Media Center

Press Release


OAS SIGNS AGREEMENT WITH BUSINESS DEVELOPMENT CORPORATION TO LOOK AT SUSTAINABLE TRADE IN TRINIDAD AND TOBAGO

  November 29, 2004

The Organization of American States (OAS) has signed an agreement with the Business Development Company Limited of the government of Trinidad and Tobago (BDC), to develop a national environmental assessment of free trade. The agreement was signed last Friday at the BDC Head Office in Port of Spain, by the OAS Director in Trinidad, Joseph Clement Campbell, and by the President of the BDC, Earle Baccus.

The assessment will be developed in partnership by the OAS Office for Sustainable Development and Environment (OSDE) and the BDC. Together, OSDE and BDC will focus on the extent to which domestic markets are likely to change, determining which sectors may grow as trade barriers fall and looking as well at environmental consequences that can be anticipated from these economically driven effects. The assessment will also examine how legal and institutional frameworks, both domestic and regional, can address these changes.

The information resulting from this initiative is expected to be useful in terms of private sector development and sustainable approaches to competitiveness. The new partnership is intended to provide the government of Trinidad and Tobago with capacity building and a more realistic set of policy options that make trade expansion more sustainable.

This initiative, developed in response to mandates from the Summit of the Americas process, is part of a broader program executed by the OAS Office for Sustainable Development and Environment with the support of the United States Agency for International Development (USAID).

The OAS has been working through this program with member states in Central America, the Andean Region and the Southern Cone. This agreement is the first step towards expansion of the program to the Caribbean..

Reference: E-218/04