CARICOM Single Market and Economy and Free Movement
The Community is actively working to implement the decision for the Free Movement of all CARICOM nationals. Progress includes a draft Protocol to amend Articles 45 and 46 of the Revised Treaty, which is under consideration by Heads of Government. Efforts are also ongoing to review key trade instruments like the Common External Tariff (CET) and the Rules of Origin. Additionally, a draft policy for regulating mergers and acquisitions has been approved, with steps being taken to amend the Revised Treaty of Chaguaramas accordingly.
CARICOM is ensuring supportive measures for companies and industries to promote fair competition within the Single Market and Economy. The CARICOM Development Fund (CDF) is leading the implementation of support measures under Article 164, focusing on industrial development in less developed CARICOM countries, and providing support to eligible firms.
CARICOM is ensuring supportive measures for companies and industries to promote fair competition within the Single Market and Economy. The CARICOM Development Fund (CDF) is leading the implementation of support measures under Article 164, focusing on industrial development in less developed CARICOM countries, and providing support to eligible firms.
Prime Minister of Barbados, Mia Mottley, Lead Head of Government in the CARICOM Quasi Cabinet on the CSME
The CARICOM Single Market and Economy (CSME) is viewed as the best way to promote economic integration and build economic resilience. It aims to create a single economic space, deepen intra-regional trade, and enhance the competitiveness of the private sector, leading to sustainable production, increased intra-regional trade, a wide scope of job opportunities, stronger economic growth, and sustainable economic development. The CSME addresses issues of small market size by aggregating the markets of the Caribbean Community, allowing for better production and consumption of goods and services, free circulation of skills, and business establishment in any Member State.
The CSME Involves:
1. Integration of five core Free Movement regimes for the creation of a single market and development of protocols for public procurement, free zones, free circulation, e-commerce, and contingent rights.
2. Macro-economic policy coordination and harmonisation to support competitive production.
3. Production integration and sector development in agriculture, manufacturing, and services.
Flyer on the launch of an E-Application for CSME Skilled Certificates in Trinidad and Tobago
The CSME involves:
(i) the integration of the five core Free Movement regimes for the creation of a single market as well as the protocols being developed under the built-in agenda (public procurement, free zones, free circulation, e-commerce and contingent rights (Article 239);
(ii) macro-economic policy coordination and harmonization supportive of competitive production; and
(iii) production integration and sector development – agriculture, manufacturing and services.
(i) the integration of the five core Free Movement regimes for the creation of a single market as well as the protocols being developed under the built-in agenda (public procurement, free zones, free circulation, e-commerce and contingent rights (Article 239);
(ii) macro-economic policy coordination and harmonization supportive of competitive production; and
(iii) production integration and sector development – agriculture, manufacturing and services.
Barbados's PM and other government officials preparing for the 18th Special Heads of Government Meeting on the CSME, December 2018
Prime Minister John Briceno participating in the 11th Meeting of the Prime Ministerial Sub-committee on the CSME to look closely at accelerating the region’s implementation of the CSME, June 2021
The full function of the CSME also necessitates strong competition law and policy, consumer protection, intellectual property rights, ICT, and transportation.
The CSME is governed by principles of non-discrimination based on nationality, Most-favoured-nation (MFN) treatment, and non-reciprocity.
The five core regimes of the Single Market are:
• Free Movement of Goods meeting the Rules of Community Origin without unauthorised barriers.
• Free Movement of Community nationals across twelve categories without work permits and visas.
• Right of Establishment for businesses by CARICOM nationals.
• Free Movement of Services by CARICOM non-wage earners/self-employed.
• Free Movement of Capital without exchange controls and with currency convertibility
The CSME is governed by principles of non-discrimination based on nationality, Most-favoured-nation (MFN) treatment, and non-reciprocity.
The five core regimes of the Single Market are:
• Free Movement of Goods meeting the Rules of Community Origin without unauthorised barriers.
• Free Movement of Community nationals across twelve categories without work permits and visas.
• Right of Establishment for businesses by CARICOM nationals.
• Free Movement of Services by CARICOM non-wage earners/self-employed.
• Free Movement of Capital without exchange controls and with currency convertibility