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Americas - Institutions
The establishment of
the Caribbean Community and Common Market (CARICOM) was the result of a
15-year effort to fulfill the hope of regional integration which was born
with the establishment of the British West Indies Federation in 1958.
Objectives: the economic integration of the Member States by the
establishment of a common market regime and the coordination of the foreign
policies of Member States.
The CARICOM Single Market and Economy (CSME). In the Grande Anse Declaration
and Work Programme for the Advancement of the Integration Movement, Heads of
Government expressed their determination to work toward establishing a 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. The main objectives of the
CSME are: full use of labour (full employment) and full exploitation of the
other factors of production (natural resources and capital); competitive
production leading to greater variety and quantity of products and services to
trade with other countries. It is expected that these objectives will in turn
provide improved standards of living and work and sustained economic
development.
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