A workshop will be held on March 16, 2023, in Bridgetown, Barbados, as part of the United Nations Joint SDG Fund Project entitled "Food security and livelihoods resilience through analytical, capacity building and policy support in response to the global crisis on food, energy and finance." The workshop will present the findings of the Cost-effectiveness assessment of trade related regulations for grains product in Barbados, which was conducted by the United Nations Conference on Trade and Development (UNCTAD) using the cost-effectiveness non-tariff measures toolkit to analyze the impact of non-tariff measures (NTMs) on imported grains such as wheat, soya bean, and maize in Barbados.
As Barbados continues to grapple with the 'triple crises' of the COVID-19 pandemic, the war in Ukraine, and the destabilizing impacts of climate change, the workshop aims to chart a way forward with regulatory and procedural improvements in the business environment for the private sector. This approach aims to ultimately lessen the impact of escalating food prices on consumers by developing an action plan for the implementation of recommended policy proposals. NTMs have a significant impact on international trade, influencing who trades what and how much, and, at the same time, are important for consumer protection. Understanding their implications is essential to formulate effective development strategies that achieve Sustainable Development Goals.
We hope that this methodology will contribute to Barbados' regulatory practices and the promotion of a business-friendly environment for the private sector while achieving public policy objectives at as-low-as-possible compliance costs. The workshop is an opportunity for stakeholders to discuss and provide feedback on the findings and recommendations presented, and we look forward to engaging with participants to achieve these goals.
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