CARICOM & CSME: Caribbean Cooperation

and Integration

A Presentation on Regional Unity and Economic Development

Presented by Sheneice Rose

 What is CARICOM?

• The Caribbean Community (CARICOM) was established in 1973 under

the Treaty of Chaguaramas (CARICOM, n.d.).
• Composed of 15 full member states and 5 associate members,
CARICOM works to promote regional cooperation across economic,
social, cultural, and political initiatives (CARICOM, n.d.).
• CARICOM focuses on building a stronger and more unified Caribbean
region.
 CARICOM Member States
• Full Members
1. Antigua and Barbuda • Associate Members:
2. Bahamas 1. Anguilla
3. Barbados
2. Bermuda
4. Belize
5. Dominica 3. British Virgin Islands
6. Grenada 4. Cayman Islands
7. Guyana 5. Turks and Caicos Islands
8. Haiti • (CARICOM, n.d.)
9. Jamaica
10.Montserrat
11.Saint Kitts and Nevis
12.Saint Lucia
13.Saint Vincent and the
Grenadines
14.Suriname
15.Trinidad and Tobago
 CARICOM’s Main Goals
1.Economic Integration: Promoting trade and cooperation to create a
unified market (Roberts, 2017).
2.Foreign Policy Coordination: Aligning foreign policies to strengthen
CARICOM’s voice globally (Roberts, 2017).
3.Social and Cultural Development: Promoting cultural exchanges and
improving education, health, and social development (Roberts, 2017).
4.Security: Enhancing regional security cooperation to address
common threats such as crime and natural disasters (Roberts, 2017).
 Challenges Faced by CARICOM

1.Different Political Goals: Each country has its own priorities, making
it hard to agree on common policies (e.g., Jamaica focuses on
tourism, while Trinidad focuses on oil and gas) (Clegg, 2019).
2.Economic Differences: Wealthier countries like Barbados may have
different needs than poorer nations like Haiti (Roberts, 2017).
3.Free Movement of People: Some countries worry about migration
and job competition, slowing down the full implementation of free
movement (Clegg, 2019).
 CARICOM’s Key Institutions

1.CARICOM Secretariat: Coordinates activities and implements policies,

headquartered in Georgetown, Guyana (CARICOM, n.d.).
2.Caribbean Court of Justice (CCJ): The region’s judicial body, which
settles disputes and serves as the final appellate court for some
nations (CARICOM, n.d.).
 Current Status of CARICOM

• Climate Change: Addressing environmental threats like hurricanes

and rising sea levels (CARICOM, n.d.).
• Economic Resilience: Working to diversify economies and reduce
reliance on tourism and agriculture (CARICOM, n.d.).
• Regional Security: Tackling crime, drug trafficking, and cybersecurity
threats through cooperation (CARICOM, n.d.).
 Caribbean Single Market and
Economy (CSME)
• What is CSME?
• Launched in 2006, the Caribbean Single Market and Economy (CSME)
is an initiative to create a unified economic space by removing
barriers to trade and investment (CARICOM, n.d.).
• CSME promotes the free movement of goods, services, people, and
capital among member states (CARICOM, n.d.).
 Key Features of CSME

1.Free Movement of Goods: Removing tariffs to encourage intra-

regional trade (Clegg, 2019).
2.Free Movement of Services: Enabling service providers to work
across borders (Clegg, 2019).
3.Free Movement of Capital: Allowing investment and money to flow
freely within the region (Clegg, 2019).
4.Free Movement of People: Skilled workers, including professionals,
teachers, and artists, can move freely between member states (Clegg,
2019).
 CSME Implementation Status

• Progress: Barbados, Jamaica, and Trinidad and Tobago have made

significant strides in implementing CSME (CARICOM, n.d.).
• Challenges: Some smaller economies face difficulties due to limited
resources. Progress is slower in areas like free movement of people
and capital (Clegg, 2019).
 CSME’s Challenges
• CSME’s Challenges
1.Economic Vulnerability
1. Small economies in the Caribbean are highly susceptible to external shocks, such as global
recessions, natural disasters, and pandemics.
2. Example: During the COVID-19 pandemic, the Bahamas, which relies heavily on tourism,
experienced drastic economic declines due to travel restrictions (Roberts, 2017).
2.Human Resource Development
1. There is a pressing need for increased investment in education and skills training to develop a
competitive workforce that meets the evolving demands of the job market.
2. Example: While some member states have initiated educational reforms, others struggle to provide
quality training programs, impacting workforce readiness.
3.Policy Disparities
1. Member states exhibit varying levels of commitment to CSME implementation, leading to
inconsistent progress and effectiveness across the region.
2. Example: Countries like Barbados and Trinidad and Tobago have made significant strides, while
smaller nations, such as St. Kitts and Nevis, may lag due to limited resources and political will
(Roberts, 2017).
 Recent Developments in CSME
Recent CSME Initiatives
1.Climate Resilience
1. CARICOM prioritizes strategies to enhance climate resilience, focusing on diversifying energy sources
and promoting sustainable industries.
2. Example: Investments in renewable energy projects, such as solar and wind farms, aim to reduce
reliance on fossil fuels and increase energy security (CARICOM, n.d.).
2.Digital Integration
1. CSME aims to improve digital infrastructure to facilitate greater online business activity, e-commerce,
and intra-regional trade.
2. Example: The development of regional e-commerce platforms and digital payment systems will
streamline cross-border transactions and boost economic competitiveness (CARICOM, n.d.).
3.New Trade Agreements
1. CARICOM is exploring partnerships with countries outside the Caribbean to strengthen economic ties
and enhance growth opportunities.
2. Example: Ongoing negotiations with countries in Latin America and the European Union aim to
establish favorable trade terms and investment opportunities (CARICOM, n.d.).
Jingle: CARICOM and CSME
• 🎵 (Verse 1)
CARICOM, our Caribbean Community,
Founded in nineteen seventy-three, you see!
CSME, that’s the Caribbean Single Market,
Bringing unity, let’s all embark it!
• 🎶 (Chorus)
CARICOM and CSME,
Together we thrive in harmony!
Regional cooperation is our key,
For a brighter future, come join with me!
• 🎵 (Verse 2)
CSME, launched in two thousand six,
Deepening our trade with seamless tricks.
Goods, services, and capital flow,
Free movement of labor helps us grow!
• 🎶 (Chorus)
CARICOM and CSME,
Together we thrive in harmony!
Economic integration’s our guiding light,
Creating a market that’s robust and bright!
• 🎵 (Bridge)
Full Names: CARICOM, Caribbean Community,
And CSME, Caribbean Single Market unity.
Challenges we face: disparities, commitment,
Infrastructure gaps and awareness—let’s prevent!
• 🎶 (Outro)
Current status: we tackle the plight,
Climate resilience and economic might.
Fostering cooperation, we’re on the rise,
CARICOM and CSME, reach for the skies! 🎶
 Breakdown of Included
Elements in the Jingle:
• Full Name (If an acronym is used): Clearly stated in the bridge.
• Year Established: Implied in the verses (1973 for CARICOM and 2006
for CSME).
• Function/Purpose: Described in the verses, differentiating CARICOM’s
focus on regional cooperation and CSME’s focus on economic
integration.
• Challenges Faced: Listed in the bridge (disparities, commitment,
infrastructure gaps, awareness).
• Current Status: Listed in the outro (climate resilience, economic
might, fostering cooperation).
• As of October 2023, both the Caribbean Community (CARICOM) and
the CARICOM Single Market and Economy (CSME) remain active
(CARICOM, 2023) (CSME, 2023).

• References
• CARICOM. (2023). About CARICOM. Retrieved from
[https://caricom.org]
• CSME. (2023). Mission and Objectives. Retrieved from
[https://caricom.org/csme]
 References

• CARICOM. (n.d.). About CARICOM. Retrieved from http://caricom.org

• Clegg, P. (2019). Regional Integration in the Caribbean: A Critical
Analysis. Caribbean Journal of International Relations, 5(1), 20-35.
• Roberts, P. (2017). Challenges of Economic Integration in the
Caribbean. Caribbean Studies Journal, 12(3), 45-60.
•The End