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Montserrat continuing move towards CARICOM Single Market and Economy

Posted in: Regional News | 07 July 2015 | 2588

    Montserrat’s Premier Donaldson Romeo (Photo credit caribbean360)
    Montserrat’s Premier Donaldson Romeo (Photo credit caribbean360)

    BRIDGETOWN, Barbados, Tuesday July 7, 2015 – Montserrat is continuing to take steps towards the full implementation of the Revised Treaty of Chaguaramas that governs the CARICOM Single Market and Economy (CSME), the British Overseas Territory’s premier Donaldson Romeo has assured.

    He said the island is continuing its engagements to ensure the timely completion of the processes to this end.

    Romeo made the announcement during his first CARICOM Heads of Government conference which took place in Barbados July 2-4.

    “Regarding the Revised Treaty of Chaguaramas, we continue our exchanges with Her Majesty’s Government, and are preparing the required legislation to submit to the Legislative Assembly of Montserrat. The CARICOM Authority has granted timelines for completion of the processes and for the full implementation of the Revised Treaty,” he said.

    “We are very clear that our accession to the Caribbean Development Fund, which will assist our efforts to integrate, and the original court of the Caribbean Court of Justice (CCJ), which safeguards the rules of trade, are necessary pillars that will move Montserrat forward.”

    He added that CARICOM Secretary-General, Ambassador Irwin LaRocque, who visited Montserrat in April this year, had assured him that all courtesies and assistance would be granted as needed “to help Montserrat advance as a founding member of CARICOM, with the current new and revised arrangements of our Regional integration movement”.

    While Montserrat is a founding member of CARICOM, it has not yet acceded to the Revised Treaty which would open the door for participation in the CSME and the CCJ.

    CSME stands for CARICOM Single MARKET & Economy.

    The CSME Unit of the CARICOM Secretariat is the implementation office which assists the Member States in fulfilling the requirements of the Revised Treaty of Chaguaramas.

    Learn more