New approaches to the sustainable development of small developing countries will be discussed.
(8 September 2011) In order to explore new approaches and challenges to the sustainable development of small developing countries including the Caribbean and Central America, the Caribbean Development Round Table will be held in Port of Spain on 13 September 2011.
This meeting is organized by the Economic Commission for Latin America and the Caribbean (ECLAC) in collaboration with the Ministry of Finance of Trinidad and Tobago. It will be opened by the Executive Secretary of ECLAC, Alicia Bárcena, and the Prime Minister of Trinidad and Tobago, Kamla Persad-Bissessar.
Alicia Bárcena will make a presentation on “Time for equality: Closing gaps, opening trails”. This was the key issue of ECLAC’s Thirty-third session document, presented in 2010, where the Commission proposed a strategy for economic growth which emphasizes investment, integration and innovation, and highlights the importance of building the State’s capacity to redistribute resources and promote equity.
The Minister of Finance of Trinidad and Tobago, Winston Dookeran, will deliver a presentation on the evolution of economic thought and development.
Representatives attending the meeting will also discuss the challenges of deeper regional integration and the internal drivers of development. It presents an opportunity to build bridges of cooperation between the Caribbean and Latin America, one of the regions which has been able to thrive economically despite the recent global economic crisis.
According to ECLAC economic studies, the small economies of the Caribbean continue to face challenges following the recent global financial and economic crisis, including problems of high public debt and large fiscal and current account deficits. The crisis also exposed many weaknesses in several economies of the region, including the heavy dependence on a few markets, the undiversified nature of major exports and the limited fiscal space which made them more vulnerable to severe shocks.
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