“I think, even more so for Grenada, that we should not be tackling or deepening CSME at this particular time without that fund in place to deal with the marginalised situation that we may find ourselves in.”
Grenadian manufacturers, Mitchell pointed out, are now recovering after their plant and equipment was destroyed. He added that rising oil prices are also having an effect on manufacturers.
“Let’s face it, with increases in oil prices, how do we compete with another country able to subsidise the oil price to the society based on the fact that they are producing?” he asked. “If we are to have a better Caribbean, then we must have a fairer Caribbean.”
With rising fuel costs in mind, Mitchell is also looking for a PetroCaribe deal that can benefit T&T and its Caricom neighbours.
“We certainly supported it. I believe a solution can be found. Trinidad has done extremely well for me and I would not want to be in anything and feel comfortable if Trinidad is very unhappy,” Mitchell said.
“While I agree that Grenada will benefit and we should be in it, I also want a resolution to the conflict.”
Almost all Caricom countries have signed the PetroCaribe deal which will see Venezuela give them enhanced payment terms for fuel, as well as aid.
Dominica has already benefited with the supply of fuel tanks.
The exceptions to Caribbean countries signing are T&T and Barbados.
Prime Minister Patrick Manning has expressed his concern that the deal would be harmful to T&T’s regional oil sales, while Manning’s Barbadian counterpart, Owen Arthur, has said the deal would not be compatible with the energy agreements between those two countries. Petrotrin refines oil for Barbados.
Mitchell said yesterday that one solution to the problem could be to have T&T refine Venezuelan oil destined for the region under PetroCaribe.
Manning, Arthur and Jamaican PM PJ Patterson recently had a meeting to discuss the deal and have called for more discussion to mitigate the effects on T&T.
Grenada recently lowered its subsidy on gasolene, a side effect on the need to use cash for reconstruction. With the lower subsidy, Government basically breaks even on gasolene.
Mitchell added that some businesses are using higher gasolene prices to increase prices in other areas.
