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Country Rankings - Caribbean Community (CARICOM)

  • Jun 06, 2013   Caribbean Community (CARICOM): integrating?

    For a long time it has seemed that CARICOM, the grouping of Caribbean states including such relatively large territories such as The Bahamas, Haiti and Jamaica as well as minnows like Montserrat, is nothing but a talking shop without the will or even the technical skills to achieve its stated goal of economic and political integration. But there have been some signs recently that it may be getting more serious. This week it signed a TIFA with the US, which will presumably act as a stimulus to some sort of local harmonization of standards, laws and taxes. Then, seven WTO members of sub-grouping the OECS (the Organization of Eastern Caribbean States) which could be said to have made better progress towards at least economic unification, with a shared currency and central bank, are to undergo a trade policy review by the WTO, which will doubtless be thoroughgoing and productive. These are good signs; but more generally, progress towards the CSME (Caribbean Single Market and Economy), which is the name given to CARICOM's intended shared economic space, has been fairly glacial. We will see, but I'm not holding my breath.
    Source: www.lowtax.net/asp/story/front/US_CARICOM_Sign_TIFA____60913.html


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