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Caribbean Community (CARICOM) Secretary-General Dr. Carla Barnett has hailed the CARICOM Interactive Marketplace and Suspension Procedure (CIMSuPro) launch.
And she has urged suppliers and buyers of CARICOM originating goods to register on the online platform.
Barnett said Monday’s launch of CIMSuPro marks an essential milestone in the evolution of how trade and business can and will be conducted in the Community.
She observed that the online platform creates a digital ‘Marketplace’ where regional buyers and sellers of regionally produced goods can contact and “contract” each other directly.
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“It also introduces the potential for improving the efficiency in processing applications for a suspension of the Common External Tariff (CET),” the CARICOM Secretary-General stated.
According to Barnett, while the CARICOM Secretariat will continue to consult with Member States directly on requests for suspensions, the CIMSuPro portal will provide an essential source of information for reviewing all requests.
She asserted that CIMSuPro could become a processing platform for such requests over time.
In addition, Barnett said for any market, including the CARICOM Single Market and Economy (CSME), to function efficiently, information on trading opportunities must be available.
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“As we push for increased regional production and supply of goods, especially food items to replace our high and nsustainable dependence on imports, putting information on the availability of CARICOM inputs for manufacturers, as well as finished CARICOM products at the fingertips of regional buyers is absolutely important,” the CARICOM official declared.
She recalled that external shocks from the COVID-19 pandemic, the conflict between Russia and Ukraine, and climate change have made building resilience in regional economies even more critical.
And amid global uncertainties, Barnett explained that CARICOM Heads of Government had redoubled their commitment to the CSME as the best option for building economic resilience and safeguarding the welfare, gains, and standard of living of the people of the Region.
“One area that presents great opportunity for increased regional production and import substitution is agri-food products. Over US$3.7 billion in agri-food products was imported into the Region in 2018. To expand regional production and supply to reduce this import bill, producers and buyers must have access to market information in good time and in a user-friendly manner – the CIMSuPRO will provide this,” she noted.
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