Concluding remarks by the Chairperson

The third trade policy review of the OECS-WTO Members has provided an excellent opportunity to improve our understanding of their trade and investment policies.

I would like to thank the Honorable Mr. Alva Baptiste, Minister for External Affairs, International Trade and Civil Aviation of St. Lucia; H.E. Dr. Patrick Antoine, Ambassador and Permanent Representative of Grenada to the World Trade Organization, and the whole OECS delegation for their open, frank, and constructive engagement throughout this exercise.

I would also like to thank H.E. Dr. John Otachi Kakonge, Ambassador of Kenya to the WTO for his insightful remarks as discussant. OECS-WTO Members' written answers to most of the over 160 advance written questions have been well appreciated by Members and we look forward to answers to additional questions, no later than one month after this meeting.

Members were cognizant of the fact that the OECS-WTO Members have a narrow economic base, are highly reliant on imports and are frequently affected by natural disasters, especially hurricanes. All these factors make their economies particularly vulnerable to exogenous shocks. Members commended the OECS-WTO Members on their prudent macroeconomic policies in the aftermath of the global financial crisis, including their fiscal consolidation and debt restructuring programmes, the streamlining of their taxation systems, and the introduction of Value Added Tax. These measures have resulted in a tentative recovery, and in the decline of fiscal deficits and the stock of public debt.

Members praised the OECS-WTO Members' strong support for the multilateral trading system and the role they have in the DDA negotiations. Their participation in the Trade Facilitation Negotiations was particularly appreciated. Members also praised the OECS-WTO Members open investment regime. However, certain Members stated that more was needed in terms of ease of doing business to attract foreign investment.

Members welcomed the signing of the revised Treaty of Basseterre and the subsequent establishment of the OECS Economic Union, which allows for the free movement of people, goods and capital across the OECS region. This would serve as a model of economic and financial integration, which could result in sustained economic growth. However, concerns were expressed with respect to the implementation of the treaty as legislation to this effect is yet to be put in place.

Certain Members also noted that full implementation of the CARIFORUM-EU Economic Partnership Agreement would require legislation changes that could facilitate the implementation by OECS-WTO Members of WTO commitments in areas where they are lagging.

The OECS-WTO Members were commended for the openness of their economies and for having continued to pursue trade liberalization despite the challenges posed by the global economic crisis and the effects of natural disasters. However, Members noted that most of them still applied customs service charges and other taxes on imports. Another area of concern was the continued use of import licences as these can be trade restrictive. OECS-WTO Members were also encouraged to harmonize their tariff schedules.

Members were appreciative of the fact that the OECS-WTO Members had started dismantling their export subsidy schemes and expressed their hope that these would be abolished by end 2015, as required by WTO rules. Some Members noted that although progress had been made, not all the issues identified during the previous Review had been successfully addressed, including the adoption of legislation regarding competition policy and contingency measures, and compliance with notification requirements, particularly those pertaining to SPS.

The participation of a sizeable number of delegations in this meeting and the large number of questions posed during this Trade Policy Review indicate the clear importance of the OECS-WTO Members as a trading partner. I hope, therefore, that this review will help the OECS-WTO Members to reinforce their participation in the multilateral trading system. In this respect, I would wish to emphasize that it is important for the OECS-WTO Members to continue to implement the legislative changes required to best harness the opportunities presented by the multilateral trading system and by the integration processes in which they participate.

Given the constraints faced by the OECS-WTO Members, the collaboration and technical assistance of other WTO Members in this matter would be most helpful.

In closing, I would like to thank the delegation of the OECS-WTO Members, all the other delegations, the discussant and the Secretariat for this very successful third review of the trade policies of the OECS-WTO Members. We also thank the interpreters. We wish the OECS delegations a safe trip home.