CSME

The original Treaty of Chaguaramas had prescribed that member states explore ways of harmonizing their monetary, exchange rate and payments policies in the interest of smooth functioning of the Common Market. Up to the late 1970s the various CARICOM countries established a compensation procedure to favour the use of the member states currencies. The procedure was aimed at ensuring monetary stability and promoting trade development.

n 2012 CARICOM launched an online consumer-protection warning system which allows 13 million consumers in 14 Member States to alert authorities on dangerous products which they detect in the market.

To ensure the practical effectiveness of the CSME, specific development interventions are required. In this context, a Contribution Arrangement was finalised in October 2007, between representatives of the Government of Canada and the Caribbean Community for the CARICOM Trade and Competitiveness Project (CTCP). Effective implementation of the Project started in May 2008 when the First Meeting of the Project Steering Committee (PSC) approved the Work Plan for 2008.

Project Mission

As negative stories and perceptions of the CARICOM Single Market abound, we are challenged to energize our people around the vision of a single market and to foster ownership of the mission to root and establish the CSME. How do we promote rights and opportunities to work, travel and do business across 13 Members States?; more importantly, how do we encourage CARICOM nationals to stand in the vanguard when those rights are threatened?