Establishing the CARICOM Single Market and Economy (CSME)

  The decision in 1989 to establish the CARICOM Single Market and Economy (CSME) was a move to deepen the integration movement and to better respond to the challenges and opportunities presented by globalisation.

While a primary focus of the Common Market was on liberalising trade in goods among the Members, the Single Market and Economy not only expands this process to include services, but also provides for the free movement of capital (money), skilled labour, and the freedom to establish business enterprises anywhere in the Community. It also deepens economic cooperation among the Member States participating in the Single Market and Economy.

Of particular importance is the right that the CSME grants to any CARICOM national to establish a business in any Member State and be treated as a national of that state. This complements the opportunities which the CSME will provide for greater cooperation among businesses to improve and increase the quality and quantity of goods and services they produce and to do so at better prices.

A single market for goods already exists among the CARICOM member states, as more than 95 per cent of the goods produced in the Region move freely across the Region. Therefore, to complete the Single Market, the immediate focus of attention will be on the removal of restrictions on the right of establishment, the movement of services, capital and skilled labour. To complete the process, it will also be necessary to enact new laws, create the appropriate institutions and adopt the relevant administrative and other facilitating measures.

To read more about the Free Movement , please goto:
 
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