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Belal Ahmed- The cost of production, especially for sugar and banana is rising. This factor is compensated by the higher preferential marketing prices of sugar and Banana protocols under the Lome Convention and also the subsequent Contonou Partnership Agreement signed in June 2000, which guarantees both the export amount and prices until 2008, after which the Caribbean sugar and banana industries are expected to face the full impact of globalization...
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CARICOM countries have been challenged in this area by the slow pace to diversify into other crops, lack of increase production and continued labour problems in the sector. This clearly identifies another area in which CARICOM countries are unprepared for the impact of globalization.
Another major economic factor would be that of Labor markets, especially as a result of migration and population movements...
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How adequately prepared are we in CARICOM for globalization?
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