Skip to main content icon/video/no-internet

The Caribbean Community, or Caricom, is a customs union comprised of 15 Caribbean countries. The member states of Caricom are Antigua, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Lucia, St. Kitts, St. Vincent, Suriname, and Trinidad and Tobago. Caricom was established under the Treaty of Chaguramas in 1973 and provides for free trade in goods between member countries and a common external tariff against non-member countries.

Caricom had its genesis in the failed British West Indies Federation that was established in the late 1950s and represented the first real attempt at Caribbean economic integration. The federation collapsed in 1962, but talks between political leaders in the region on the need to forge closer ties continued at a series of Heads of Government Conferences beginning in July 1963. In December 1965 the Agreement at Dickenson Bay, Antigua, was executed giving rise to the Caribbean Free Trade Association (CARIFTA). CARIFTA was designed to promote the balanced development of the region by promoting free trade and fair competition. CARIFTA, however, did not function as expected and was replaced by Caricom in 1973.

None

Fishermen in Haiti, where two-thirds of the population work in agriculture and 80 percent live beneath the poverty line. The country is one of the 15 members of the Caribbean Community working toward greater economic integration in the region.

The Treaty of Chaguramas that established the Caribbean Community and the Caribbean Common Market sets out the following objectives for the Community: (1) the economic integration of the member states by the establishment of a common market regime—referred to as the Common Market, this regime was designed to strengthen trade and economic relations between members, ensure the equitable distribution of the benefits of increased economic activity, and promote economic independence for member countries; (2) the coordination of the foreign policies of member states; and (3) functional cooperation between people of member states, including greater understanding in the cultural, technological, and social spheres. It should be noted that under the Treaty of Chaguramas the Caribbean Community and the Common Market are distinct legal entities. This institutional arrangement allowed countries to be members of the Community but not the Common Market.

Article 10 of the treaty provides for the establishment of a number of institutions to achieve the objectives set out above. These institutions include (1) the Conference of Ministers responsible for Health; (2) the Standing Committee of Ministers responsible for Education; (3) the Standing Committee of Ministers responsible for Labour; (4) the Standing Committee of Ministers responsible for Foreign Affairs; (5) the Standing Committee of Ministers responsible for Finance; and (6) the Standing Committee of Ministers responsible for Agriculture.

Each member state represented in an institution is entitled to one vote. Recommendations are made by a two-thirds majority that includes at least two of the more developed countries in the region. Recommendations are not, however, binding on member states. Under the terms of the treaty the administrative affairs of the Community are conducted by the Community Secretariat. The Secretariat is based in Georgetown, Guyana, and its duties include facilitating meetings of the Community and its institutions, initiating studies that relate to economic and functional cooperation issues, and undertaking follow-up actions based on decisions taken at meetings.

...

  • Loading...
locked icon

Sign in to access this content

Get a 30 day FREE TRIAL

  • Watch videos from a variety of sources bringing classroom topics to life
  • Read modern, diverse business cases
  • Explore hundreds of books and reference titles

Sage Recommends

We found other relevant content for you on other Sage platforms.

Loading