CARICOM

OJECTIVES
1. To improve economic development of members through free trade.
2. To establish functional cooperation in areas such as health, education, intra-regional
assistance, meteorological services, broadcasting among other areas.
Organizations that ensure functional cooperation
 Caribbean Development Bank (CDB)
 Caribbean Investment Cooperation (CIC)
 Caribbean Broadcasting Union (CBU) (regional broadcasting television
station)
 Caribbean Meteorological Organization (CMO) (provides weather
broadcasting
 Caribbean Disaster and Response Emergency Response Agency
(CDRERA)
 Caribbean Public Health Agency (CARPHA)
 Caribbean Agriculture and Research Development Institute (CARDI)
 West Indies Cricket Board (WICB) (manages the West Indies cricket
team)
3. Establish common policies in dealing with non-members/overseas investors.

PRINCIPLE ORGANS OF CARICOM

1. The Conference Head of Government- consists of the head of Government/state of the
CARICOM member states. The Heads of Government are expected to meet at least twice
per year and is chaired by one of the heads of government.
Functions of the Conference of Heads of Government
 Policies and the general direction of CARICOM (eg. During the pandemic the conference
would have discussed how to deal with the COVID-19 virus. After coming to a decision,
they will contact the Caribbean Public Health Agency (CARPHA) to assist in putting
relative decisions in place).
 Negotiating and signing treaties between CARICOM and other international bodies. (this
foster economic integration with the region and those outside the region).
 Make financial arrangements for meeting the expenses of the community. (eg; regional
development and funding for CARDI).
 The resolution of disputes among member states.

2. Institution of Ministers- this body is subdivided into specialized units. Eg: the Ministers
of Health from each member state will form the Institution of the Ministers of Health.
Functions of the Institution of Ministers
  Formulation and adoption of common policies for their respective Ministries. (Eg; the
Institution of Ministers Health will be responsible for the formulation and adopting of a
common policy to deal with AIDS in the Caribbean).
 Resolving of problems arising within their respective ministries.

3. Common Market Council- comprised of a minister of government appointed by each

respective member state.
Functions of the Common Market Council
 Overseeing the effective operation of free trade among member states.
 Ensuring that trade barriers such as taxes, quotas etc are not applied in trading
between member states.
 Operation of free movement of citizens from one member state to establish business
in another member state.
 Applying common policies in dealing with non-member states and transnational
corporations.

4. CARICOM Secretariat- the headquarters of CARICOM and is located in Georgetown,

Guyana. The Secretary General heads this organization.
Functions of the CARICOM Secretariat
 Making arrangements to facilitate meetings of any CARICOM body.
 Implementing decisions taken by any CARICOM body.
 Undertaking research on issues relating to economic integration.
 Preparing estimates of expenditure for any project relating to CARICOM objectives.

FAILURES/CHALLENGES OF CARICOM
1. The promised increase in trade and economic development throughout the region has not
yet materialized. For example some stronger countries such as T&T have seen the
benefits of free trade but some others have not.
2. Regional integration does not appear to be a consistent and urgent desire for Caribbean
people. It is believed that this is because most countries tend to put their own needs first
before that of the wider region.
 THE ORGANIZATION OF EASTERN CARIBBEAN STATES (O.E.C.S)
The OECS was established on June 18, 1981 by the signing of the Treaty of Basseterre.
Members include:
1. Antigua and Barbuda
2. Dominica
3. Grenada
4. Montserrat
5. St.Kitts & Nevis
6. St. Lucia
7. St. Vincent and the Grenadines
(As much smaller states, they were vulnerable to natural disasters and external shocks to their
economies and so they felt that their survival depended upon greater cooperation among
themselves).
OBJECTIVES
1. Assist each other in defending and maintain political independence.
2. Deal more effectively with international bodies by forming a common foreign policy.
3. Promote development by the formation of a common market among member states.
FUNCTIONS OF THE OECS
1. The Authority of Heads of Government- consists of the Prime Ministers of existing
member states. They are responsible for the overall operation of the organization, the
conclusion of treaties and other international agreements.
2. Defence and Security Committee- responsible for ensuring cooperative action among
member states in defending their independence.
3. Economic Affairs Committee- ensures the promotions of free trade among member states,
and formulate s plans for further cooperation that will result in economic development.
4. Sports Desk- promotes the development of sports in the eastern Caribbean.
5. Foreign Affairs Committee- ensures that there is a common understanding in maintain
relations with one another and with no-members.
6. Legal Affairs Committee- resolves legal disputes arising out of the agreement which gave
birth to the OECS. It also ensures the effective operation of the common Supreme Court
which is shared by all members.

OECS Secretariat- located in St. Lucia and headed by a director general who has overall
responsibility for the authority. The Secretariat is responsible for:
 Assist members in dealing with challenges of economic and social stability caused by a
rapidly changing economy
 Protect human and legal rights
 Encourage good governance of member countries
  Share responsibility in case of natural disasters

OECS ACHIEVEMENTS
The OECS has achieved:
 A single currency
 A central bank
 A single judicial system
 A joint civil aviation authority
 ASSOCIATION OF CARIBBEAN STATES

The ACS is an organization which at present consists of twenty -five member states, three
associate members, and fourteen countries with observer status. The ACS was inaugurated on
July 02, 1995, with its administrative office in Port-of Spain, Trinidad
Objectives of ACS
 Incorporating the collective human and physical resources of the Caribbean for
economic, social, cultural and technological advancement
 Maximizing the Caribbean sea by working with member states
 Encouraging increased trade and investment though cooperation
 Providing new and improved measures to promote the cultural identities of its
membership.

Members of the ACS

Twenty-five Caribbean and Latin American States. They are:
 Antigua and Barbuda
 Bahamas
 Barbados
 Belize
 Columbia
 Costa Rico
 Cuba
 Dominica
 Dominican Republic
 El Slavador
 Grenada
 Guatemala
 Guyana
 Haiti
 Honduras
 Jamaica
 Mexico
 Nicaragua
 Panama
 St Kitts and Nevis
 St Lucia
 St Vincent and the Grenadines
 Suriname
  Trinidad and Tobago
 Venezuela.

Associate Membership
1. Martinique, Guadeloupe &French Guiana
2. Netherland Antilles
3. Aruba
Associate members have the right to participate in discussions and vote only on matters which
affect them directly. The ACS fourteen (14) members with observer status. They are: Argentina,
Brazil, Canada, Chile, Ecuador, Egypt, India, Italy, Netherlands(Holland), Korea, Morocco,
Peru, Russia and Spain.

Bodies of the ACS

The ACS has two major bodies:
1. The Secretariat
2. The Ministerial Council

The Secretariat
The Secretariat is the administrative office of the ASC. It comprises a Secretariat General and
other support staff. According to the constitution, the Secretary General holds office for a period
of four years on a rotational basis. The main function of the Secretariat is to assist in the
organization in implementation of policies and programmes.

The Ministerial Council

The policy making body of the ACS
 Committee on Trade , Development and External Economic Relations
 Committee for the protection and conservation of the Environment
 Committee on Natural Resources
 Committee on Science, Technology, Health, Education &Culture
 Committee on Budget and Administration

Achievements of the ASC

 Establishment of the Sustained Tourism Zone of the Caribbean (STZC)
 Regional cooperation in natural disaster
 Uniting the Caribbean by air and sea to facilitate trade and Tourism
 Cooperation in the field of Science and Technology
 Promotion of teaching the official languages- English, Spanish and French
 Planning of a cultural calendar that will contain events of major cultural and historical
events.
 CARICOM SINGLE MARKET AND ECONOMY (C.S.M.E)

In 2002 the Treaty of Chaguaramas which was signed to form CARICOM was altered to form
CSME and this was called the Grand Anse Declaration. CSME is a response to the challenges
and opportunities of globalisation and trade liberalisation because of increase in technology and
faster transportation from one country to the next and free trade for member countries, by
working together and encouraging free movement of goods, services, money and people, the
Caribbean countries would benefit in many ways such as increased economic development.
Members of the CSME include:
1. Antigua and Barbuda
2. Barbados
3. Belize
4. Dominica
5. Grenada
6. Guyana
7. Jamaica
8. St.Kitts/Nevis
9. St. Lucia
10. St. Vincent & the Grenadines
11. Suriname
12. Trinidad and Tobago
OBJECTIVES
 Free movement of goods and services through measures such as eliminating all barriers
to intra-regional movement and harmonizing standards to ensure acceptability of goods
and services traded
 Improved standards of living and work
 Full employment of labour and full exploitation of other factors of production
 Accelerated, coordinated and sustained economic development and convergence
 Expansion of trade and economic relationships with third states
 Enhanced levels of international competitiveness
 Organization for increased production and productivity
 The achievement of a greater measure of economic leverage

The CSME is made up of two main parts:

1. The Single Market
2. The Single Economy
THE SINGLE MARKET
Functions of the Single Market
 1. Free movement of goods and services- goods produced in any member state can enter
another member state without customs duties, quotas or licensing requirements.
2. Rights of establishments- permitting the establishments of CARICOM-owned businesses
in any member state without restrictions.
3. Free movement of capital- a CARICOM national can move to any member state with his
machinery, equipment or finances to set up a business.
4. Free movement of skilled labor- the right of a CARICOM national to seek work or
engage in gainful employment in all CARICOM member states (except the Bahamas,
Montserrat and Haiti) without the need to obtain a work permit. CARICOM nationals in
the following categories have the right to work in any member state without obtaining a
work permit:
 University graduates
 Artistes
 Musicians
 Sportsperson
 Media workers
 Nurses and teachers
 A self-employed person or staff of an established business or firm
If you do not belong to the categories, you must obtain a work permit.

CARICOM SINGLE ECONOMY

The CARICOM Single Economy deals mainly with the harmonization of fiscal and monetary
policies among member states.
1. Legislation- including company laws and those involving intellectual property rights.
2. Fiscal policy- member states would now have to pursue corresponding revenue and
spending policies.
3. Monetary policies- coordinating commercial banking market and exploring the
introduction of CARICOM common currency.
4. Economic policy- harmonizing foreign investment policy and adopting measures to
acquire, develop and transfer appropriate policies across agriculture, manufacturing and
fisheries.
NB. Caricom do not have a successful single economy.
 REGIONAL DEVELOPMENT FUND/THE CARIBBEAN DEVELOPMENT FUND
(CDF)
The CARICOM Development Fund (CDF)/ The Regional Development Fund - is an institution
of the Caribbean Community which mandate is to provide financial or technical assistance to
disadvantaged countries, regions and sectors in the Community. As such, it is an important agent
for addressing the disparities among the Member States of CARICOM, which may result from
the implementation of the CSME. It was established in 2008 and is located in Barbados.
The members:
1. Antigua and Barbuda
2. Barbados
3. Belize
4. Dominica, Grenada
5. Guyana
6. Jamaica
7. Saint Lucia
8. Saint Kitts and Nevis
9. Saint Vincent and the Grenadines
10. Suriname
11. Trinidad and Tobago