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May 2009
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Rhetoric and reality Summing up the ‘benefits’
In that context, an analysis of the VSOA in terms of national and/or regional benefits might well focus on whether the “benefits” of the VSOA will contribute to sustainable development of Trinidad and Tobago and the wider Caribbean region. There has been much talk about the benefits of the VSOA. Prime Minister Patrick Manning was recently quoted as saying that there “can be no doubt about the gains to our country and the region from this undertaking…” “Tourists arrivals will increase…and it will certainly be much easier to market our region as a single tourism destination.” The PM also spoke confidently of the benefits that could accrue to the business community of the Americas since they would be now “more aware than ever of the investment opportunities in Trinidad and Tobago … and the flow of investment will certainly grow.” Let’s first look at the economic benefits of the VSOA. What, if any, are the short, medium and long term economic benefits that may be identified? The first bit of tangible economic information is the cost of the VSOA—reportedly somewhere in the region of TT$400m, but with the speculation that the final cost may actually be much higher. Aesthetically, the people of Trinidad and Tobago can enjoy the newly constructed Waterfront in Port of Spain, as well as the freshly painted walls and roads throughout various parts of the country. In terms of anticipated economic benefit to the country, let’s begin by taking a cue from the Prime Minister on an increase in tourist arrivals. If such an increase in tourist arrivals does materialise, it will be quite welcomed by those Caribbean countries that are heavily dependent on tourism, such as Jamaica and Barbados and the smaller OECS countries. These have been bracing for, and already are facing, a decline in arrivals as many international tourists from North America and Europe (the main source of the region’s tourism market) are reprioritizing their holiday options: Should I splurge on a trip to the Caribbean or stay closer to home, just in case things get worse in the economy at home? From the national perspective, 40% of our economic wealth (GDP) in 2008 was derived from petroleum. This suggests for us certainly, that any increase in tourist arrivals may not yield a significant national economic benefit given that we are not as heavily dependent on the tourism industry as some of our other Caribbean neighbours. Regarding the investment benefits, presumably many discussions were held behind closed doors among the private sector members who participated in the VSOA. Only time will tell if those discussions will yield public (vs private) economic fruits. The environment was featured in the theme of the VSOA (and it is referenced repeatedly in the Declaration of Port of Spain). However, it is not immediately clear what, if any, tangible decisions were taken at the VSOA that could redound to the benefit of countries such as ours, which rely heavily on the environment but which also face the ravages of the environment, sometimes on an annual basis. The US President, Barack Obama, has signalled the intention of his new administration to deal with climate change as a clear and present danger to economic development, and to also intensify their initiatives in the area of renewable energy. The environment is central to our national and regional sustainable development—the environment feeds us and provides us with much of the region’s economic wealth via petroleum, agriculture and tourism. Fossil fuels (from petroleum, for example) are a main source of greenhouse gas emissions responsible for climate change. Developing countries, such as ours in the Caribbean, will also be hardest hit by the impacts of climate change and our capacity to adapt to these anticipated impacts is limited, at best.
I think Canada’s initiative could provide additional resources for institutions such as The University of the West Indies (UWI) to continue our research contributions to the regional quest for sustainable development. Work on alternative energy strategies; on sustainable agriculture and sustainable tourism policies; on climate change adaptation and disaster risk management policies, and on how to survive the global economic crisis (without repeating the mistakes of the 1980s) would be included in my list of top ten research priorities. Amid the mixed pre- and post- reactions to the VSOA comes the sobering message from T&T’s Central Bank that the country is about to face trying economic times. Not the kind of news one would think consistent with the much touted “benefits” of the VSOA. But I do recognise that the “benefits,” if there are to be any, may not materialise in the short or medium term. Alas, in the short and medium term, we, the people of the Caribbean, are concerned with more mundane day to day, relevant issues of our sustainable development, including unemployment, inflation, access to quality health care, crime, flooding and our youth. Based on what has been published as the Declaration of Port of Spain, it would appear, sadly, that the VSOA fell short of addressing and assuaging John and Jane public’s concerns, mine included, of any immediate solutions, “benefits” as it were, in these areas. But maybe if we can survive the hard times ahead, we might be able to say, like Dr Stalin, that “better days are comin… and dey comin and dey comin.” Dr Marlene Attzs is a Lecturer, in the Department of Economics, Faculty of Social Sciences, at The University of the West Indies.
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The Fifth Summit of the Americas (VSOA) hosted by the Government and people of Trinidad and Tobago had as its overarching theme “Securing Our Citizens’ Future by Promoting Human Prosperity, Energy Security and Environmental Sustainability”. One can surmise that selecting this theme was meant to reflect key elements of sustainable development; that is, seeking to maximise economic benefits, ensuring purposeful and meaningful environmental management while seeking to address social priorities.
From where I sit perhaps the greatest opportunity for a tangible benefit to our country and region from the VSOA is in the commitments made by the Canadian Prime Minister, Stephen Harper, who announced, among other things, Canada’s new Emerging Leaders in the Americas Programme (ELAP) which will “provide up to 1,600 scholarships for students and researchers” to develop their knowledge and skills for the benefit of Caribbean people. Not a short-term, finite investment but an investment in human capital and research with the potential to contribute to truly sustainable development.