News

A New Caribbean Integration Paradigm?

By: Caribbean Journal Staff - September 13, 2013

Above: Foreign Minister Winston Dookeran

By the Caribbean Journal tsaff

The Caribbean’s integration movement needs to adapt to the effects of the global financial crisis.

That’s the thesis put forward by Trinidad and Tobago Foreign Minister Winston Dookeran, who says integration needs to be based on a new development paradigm “that is better able to tackle such challenges.”

Dookeran offered his views in a lecture at the UN Economic Commission for Latin America and the Caribbean in Santiago, Chile last week.

“The external shocks that international financial institutions consider to be temporary have become permanent for small Caribbean economies,” he said. “The recent world crisis in 2008 and 2009 only cost the United States 1 percent of its GDP. In the Caribbean, estimates for the collapse suggest that it affected between 10 percent and 18 percent of GDP (depending on the country).”

Dookeran says there is a structural problem related to development, creating the need for a “new economic space” based on public-private partnerships aimed at “increasing production efficiency.”

That needs to be marked by four pillars, he said: inclusive and equitable development; transformative and endogenous growth; innovative and entrepreneurial competitiveness; and adaptive and realigned institutions.

“All of these areas are related to development and refer to the paradigm that we must change”, Dookeran said. “As with any integration process, there will be winners and losers. Some winners will not have been born yet. We need to take a leap of faith towards the future and change our development.”

Popular Posts the sexiest beaches including this resort at atlantis

The Sexiest Beaches in the Caribbean to Visit Right Now 

One is a beach with a nightclub-style pool right next door. Another is filled with beach bars — and even has its own au natural corner. Then there’s a beach that’s practically a nonstop party.  There are so many things that […]


The Best Caribbean Islands to Visit This Summer, From Antigua to St Croix

verandah antigua

We’ve been saying it for years, and we’ll keep saying it: in some ways, the Caribbean is even better in the summer months. The water is warm. It’s a bit less crowded, a little bit quieter. At night, the trade […]


The Winners of the 2024 Caribbean Green Awards 

caribbean green

With almost 20,000 votes, the winners of the Caribbean Green Awards 2024 Presented by E-Finity have been crowned.  From state-of-the-art marine conservation projects to hotels that are redefining sustainability, the Green movement has never been stronger in the Caribbean.  “This […]


Related Posts bahamas small hotels

Caribbean Hotels Keep Filling Up as Travel Demand Strengthens 

It was a very strong March for the Caribbean hotel industry, according to the newest data from hotel analytics firm STR.  Hotel occupancy was 76.4 percent last month, a sizable 7.3 percent jump over March 2023 — a very strong […]


American Airlines Is Adding More Daily Nonstop Flights to Dominica

dominica fort young

Fresh off the news that American Airlines would be running daily flights to Dominica for much of the summer, the world’s largest airline has plans to extend that service.  American Airlines already announced that it would be operating daily nonstop […]


Dominican Republic Cruise Tourism Keeps Growing 

celebrity cruises ship docked at port

It’s no secret that the Dominican Republic is the most popular destination in the Caribbean, as measured by air visitors.  But the country’s cruise industry has quietly been seeing rapid growth, too.  Indeed, the Dominican Republic welcomed just under 867,000 […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You