The Guyana-based Caribbean Community (CARICOM) Secretariat says CARICOM’s development of a Single Market and Economy (SME) has been given a boost with the launch of four new on-line platforms aimed at promoting trade and improving ease of doing business.
Support from European Union
The Secretariat said with support from the European Union, it has launched the CARICOM Online Companies Registries; Labor Market Information System; Community Public Procurement Notice Board; and the CARREX Platform and On-Line Public Portal.
Online Companies Registries
It said the CARICOM Online Companies Registries provide a region-wide electronic platform for online name searches and name reservation, business and company registration, public access to records, e-payment and e-signature, among other features.
It will also facilitate a better overview of the prevailing business climate in the region, helping for example, to identify areas of saturation, those with growth potential, and even the role of the informal economy.
Dr. Stephen Boyce of the European Union said at least one recent high-profile example illustrates the critical importance of this platform.
“A few years ago, the inflight magazine on LIAT was rebranded as LIME. This was just a few weeks before a telecommunications giant in the region acquired a similar moniker. The result was a further rebranding to Zing to avoid any conclusion. A regional register would have avoided this,” he noted.
The Secretariat said the development of this platform required automating more than half of the national company registries in CARICOM which were still paper based, upgrading those already automated, and providing a functioning web software/application information system.
Labor Market Information System
It said with the Labor Market Information System there is now a central depository for data on the labor markets in participating CARICOM Member States.
“This allows for better matching of skills with available positions at the regional level, and will thus facilitate movement of skills in the region and better management of labor migration within the Single Market and Economy (CSME).”
Additionally, the system can guide the education system, helping it to meet market demands through academic, technical and professional development programs designed to build and repurpose those already in the workforce and those about to enter.
Community Public Procurement Notice Board
The Community Public Procurement Notice Board should help both the private and public sectors by facilitating the exchange of information on procurement opportunities and contract awards.
Governments in particular can, through improved coordination of their public procurement exercises, maximize the potential economies of scale. Suppliers, including small and medium enterprises, can access opportunities both in their national space and engage in joint-bidding with other regional suppliers for opportunities across the region.
The platform can also facilitate the capture of statistics on specs, pricing and other areas which can be used for future tenders and budgeting.
Rapid Alert System for Dangerous Consumer Goods
The CARICOM Rapid Alert System for Dangerous (non-food) Consumer Goods (CARREX) Platform and On-Line Public Portal should help business-customer relations by serving as a source of public information on dangerous non-food consumer goods that pose serious risks to the health and safety of consumers.
Click link to see other recent CARICOM initiatives: https://www.caribbeannationalweekly.com/caribbean-breaking-news-featured/caricom-seeks-aid-hurricane-battered-countries/
 Secretariat should boost development of the long planned Single Market and Economy (SME).){kind=link}