stluciatimes, caribbean, caribbeannews, stlucia, saintlucia, stlucianews, saintlucianews, stluciatimesnews, saintluciatimes, stlucianewsonline, saintlucianewsonline, st lucia news online, stlucia news online, loop news, loopnewsbarbados


loop news st lucia, the loop st lucia, loop st lucia, st lucia loop news online, st lucia news online today, st lucia, st lucia news, stlucia news, st lucia news online, stlucianewsonline, st. lucia news online, st lucia breaking news, stlucianews

CDB, WTO Deepen Partnership With New Agreement

Join Our WhatsApp Channel

Get news updates directly on your mobile device through WhatsApp

- Advertisement -

 Following a declaration to global players that we reassess and revolutionize existing trading arrangements to increase opportunities for Small Island Developing States (SIDS), the President of the Caribbean Development Bank (CDB), Dr Hyginus “Gene” Leon signed a new agreement with World Trade Organization (WTO).

The Memorandum of Understanding (MOU) will strengthen ties between the WTO and CDB and aims to improve capacity, accessibility and availability of trade resources to members of both organisations.

 Dr Leon speaking at the signing on October 25, in Geneva highlighted the prospects for the Bank’s 19 Borrowing Member Countries. “this agreement opens doors and expands opportunities for the Caribbean to increase trade, build prosperity and safeguard economic resilience. The latter is significant given the existing high reliance on exports and our acute vulnerabilities.”

WTO Director-General Ngozi Okonjo-Iweala who signed the MOU said “The MOU aims to deliver specific things for the benefit of countries in the region, virtually all of whom are members of the WTO. So, for instance, as part of a food security package how can we work together to make sure that the Fisheries Subsidies Agreement is implemented. How do we collaborate on capacity building on fisheries management, how do we get countries to deposit their instruments of acceptance [for the Fisheries Subsidies Agreement] as quickly as possible and how do we work together on gender and trade, including collaboration with ITC.”

- Advertisement -

The agreement will increase cooperation and collaboration in trade facilitation and the implementation of the WTO’s Trade Facilitation Agreement (TFA) and its Agreement on Fisheries Subsidies.

It also seeks to accelerate ongoing and future initiatives to reduce Technical Barriers to Trade (TBT), address Sanitary and Phytosanitary issues and create mechanisms for the agencies to partner to improve capacity building, technology, data and knowledge transfer in tourism, education, culture and entertainment, and professional health and wellness while leveraging technology, public policy support, and innovation.

SOURCE: Caribbean Development Bank

- Advertisement -
Editorial Staff
Our Editorial Staff at St. Lucia Times is a team publishing news and other articles to over 200,000 regular monthly readers in Saint Lucia and in over 150 other countries worldwide.

Please note that comments are being moderated. When commenting, please remember: 1) be respectful of all, 2) don't make accusations or post anything that is unverified, 3) don't include foul language, 4) limit links, 5) use words not volume, 6) don't add promotional content. Comments that do not meet the above criteria or adhere to our "Commenting Policy" will not be published.


  1. Former Prime Minister Compton said cannot be incharge of our own destiny while under the control of organizations like the WTO. The devil is in the details.


Please enter your comment!
Please enter your name here


Subscribe to our St. Lucia Times Newsletter

Get our headlines emailed to you every day.

Share via
%d bloggers like this:
Send this to a friend