Historic Step towards greater Regional Unity – Ceremonial Inauguration of the Caricom Single Market held

Historic Step towards greater Regional Unity Ceremonial Inauguration of the Caricom Single Market held An historic milestone was reached with the formal launch of the CARICOM Single Market (CSM) on Monday January 30, in Kingston, Jamaica. A new spirit of regional cooperation was ushered in at yesterday’s signing ceremony, which marked the signing of two declarations by the Heads of Government of CARICOM. Six of CARICOM Member States – Barbados, Belize, Guyana, Jamaica, Suriname and Trinidad and Tobago – signed a document entitled the “Declaration by Heads of Government of the Caribbean Community Marking the Coming into Being of the CARICOM Single Market.” These Member States entered into Single Market arrangements on January 1, 2006. Heads of Government of six other Member States, Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, Saint Lucia and St Vincent and the Grenadines signed a document entitled “Draft Declaration of Intent by Heads of Government of the Caribbean Community on the Participation of their Countries in the CARICOM Single Market.” These countries are expected to join the Single Market at a later date. With respect to the three remaining Member States, The Bahamas and Haiti have not signified their intention to participate in the CSME process and Montserrat – a British Dependency, is awaiting the necessary instrument of entrustment from the United Kingdom Government. CARICOM Secretary-General, His Excellency Edwin Carrington Chaired the proceedings yesterday, which featured statements by CARICOM Heads of Government, including: Chairman of the Conference of Heads of Government, the Honourable Patrick Manning, Prime Minister of Trinidad and Tobago; the Most Honourable P. J. Patterson, O.J, Prime Minister of Jamaica; the Rt. Honourable Owen S. Arthur, Prime Minister of Barbados and Head of Government with lead responsibility for the CARICOM Single Market and Economy (CSME); and, Dr. the Honourable Ralph Gonsalves, Prime Minister of St Vincent and the Grenadines. Jamaica’s Prime Minister Patterson said of the CSM that it will “enhance trade and economic relations with third States. It will promote our international competitiveness and enable the effective coordination of foreign and economic policies.” He noted further that the CSM would enable unprecedented market access for CARICOM goods and services, and that it would also facilitate a “marked expansion in our businesses large and small, traditional and non-traditional.” Prime Minister Patterson emphasized that “the Single Market and, ultimately, the Single Economy must be seen as building blocks towards developing greater trade and economic cooperation with our immediate neighbours in the Caribbean basin, our partners in the Hemisphere, and also to strengthen our arrangements with traditional partners in the European Union.”