Caribbean Development Bank (CDB) member countries will benefit from a project that facilitates a greater evidence-based trade policy.
The CDB and World Trade Organization (WTO) Statistics Training Programme has received a USD165,000 allocation to build the region’s capacity for modernising the production, compilation, dissemination, and use of data in national statistics, customs offices, and trade ministries.
The training programme will commence early this year.
CDB’s Director of Economics, Ian Durant, said, “The Bank is pleased to support, this initiative which will assist in deepening Caribbean trade and integration and further support development outcomes.”
A CDB release explained that increased capacity, technical expertise, and enhanced cross-agency partnerships in collecting, compiling, and disseminating trade and tariff data will improve the design of related strategies and policies and advance achieving the Sustainable Development Goals (SDGs).
In 2022, the CDB and the WTO signed a Memorandum of Understanding to support countries on various international trade matters.
The matters included capacity building in trade and statistics and collaborating on knowledge products in tourism, education, culture and entertainment, public policy support, and innovation.
The CDB and the WTO also pledged to explore intersections of trade policy, climate change and women’s participation in international trade focused on achieving gender equality.
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