Grenada hosts regional trade negotiation workshop with WTO to improve Caribbean islands’ capacity

The Grenadian government recently hosted a regional trade negotiation workshop at the True Blue Bay Resort in St George’s jointly with the World Trade Organisation (WTO) to address, among other issues, the Caribbean region’s vulnerabilities in matters of trade.

Besides representatives from the host island-nation, the event saw participants from St Lucia, St Kitts and Nevis, and St Vincent and Grenadines.

The workshop took place at a time when global efforts are underway to find solutions for unique trade challenges that small-island development states, especially in the Caribbean, Grenada’s government sources said.

The training given to trade officials at the workshop was designed to equip them with the skills and information required to navigate tough talks in trade amid evolving global trade dynamics and the essential need for regional synchronization.

Intensive sessions at the workshop were facilitated by Franziska Kirschke, an experienced training officer from the WTO Institute for Training and Technical Cooperation. The discussions focused on key areas such as techniques of negotiation, analysis of trade policy, and strategies to improve market access for Caribbean exports, with an eye on protecting national interests.

Trade vital force for growth and prosperity

Joseph Andall, Grenada’s minister for foreign affairs, trade, and export development, delivered the opening address at the workshop wherein he stressed the significance of capacity-building measures for the countries located in the Caribbean.

“Trade has become a vital force for growth, development, and prosperity, and this workshop represents an essential part of that process, focusing on enhancing the capacity of regional stakeholders to navigate the evolving dynamics of international trade,” he said.

Andall added that the trade negotiation workshop gave a special opportunity to examine the nuances of regional trade negotiations and a forum for exchanging information wherein the frontline technicians can build upon their shared values and experiences.

The Caribbean region today faces several challenges that hamper its countries’ growth. They range from climate change and natural disasters, scarcity of resources, geopolitical tensions, complex access to financing, high debts and a very little fiscal space to bring social reforms, to high trade costs, limited diversification and vulnerability to global economic shocks.

To negate the pressing economic challenges, the Caribbean countries need to proactively address the region’s weaknesses in trade issues and the workshop made a positive contribution in that direction. The Caribbean nations must enhance their negotiation skills in trade if they want to cash in on opportunities in international markets to clinch equitable trade deals and promote the region’s economic integration.

Participants at the workshop appreciated the comprehensive training that was provided. One of them said they received actionable insights and tools that will help them approach

negotiation tables with greater confidence and strategy. “It has also reinforced the importance of regional unity in global trade discussions,” the participant remarked.

The Grenadian government thanked the WTO for extending continued support and remaining committed to fostering a milieu of cooperation and capacity-building in issues about trade.

In January 2020, an International Monetary Fund research paper said while deep economic integration within the Caribbean region has been a priority since the setting up of the Caribbean Community (CARICOM) and the decision to establish the Caribbean Single Market and Economy (CSME), the implementation of the initiative has lacked steam despite pledges by political leaders. The paper claimed that liberalizing trade and labor mobility in the Caribbean could generate major economic benefits but a slow implementation of institutional arrangements has delayed the desired results.