25th CARICOM Intersessional…‘Blacklisted’ Guyana will have repercussions across the Region

Mar 13, 2014 News

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… Regional Commission established to study legalizing ‘Marijuana’

Guyana’s failure to pass the Anti Money Laundering and Countering the Financing of Terrorism Bill (AML/CFT), so far, was the subject of intense discussion at the recently concluded 25th Intercessional Meeting of CARICOM Heads of Government where they lamented grave consequences for the Region as a whole.

Accompanying its Communiqué yesterday was a special statement on Guyana, which said that the Conference of Heads of Government of CARICOM regards with profound dismay, Guyana’s inability to enact the requisite legislation aimed at implementing the recommendations of the Caribbean Financial Action Task Force (CFATF) to address deficiencies in its anti-money laundering regime.
“We recognise that Guyana’s failure to enact this Bill will result in Guyana being blacklisted by CFATF and consequently have far-reaching implications and, indeed, repercussions on the economy of Guyana as well as that of every territory of the Region.”
According to the Heads, blacklisting will affect the cost of processing international transactions and will adversely affect trade and financial flows in the Region.
“The non-passage of the Bill will also retard the regional integration enterprise, limit the opportunity for growth in Guyana and the Region and result in hardship for the people of Guyana, and indeed, of the Region…We call on all relevant parties to enact the necessary legislation in the national and regional interest.”
Guyana/Venezuela relations
Guyana’s recent tangle with Venezuela over its maritime border was also subject to discussions by the Heads.
During those discussions the Heads of Government noted that Guyana and Venezuela have since initiated dialogue following the detention on October 10, last year by a Venezuelan armed naval vessel of the seismic vessel, the RV Teknik Perdana which was under contract with Anadarko and which was conducting a multi-beam survey of the seafloor in Guyana’s exclusive economic zone.
Envoys from both Guyana and Venezuela subsequently met in Port-of-Spain, Trinidad and Tobago, and agreed that the two countries would explore mechanisms within the context of international law to address the issue of maritime delimitation.
That meeting had committed the envoys to meet within a period of four months to exchange views on how such delimitation could proceed.
The Heads further took note that the Venezuelan Government had requested a postponement of the technical meeting given the political situation in that country.
According to the Communiqué, “Heads of Government expressed the hope that the initiative to address the issue of maritime delimitation would not lose momentum.”
It was noted too that despite the incident, Guyana and Venezuela continued to maintain stable and satisfactory relations.
“They reiterated their support for the maintenance of the territorial integrity and sovereignty of Guyana and took note of the continued confidence that both States have in the Good Offices Process of the United Nations Secretary-General under the Geneva Agreement of 1966 with the re-appointment in October 2013 of Professor Norman Girvan as the Personal Representative of the Secretary-General in that Process.”

They did also express regrets over Professor Girvan’s illness due to an accident last December in which he sustained serious injuries and conveyed their best wishes for his quick recovery.
Legalizing Marijuana
The meeting also addressed for the first time as a body and engaged in intense discussions, the issue of marijuana, including its medical use and aspects of the decriminalising of small quantities for recreational use.
They also explored the economic benefits that might be derived from marijuana cultivation.
According to the Communiqué, signed on to by Heads, “Concerns were raised, especially regarding the potential public and mental health aspects of its use.”
As such, with the recognition that there needs to be careful in-depth research of the various implications of the measures contemplated, it was mandated, the establishment of a Regional Commission to address the issues identified and any others deemed relevant in order to provide clear guidance with regard to decisions to be taken.
The Commission is expected to report to the Regular Meeting of the Conference in July 2014.
Economic Report
Heads also used the opportunity during the two day intersessional meeting, to endorse the recommendations of the CARICOM Commission on the Economy established last September to advise on a sustainable growth strategy for the Community.
“The recommendations are aimed at restoring confidence in the economic management and governance of CARICOM economies and laying the foundation for an innovative resource mobilisation strategy to support the Growth Agenda.”
The Commission will continue to work as it advances the implementation of the recommendations including preparation of an implementation timetable to be presented at the July 2014 meeting.
The Heads of Government also agreed to have a high-level consultation with Leaders of Commerce and Industry at their July Meeting.
“This consultation would address the institutional reform agenda and the scope for promoting public-private partnerships to support the infrastructural development required to promote a vibrant and dynamic private sector and sustainable growth in the Community.”
The Heads also agreed to consider the establishment of a regional mechanism to advise Member States on their debt management strategies and endorsed the Commonwealth Small States Debt initiative which is led by the Prime Minister of St. Kitts and Nevis, Dr Denzil Douglas.

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