INTERNATIONAL BUSINESS ENVIRONMENT

CCCM Regional Bloc

(Caribbean Community and Common Market)

Presented By Trapti mangal &Tanu Jain

REGIONAL BLOC
 A Regional Bloc (Trade Bloc) is a type of intergovernmental agreement, often part of a regional intergovernmental organization, where regional barriers to trade are reduced or eliminated among the participating states.  It is a type of intergovernmental association that manage and promote trade activities for specific region of the world.

Major Regional Bloc

 EU = European Union  NAFTA = North America Free Trade Agreement  ASEAN = Association of Southeast Asian Nation  SAARC = South Asian Association of Regional Cooperation  CARICOM = Caribbean Community & Common Market (CCCM)

History of CCCM
 The Caribbean Community and Common Market (CCCM) is now known as Caribbean Community (CARICOM)  It was established by the Treaty of Chaguaramas which came into effect on 1 August 1973.  The first four signatories were Barbados, Jamaica, Guyana Trinidad and Tobago.  Subsequently the other eleven Caribbean territories joint CARICOM.  The Caribbean Community (CARICOM) is an organization of 15 Caribbean nations and dependencies.  The establishment of the CARICOM was the result of a 15-year effort to fulfill the hope of regional integration.  The secretariat headquarters is based in Georgetown, Guyana.

About CCCM

OBJECTIVES OF THE COMMUNITY

CARICOM main purpose is to:  to promote economic integration and cooperation among its members  improved standards of living and work;  full employment of labor and other factors of production;  expansion of trade and economic relations with third States;  enhanced levels of international competitiveness;  organization for increased production and productivity;  enhanced co-ordination of Member States' foreign and economic policies  enhanced functional co-operation,

CARICOM Chairman
 CARICOM Chairman Prime Minister of CARICOM Is the Honorable Roosevelt Skerrit.  He has served as the Chairman of the OECS and most recently as Chairman of the Caribbean Community(CARICOM) since January 2010.

MEMBERS OF CCCM (CARICOM)

15 Full Members 5 Associate Members 7 Observers

Population and Economic Statistics of full members (15)

Population and Economic Statistics of Associates members (5) (5)

Under Article 4 the CARICOM organization breaks its 15 member states into two groups: Less Developed Countries (LDCs) More Developed Countries (MDCs).

Population and Economic Statistics of Observers (7)

Trade within the bloc

CARICOM SINGLE MARKET AND ECONOMY The CARICOM Single Market and Economy, also known as the Caribbean Single Market and Economy (CSME) It is an integrated development strategy envisioned at the 10th Meeting of the Conference of Heads of Government of the Caribbean Community which took place in July 1989 in Grand Anse, Grenada. The Grand Anse Declaration had three key Features: 1. Deepening economic integration by advancing beyond a common market towards a Single Market and Economy. 2. Widening the membership and thereby expanding the economic mass of the Caribbean Community (e.g. Suriname and Haiti were admitted as full members in 1995 and 2002 respectively). 3. Progressive insertion of the region into the global trading and economic system by strengthening trading links with non-traditional partners.

Trade within the bloc

FUTURE PROPOSALS:
     

Airline amalgamation Civil Society Charter Currency Union Freedom of Movement Political Union(s) Regionalized Stock Exchanges, Suriname and Trinidad and Tobago.

Trade with rest of the World

COMMON PASSPORT As of early 2009 twelve Member States have introduced CARICOM passports. These states are :  Antigua and Barbuda,  Barbados,  Belize,  Dominica,  Grenada,  Guyana,  Jamaica,  St. Kitts and Nevis,  St. Lucia,  St. Vincent  Grenadi.  The CARICOM passport creates awareness that CARICOM nationals are nationals of the Community, as well as a specific country.

Trade with rest of the World

 From around the year 2000, the Caribbean Community (CARICOM) states have placed a new focus and emphasis on establishing Free Trade Agreements (FTAs) with local and international trading partners.  In the past this was done in collaboration with the Caribbean Regional Negotiating Machinery (CRNM).

Trade with rest of the World

Free Trade Agreements:
   

CARICOM - Cuba (5 July 2000) CARICOM - Dominican Republic (December 2001) CARICOM - Costa Rica (9 March 2004) CARIFORUM - European Union EPA ("Economic Partnership Agreements")

Proposed:
 CARICOM - Canada: To be negotiated, after Canada finishes their CAFTA agreement.  CARICOM - Mercosur: Opened for discussions in May 2005  CARICOM - United States: Has been tossed around politically in various degrees including the idea of CARICOM seeking to be an entrant into NAFTA, but has not yet taken a firm position.