The global crisis and its impact on the Caribbean has apparently renewed the interest by CARICOM leaders on the CARICOM Single Market and Economy.
The CARICOM Secretariat in Georgetown says heads of government are set to meet in Barbados on Friday for the 5th Meeting of the Prime Ministerial Sub-Committee on the CSME.
The CSME provides for the free movement of people, goods, services and capital across the 15-nation grouping but so far only 12 member countries have signed on. Montserrat is still awaiting entrustment (approval) of the United Kingdom with regards to the Revised Treaty of Chaguaramas in order to participate while the Bahamas has declined to sign on so far even as its tourism sector continues to be affected by the economic slowdown in the U.S.
Haiti has not completed its accession to the Revised Treaty of Chaguaramas and is therefore not a participant in the Single Market and Economy.
The Single Market aspect of that initiative came into existence on January 1, 2006, while the Single Economy is expected to be established by 2015. But while many have signed on to the single market aspect, the free movement of nationals across many countries continues to still be an issue for some, with some media workers also affected by immigration rules of the countries in which they work but were not born.
CARICOM officials said a report will address the incidence of movement for those categories of persons already agreed by the Heads of Government and any problems that have arisen at the meeting on Friday. It will also provide a review of the schedule for free movement of community nationals, a statement said.
CARICOM leaders previously signalled that by the end of this year there should be full and free movement of labour within the CSME.
On the Single Economy and related challenges, the leaders are expected to consider the integration and harmonisation of monetary cooperation and fiscal policy and also discuss economic development trends and challenges.
Source: Caribworldnews.com
