The issue regarding the slow pace of implementation of the Caricom Single Market and Economy (CSME) again took prominence at the 42nd annual meeting of Caricom leaders, where Caricom’s outgoing Secretary General, Irwin LaRocque himself admitted that “much more” could have been achieved.
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.
It is meant to be an integrated development strategy that is intended to benefit the people of the Region by providing more and better opportunities to produce and sell goods and services and to attract investments. It is built on five core regimes – free movement of capital, free movement of goods, free movement of skills, the provision of services, and the right of establishment.
It is well accepted that the rate of implementation of the CSME is not at the level where stakeholders would like it to be. In fact, some persons have claimed that they are yet to be directly touched by the benefits of the CSME. Hence, the Region’s private sector, and more importantly, citizens themselves, have in the past and continue to call for better results from Governments and policy-makers.
No other than the Caribbean Community Secretary General LaRocque has, over the years, said that while the regional grouping has significantly advanced the CSME, “we must do better”. He has always stressed the need for more work to be done to fill the existing gaps.
At Monday’s annual meeting, LaRocque, who has served 10 years as the Head of the Caricom Secretariat and who will be demitting office this month, said: “A lot of time and effort have been spent putting in place policies, programmes and systems for the Private Sector, labour and the overall population to benefit from the CSME.”
Even though much is yet to be achieved regarding the implementation of the CSME, its successes thus far cannot be underestimated. For instance, agreements were made to establish and operationalise 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.
From all indications, work has advanced in shaping regional policies and strategies in the productive sectors to achieve increased production, competitiveness, and exports of goods and services. 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, it was 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, 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.
Over the years, there has been quite a lot of talk about the CSME and its benefits; the time has come for action. Governments and policymakers must place greater focus on advancing the CSME so that citizens of the Region could enjoy its full benefits.
