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Advantages and Disadvantages of the Caribbean Single Market and Economy

CARICOM SINGLE MARKET AND ECONOMY
Background
In 1989, the Heads of Government of the Caribbean Community (CARICOM) at their Tenth Conference in Grand Anse Grenada declared their intention to deepen the integration process and strengthen the Caribbean Community in all its dimensions. The Heads, at that time, determined that the Region would work towards the establishment of a single market and economy as one aspect of its response to the challenges and opportunities presented by the changes in the global economy. By 1992, at their Thirteenth Conference, the necessary technical work on, and conceptualisation of, the CARICOM Single Market and Economy (CSME), was completed and presented for endorsement by the Heads of Government.
In essence, the CSME was conceived as an instrument to facilitate economic development of the Member States in an increasingly liberalised and globalised international environment. The CSME was conceptualis...

Posted by: Rebecca Wyant

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