Economy March 2, 2016 | 8:48 am

Twelve Caribbean countries endorse a joint communique to accelerate pro-growth reforms

Belize City.– Twelve Caribbean countries on Tuesday endorseda joint communique to move forward on their pro-growth agenda.

“This event is an important milestone for member countriesof the Caribbean Growth Forum. Together with our partner institutions, theWorld Bank is fully committed to support the sustainable development agendathat many Caribbean nations are pursuing and to identify innovative solutionsthat will generate growth, competitiveness and job creation,” said the WorldBank Country Director for the Caribbean, Sophie Sirtaine. “This initiativeprovides a real platform for Caribbean nations to accelerate progress made onreform actions and foster greater focus on results, transparency andaccountability”.

COMMUNIQUE

Caribbean countries renewing commitment to sustainablegrowth

New milestone for the Caribbean Growth Forum

1. We, therepresentatives of the countries engaged in the Caribbean Growth Foruminitiative, reaffirm our commitment to shape a new agenda for sustainable andinclusive growth in the Caribbean.

2. We welcome theresults accomplished in Phase I of the Caribbean Growth Forum and are committedto building on those results to enhance the competitiveness of our respectivecountries.

3. We recognizethe importance of considering each country’s specificities and needs as weimplement national roadmaps for reforms.

4. We reaffirmour commitment to shape national and regional reforms and to help track theimplementation of actions launched to spur sustainable growth, create jobs andensure shared prosperity.

5. We recognizethat the Caribbean Growth Forum provides an important platform for regionalreforms to be implemented, and where regional peer-to-peer learning and accessto global good practices is essential to foster innovation.

6. To address thecommon challenges faced by Caribbean countries, we commit to further engage inan inclusive and transparent dialogue with key public and private partners aswell as the civil society. More regular engagement with all Caribbeanstakeholders will help focus on results and deliver on agreed actions outlinedin country roadmaps.

7. We firmlybelieve that coordination mechanisms within government need to be strengthenedin each country to ensure consistent monitoring and engagement withstakeholders.

8. We considerthat accountability mechanisms present a unique way of defining reformsclearly, with realistic timelines and associated performance indicators. Assuch, we underline the need for more systematic planning and feedbackmechanisms to inform policy making and help assess the impact of identifiedreforms.

9. We alsobelieve that to maximize sustainability, the Caribbean Growth Forum should befurther anchored in local and regional institutions.

10. We welcome theCaribbean Growth Forum Working Group recommendations to review and refineexisting reforms under the three thematic areas of Investment Climate; Skillsand Productivity; and, Logistics and Connectivity. Each reform actions shouldhave specific and measurable milestones, and the CGF will provide a frameworkand facilitate the review process. In this context, we recognize the need toalso respond to emerging priorities.

11. Starting now,we affirm our commitment to deliver regular progress reports from the agreednational and regional roadmaps in line with existing national reportingmechanisms and to make these reports publicly available.

12. Finally, wewelcome the coordination, facilitation and advisory support provided by theWorld Bank, the Inter-American Development Bank, and the Caribbean DevelopmentBank in moving our pro-growth reform agendas forward.

Anguilla, Belize, Dominica, the Dominican Republic,Grenada, Guyana, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia,Suriname and Saint Vincent and the Grenadines.

BACKGROUND: TheCaribbean Growth Forum (CGF) provides a platform for private sector and civilsociety to give feedback on national reforms and help track the implementationof actions needed to spur sustainable growth and opportunities for all in theCaribbean. The initiative is facilitated by the World Bank Group (WBG) inpartnership with the Inter-American Development Bank (IDB), the CaribbeanDevelopment Bank (CDB), and with support from the United Kingdom Agency forInternational Development (UKAid), Global Affairs Canada, the Italian DevelopmentCooperation, the European Union, InfoDev, the Competitive Industries andInnovation Program, Caribbean Export, CARICOM Secretariat and the University ofthe West Indies.

For further information, please contact in Belize: Mr.Pakeman 610-1248, director@pressoffice.gov.bz

Comments