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Contact:
Marsha Drakes, Tel: (246) 430-1678                                  marsha.drakes@crnm.org

For Immediate Release:                                                                                  No. 02/2008
March 19, 2008

OAS strengthens the ability of Regional negotiators to analyze international trade flows  

The Organization of American States (OAS), a long standing donor contributor and supporter of Caribbean development has partnered with the CRNM to develop a regional trade statistics database.  The funding commitments from the OAS has enabled the CRNM to begin to identify the short and long-term needs for trade information and develop a database for Caribbean trade statistics that can be updated on an ongoing basis by the Member States.

This OAS-CRNM partnership bears significant strategic development importance.  Trade is becoming an ever-more essential part of the Caribbean economy as countries participate in an increasing number of trade negotiations and confront an international trade agenda of growing complexity.  The effective participation of the Caribbean region in external negotiations is contingent upon the availability of accurate, timely and meaningful trade data.

Having access to sound trade data is vital for policymakers negotiating and implementing trade agreements as well as for the entrepreneurs striving to take advantage of the opportunities created by expanding international trade. At this juncture, there is a Regional deficiency in the availability of an established, modern and reliable trade statistics and information database.  This custom-made analytical tool will enhance the efficacy with which the Region negotiates international trade agreements whilst being complementary to existing regional and national data repositories.

It is expected that the development of a statistical analytical data system will enhance the CRNM’s capacity to service its Member States and assist in creating a framework for greater information sharing, more efficient information flows, an improved quality of the information available for analysis, and for the formulation of negotiating positions.

Partnership between the OAS and the CRNM in this venture was formally commemorated on Wednesday 19 March 2008, when the OAS Barbados Representative Wendell Goodin presented CRNM’s Director of Technical Cooperation, Partnerships and Information Trevor Boothe with the database server at the OAS office located in Bridgetown.

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