Greater trade and investment opportunities for CARICOM states

Greater trade and investment opportunities for CARICOM states

CARICOM and the United States of America have signed a Trade and Investment Framework Agreement (TIFA) which is expected to be the driver for strengthened trade and investment ties between the region and the United States.

The agreement will serve as a mechanism for CARICOM and the US to develop practical strategies on a wide range of trade, investment and economic cooperation issues.

Acting Prime Minister Honourable Philip J Pierre who witnessed the signing of the agreement says this agreement would be essential to spurring economic development and diversification of the economies of the region, and thereby contributing to improvement in the well-being of citizens.

“Four CARICOM Prime Ministers were chose to lead discussion with the US Vice President and Mr. Biden responded making the point that the US is very interested in the well being of the region and its people particularly in these times of economic strain and the Vice President remarked that while the United States is going through its own pressures they are willing to build capacity of CARICOM nations particularly in the area of trade and in this regard the trading and investment package was signed by Mr. Biden and CARICOM Governments to facilitate greater trade and investment in the region”.

During his 21 hour visit to Trinidad and Tobago the US Vice President discussed a range of issues with CARICOM Leaders including renewable and affordable energy, crime and security.

The Acting Prime Minister says the meeting was frank and cordial and will undoubtedly enhance relations between CARICOM and Washington.

“The meeting was very frank, the VICE President was clear in what the United States wants for their nation and the CARICOM Leaders were also very frank and it was a very congenial yet professional atmosphere and importantly the relationship between CARICOM and the US was strengthened, rekindled and we are hoping for improvements in cooperation and the quality of the relationship particularly in the area of trade and investment in the future”.

Acting Prime Minister Pierre says he is confident that following the meeting with the US Vice President, American policy makers will be more sympathetic to the region’s concerns.

He expects the region to benefit from increased areas of cooperation with the United States of America in the coming years.
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