A Brief History of Caricom

Only available on StudyMode
  • Download(s) : 495
  • Published : December 1, 2011
Open Document
Text Preview
A Brief History of CARICOM
Retrieved from: http://csmenetwork.com/2/caricom-cd/General%20CARICOM%20Info/history2.htm CARICOM Single Market and Economy (CSME)
The decision, in 1989, to establish the CSME was a move to deepen the integration movement to better respond to the challenges and opportunities presented by globalisation. Preparations for the establishment of the CSME included the negotiation of nine Protocols to amend the Treaty. These nine Protocols were later combined to create a new version of the Treaty, called formally, The Revised Treaty of Chaguaramas Establishing the Caribbean Community, including the CARICOM Single Market and Economy which was signed in 2001.

The main objectives of the CSME are: full use of labour; full exploitation of the other factors of production; competitive production leading to greater variety; quality and quantity of goods and services, thereby providing greater capacity to trade with other countries. On 1 January 2006, the Single Market component of the CSME came into being, involving Barbados, Belize, Guyana, Jamaica, Suriname, and Trinidad and Tobago. The other Member States except The Bahamas and Haiti, which had not signified their intention to participate in the CSME, and Montserrat – a British Dependency, which must await the necessary instrument of entrustment from the United Kingdom - became part of the Single Market in July 2006. The framework for the Single Economy component of the CSME is expected to be in place by 2008. Caribbean Court of Justice (CCJ)

The idea of a Caribbean Supreme Court is not a new one. From as early as the beginning of the 20th century, opinions were being expressed in support of such a court and at a meeting in 1947, West Indian governors reflected on the need for a West Indian Court of Appeal. Since then, at varying intervals suggestions were made for such a supreme court. At the 12th Inter-Sessional Meeting of The Conference in 2001, Bridgetown, Barbados, the Heads of...
tracking img