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Aid-for-trade initiative provides support to Caribbean economies

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Wednesday, 25 April 2018

Aid-for-trade initiative provides support to Caribbean economies

Caribbean development partners and beneficiaries of the Hub and Spokes Programme, an aid-for-trade initiative, began a regional planning workshop April 23–25 with appreciation of the programmes tangible impact on the ground. The workshop is being held at the Guyana Marriott Hotel Georgetown, Guyana. Caribbean country beneficiaries and advisers will work to develop a new framework that is likely to govern the implementation and management of a successor programme. The proposed framework will aim to support sustainable and inclusive development through technical assistance and capacity-building in international trade. The Hub and Spokes programme is a multi-donor aid-for-trade initiative of the European Union, the African, Caribbean and Pacific states (ACP) Group Secretariat, the Commonwealth Secretariat and the Organisation Internationale de la Francophonie (OIF). Its current implementation phase in the regions ends in August 2018. With the current programme coming to an end, the regional planning meeting proposed that a successor programme should build upon current best practice and incorporate new and emerging trade-related issues into a future work programme. The framework should also be localised into the Caribbean context, to capture and contribute to regional priorities relating to trade and development. The Caribbean Community (CARICOM) has taken full advantage of the programme from its inception in 2004, benefitting in areas such as multilateral trade issues, the full implementation of bilateral trade agreements and the implementation of the CARIFORUM Economic Partnership Agreement (EPA). Capacity-building and technical assistance to member states of CARICOM, as well as resource mobilisation, have also been undertaken.

Source: The St. Kitts & Nevis Observer