Treaty

In 1989, when the Heads of Government made the decision to transform the Common Market into a single market and economy in which factors move freely as a basis for internationally competitive production of goods and provision of services, it was also decided that for the transformation to take place, the Treaty would have to be revised.

In 1992, following the adoption of the report of the West Indian Commission, an Inter-governmental Task Force was established, to work on the revision of the Treaty.

The Treaty of Chaguaramas which established the Caribbean Community including the Caribbean Common Market was signed by Barbados, Guyana, Jamaica and Trinidad and Tobago on 4th July, 1973, in Chaguaramas, Trinidad and Tobago. It came into effect on 1 August 1973.

The Caribbean Community and the Caribbean Common Market replaced the Caribbean Free Trade Association which ceased to exist on 1st May 1974.