CARICOM
CARICOM
CARICOM
CARICOM Integration
History Objectives Why CARICOM integration? Benefits of regional integration Overall Benefits Conclusion
1928 Regional Cricket Team to England 1968 Caribbean Free Trade Area (CARIFTA) 1958 Political Federation (-1962) 1948 Regional University - UCWI 1973 Caribbean Community and Common Market 1989 Decision to establish the CSME 2006 Entry into force of the Revised Treaty
CARIFTA
Common Market
- Devpt. of capital markets - Standard setting - Competition policy Co-ordinated devpt - Consumer protection of productive and econ. sectors Removal of barriers Single Market and Economy Goods, services, capital flows technology Free movement of skilled persons
http://www.vadlo.com/b/q?&sn=158621799&k=PPT+for+CARICOM& rel=2&srt=0&rll=0
Harmonisation of macro-economic policy Rights of Common external trade establishment of Policy enterprises
THE RESPONSE
The Conference of Heads of Government of the Caribbean Community, at its tenth meeting in Grande Anse, Grenada in 1989, decided to deepen the integration movement through the establishment of the CARICOM Single Market and Economy (CSME)
The Rationale
In deciding to establish the CARICOM Single Market and Economy (CSME). The Conference of Heads of Government noted the : need to work expeditiously together to deepen the integration process and strengthen the Caribbean Community in all of its dimensions to respond to the challenges and opportunities presented by the global economy.
The Opportunities
Globalisation presents enormous challenges for small economies such as ours in the Caribbean It also simultaneously presents several opportunities to those countries and regions geared to take advantage of it The most important and urgent requirement for seizing the opportunities presented by the global environment is the transformation from a labour intensive to a highly trained knowledge -based workforce
Regional Integration
1989-Caribbean Single Market and Economy (CSME) common market and a harmonization of economic policies In 2001-Treaty of Chaguaramas which revised the CSME
http://www.cifalatlanta.org/workshops/commercial_diplomacy/04202005/presentations/CIFAL_CSME.ppt.htm
Why INTEGRATE?
Cultural
- Common History and Caribbean Identity
Political
- Decolonization to Globalization
Social
- Shared resources for the betterment of our people - Larger (combined) Economy
Why INTEGRATE?
Economic -Overpowering the limitations of:
Size: small labour force; small individual consumer markets; limited resources for investment; Economic Vulnerability: small/micro economy; natural disasters; structure of economy Rigid economic structure: non-diversified economy; preferential market access; high dependency on customs revenue; -Integration in the Global Economy
Coordinate aspects of members economic and political systems Remove barriers to trade, labor, and capital; set a common trade policy against nonmembers; and coordinate members economic policies Remove all barriers to trade, labor, and capital among members; and set a common trade policy against nonmembers Remove all barriers to trade among members, and set a common trade policy against nonmembers Remove all barriers to trade among members, but each country has own policies for nonmembers
International Business 4e Chapter 8 - 16
Economic Union
Common Market
Customs Union
Free-Trade Area
International Business 4e
Chapter 8 - 17
Objectives of CARICOM
1. To improve and sustain economic
Objectives of CARICOM
2. Functional cooperation in the Caribbean: Shipping Air transport Metrological services Health
Objectives of CARICOM
3. Common policies
Dealing with non members states Trans-national corporation Common external tariff Attracting foreign investors Tourism Importing goods and services from outside the country
Effects of Integration
Potential benefits
Trade creation Greater consensus Political cooperation Creates jobs
Potential drawbacks
International Business 4e
Chapter 8 - 21
Removal of duties, taxes and quotas and licensing arrangements Higher levels of demand for goods and services
HEALTH
NASSAU DECLARATION CARIBBEAN COOPERATION IN HEALTH INITIATIVE DECLARATION OF PORT-OF SPAIN ON NCDS
In the final analysis the objectives of the CARCIOM Integration and the agreements and Declarations ensure that health is propelled to the centre of national and regional development.
Fuchs and Straubhar contend that the most appropriate form of integration must be ...sensitive to the stage of development of national economies and the level of homogeneity of potential members. Regionalists must bear in mind ...the importance of simultaneously (by level of development and relative heterogeneity of members) determined optimal degree of integration;
Acknowledgements
Social Integration in the Caribbean Community, July 2008, Plummer Sandra, Deputy Programme Manager, Caribbean Community Secretariat (CARICOM) International Business 4e, Prentice Hall, 2008, Ch 14 http://www.cifalatlanta.org/workshops/commercial_diplomacy/04202005/presentations/CIFAL_CSME. ppt.htm http://www.caricom.org/jsp/communications/meetings_statements/nassau_declaration_on_health.jsp?me nu=communications International Cooperation and Regional CARICOM Integration, LIHP 2010 The Nassau Declaration http://www.caricom.org/jsp/communications/meetings_statements/nassau_declaration_on_health.jsp? menu=communications The 2001 Declaration of Commitment to the Pan Caribbean Partnership Against HIV/AIDS Provide supportive environment for the collaborative response to fighting HIV/AIDS http://www.caricom.org/jsp/secretariat/legal_instruments/caribbean_partnership_commitment.jsp
Contd
Report of the Caribbean Commission on Health and Development http://www.who.int/macrohealth/action/PAHO_Report.pdf, http://www.vision2020.info.tt/pdf/Policies%20and%20Procedures/Policy%20 Documents/Overview%20CCHD%20HOG.pdf Needhams Point Declaration http://www.caricom.org/jsp/pressreleases/pres167_07.jsp Declaration of Port of Spain Comprehensive and Integrated Approach to the Control of CNCD http://www.caricom.org/jsp/pressreleases/pres212_07.jsp http://www.caricom.org/jsp/community/chronic_non_communicable_diseases/summit_chronic_non_commu nicable_diseases_index.jsp
Mighty Kaiteur