CSME and MERCOSUR provide opportunities for Caribbean manufacturers, says St Kitts-Nevis PM
Tuesday, January 10, 2006
BASSETERRE, ST. KITTS: St Kitts and Nevis’ Prime Minister, Dr Denzil Douglas says the Caribbean Single Market and Economy (CSME) as well as the soon to be completed trade negotiations between CARICOM and the MERCOSUR countries will be a big boost for Caribbean manufacturers.
Addressing over 70 International Sales Representatives of Kajola-Kristada, a local company which assembles brass and aluminum connectors as well as traps and filters for the Cable TV market, Prime Minister Douglas thanked the six-year old company for the confidence that has been displayed in the people and in the Government of St. Kitts and Nevis as it continues to carve out a niche within the global market.
“A successful bi-lateral trade agreement between CARICOM and MERCOSUR is very likely to bring about substantial benefits for member countries not only of CARICOM but also of MERCOSUR, and of course by extension, and more specifically, the manufacturing companies of the Caribbean region which would benefit enormously,” said Prime Minister Douglas during the two-day meeting at the St. Kitts Marriott Resort..
He told the sales representatives from several countries including Pakistan, China, India, the United States, Brazil, Argentina and Germany that the final negotiations between CARICOM and MERCOSUR will have manufactured products classified as sensitive or special products.
“What all of this really means is that when the agreement is completed and comes into effect there will be a substantial boost for Caribbean manufacturers, including Kajola-Kristada Ltd to benefit through demand for its own products within the wider MERCOSUR market. The spin-offs therefore are obvious.
There would be improved profitability to your company, there would be the expansion of your plant facilities, and for us here in St. Kitts and Nevis, we expect that there would be increased employment opportunities as the company works towards maximising its own opportunities in such a large and expanded market,” said Prime Minister Douglas.
He said that the Caribbean Single Market and Economy (CSME) which St. Kitts and Nevis will enter by the end of February “allows for several significant benefits for member countries that include the free movement of goods, the free movement of services and the free movement of capital, thus further integrating the economies within the Caribbean Community making us more competitive globally to deal with a much more hostile environment.”
“This means the elimination of all barriers to intra-regional movement and harmonisation standards to ensure acceptability of goods and services. What it means is that companies like Kajola-Kristada could have easier and much more direct duty-free access to other member countries of the Caribbean Community who are part of the CSME. By creating this new entity, your company will not only be able to trade in the wider Latin American market through MERCOSUR, but the CSME will allow you to trade your products within the Caribbean region among the member countries of the Caribbean Community and this is going to be done without the hassles and the barriers of duty, etc. etc,” said Prime Minister Douglas, who charged the company directors to explore every opportunity to expand their own market share in a heavily competitive global trade environment.
Dr. Douglas said that the future for Kajola-Kristada, which employs just over 200 persons, “looks extremely promising, and I am sure that each of you would play your part in helping to secure current customers as well as building access to new customers around the world.”
Tuesday, January 10, 2006
BASSETERRE, ST. KITTS: St Kitts and Nevis’ Prime Minister, Dr Denzil Douglas says the Caribbean Single Market and Economy (CSME) as well as the soon to be completed trade negotiations between CARICOM and the MERCOSUR countries will be a big boost for Caribbean manufacturers.
Addressing over 70 International Sales Representatives of Kajola-Kristada, a local company which assembles brass and aluminum connectors as well as traps and filters for the Cable TV market, Prime Minister Douglas thanked the six-year old company for the confidence that has been displayed in the people and in the Government of St. Kitts and Nevis as it continues to carve out a niche within the global market.
“A successful bi-lateral trade agreement between CARICOM and MERCOSUR is very likely to bring about substantial benefits for member countries not only of CARICOM but also of MERCOSUR, and of course by extension, and more specifically, the manufacturing companies of the Caribbean region which would benefit enormously,” said Prime Minister Douglas during the two-day meeting at the St. Kitts Marriott Resort..
He told the sales representatives from several countries including Pakistan, China, India, the United States, Brazil, Argentina and Germany that the final negotiations between CARICOM and MERCOSUR will have manufactured products classified as sensitive or special products.
“What all of this really means is that when the agreement is completed and comes into effect there will be a substantial boost for Caribbean manufacturers, including Kajola-Kristada Ltd to benefit through demand for its own products within the wider MERCOSUR market. The spin-offs therefore are obvious.
There would be improved profitability to your company, there would be the expansion of your plant facilities, and for us here in St. Kitts and Nevis, we expect that there would be increased employment opportunities as the company works towards maximising its own opportunities in such a large and expanded market,” said Prime Minister Douglas.
He said that the Caribbean Single Market and Economy (CSME) which St. Kitts and Nevis will enter by the end of February “allows for several significant benefits for member countries that include the free movement of goods, the free movement of services and the free movement of capital, thus further integrating the economies within the Caribbean Community making us more competitive globally to deal with a much more hostile environment.”
“This means the elimination of all barriers to intra-regional movement and harmonisation standards to ensure acceptability of goods and services. What it means is that companies like Kajola-Kristada could have easier and much more direct duty-free access to other member countries of the Caribbean Community who are part of the CSME. By creating this new entity, your company will not only be able to trade in the wider Latin American market through MERCOSUR, but the CSME will allow you to trade your products within the Caribbean region among the member countries of the Caribbean Community and this is going to be done without the hassles and the barriers of duty, etc. etc,” said Prime Minister Douglas, who charged the company directors to explore every opportunity to expand their own market share in a heavily competitive global trade environment.
Dr. Douglas said that the future for Kajola-Kristada, which employs just over 200 persons, “looks extremely promising, and I am sure that each of you would play your part in helping to secure current customers as well as building access to new customers around the world.”
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