Ministry of Finance, Sustainable Development, Information and Technology November, 2006 6
National ICT Strategic Plan Government of St Kitts and Nevis Saint Kitts and Nevis St Kitts and Nevis is a premier small island developing state as is evidenced by its successful record of economic performance and social development. An analysis of St Kitts and Nevis’ situation from the geopolitical, social, economic and structural perspectives showcases the odds of the country achieving greater long-term sustainable economic growth and development over the strategic planning period 2007 to 2012. St Kitts and Nevis is one of 12 Small Island Developing States (SIDS) in the Caribbean Basin. The islands have no known mineral resources. Despite its small size, St Kitts and Nevis has a relatively high per capita income of approximately US $8,800 making it a middle-income developing country. Since independence from Britain in 1983, successive governments have sought to diversify the production base of the economy. Given its soil, topography and rainfall Ministry of Finance, Sustainable Development, Information and Technology November, 2006 7
National ICT Strategic Plan Government of St Kitts and Nevis patterns, sugar - manufactured from sugar cane - has traditionally been the island’s most significant export product. However, manufacturing and tourism emerged as major foreign exchange earners during the 1990s. St Kitts and Nevis’ beautiful beaches and its social stability have been important factors in attracting an increasing number of tourists since the late 1980s. In addition, a relatively stable economic climate has provided an attractive environment for foreign investment and a growing offshore services industry. St Kitts and Nevis is a member of the major international organisations such as the United Nations (UN), World Health Organisation (WHO), World Bank (IBRD), International Monetary Fund (IMF), Inter-American Development Bank (IDB), International Labour Organisation (ILO) and the World Trade Organization (WTO). In 1968 several Caribbean countries formed the Caribbean Free Trade Association (CARIFTA), which was successful to the extent that it solidified trade among its members. In an effort to deepen regional integration and to expand cooperation in other areas of development, members of CARIFTA signed the Treaty of Chaguaramas in July 1973 to create the Caribbean Community (CARICOM). St Kitts and Nevis is a member of CARICOM. Currently, countries in the CARICOM region are taking steps to further deepen the integration movement through the creation of a CARICOM Single Market and Economy (CSME). In the creation and pursuit of the vision for St Kitts and Nevis, it is important that we harness our strengths, exploit all opportunities, minimize our weaknesses and mitigate the impact of threats emanating from the internal and external environment.
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