The document discusses the CSME (Caribbean Single Market and Economy), including its background as an outgrowth of CARIFTA established in 1968 to promote free trade in the Caribbean, its aims to further economic integration, and its achievements and failures in meeting objectives.
The document discusses the CSME (Caribbean Single Market and Economy), including its background as an outgrowth of CARIFTA established in 1968 to promote free trade in the Caribbean, its aims to further economic integration, and its achievements and failures in meeting objectives.
The document discusses the CSME (Caribbean Single Market and Economy), including its background as an outgrowth of CARIFTA established in 1968 to promote free trade in the Caribbean, its aims to further economic integration, and its achievements and failures in meeting objectives.
Caliste, Jalene Blackman, Iyanna Dehyrangeit, Shenia J. Alexander, Tiona Smith INTRODUCTION
Back Aims Achieve Failure
ground ments
Background Aims Achievements Failures
The member states and The objectives and goals The successes and aims The areas in which the reason for the start of of CSME. met by CSME. institution fell short or CSME. failed to meet set objectives Background
• The history of the CSME (CARICOM Single Market and
Economy) can be traced back to 1968, with the establishment of the Caribbean Free Trade Area (CARIFTA) which served the limited purpose of removing tariffs and other barriers to intra-regional trade in goods.
• Jamaica claimed that it was disproportionally represented
in the federation and pulled out. Other countries followed suit. This ultimately resulted in CARIFTA being short- lived. However, it did provide a foundation for the formation of the Caribbean Community and Common Market (CARICOM), which still exists today.