Saint Kitts and Nevis Participates in the European-Community of Latin American and Caribbean States (EU-CELAC) Business Forum
Brussels, 17th July 2023 – On Monday 17th July 2023, the Right Honourable Dr Denzil Douglas, Senior Minister and Minister for Foreign Affairs, International Trade, Industry, Commerce, Economic Development, and Investment participated in two Global Gateway round tables prior to the start of the 3rd EU-CELAC Summit being held in Brussels from 17-18 July 2023.
While round table one, Energy Transition: Sustainable Solutions for All, featured solutions to overcoming the regulatory, political, economic and social challenges that will lead to net zero carbon by 2050, the third round table, Bridging the Gap: Unlocking Investment Potential in the Caribbean, highlighted factors that render the Caribbean ripe for investment, how multilateral banks can create funding mechanisms and along with private sector investment facilitate green energy transition in the Caribbean.
The round tables, organized by the EU in collaboration with the Inter-American Development Bank (IDB) and the Latin American Bank (CAF) were convened under the Business Forum on the EU’s Global Gateway Investment Agenda (GGIA), a cooperation strategy to accelerate a fair green and digital transition and tackle inequalities in Latin America and the Caribbean. Dr Hyginus Leon, President of the Caribbean Development Bank facilitated the second panel and called for a resilient, sustainable and competitive transition.
It is anticipated that the GGIA will be a major deliverable for the 3rd EU-CELAC Summit for mobilizing investments for green and digital transition, transport and energy infrastructure, health, education, skills and research and sustainable finance.
The Foreign Minister was most impressed by the investment successes that have already yielded results in Latin America and the Caribbean and is hopeful that these can be further replicated throughout the Region. “What we need are investors with a strong sense of responsibility and who bring significant social wealth to communities and countries”.
Dr Douglas is in Brussels as part of the Prime Minister, the Honourable Dr Terrance Drew’s delegation to the EU-CELAC Summit, being convened after an eight year hiatus.