What are the objectives of the Caribbean Community?
CARICOM’s main purposes are to promote economic integration and cooperation among its members, to ensure that the benefits of integration are equitably shared, and to coordinate foreign policy.
What is the purpose of the Caribbean Single Market and Economy?
The CARICOM Single Market and Economy is intended to benefit the people of the Region by providing more and better opportunities to produce and sell our goods and services and to attract investment. It will create one large market among the participating member states.
What was the purpose of the Treaty of Chaguaramas?
Objective. This Treaty provides inter alia, for integration of efforts in economic matters, co-ordination of foreign policies and functional cooperation in a list of areas including labour administration and industrial relations and social security among subscribing states.
What is the main reason for the origin of the Caribbean Community?
The establishment of the Caribbean Community and Common Market (CARICOM) was the result of a 15-year effort to fulfil the hope of regional integration which was born with the establishment of the British West Indies Federation in 1958.
What are the major challenges facing the Caribbean region?
The current international political and economic context has meant that Caribbean countries face a difficult situation today in diverse areas, ranging from the effects of natural disasters to a shortage of resources, complex access to financing, narrow fiscal space for introducing social reforms, and the burden of high …
What are the benefits of Caricom for Belize?
CARIFORUM-EU Economic Partnership Agreement (EPA)
- Poverty Reduction and Eradication through sustainable development.
- Promotion of Regional Integration, economic cooperation and good governance.
- Promote economic growth, increase investment and improve private sector capacity and competitiveness in CARIFORUM.
What are the functions of the Caribbean Community Secretariat?
provides, on request, technical assistance to national authorities to facilitate implementation of Community decisions; conducts, as mandated, fact-finding assignments in the Member States, and. initiates or develops proposals for consideration and decision by competent Organs in order to achieve Community.
What does Trinidad and Jamaica have in common?
Trinidad and Tobago has a high commission in Kingston and Jamaica has a high commission in Port of Spain. Both countries are members of CARICOM and Community of Latin American and Caribbean States.
What are three major economic problems facing Caribbean countries?
12 Challenges Facing Caribbean Small Island Developing States
- Climate change. For many years, it has been known that global sea levels are rising.
- Oil prices. A number of Caribbean countries extract precious minerals and fuel from nature for their economies.
- China.
- Poverty.
- Crime, drugs.
- Financial markets.
- Cuba.
- Digitalization.
What are the common services of CARICOM?
Its major activities involve coordinating economic policies and development planning; devising and instituting special projects for the less-developed countries within its jurisdiction; operating as a regional single market for many of its members (CARICOM Single Market); and handling regional trade disputes.
What is the main responsibility of the Common Market Council?
The Common Market Council of Ministers is comprised of a minister of government appointed by each respective member state. The council is responsible for the functioning of the Common Market and resolving any internal problems that may arise.