News: Caribbean executives endorse economic initiatives

(PL 20/05/2006) Kingston - Executives from the Caribbean Development Bank put forward mechanisms to prevent a drop of profits and promote the sustainable economic development of the region, during the 36th Annual Meeting of this financial institution.

The two-day meeting, held at Jamaican Montego Bay resort, gave the current situation of finances in the region a priority for discussion.

According to figures, only five Caribbean countries reported a financial increase in 2005, while the rest of the countries in the region did not raise their profits compared to 2004.

However, the president of the CDB, Compton Bourne, warned there are several opportunities despite the structural changes in the commercial relations between the Caribbean and Europe.

An important point to start off is admitting the potential of our regional markets, as well as the sort of joint ventures in the tourism field, added Bourne.

Among the proposed initiatives to boost the economic increase highlight the modernization of the viable companies and the recovery of firms.