Trinidad: OAS wants G20 to recognise small states

PORT OF SPAIN, Trinidad, CMC - The Organization of American States (OAS) Tuesday called on the G-20 – which brings together leaders, finance ministers and central bank governors of the world’s biggest economies – to recognise smaller economies, like those in the Caribbean.



OAS Assistant Secretary General Ramdin’s comments were made in a statement that followed meetings here with the Trinidadian government.



The finance minister, Winston Dookeran, chairs a forum of small states – most commonly defined has having populations of 1.5 million and less - within the World Bank.



"In this inter-dependent world the voices of small economies must be represented at this level as discussions progress on measures to address economic issues. Small economies need to be represented at the global table," Ramdin said.



Dookeran has echoed Ramdin’s comments in a similar call to the other institution that was created to reorder the global economic system at the end of the Second World War, the International Monetary Fund (IMF).



“Recent developments have revealed the additional frailties and vulnerabilities of small states to natural disasters and financial collapse,” Dookeran said. “Small states everywhere are facing specific challenges that deserve greater attention at the international level.”



Ramdin, who hails from Suriname, urged the leaders of smaller economies to balance “both caution and creativity”, and to be more resourceful and creative managers while at the same time acting responsibly and carefully.



Assistant Secretary General Ramdin also held talks with the trade minister, Stephen Cadiz, on specific initiatives to expand CARICOM trade markets within the 34-nation western hemispheric body.