CARICOM
Single Market (CSM) ratified!
Rudolph Brown/Jamaica Gleanner
Prime Minister of Barbados Owen Arthur (left)
gives Prime Minister of St. Vincent and the Grenadines Ralph
Gonsalves (third left) a playful pat on the head while fellow
Heads of Government, Jamaica's Prime Minister P.J. Patterson
(third right); Surinamese President Ronald Venetiaan (second
right) and St. Lucia's Prime Minister Kenny Anthony (partially
hidden) look on during yesterday's ceremonial inauguaration
of the Caricom Single Market held at the University of the West
Indies (Mona) Visitor's Lodge. Also present is CARICOM Secretary
General Edwin Carrington (right).
The Jamaica Gleanner
Kingston
Petroleumworld.com 02 05 06
CARIBBEAN
HEADS of government yesterday took the historic step of formally
signing the document for implementation of the CARICOM Single
Market (CSM), a move towards greater regional unity.
Speaking
yesterday at the signing, held on the Mona campus of the University
of the West Indies, the leaders stressed the importance of the
moment which makes CARICOM only the second regional grouping in
the world, after the European Union, to form a single market.
LET'S
STAY TOGETHER
Borrowing
from the lyrics of Bob Marley's One Love CARICOM Secretary-General
Edwin Carrington insisted, "Let's get together and feel all
right, I say let's stay together and be all right."
Jamaica's
Prime Minister P.J. Patterson said the signing was a moment at
which Caribbean people "can take considerable pride"
and that the single market would make the region stronger in international
trade and negotiations and increase economic growth and employment.
Although
the CSM formally began on January 1 with six countries on board
including Jamaica, the six Organisation of Eastern Caribbean States
(OECS) are yet to sign.
Yesterday
they signed a declaration of intent to join the CSM by the end
of June.
FORMIDABLE
CHALLENGES
The
process which began with the CSM and its removal of barriers to
trade, goods, services and several categories of labour will conclude
with the implementation of the CARICOM Single Market and Economy
(CSME) by the end of (CSME) by the end of 2008. The CSME will
involve a single currency and the harmonisation of economic policy.
But
cautioned Mr. Patterson: "Formidable challenges still exist
as we move boldly forward in the pursuit of closer regional collaboration,
within a global economy that is admittedly hostile to the interests
of small island developing nations."
He
warned that incompleteness of membership and bureaucracy in key
economic areas, "... diminishes the attractiveness of the
region as an economic partner."
Speaking
for the OECS, Prime Minister of St. Vincent and Grenadines, Ralph
Gonsalves, said the sub-grouping had consistently supported regional
integration but as smaller countries needed more time to complete
the relevant legislation and for the CSM bureaucracy to be fully
operational.
"We
will not be coming to the rearguard but the vanguard," insisted
Mr. Gonsalves referring to the signing, scheduled for June 18
of the OECS' Economic Union Treaty, on the occasion of the sub-grouping's
25th anniversary to assist its joining of the CSM.
Countries
who joined on January 1:
Jamaica,
Barbados, Belize, Guyana, Suriname and Trinidad and Tobago.
Countries
to join by June 30:
Antigua
and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia
and St. Vincent and the Grenadines.
The Jamaica Gleanner
January 31, 2006
Copyright © 2006
The Jamaica Gleanner,
All rights reserved
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