In the region, we continue to face many economic challenges in a global environment that is not always favourable. As we speak, there is uncertainty created by international developments such as the discussions on Brexit, protectionism and threats of trade wars, the risks posed by geopolitical risks to oil prices and rising interest rates.
At the same time, some of our economies, which have had to shift their economies from traditional primary products to services in an effort to facilitate growth and jobs and make them more resilient to economic and climatic shocks, now face the threats presented by the OECD initiative on Base Erosion Profit Sharing and the threats of EU blacklisting.