Course:CPS901 Accounting Procedures
Date:October 14, 2011
CARICOM and CSME (Caribbean Single Market Economy)
1.What is Caricom?
Caricom (The Caribbean Community) was originally called the Caribbean Community and Common Market. 2.When was it established and why?
It was established August 1st, 1973 by the Treaty of Chaguaramas. Revised Treaty of Chaguaramas was done in July 5th, 2001. Its purpose was to improve standards of living and work; full employment of labour and others factors of production; accelerated, coordinated and sustained economic development and convergence; expansion of trade and economic relations with third states; enhanced levels of international competitiveness; organization for increased production and productivity; achievement of a greater measure of economic leverage and effectiveness of Member States in dealing with third States, groups of States and entities of any description and the enhanced co-ordination of Member States’ foreign and foreign economic policies and enhanced functional co-operation. 3.How many countries make up Caricom?
Caricom is made up of 15 members, 5 associate members and 7 observers. The first four countries to sign were Barbados, Jamaica, Guyana and Trinidad and Tobago. There are 3 official languages, and 7 ethnic groups. 4.Who is the governing body of Caricom?
The governing body of Caricom is The Secretariat and is headed by a Secretary General who is the Chief Executive Officer of the Community. The present Secretary General is Ambassador Irwin LaRocque of Dominica, who was elected to office by the Conference Heads of Government on July 21st, 2011. He took up office August 15th, 2011. 5.What is their Mission Statement?
Their Mission Statement is to provide dynamic leadership and service in partnership with Community Institutions and groups, toward the attainment of a viable, internationally competitive and sustainable Community,...