CDB President

International trade critical to Caribbean's growth strategy - Seite 2

The President added that the benefits of integration needed to be more evenly distributed.

In closing, Smith reiterated that an intensified focus on international trade must be a central tenet of the Caribbean's growth strategy.

"I am convinced that regional integration can be the Caribbean's 'secret' weapon for unlocking economic growth and enhancing the prospect of greater prosperity for our people," he said.

Against that backdrop he urged regional leaders to implement, "in full and without further delay, all of the outstanding provisions of the CSME."

"In short, our Region is calling on its leaders to have a laser focus on "doing what is right, not what is easy," Smith said.

Attendees at the Opening Ceremony included the Bank's Board of Governors; Board of Directors; Ministers and Government officials; private sector representatives; members of civil society and academia; and media. The Annual Meeting highlights the impact of the Bank's investments in its 19 borrowing member countries. During the two-day event, stakeholders are also taking part in strategic discussions on resolving some of the Caribbean Region's most pressing economic and social development issues.

Photo (download): CDB President, Dr. William Warren Smith, delivers his statement during the Opening Ceremony of the 47^th Annual Meeting of the Bank's Board of Governors in Providenciales, Turks and Caicos Islands on May 24, 2017.

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About the Caribbean Development Bank

The Caribbean Development Bank is a regional financial institution established in 1970 for the purpose of contributing to the harmonious economic growth and development of its Borrowing Member Countries (BMCs). In addition to the 19 BMCs, CDB's membership includes four regional non-borrowing members – Brazil, Colombia, Mexico and Venezuela and five non-regional, non-borrowing members; i.e., Canada, China, Germany, Italy, and the United Kingdom. CDB's total assets as at December 31, 2015 are USD2.7 billion (bn). These include USD1.4bn of Ordinary Capital Resources and USD1.3bn of Special Funds. The Bank is rated Aa1 Stable with Moody's, AA+ Stable with Fitch Ratings and AA+ with Standard and Poor's. Read more at caribank.org.