1. Trade Policy
Objective
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The Regional Integration session aimed to explore the strategy to strengthen Caribbean intraregional economic relation with special focus on: i) achieving competitiveness gains through
integration; ii) assessing barrier to economic convergence; and iii) improve the environment for
doing business to raise growth.
Key messages to the participants
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The Caribbean region remains a weak competitive and undiversified region.
The World Bank Trade Strategy could serve as a framework to boost the region’s trade
integration and help it reap the full benefits of integration into the world economy.
There are practical options for regional integration in the OECS through economic diversification.
Key nascent industries exist which may increase intra-regional and global trade.
Key take-aways from the participants' interaction
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Reducing transport costs would be critical to enhance the region’s competitiveness.
Connectivity among islands in particular maritime and air transport connectivity would offer an
opportunity to boost the Caribbean’s trade and growth.
The World Bank should provide its technical expertise and knowledge on trade issues to advance
the competitiveness and diversification agenda of the region.