The following is an excerpt that was taken from the front page of the October 19th publication of the Latin America Advisor.

“The Caribbean is better positioned than any other region in the world to take advantage of the “blue economy,” Valerie Hickey, a practice manager at the World Bank, said this month. The blue economy, which the multilateral lender describes as the sustainable use of ocean resources for economic growth, improved livelihoods and jobs, has only now begun to take hold among countries in the region, she added. What opportunities would a focus on the blue economy bring to the Caribbean, and what are some possible obstacles standing in the way? What else can Caribbean nations do to snap back from recession, both individually and as a region, and what tools are at their disposal to finance their recoveries? How can the region’s countries diversify their economies, and which sectors should they invest in to become more resilient to external factors?”

Here is International Trade Attorney and Consultant, Andrea Ewart’s response, which has been published on page two of the Publication:

“It makes sense for a region surrounded by water to make sustainable use of those resources for economic growth, improved livelihoods and jobs. However, the challenges facing the Caribbean in taking advantage of the ‘blue economy’ are the same ones it faces in capitalizing on the ‘digital economy,’ or in making other advances away from countries’ reliance on one primary economic driver—tourism or commodities export. The challenges include high levels of debt, high crime rates and high costs of doing business. These impediments coexist with an educated and talented work force, but entrepreneurs are stymied by the inability to access finance or do so only at a very high cost. Yet, with climate change posing an existential threat to the region, preserving the health of the ocean ecosystem is a matter of life and death to the Caribbean. Partnering with funders, the region could position itself as a thought leader on the blue economy. Small grants can support university researchers and innovators working to develop blue economy approaches and technologies, in particular climate change solutions, renewable energy, sustainable fisheries, waste management and efficient maritime transportation. Their small populations could also provide a real-world lab to explore the most promising innovations. Failures would be contained while successes could be scaled up for larger economies. Yes, the region needs to continue to address its systemic and structural deficiencies. However, a focus on the blue economy creates opportunities that could be pursued despite these challenges, perhaps also creating a way forward on post-Covid recovery.”

Andrea M. Ewart, Esq. is a seasoned international trade and customs attorney and policy adviser for various companies and governments with a demonstrated history of successfully developing and implementing sustainable and dynamic trade programs. She is experienced in creating partnerships with various business-support organizations to drive compliance and growth for international companies. The International Trade Attorney brings 17 years of consulting experience in understanding and teaching trade regulations to clients of/with varying backgrounds and expectations in preparation to be competitive in international business. Andrea also reviews and audits existing compliance programs to identify areas of improvement to fit the needs of the organization while meeting the challenges of operating globally.

What are your thoughts? Contact us or leave a comment below. You can read the article in its entirety at https://www.thedialogue.org/latin-america-advisor/