CARICOM Single Market and Economy (CSME)

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Contact Details

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History

2002, following a proposal July 1989, Grand Anse (Grenada), by Conference of Heads of Government of the Caribbean Community, within the framework of Caribbean Community (CARICOM). Based on 9 Protocols amending the Treaty of Chaguaramas, the first of which came into force on 4 July 1997. The last remaining 2 Protocols were signed in early 2000. Treaty of Chaguaramas - Revised, signed July 2001, Georgetown, paves the way for CSME, which was institutionalized 16 Nov 2004. CARICOM decided during 18th Inter-Sessional Meeting, St Vincent-Grenadines, Feb 2007, to phase single economy component in between 2009-2015. Phase I: consolidation of the single market and initiation of a single economy implemented no later than 1 Jan 2009. Phase II: consolidation and completion of the single marked expected to cover 2009-2015. Replaces and expands the concept of Caribbean Common Market -- Marché commun des Caraïbes -- Mercado Común del Caribe.

Aims

Enable CARICOM to participate in the globalized arena by establishing systems for: hassle-free and unrestricted movement of all citizens, whether visitors, traders, skilled persons, job-seekers or entrepreneurs; unrestricted trade in goods originating from CARICOM; free movement of services; free movement of capital to purchase, sell, trade or negotiate in all legitimate forms across participating member states.

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Activities

Politics/policy/regulatory.

Structure

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Relations with Inter-Governmental Organizations

Relations with 5 inter-governmental organizations.
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Members

Members in 13 countries
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Type I Classification

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Type II Classification

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Subjects *

  • Commerce
    • Market
  • Government
    • Intergovernmental Communities
  • Economics
    • Economy

UN Sustainable Development Goals **

GOAL 8: Decent Work and Economic Growth

UIA Org ID

F5457

Last News Received

2019
* Subject classification is derived from the organization names and aims.
** UN SDGs are linked to the subject classification.

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