Government TPR |
WT/TPR/G/299/REV.1 |
G-I§1 |
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2014 |
Trade Policy Framework |
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(…) These realities have been further compounded by natural disasters and other adverse weather conditions experienced during the period under review. (…)
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Government TPR |
WT/TPR/G/299/REV.1 |
G-II§2 |
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2014 |
Trade Policy Framework |
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External vulnerabilities and a weak global environment, particularly from weaker tourism demand combined with domestic supply shocks contributed in part to the sluggish performance. Natural disasters, as in the case of Hurricane Tomas in 2010 and a major outbreak of a banana leaf disease posed serious challenges towards greater output growth. (…)
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Government TPR |
WT/TPR/G/299/REV.1 |
G-VII§1 |
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2014 |
Trade Policy Framework |
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(…) The challenges of climate change, external shocks, high debt to GDP ratios, inflationary pressures and volatile food prices are real and have all contributed to an extended period of economic pressure. Consequently, it is Saint Lucia's view that the multilateral trading system must focus on a more equitable framework for trade and greater sensitivity for the circumstances of SVEs.
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Government TPR |
WT/TPR/G/299/REV.1 |
G-I§4 |
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2014 |
Trade Policy Framework |
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SVG (Saint Vincent and the Grenadines) is a small open economy susceptible to external economic shocks and natural disasters and dependence on international trade. The susceptibility of SVG to a variety of natural disasters, principally hurricanes and flooding is well known. The limited availability of social safety nets for rapid responses to economic adjustments has contributed to economic and social dislocations, particularly within rural communities. Due to both external and internal challenges, the GoSVG has to continuously, redefined developmental policies. The downturn of the economy was partly due to a declining productive sector, rising import bill and a trade deficit ratio of 8:1. This situation was further exacerbated as a result of the exigencies of international trade, the reduction of trade preferences in the agricultural sector and the impact of natural disasters. This has led to high public sector debt, fiscal imbalances and persistent unemployment and poverty.
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Government TPR |
WT/TPR/G/299/REV.1 |
G-II§20 |
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2014 |
Trade Policy Framework |
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(…) Growth in the agriculture sector is forecasted to be fuelled mainly by the on-going replanting drive following plant diseases and natural disasters and activities under the Banana Accompanying Measures (BAM). (…)
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Government TPR |
WT/TPR/G/299/REV.1 |
G-I§5 |
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2014 |
Trade Policy Framework |
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The overall development agenda of St. Vincent and the Grenadines as defined in the National Economic and Social Development Plan (NESDP) 2013-2025, has been built around five (5) strategic goals: (i) Re-engineering economic growth; (ii) Enabling increased human and social development; (iii) Promoting good governance and increasing the effectiveness of public administration; (iv) Improving physical infrastructure, preserving the environment and building resilience to climate change; and (v) Building national pride, identity and culture.
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Environment
Climate
Conservation
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Government TPR |
WT/TPR/G/299/REV.1 |
G-I§6 |
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2014 |
Trade Policy Framework |
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During the medium term (2013-15) Government's over-arching focus will be to stabilize the economy while at the same time address issues of poverty reduction and promote social participation. Government will seek to achieve these goals through the following: Maintaining strong macroeconomic fundamentals; Promoting entrepreneurship and conservation of the natural environment; Improving the general health of the population; Creating an adaptable, functional and literate population; Maximizing the benefits afforded through integration into the OECS Economic union, CSME and the Global Economy; Enhancing effectiveness and efficiency in the provision of public goods and services; Creating an energy sector that ensures sustainable supply and efficient use of energy; Developing the telecommunications sector; Enhancing the road network; and Reducing the adverse impact of climate change and other natural disasters. These measures are deemed as critical elements in facilitating Government's vision of not only a modern competitive post-colonial economy but more importantly, improving the quality of living for all Vincentians.
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Conservation
Environment
Energy
Sustainable
Climate
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Government TPR |
WT/TPR/G/299/REV.1 |
G-II§8 |
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2014 |
Sectors |
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Agriculture |
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The Government, in collaboration with the European Union (EU) and other stakeholders, has designed a programme to ensure the modernization and development of the agriculture sector. This programme, titled the Banana Accompanying Measures (BAM), is expected to run for five years, up to 18 March 2018. The implementation of the BAM is expected to result in improved agricultural infrastructure; improved access to credit facilities; good environmental management systems and land use practices; development of agribusinesses; improved feeder roads; increased institutional capacity; and the strengthening of Public-Private Partnership in the value chain.
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Government TPR |
WT/TPR/G/299/REV.1 |
G-III§9 |
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2014 |
Measures |
Technical regulation or specifications |
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(…) The SVGBS (St. Vincent and the Grenadines Bureau of Standards) is entitled to declare and review internationally recognized standards, ensures that imports are of the highest quality and that the health and safety of consumers are not compromised. It also has a duty to adequately protect the environment.
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Government TPR |
WT/TPR/G/299/REV.1 |
G-III§22 |
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2014 |
Trade Policy Framework |
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After 2007, further reforms were made to the above named bodies of the international financial services sector jurisdiction in keeping with international best practices. These new measures included:
(…)
iv) Rebranding the National Investment Promotions Inc (NIPI) in 2009 as Invest SVG (linking host country and investor)to attract Foreign Direct Investments in priority sectors such as the creative sector, agro–processing, light manufacturing, tourism, Information technology and the search renewable energy solutions were major steps forward towards the stimulation of the economy.
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