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The States Parties to the Treaty Establishing the Caribbean Community and Common
Market signed at Chaguaramas on 4 July 1973,
Recalling the Declaration of Grand Anse and other decisions of the Conference of
Heads of Government, in particular the commitment to deepening regional economic integration
through the establishment of the CARICOM Single Market and Economy (CSME) in order to achieve
sustained economic development based on international competitiveness, co-ordinated economic and
foreign policies, functional co-operation and enhanced trade and economic relations with third States;
Recognising that globalisation and liberalisation have important implications for
international competitiveness;
Determined to enhance the effectiveness of the decision-making and implementation
processes of the Community;
Desirous of restructuring the Organs and Institutions of the Caribbean Community
and Common Market and redefining their functional relationships so as to enhance the participation
of their peoples, and in particular the social partners, in the integration movement;
Conscious of the need to promote in the Community the highest level of efficiency
in the production of goods and services especially with a view to maximising foreign exchange
earnings on the basis of international competitiveness, attaining food security, achieving structural
diversification and improving the standard of living of their peoples;
Aware that optimal production by economic enterprises in the Community requires
the structured integration of production in the Region, and particularly, the unrestricted movement of
capital, labour and technology;
Resolved to establish conditions which would facilitate access by their nationals to
the collective resources of the Region on a non-discriminatory basis;
Convinced that market-driven industrial development in the production of goods and
services is essential for the economic and social development of the peoples of the Community;
Cognisant that a fully integrated and liberalised internal market will create favourable
conditions for sustained, market-led production of goods and services on an internationally competitive
basis;
Desirous further of establishing and maintaining a sound and stable macro-economic
environment that is conducive to investment, including cross-border investments, and the competitive
production of goods and services in the Community;
Believing that differences in resource endowment and in the levels of economic
development of Member States, may affect the implementation of the Community Industrial Policy;
Recognising also the potential of micro, small, and medium enterprise development
to contribute to the expansion and viability of national economies of the Community and the importance
of large enterprises for achieving economies of scale in the production process;

Date: 2023-04-10     hits: 494    Return