Private Sector Commission

January 30, 2019 The announcement on December 3, 2018, at…

January 30, 2019

The announcement on December 3, 2018, at the 18th meeting of Heads of Government on the Caribbean Single Market and Economy, that private sector and labour institutions would be included as associate institutions in the Conferences of the Heads of Government went largely unnoticed by the average Caribbean citizen.

Yet this development has significant implications for the functioning of the Single Market and Economy and can be considered to be a major step towards acceleration of the implementation of the goals of the CSME. It is indisputable that the private sector and labour are the true drivers of the economies of our nation states and this inclusion begs the question of why it was not done before when institutions such as the regional university have long been part of these deliberations.

The Private Sector Commission is of the firm belief that this decision will afford the Heads of Government direct access to the major economic actors and thus allow them to make more informed decisions which will be of practical import to the citizens. The Caricom Single Market and Economy is intended to support growth and development in the economies of the countries across the Caribbean yet the obvious decisions which would be necessary for regional growth have often been slow in coming and such decisions when made are often slow to be implemented. Private sector participation in the decisions of the leaders will ensure buy-in by the economic actors while the inclusion of labour will ensure that these decisions take cognizance of accepted labour standards and the general welfare of our workers.

The Private Sector Commission welcomes this move by the Heads of Government of Caricom and sees it as a positive development towards inclusive economic development of our region.

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