Amidst the current volatility of oil prices on the world market, ministers responsible for energy in the Caribbean Community (CARICOM) will gather in Georgetown, Guyana, this week to scrutinise an overview of the energy situation and trends in CARICOM.
The Kaieteur News reported that the ministers will also look at national and regional responses to global developments and will consider, endorse and provide direction to those responses.
Further, they will review a report on a regional energy sector assessment commissioned by the CARICOM Secretariat with the support of the Inter-American Development Bank (IDB) in 2010, That assessment was conducted to help make clear the energy situation in CARICOM and to inform strategic responses.
The 35th Special Meeting of the Council for Trade and Economic (COTED) will also consider the draft CARICOM energy policy, which was developed by a task force comprising representatives from Barbados, Grenada, Guyana, Jamaica, Suriname and Trinidad and Tobago.
The policy is intended to address issues such as security of energy supplies, energy pricing policy and the impact on relative competitiveness in the CARICOM Single Market and Economy, and purchasing and transportation arrangements.
