SEPTEMBER 2 0 0 7
Issue 8

LETTER FROM THE EDITOR

H O T O F F T H E P R E S S
Events, announcements and news
from around the region. Que Pasa?

COUNTRY FOCUS : COSTA RICA
Standards : High and Higher
Economy: Borrowers and Lenders
Green : An Ounce of Prevention
Investment : ROI for the Future
Geography : Valle Central

S P E C I A L F E A T U R E S
C02 Offsets : Effective Indulgences?
Cay Caulker : Sand and Chocolate
Extreme Weather : Living With Itl
Antigua : Small Fish and Rice Price

P I C K O F T H E M O N T H
Jaco Beach Village Costa Rica
Guatemala Coffee Farm for Sale
Venezuela Property Investment

H O T O F F T H E P R E S S

This means bringing a claim for judicial review of the former Chief Minister's 31st January decision granting planning approval for the 5-star hotel, mega-yacht marina and golf-course development on Beef Island.

The claim for judicial review is based, amongst other issues, on s.51(1) of the 2003 Fisheries Regulations which provides that "no person shall carry out any development activity, whether terrestrial or otherwise, which may or is likely to adversely impact on a marine protected area." Contravention of this section is a criminal offence and so is aiding, abetting and procuring the same.

The Hans Creek Fisheries Protected Area is protected by this law and scientific evidence shows that the development of the proposed golf course and marina at Beef Island will have irreversible adverse environmental impacts on this protected fisheries habitat. This, in addition to other relevant issues, would have the effect of rendering the planning approval void for illegality. The Planning Act does not override other legislation in the BVI but provides instead that no development is exempt from meeting the requirements imposed by other laws.

A successful claim will mean that the new Government can go back and take a fresh look at the development proposal, this time coming to a decision that is within the scope of the law, thus protecting our
most importance resource - our natural environment.

The Air Transport Agreement (ATA) is one country away from ratification.

The agreement could become a foundation for a Greater Caribbean air transport system, to provide the benefits of a regional airline, supporting economic growth and trade integration without the need for major State subsidy.

The new system would also play a crucial role in addressing the situation of the outrageous air costs which are the primary result of lack of competition.

It is unacceptable that intraregional investments and trade in goods and services are still less than 8% of our total international trade receipts, and that the Caribbean is still four times more dependent on tourism than any other region of the world. The high cost of imported goods, particularly food, and the ever increasing cost and ever decreasing quality of flying within and into our region is a prime cause.

n response to this the CARICOM Heads of Government Meeting held in Barbados in July agreed to develop and implement a regional air and maritime transportation policy designed to create affordable, reliable and safe intra-regional transportation services.

The bulk of goods in the Greater Caribbean is transported by ship, so it is sea transport that needs to be addressed most. Caribbean ports do not lack overall capacity, nor is the number of carriers insufficient for present needs. Instead, a centralised regulatory and legal framework is needed to improve administrative practices, stimulate investment to modernize existing facilities, and ensure efficient pooling of resources throughout the region.

In its policy to “Unite the Caribbean by Air and Sea” the ACS recognised the need to address the untenable situation of transport in the region which eventually led to the negotiation of the Air Transport Agreement (ATA).

Now we need to address our maritime needs and we might be in business.

"Though we have fortunately moved away from the traditional wisdom which blamed the maritime and air industries for all our transport woes, the fact remains that, tariff barriers aside, it is in transport where governments and all stakeholders can make the most significant impact upon meaningful integration in the Greater Caribbean." writes
Luis Carpio, who is the Director of Transport and Natural Disasters of the Association of Caribbean States.

Bananas plants are not intrinsically strong and succumb very easily to high winds.

Category two Hurricane Dean delivered a devastating blow to banana crops on some of the Windward Islands, Martinique and Guadeloupe, before moving northward to Jamaica and Belize.

The French departments of Martinique and Guadeloupe have between them lost 80 percent of their crop, or up to $161 million. Jamaica's banana industry has been almost entirely wiped out. Dominica has lost 90 percent of its crop, while in St Lucia, that figure stands at 60 percent.

Banana exports in the first half of 2007 earned $18 million US for the Windward Islands.

The passage of Dean was another major setback for the industry, which was already struggling with strong competition and with the gradual loss of preferential access to the European market.

Farmers have already begun receiving assistance from their individual governments and other organisations to help with the recovery process.

The Windward Islands Banana Development and Export Company (WIBDECO) has announced a $1.5m aid package. The European Union is also providing $4m in emergency aid to the Caribbean.

However the banana farmers say they will need additional support to revive the industry.

They are looking at 6-8 months before they can start to see an income again from their traditional crop.

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Hurricane Dean may have done a great deal more damage than originally thought.

Engineers and officials in Dominica are extremely concerned about a dam burst in the upper Layou river, the largest river in Dominica, which could cause catastrophic flooding to homes and farms in the beautiful Layou Valley.

In the autumn of 1997, close to the confluence of the Layou and Mathieu rivers, there was a series of dramatic landslides. The two rivers meet in a canyon -like gorge and upstream from this junction, the valley walls of the Mathieu River suddenly collapsed, sliding into the river and down into the gorge where the two rivers meet. A dam was created, plugging the Mathieu River though the Layou continued to flow. Today the Mathieu River is still blocked and a large lake has formed in the river valley behind the landslide dam. The lake is locally known as Lake Mathieu and sometimes Miracle Valley.

During 1998, the water impoundment behind the landslide dam on the Mathieu River stabilized. Water that accumulated behind the dam was seeping into the soil and under the dam with no visible deterioration of the dam itself.

To assist with continuous monitoring of landslide activity and movement of the landslide dam in 1999, the UWI Seismic Research Unit installed a seismometer at the foot of the slide. Local officials assigned to monitor the dam have been equipped with handheld radios so that sudden movements of dam material or any seismic activity can be detected.

But now that natural landslide dam is showing signs of breaching after heavy flooding and numerous landslides in the wake of Hurricane Dean.

The government is actively seeking expertise and aid in an effort to prevent a second disaster in the wake of the elimination of the banana harvest.

American Airlines is expanding its service to the Turks and Caicos Islands commencing December 15, 2007 when it adds a once weekly service between Dallas Texas and Providenciales.

Effective December 13, 2007, American Airlines will have 3 daily flights departing from Providenciales to Miami.

In addition, also as of December 13, 2007, American Airlines will have a once daily flight service between Providenciales and JFK, New York.

These additions come in time for the peak tourist arrival season and the Christmas holidays

.....AND A New Regional Carrier
In the wake of the merger between Caribbean Star and LIAT, Caribbean Sun Airlines Inc., a South Florida-based carrier that operated flights throughout the Caribbean from January 2003 to January 2007, a sister airline to Cariibean Star, has announced its intention to re-launch by the end of 2007.

Significantly upgrading its fleet and service capabilities, Caribbean Sun plans to return to the skies utilizing Boeing 737 jet aircraft – previously Caribbean Sun operated a fleet consisting solely of 37-seat Dash-8 turboprop aircraft. Recruitment efforts toward hiring new pilots will begin in the coming weeks.

Caribbean Sun's re-launch follows a comprehensive six-month re-structuring program to identify new growth opportunities in air travel and re-focus operations for greater profitability. Re-launch plans are subject to regulatory approvals from the US Department of Transportation (DOT) and the Federal Aviation Administration (FAA).

Details concerning Caribbean Sun's corporate leadership, new route structure and other operational issues will be disclosed following receipt of all government regulatory approvals.


.....and at Antigua Airport
An agreement officially linked the Miami International Airport and the V.C. Bird International Airport, has been signed. The agreement allows for the exchange of cargo and passenger movement data in each airport, historical statistical information; planned airport infrastructure developments, and general marketing research aimed at increasing passenger and cargo traffic at both airports, and opening further direct air routes to Miami.

The agreement also allows for both parties to consider the creation of a working group, made up of a limited number of representatives from each party, for the express purpose of putting in practice the intentions of the agreement.

Miami captures 50% of all US-Caribbean trade, with an estimated amount of $10 million dollars and currently the Miami International Airport is undergoing a 6.2 billion-dollar expansion. The V.C. Bird International Airport has also just seen major expansion and renovation work, mainly for ICC Cricket World Cup earlier this year.

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