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CARICOM – (These notes are to be studied with your textbook),[object Object],What is the Treaty of Chaguaramas? ,[object Object],The Treaty of Chaguaramas is the Treaty which established the Caribbean Community (CARICOM). It was signed at Chaguaramas, Trinidad, on 4 July 1973 ,[object Object],When did the Treaty of Chaguaramas enter into force? ,[object Object],The Treaty of Chaguaramas which established the Caribbean Community came into force on 1 August 1973 ,[object Object],Which countries are members of CARICOM? ,[object Object],The CARICOM member states are: Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Lucia, St. Kitts and Nevis, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago. ,[object Object],What are the specific objectives of CARICOM? ,[object Object],The Community has the following objectives: (a) improved standards of living and work; (b) full employment of labour and other factors of production; (c) accelerated, co-ordinated and sustained economic development and convergence; (d) expansion of trade and economic relations with third States; (e) enhanced levels of international competitiveness; (f) organisation for increased production and productivity; (g) the 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; ,[object Object],(h) enhanced co-ordination of Member States' foreign and [foreign] economic policies; and (i) enhanced functional co-operation, including:,[object Object],[object Object]
accelerated promotion of greater understanding among its peoples and the advancement of their social, cultural and technological development;
intensified activities in areas such as health, education, ransportation, telecommunications. How does CARICOM work? ,[object Object],The meetings of the Heads of Government and of the ministerial Councils, also known as institutions, represent the main means of achieving consensus on regional issues and policies. The Conference of Heads of Government is the highest decision-making forum and the final authority of the Community. It is made up of the Heads of Government of the Member States. Because of the increasing number of issues to be decided and implemented, a subset of the Conference, called the Bureau, was instituted in 1992. The Bureau meets as necessary and reports to the Conference. ,[object Object],The Community Council of Ministers is the second highest organ of CARICOM, and consists of Ministers responsible for Community Affairs and any other Minister designated by Member States in their absolute discretion. The Community Council has primary responsibility for the development of Community strategic planning and co-ordination in the areas of economic integration, functional co-operation and external relations. The Community Council also has the responsibility for establishing a system of regional/ national consultations in order to ensure the effectiveness of the decision-making and implementation processes in the Community. ,[object Object],The following Ministerial Councils were also established to streamline the functioning of the Community and increase the smooth functioning of the different sectors: ,[object Object],The Council for Trade and Economic Development (COTED), which has been charged with the responsibility for the promotion of trade and economic development of the Community; ,[object Object],The Council for Foreign and Community Relations (COFCOR), which has been charged with responsibility for determining relations between the Community, and international organisations and Third States; ,[object Object],The Council for Finance and Planning (COFAP), which has been charged with primary responsibility for economic policy coordination and financial and monetary integration of Member States. ,[object Object],The Council for Human and Social Development (COHSOD), which is responsible for human and social development in the Community especially in the areas of health, education, labour and industrial relations, youth, women, and sports. ,[object Object],The following Subsidiary Bodies have also been established: ,[object Object],(a) the Legal Affairs Committee composed of Ministers responsible for Legal Affairs and/or Attorneys-General of Member States; ,[object Object],(b) the Committee of Central Bank Governors consisting of the Governors and Heads of Central Banks of Member States or their nominees; ,[object Object],(c) the Budget Committee consisting of senior officials of Member States. ,[object Object],What is a CARICOM Single Market? ,[object Object],It is an arrangement which allows CARICOM goods, services, people and capital to move throughout the Caribbean Community without tariffs and without restrictions to achieve a single large economic space, and to provide for a common Economic and Trade Policy. ,[object Object],What is a CARICOM Single Economy? ,[object Object],A CARICOM Single Economy is an arrangement which further harmonises economic, monetary and fiscal policies and measures across all Member States of the Caribbean Community to underpin the sustainable development of the Region. This would mean the coordination of foreign exchange and interest rate policies, the harmonisation of tax regimes and of laws and the convergence of economic performance among other measures ,[object Object],Why the Single Market? ,[object Object],There is more economic and political strength from a grouping of 15 countries as against the strength of a single country. ,[object Object],The small states of the Caribbean face better prospects within the CARICOM grouping than they do if they face mega-blocs and superpowers across the negotiating tables individually. ,[object Object],The Single Market and economy creates more opportunities for employment, investment, production and trade for the inhabitants of the Caribbean Community. ,[object Object],[object Object]
Globalisation is the process by which countries all over the world are becoming connected or similar especially because large companies are doing business in many different countries.How will the CARICOM Single Market and Economy be implemented? ,[object Object],[object Object]
Chaguaramas)

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Caricom Notes

  • 1.
  • 2. accelerated promotion of greater understanding among its peoples and the advancement of their social, cultural and technological development;
  • 3.
  • 4.
  • 6. By modification of the national laws, policies and programmes of Member States to
  • 7. accommodate these and other decisions made at the regional level
  • 8.
  • 9. Caribbean Meteorological Institute (CMI) – headquarters s in Barbados
  • 10. Caribbean Food Corporation – headquarters in Trinidad and Tobago
  • 11. Caribbean Environmental Health Institute (CEHI) – headquarters is in St. Lucia
  • 12. Caribbean Agricultural Research and Development Institute – headquarters is in Trinidad on the UWI St Augustine Campus
  • 13. Caribbean Regional Centre for the Education and Training of Animal and Veterinary Public Health Assistants (REPAHA) – headquarters is in Guyana
  • 14. Association of Caribbean Community Parliamentarians (ACCP)
  • 15. Caribbean Centre for Development Administration (CARICAD) – headquarters is in Barbados
  • 16. Caribbean Food and Nutrition Institute (CFNI) – has two locations, namely at the Mona Campus of UWI (Jamaica) and the St. Augustine Campus of UWI (Trinidad).
  • 17.
  • 18. Caribbean Examination Council (CXC) – located in Barbados
  • 19. Caribbean Law Institute/Caribbean Law Institute Centre (CLI/CLIC) – located at the Faculty of Law, Cave Hill Campus of the UWI, Barbados
  • 20. University of Guyana – located in Guyana
  • 21.
  • 22. The common history and cultural heritage which the people share make it possible for them to embrace common values and goals
  • 23. Small population – this is necessary for them to co-operate to form a large market; their small size also make it difficult for them to influence international organizations or countries individually.
  • 24. Limited resources (human and physical)
  • 25.
  • 26. The Challenges of trade liberalisation – Caribbean governments can no longer restrict extra-regional imports to protect regional manufacturers; they MUST compete in the world market on the same terms as the rich, industrialised nations.
  • 27.
  • 28. Differences in resource distribution – the unequal distribution of natural resources in the region makes those countries with limited resources feel that they would be at a disadvantage when trading with countries that have greater resources.
  • 29. Countries produce similar products and this may hinder trading relationships because it has reduced the opportunities for trade.
  • 30. Competition between countries – there is competition between countries for the location of new industries. There is also competition in the tourism industry.
  • 31. Differences in stages of growth and development – the LDC fear that the differences in the stages of growth and development between them and the MDC put them at a disadvantage in trading with the MDC in the region. This has lead them to reject or delay implementing some of the integration decisions.
  • 32. Influence of multi-national and metropolitan agencies – some of the countries in the region are not independent, eg. Montserrat and Anguilla are still subject to the control of England. An independent state is a country which is not governed or controlled by another country or organization.