Grenada – The Government of Grenada in partnership with the World Trade Organization (WTO) organized a Regional Trade Negotiation Workshop which was focused on how to deal with trade challenges in the Caribbean.
It was attended by officials and business persons from Grenada, St. Lucia, St. Kitts and Nevis, and St. Vincent.
During the workshop information related to various trade challenges and how to deal with these were shared with the participants.
It is to be mentioned that small island developing states (SIDS) are presently facing issues of high trade cost and frequent change in global prices. This is having an adverse effect on the local businesses.
The workshop was conducted by Ms. Franziska Kirschke, from WTO Institute for Training and Technical Cooperation.
During the workshop the participants learnt about various techniques to negotiate trade. They were informed about understanding various policies. The participants also learnt how to increase their market presence and reach out to new markets across the globe.
The workshop also focused on protecting the national interest while trading internationally.
Grenada’s Minister for Foreign Affairs, Trade, and Export Development, Hon. Joseph Andall, said that the people must gain in depth knowledge of trade negotiation.
“Trade is important for growth, development, and prosperity,” Minister Andall said, adding, “This workshop will help the government officials and local businessmen to gain more knowledge about international trade.”
He said that the workshop will also help the Caribbean Nations in collaborating with each other.
Those who participated in the workshop hailed the government for organising this workshop calling it or timely a step. Besides, the workshop also helped the participants interact amongst each other at the regional level.
It is to be mentioned that SIDS are presently facing trade issues such as less number of products to trade and frequent changes in the prices in the global market. To deal with his challenges the participants were informed about how to deal with frequent changes in prices at the global level, how to negotiate trade agreements and how to build collaborations at the regional level.
During the workshop, Ms. Kirschke said that the WTO was working to include all member nations in good trade practices. He said that the information shared in the workshop can benefit the Nations in improving their trade capacity.
During the conclusion of the workshop the Government of Grenada expressed gratitude to the WTO. The government said that the workshop will have long term benefits for the trade. This will help in economic growth of the region.
