Dodging Dutch Disease: Targeting Services in Guyana
Chryssanti Braithwaite$*Since the start of oil production in 2019, Guyana’s economy has not merely grown, but has taken off. This can be substantiated by the fact that in 2024 the real Gross Domestic Product (GDP) increased by an impressive 43.6 per cent. In 2022, oil exports accounted for approximately 88 percent of total domestic exports, while sugar, gold, bauxite, shrimp, fish and fish byproducts, timber and rice contributed approximately 90 percent of the non-oil exports. The country stands as one of the world’s fastest-growing economies. More importantly, although the revenue gained provides an opportunity for the country to strategically attain global prominence, through policy strategies and development agenda. Overreliance on the sector can heighten the risk of “Dutch disease”, a phenomenon that may undermine
Navigating Change: CARICOM’s Path to Sustainable and Resilient Trade in a Shifting Geopolitical Landscape
Ambassador Matthew Wilson & Brian Kelly Nyaga$*CARICOM Member states are navigating a complex multipolar crisis defined by shifting geopolitical alignments, increasing debt, escalating climate pressures, and accelerating biodiversity loss. Together, these systemic challenges pose significant risks to the region’s trade competitiveness and market access opportunities, potentially undermining economic resilience and sustainable development. Addressing these challenges requires coordinated policy responses that strengthen regional integration, preserve existing trade relations, diversify economic opportunities, and enhance adaptive capacity in the face of this global uncertainty.
Opportunities for Economic Growth and Development Presented by the Afreximbank-CARICOM Partnership
Adiella Lewis$*From 30-31 October 2023, Heads of Governments, delegates, private sector representatives, and other key stakeholders from Africa and the Caribbean gathered in Georgetown, Guyana for the second annual AfriCaribbean Trade and Investment Forum (ACTIF) organized by the African Export-Import Bank (Afreximbank). Building on the success of the first ACTIF, held in September…
Outcomes from the 2023 WTO Public Forum
Adiella Lewis$*On its website, the World Trade Organization (WTO) describes its annual as its largest outreach event, designed to provide a platform to discuss the latest developments in global trade and propose ways to enhance the multilateral trading system. As indicated by the theme “It Is Time for Action”, this year’s Public Forum…
3rd Annual Distinguished Owen S. Arthur Memorial (DOSAM) Lecture Series – Sept 28, 2023
3rd Annual Distinguished Owen S. Arthur Memorial (DOSAM) Lecture Series – Sept 28, 2023 Author: The Shridath Ramphal Centre for International Trade, Law, Policy and Services (SRC) presents the Third Distinguished Owen S. Arthur Memorial Lecture Series on Thursday, September 28th, 2023 at the Errol Barrow Centre for Creative Imagination (EBCCI) at 6:00 p.m. AST. The SRC remembers Professor Arthur as a Caribbean son, an ardent regionalist, a strong voice for small and vulnerable economies, a fearless defender of national sovereignty, a bold leader and an inspirational mentor. This Lecture Series calls for a continuation of Professor Arthur’s discourse on small and vulnerable economies and the need to shift the rubicon of measurement to one that is more equitable while src trade blog September 22, 2023 The Shridath Ramphal Centre for International Trade, Law, Policy and Services (SRC) presents the Third Distinguished Owen S. Arthur Memorial Lecture Series on Thursday, September 28th, 2023 at the Errol Barrow Centre for Creative Imagination (EBCCI) at 6:00 p.m. AST. The SRC remembers Professor Arthur as a Caribbean son, an ardent regionalist, a strong voice for small and vulnerable economies, a fearless defender of national sovereignty, a bold leader and an inspirational mentor. This Lecture Series calls for a continuation of Professor Arthur’s discourse on small and vulnerable economies and the need to shift the rubicon of measurement to one that is more equitable while enhancing regional integration. The Third Distinguished Lecture will be delivered by the newest Governor of the Barbados Central Bank, Dr. Kevin Greenidge to share his vision for Central Bank and Export-Import Banks. Prior to assuming the role of Governor, Dr. Greenidge was a Senior Economist at the International Monetary Fund (IMF) for over a decade. During this time, while on secondment, he was the Senior Economic Advisor to the Barbados Government where he was instrumental in the design and implementation of the Barbados Economic Recovery and Transformation (BERT) programme. As a long-standing Economist, Dr. Greenidge spent 17 years at the Central Bank of Barbados where he was the Bank’s Director of Research and Economic Analysis Department (READ). Dr. Greenidge’s 25-year career spans economics, finance and public policy. He is a distinguished author with over 200 publications. He is also a member of the International Atlantic Economic Society, the Western Economic Association and a Fellow of the Cambridge Commonwealth Society. This Lecture Series provides Dr. Greenidge with an opportunity to share his insights with a wide hemispheric audience, regional diplomatic core, regional institutional leadership and members of the public in the presence of the Arthur family, invited friends and colleagues. At the same time, the Lecture Series will be a unique opportunity for us within the University Community to unite a wider regional public. The text of the distinguished lecture will be published on the website of the SRC. Recent Trade Blogs Webinar Recording – Industrial Policy and Regional Cooperation Watch Now: “An Evening with Sir Shridath Ramphal” SRC Policy Brief – A Sustainable and Inclusive Trade Agenda for CARICOM Crafting Gender-Responsive Trade Policies SRC Director Featured on Morning Barbados Remaking Trade Project – Villars Framework for a Sustainable Global Trade System 3rd Annual Distinguished Owen S. Arthur Memorial (DOSAM) Lecture Series – Sept 28, 2023 Boosting CARIFORUM’s Trade Capacity Through Skills Training and Investment Why the Bridgetown Initiative on Climate Finance is Good For Trade Pound Volatility’s Implications for Caribbean Tourism and Trade
SRC celebrates Africa-CARICOM Day!
SRC celebrates Africa-CARICOM Day! Author: The SRC joins with our brothers and sisters in the Caribbean Community (CARICOM) and the African continent to commemorate Africa-CARICOM Day 2023! Africa-CARICOM Day is celebrated every September 7 since 2022 following a decision coming out of the inaugural Africa-CARICOM summit held on that date in 2021. We also acknowledge the strengthening of Africa-Caribbean institutional arrangements for the promotion of greater trade, tourism and investment between our two regions, including the recent establishment of a CARICOM branch of the AfriExim Bank. In commemoration of this important day, we draw attention to the SRC’s work on this burgeoning area src in the news September 8, 2023 The SRC joins with our brothers and sisters in the Caribbean Community (CARICOM) and the African continent to commemorate Africa-CARICOM Day 2023! Africa-CARICOM Day is celebrated every September 7 since 2022 following a decision coming out of the inaugural Africa-CARICOM summit held on that date in 2021. We also acknowledge the strengthening of Africa-Caribbean institutional arrangements for the promotion of greater trade, tourism and investment between our two regions, including the recent establishment of a CARICOM branch of the AfriExim Bank. In commemoration of this important day, we draw attention to the SRC’s work on this burgeoning area of trade on our dedicated CARICOM-Africa trade relations webpage here.
SRC hosts Trade and Climate Change Workshop
SRC hosts Trade and Climate Change Workshop Author: On May 2-5, 2023, the SRC hosted a workshop entitled Trade and Climate Action: Shifting the Paradigm for a Just Transition and Sustainable Development in Bridgetown, Barbados on 2-5 May 2023. The event brought together policymakers, academics, regional and international officials, civil society leaders, business and finance executives from the fields of finance, trade, sustainable development, and climate change. Together, this group of thought leaders, including strong representation from the Global South, debated and proposed solutions on how the trade agenda can advance sustainable climate action in a manner that meets the needs and priorities of developing countries. One immediate src in the news May 19, 2023 On May 2-5, 2023, the SRC hosted a workshop entitled Trade and Climate Action: Shifting the Paradigm for a Just Transition and Sustainable Development in Bridgetown, Barbados on 2-5 May 2023. The event brought together policymakers, academics, regional and international officials, civil society leaders, business and finance executives from the fields of finance, trade, sustainable development, and climate change. Together, this group of thought leaders, including strong representation from the Global South, debated and proposed solutions on how the trade agenda can advance sustainable climate action in a manner that meets the needs and priorities of developing countries. One immediate output of the meeting will be a synthesis document highlighting key areas that the trade agenda must prioritize for reform and/or action to promote and advance the sustainability agenda, including climate action, for developing countries. The key note address was delivered by Prime Minister of Barbados, the Hon. Mia Amor Mottley. The welcome event, including Prime Minister Mottley’s key note event, may be viewed below. The SRC thanks all participants, attendees and everyone who made this workshop the success that it was. https://www.youtube.com/watch?v=lr1tNhDng6I
Uncovering a Sustainable Digital Trade Pathway for the Caribbean
Dr. Jan Yves Remy$*As a co-lead of the Remaking the Global Trading System for a Sustainable Future Project (The Remaking Trade Project), I had the privilege last month to take our “trade and sustainability” crusade to New Delhi, India, and the Villars, Switzerland. The Remaking Trade Project is an attempt by…
Tributes to Ambassador the Honourable Dr. Richard L. Bernard, OJ
Tributes to Ambassador the Honourable Dr. Richard L. Bernard, OJ Author: Tributes to Ambassador the Honourable Dr. Richard L. Bernard, OJ Author: Tributes to Ambassador the Honourable Dr. Richard L. Bernard, OJ Author: Tributes to Ambassador the Honourable Dr. Richard L. Bernard, OJ Author: [vc_row][vc_column][vc_column_text]Tributes to Ambassador the Honourable Dr. Richard L. Bernard, OJ from former Colleagues who served in the Caribbean Regional Negotiating Machinery (CRNM) IMPRESSIONS OF AMBASSADOR RICHARD BERNAL JAN YVES REMY , JUSTIN HAWLEY , AND AYANNA YOUNG-MARSHALL (FORMER INTERNS UNDER THE CRNM PROFESSIONAL TRAINEES PROGRAMME) Many of us who consider ourselves to be among the Caribbean region’s trade cognoscenti have our beginnings in the coveted Professional Traineeship Uncategorized April 4, 2023 Tributes to Ambassador the Honourable Dr. Richard L. Bernard, OJ from former Colleagues who served in the Caribbean Regional Negotiating Machinery (CRNM) IMPRESSIONS OF AMBASSADOR RICHARD BERNAL JAN YVES REMY , JUSTIN HAWLEY , AND AYANNA YOUNG-MARSHALL (FORMER INTERNS UNDER THE CRNM PROFESSIONAL TRAINEES PROGRAMME) Many of us who consider ourselves to be among the Caribbean region’s trade cognoscenti have our beginnings in the coveted Professional Traineeship Programme, funded by CIDA and DFID, and administered by the Caribbean Regional Negotiating Machinery (CRNM). In the early to mid-2000s, those of us lucky enough to have been chosen as trainees under the Programme would have first encountered Ambassador Richard Bernal as Director-General of the then CRNM, headquartered in Jamaica and with an office in Barbados. The time spent in the 10-month internship was an indelible component of our early forays in the field of trade policy and negotiations, and Ambassador Bernal, who would serve variably as our supervisor, mentor, and fellow trade colleague, is an important part of that experience. No matter in what capacity we have subsequently come to serve the region – whether as Ambassadors, lecturers, consultants, local or international civil servants – we continue to hold him in high regard and with a certain measure of deference. Read more
Interning with the African Export-Import Bank in Cairo, Egypt
Adiella Lewis$*As a Barbadian national, interning at the African Export-Import Bank (Afreximbank) in Cairo Egypt following the completion of my Master’s in International Trade Policy at the University of the West Indies was undoubtedly, a career defining experience. This once in a lifetime opportunity allowed me to travel and experience the histories and cultures of a number of African countries…