“This is especially true in the area of economics and trade among nations,” he pointed out. “Technological changes have been leading the process of globalisation, which has reduced the size of the world, turning it into a global village.”

He noted that the process of internationalisation has been expedited by the increasingly intense opening up of markets. The countries of the Greater Caribbean countries have embraced this complex race to open up on all fronts: multilaterally, regionally, bilaterally and even unilaterally. They are participating in the negotiation processes of the World Trade Organisation (WTO). They are going deeper into regional integration schemes and signing sub-regional and bilateral trade agreements, while they continue to build the Free Trade Area of the Americas.

Girvan believes that these inter-linked trade processes will impose deep changes on the region, which will be felt to the extent that they are formalised. There will be new rules that, if indeed lend higher predictability and stability, will mean a new reality, a new way of doing business. Changes will be felt in the same way in the daily lives of the people of the region.

The ACS secretary general told regional businesspeople that regionally, this will translate into a renewed effort to deepen existing links with ideals of a new open regionalism. Central America hopes to have an effective customs union before the end of this year. The Central Americans have signed agreements with the Dominican Republic, and are currently negotiating a Free Trade Agreement with the United States. CARICOM recently widened with the inclusion of Haiti and has forged close ties with the Dominican Republic and Costa Rica. CARICOM is also fine-tuning its Single Market and Economy (CSME). Bilaterally agreements are continuing to formalize with neighbouring countries. From all sides, economic ties in the Greater Caribbean are growing and becoming stronger.

However, in spite of the increase in formal trade relations, effective exchange is still very limited, the gathering heard. Intra-ACS trade was only 8 percent of the total trade of the Greater Caribbean. Nonetheless, it is important to highlight that trade within the ACS, from the second part of the 1990s to today has dominated trade among the countries of the various sub-groupings. That is to say, countries of CARICOM, Central America and the other sub-groups of the ACS are looking outside of the box and at the Greater Caribbean. The numerous cross-language trade missions in the region are solid evidence of this trend.

The creation of a wider space for trade and investment in the Greater Caribbean could capitalise the advantages of our geographic proximity and the complementarity of our economies to offer the business sector new and greater opportunities for commerce and growth. Larger markets and diversity of preferences imply new business opportunities. A total market of 240 million people and a trade value of US$600 billion is what the ACS countries represent. The business community of the Greater Caribbean needs to take advantage of these new investment opportunities and production schemes that could ultimately result in greater added value for the region.

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