The project, approved Wednesday by the Energy Ministers of the area during a session of the Council for Trade and Economic Development, plans to establish standards relating to energy and transport sector for the CARICOM common market.
Prepared by representatives of Barbados, Grenada, Guyana, Jamaica, Suriname and Trinidad and Tobago, also seeks to ensure regional cooperation mechanisms to maintain stable fuel costs.
Since mid-March 6 Caribbean islands, including Haiti, increased the value of the fuel into at least five dollars, due to the recent rise in world market prices.
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