Professional Documents
Culture Documents
Membership and Principles What is the CSME? What are the benefits of the CSME? Progress towards the CSME Challenges of the CSME CSME and Trade CSME and Trade Negotiations SMEs and the CSME Trade Institutions of the CSME Trinidad and Tobagos Performance in the CSME
MDCs
Barbados Guyana Jamaica Suriname Trinidad and Tobago
The Bahamas???????
LDCs
Antigua and Barbuda Belize* Dominica Grenada Montseratt St Kitts and Nevis Saint Lucia St Vincent and the Grenadines
Haiti***
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Non discrimination
Signing of the Treaty of Chaguaramas (1973) marked the establishment of the CARICOM Community (CARICOM) In 1989, 13 of the now 15 members of CARICOM decided on an integrated development strategy to chart their way into the 21st century. This strategy, elaborated in the Grand Anse Declaration has as its key features:
Deepening economic integration by advancing beyond a common market towards a Single Market and Economy. Widening the membership and thereby expanding the economic mass of the Caribbean Community Progressive insertion of the region into the global trading and economic system by strengthening trading links with nontraditional partners
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Coordinated Institutions
Harmonized Rules and Procedures
Provision of Services
Movement of Skilled Persons Facilitation of Travel
Movement of Capital
Single (harmonized) currency and foreign exchange policies Coordinated Institutions Harmonized Rules and Procedures e.g Investment Policy Regional Development Fund
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ECONOMIC INTEGRATION
FUNCTIONAL COOPERATION
NATIONAL STRATEGIES
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Response to Globalization and liberalization To address limited opportunities and growth Recognition of changing rules of trade and there increasing importance of secured and predictable access to external markets. Avoidance of marginalisation
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Language differences
Cultural divergences Sense of security
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Electronic Commerce
Government Procurement
Free Zones
Free circulation of goods and services Contingent rights
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The goal of the Community Trade Policy shall be the sustained growth of intra-Community and international trade and mutually beneficial exchange of goods and services among the Member States and between the Community and third States. In fulfillment of the goal set out in Article 78 (1), one of the objectives to be pursued was the full integration of the national markets of all Member States of the Community into a single unified and open market area.
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Article 80 of the Revised Treaty of Chaguaramas provides that Member States shall coordinate their trade policies with third states or groups of third states and calls on the community to pursue the negotiation of external trade and economic agreements on a joint basis.
Thus, CARICOM negotiated as a single entity in the FTAA and is negotiating the EPAs with the European Union on a regional basis with the inclusion of the Dominican Republic with which CARICOM has a free trade agreement.
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WTO
Bilaterals
ACP/ EU
ACS
CSME
FTAA
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CBERA/CBTPA EPAs- CARIFORUM ( CARICOM + Dominican Republic)/EC CARIBCAN - CARICOM Countries / Canada CARICOM / Costa Rica Free Trade Agreement (2004)
operation (1994)
Enhances export markets and investment opportunities in the Region Mitigates the impact of trade liberalisation by offering the mechanism of regional blocs, and provides a practice match for firms to build capacity to face increased competition
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The CSME thus provides a platform from which the Region can speak with a common voice in crucial trade negotiations such as WTO and EPA Negotiations. Having one voice allows our concerns to be addressed by the wider international community Concerted action on the full implementation of the CSME helps us to be better able to shape positions in external negotiations and develop our trade policy capacity. We are then in a better position to negotiate with the rest of the world
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Increasing value of intra regional domestic exports for the CSME; Increasing value of intra regional domestic exports for the MDCs and LDCs; Significant proportion of the intra regional domestic exports for the MDCs .
7000 6000 5000 4000 3000 2000 1000 0 2002 2004 CARICOM MDCs LDCs
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Increasing value of intra regional imports for the CSME; Increasing value of intra regional imports for the MDCs and LDCs; Significant proportion of the intra regional imports for the MDCs .
7000 6000 5000 4000 3000 2000 1000 0 2002 2004 CARICOM MDCs LDCs
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6000 5000 4000 3000 2000 1000 0 2002 2003 2004 2005 Trinidad Barbados Guyana
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Increasing value of extra regional exports for the CSME; Increasing value of extra regional exports for the MDCs and LDCs; Significant proportion of the intra regional imports for the MDCs .
30000 25000 20000 15000 10000 5000 0 2002 2004 CARICOM MDCs LDCs
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Integral role in the regional development strategy; Important source of growth, innovation,. in the smaller economies; Provision of new opportunities for SMEs to grow
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An established and functioning integration system is an important asset in contemporary trade arrangements, especially in the context of small and vulnerable economies. The CSME must be seen as a vital platform for the regions trade and economic linkages with the rest of the world
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