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Caribbean and Pacific

CARICOM (Caribbean Community)


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In 1972, Commonwealth Caribbean leaders at the Seventh Heads of Government Conference decided to transform the Caribbean Free Trade Association (CARIFTA) into a Common Market and establish the Caribbean Community, of which the Common Market would be an integral part. The signing of the Treaty establishing the Caribbean Community, Chaguaramas, 4th July 1973, was a defining moment in the history of the Commonwealth Caribbean.

Although a free-trade area had been established, CARIFTA did not provide for the free movement of labour and capital, or the coordination of agricultural, industrial and foreign policies.

The objectives of the Community, identified in Article 6 of the Revised Treaty, are:

  • to improve standards of living and work;
  • the full employment of labour and other factors of production;
  • accelerated, coordinated and sustained economic development and convergence;
  • expansion of trade and economic relations with third States;
  • enhanced levels of international competitiveness;
  • organisation for increased production and productivity;
  • achievement of a greater measure of economic leverage and effectiveness of Member States in dealing with third States, groups of States and entities of any description and the enhanced co-ordination of Member States’ foreign and foreign economic policies and enhanced functional co-operation.


15 member states: Antigua & Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Lucia, St. Kitts & Nevis, St Vincent and Grenadines, Suriname and Trinidad & Tobago.


EC support to CARICOM

In the framework of the EU strategy for the Caribbean which lays down bilateral relations at the political, economic and developmental level for the lifetime of the Cotonou agreement and the Regional Strategy Paper and Regional Indicative Programme for the period 2003 – 2007 (9th EDF), a new contribution agreement has been signed at the end of April 2007 for a total €40.5 million including an statistical component of € 3.3 million. The main expected results are:


- To improve and harmonise production of statistical data at national and regional level
- To harmonise the intra-regional statistical infrastructure
- To improve the statistical programming, production and dissemination of key economic statistics
- To train staff and using economic statistics for monitoring of the regional integration process

Currently, CARICOM Secretariat is giving the first steps to start the implementation of this project by defining a detailed Annual Work Plan. Furthermore and in connection with the European Development Fund support, Eurostat agreed to collaborate closely with statisticians of the CARICOM Secretariat.

 

Within the EU strategy for the period 2009 2011 (10th EDF), a new contribution agreement has been signed containing € 62 million of which € 1.85 million for statistics. The main component is for Institutional Support - Follow-up and control of expenditure systems.

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Last update 14.01.2010