Caricom must turn CSME commitments into action

Discussion on Caricom’s Single Market and Economy (CSME) has once again been the focal point at the Sixteenth Meeting of the Prime Ministerial Sub-Committee on Tuesday – a meeting that was attended virtually by President Dr. Irfaan Ali and Foreign Affairs and International Cooperation Minister, Hugh Todd.
The Caricom Single Market and Economy (CSME) is viewed as the best way to promote economic integration and build economic resilience. It aims to create a single economic space, deepen intra-regional trade, and enhance the competitiveness of the private sector, leading to sustainable production, increased intra-regional trade, a wide scope of job opportunities, stronger economic growth, and sustainable economic development.
The CSME addresses issues of small market size by aggregating the markets of the Caribbean Community, allowing for better production and consumption of goods and services, free circulation of skills, and business establishment in any Member State.
But over the years, a lot of work has been done to fill the existing gaps, including the engagement of the Region’s Private Sector. However, citizens continue to demand better results from governments and policymakers.
It must be noted that the Community is actively working to implement the decision for the free movement of all Caricom nationals, but minor amendments were needed to Articles 45 and 46 of the Revised Treaty, which is under consideration by Heads of Government.
Efforts are also ongoing to review key trade instruments like the Common External Tariff (CET) and the Rules of Origin. Additionally, a draft policy for regulating mergers and acquisitions has been approved, with steps being taken to amend the Revised Treaty of Chaguaramas accordingly.
In fact, the CSME, conceived in 1989 and given various priority areas for focused attention over its existence, is intended to better position member states to grow by accessing and using their combined, rather than individual, resources. Its successful legal and institutional measures and mechanisms include transforming regional arrangements into domestic law.
Even though much is yet to be achieved, the successes of the CSME thus far cannot be underestimated. For instance, agreements were made to establish and operationalize various community institutions needed for the effective operation of the CSME. These include the Barbados-based Caricom Regional Organisation for Standards and Quality, the Caricom Competition Commission headquartered in Suriname, the Caricom Development Fund in Barbados, and the Trinidad and Tobago-based Implementation Agency for Crime and Security.
The Secretariat has also reported that work has advanced in shaping regional policies and strategies in the productive sectors to achieve increased production, competitiveness, and exports of goods and services. It said that in agriculture, the focus has been on addressing the constraints to reducing the Region’s high food import bill, increasing exports, and achieving food and nutrition security.
In the services sector, the Secretariat highlighted that strategic plans are being developed for professional, cultural, entertainment and sports, health and wellness, educational, financial, construction, tourism, and ICT services.
Additionally, under CSME provisions, Caricom nationals have a right to enter a member state and be given a stay of six months. Member states have also moved towards the use of common embarkation/disembarkation forms and the introduction of Caricom /non- Caricom lines at immigration points at ports of entry.
It should be noted, though, that while some member states have largely adhered to these general policies, some have had major difficulties in implementing them.
For instance, from time to time, citizens have complained bitterly that they were unfairly targeted at various ports of entry.
In spite of the progress, the challenges are many and require serious commitment and political will from leaders to surmount them. In fact, leaders had lamented the fact that some of the Caricom organs and bodies had failed to meet to consider critical aspects of the CSME, leaving many of the issues hanging.
They had said that items remain much too long on the agenda of the Councils.
In spite of the criticisms from regional stakeholders, we believe that there remains a high level of optimism for the regional integration movement, and a high level of interest in the goal of a CSME.
On this note, leaders must make every effort to ensure that the idea of the regional integration movement is kept alive and that it is responding appropriately and in a timely fashion to the challenges that arise from time to time.