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Caricom seeks Portugal’s advocacy on major concerns
As the Caribbean Community (CARICOM) continues to lobby for the removal of Member States from the list of non-cooperative tax jurisdictions, Secretary-General Irwin LaRocque yesterday raised the issue with
From Left: Ambassador Fernando Teles Fazendeiro and Secretary General Irwin LaRocque
newly accredited Ambassador of Portugal to CARICOM, Fernando Teles Fazendeiro.
Portugal is among several European countries that have deemed some CARICOM Member States as non-cooperative tax jurisdictions, even as the Member States insist they are in compliance with standards established by the Financial Action Task Force (FAFT), the Global Forum and other international bodies.
Ambassador LaRocque told the Portuguese envoy that the Community is gravely affected by the listing, as financial services are of vital economic importance to the Caribbean Community, with implications for its efforts at growth.
Portugal is among several European countries that have deemed some CARICOM Member States as non-cooperative tax jurisdictions, even as the Member States insist they are in compliance with standards established by the Financial Action Task Force (FAFT), the Global Forum and other international bodies.
Ambassador LaRocque told the Portuguese envoy that the Community is gravely affected by the listing, as financial services are of vital economic importance to the Caribbean Community, with implications for its efforts at growth.
“It would certainly be a step in the right direction if this unjust and unfair action be rescinded,” the Secretary General said.
He said CARICOM would also welcome Portugal’s advocacy on the swift implementation of the 2030 Development Agenda, ensuring sensitivity towards small states, and the provision of financing for development.
Secretary-General LaRocque said, too, that CARICOM would welcome support for global efforts to implement the most ambitious possible climate change targets, particularly pursuing efforts to limit the temperature increase to 1.5 degrees above pre-industrial levels. He also called for support for CARICOM’s effort to stem the trend toward graduation of Small Island Developing States (SIDS) from access to concessionary financing.
For his part, the new Portuguese envoy said that the goal of CARICOM goal for full cooperation among Member States, like the European Union, is very important. He said that Portugal has always supported the CARIFORUM-EU Economic Partnership Agreements, and this remains for his country, the main framework for developing and strengthening ties with the Region.
It is within this spirit, he said, that he will endeavour to promote the building of a more permanent relationship with CARICOM.
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