About €4M of the €57M Ninth European Development Fund (EDF) cycle to the Community was allotted to produce and disseminate economic statistics, to harmonise statistical structures across the region and to train staff to use the economic statistics to monitor the regional integration process.

The EU and the Caribbean Forum of African Caribbean and Pacific States (CARIFORUM) deepened support to the field of statistics under the 10th EDF to build on earlier achievements and to fill the gaps that remained. From the €18M allocated to the CSME under the 10th EDF, about €2M was allocated to strengthen the intra-regional systems to produce and disseminate timely, high quality, harmonized statistics to monitor the CSME. The funding, Sandker said, was used to monitor regional integration, further develop merchandise trade statistics and to boost social and environmental statistics, among other areas.

Statistical monitoring of the integration movement, he said, was particularly close to his heart.

“I’ve been working on it the first time I was in Guyana with the CARICOM Secretariat and I believe that monitoring of both compliance of regional integration commitments at the national level, and secondly, the impact of regional integration activities and processes are absolutely key to the success of the regional integration enterprise.

“If you can’t measure it; if you don’t know the compliance at national levels with different areas of integration, how can you allocate resources in a sensible way? If you don’t know, you cannot prioritise. If you don’t know what is the impact of the regional integration process, how can you argue that it is a good thing? How can you argue that you should go further and deeper,” he queried.
 
Reads: 2386





Click here to receive daily news headlines from Caribbean News Now!



Back...

Comments:

No comments on this topic yet. Be the first one to submit a comment.

Back...

Send us your comments!  

Send us your comments on this article. All fields are required.

For your contribution to reach us, you must (a) provide a valid e-mail address and (b) click on the validation link that will be sent to the e-mail address you provide.  If the address is not valid or you don't click on the validation link, we will never see it!

Your Name:

Your Email:

(Validation required)

Comments:
Enter Code





Disclaimer
User comments posted on this website are the sole views and opinions of the comment author and are not representative of Caribbean News Now or its staff. Caribbean News Now accepts no liability and will not be held accountable for user comments.
Caribbean News Now reserves the right to remove, edit or censor any comments. Any content that is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will not be approved.
Before posting, please refer to our Terms of Use and Privacy Policy.



Other Headlines:



Regional Sports: