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Canada Announces Increased Investment in Caribbean During Meeting With CARICOM

Canadian Minister of Foreign Affairs Marc Garneau announced $81.41 million towards the Caribbean Development Bank’s Special Development Fund and $9 million towards the World Food Programme.

February 23, 2021
Canada Announces Increased Investment in Caribbean During Meeting With CARICOM
									    
IMAGE SOURCE: CTV NEWS
Canadian Minister of Foreign Affairs Marc Garneau

On Friday, Canadian Minister of Foreign Affairs Marc Garneau chaired the first Canada-Caribbean Community (CARICOM) Foreign Ministers’ Group meeting with his counterpart from Belize, Eamon Courtenay. Courtenay will soon assume chairmanship of CARICOM’s Council for Foreign and Community Relations and used this opportunity to discuss the expansion of trade ties between Caribbean nations and Canada as well as coordinating responses to the ongoing COVID-19 pandemic and climate change.

During the meeting, Garneau reiterated Canada’s commitment to the COVAX facility, which was cemented last Friday when Prime Minister (PM) Justin Trudeau announced a further $75 million towards the vaccine distribution initiative which seeks to aid developing countries with vaccine procurement. This brought Canada’s total pledge to the COVAX imitative to $220 million.

The Canadian minister also announced $81.41 million towards the Caribbean Development Bank’s Special Development Fund and $9 million towards the World Food Programme (WFP).

Following the meeting, Garneau released a statement saying: “Canada’s deep partnership with our Caribbean friends is critical as we seek to build back better, stronger and greener from the COVID-19 global pandemic and the economic hardships it caused. Today, we discussed our shared priorities and our commitment to build a better future together, based on long-standing friendships, shared values and dynamic trade relations with inclusive economic growth and climate resilience.”

CARICOM is made up of 15 member states and five associate members that together account for a cumulative population of 20 million people. Canada’s government collaborates with CARICOM countries in trade, security and defence, education, and governance. In addition, Canada’s companies are deeply invested in the region’s financial services, natural resources, clean technology, tourism, energy, and education industries. In fact, merchandise trade between Canada and CARICOM states was calculated to be $1.9 billion in 2019, while services trade stood at $4.4 billion.

Furthermore, on an interpersonal level, more than two million Canadians travel to the region on a yearly basis, and more than one million people of Caribbean descent live in Canada as permanent residents and citizens.

Prior to the meeting, St. Kitts and Nevis Minister of Foreign Affairs Mark Brantley said, “Canada has been a good friend to the region over all these years and today we are convening.” He said, “The idea will be to discuss matters in this COVID environment as to recovery, air travel, and various issues such as our vulnerability index, and availability of vaccines,” adding, “I am the lead spokesperson for CARICOM on one of the categories which looks to the impact of COVID-19 and we are hopeful that through this dialogue we can strengthen relations with Canada and ensure that moving forward CARICOM and Canada continue to be steadfast friends.”

Aside from trade ties and public health collaboration, Canada and the CARICOM have also increasingly begun to align their political goals. Late last month, Canada joined CARICOM in demanding that the Venezuelan government release 12 Guyanese fishermen and vessels that had been detained in the country for more than a week.