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| Caribbean Explores Fiscal Cooperation |
by Amanda Banks, Tax-News.com, London
Tuesday, March 09, 2010
Ahead of the World Bank meeting, to be held on March 11-12, where CARICOM Finance
Ministers will meet to discuss challenges that the region faces, CARICOM Secretary
General, Edwin Carrington said it was vital for Caribbean economies to increase economic cooperation and remove fiscal barriers, for the prosperity of the region going forward.
Addressing the Fourteenth Meeting of the Council for Financing and Planning,
in Port of Spain, Trinidad and Tobago, Carrington said that the forthcoming
meeting, to be held in Dominica, between CARICOM government leaders and the
World Bank President Robert Zoellick, would be crucial for identifying “new
and viable approaches to the treatment of some of the major challenges facing
the region,” adding that the Community could only succeed through “determined
united regional action.”
Underlining the message, Karen Nunez-Tesheira, Minister of Finance for Trinidad
and Tobago highlighted the need for swift cooperation towards “the regulation
of the region’s financial sector, fiscal strategies, marketing of the
Caribbean brand and inward investment policies.”
She said that “concrete decisions” were necessary to buttress regional
development, and tangible progress of the CARICOM Single Market and Economy was essential to fortify the regional financial architecture for greater
financial stability and most importantly, to enhance the quality of life for
all Caribbean citizens.
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