One of the major aims of the CARICOM Single Market and Economy (CSME) is to stimulate economic growth and competitiveness by facilitating intra-regional commercial activity. An important project being executed by the CSME Unit of the CARICOM Secretariat will make this increasingly possible. On Monday, the Secretariat hosts a 2-day regional consultation in Trinidad and Tobago on the development of a framework policy on establishing a single jurisdiction within the CSME. Having a single jurisdiction means that once a company is registered in one Member State, it is deemed to be registered in all participating Member States in the CSME. This would save the company time and financial costs associated with the registration process.
Full Press Release here: CARICOM Making Cross-Border Business Easier
Chairman of the CARICOM Commission on the Economy, Barbados Senator Darcy Boyce says it does CARICOM Member States no good when concessionary funds are allowed to go to waste. Mr. Boyce who is a Minister in the Prime Minister’s Office was delivering the feature address on Friday at a CARICOM Regional Technical Meeting on the Implementation of the 10th European Development Fund (EDF) CSME and Economic Integration Programme. Senator Boyce said that CARICOM economies have struggled over the last ten years and there is a tremendous amount of work to be done to overcome such hurdles.
Head of the Delegation of the European Union (EU) to the Eastern Caribbean Countries, OECS and CARICOM/CARIFORUM, Ambassador Mikael Barfod said Friday was a difficult day to work out what the British exit from the European Union means and what effect it will have on the well-being of all the citizens of the European Union. He also stated that there could be some consequences for the Caribbean too, such as renegotiations of trade deals with the United Kingdom (UK). Ambassador Barfod noted that the UK is a major trading partner for many CARICOM Member States.
Full Press Release here: PR892016 - Cooperation and Integration still important – European Union Ambassador
(CARICOM Secretariat, Turkeyen, Greater Georgetown, Guyana) Caribbean Community (CARICOM) Deputy Secretary General Dr. Manorma Soeknandan is reminding CARICOM Member States of their responsibility for the 10th European Development Fund (EDF) CARICOM Single Market and Economy (CSME) Economic Integration Programme (EIP). This is a financing agreement signed with the European Union for over 28 million Euros of which approximately 19 million Euros is for implementing the CSME.
Dr. Soeknandan was speaking at the opening ceremony for the Regional Technical Meeting on the implementation of the Agreement. As of June this year, there was an implementation of 53% of the resources and the meeting was called to seek ways of increasing delivery.
Full Press Release: PR862016 - Increase Implementation of Financing Agreement
The CARICOM Deputy Secretary General says that if “CARICOM has challenges, hurdles…together putting our shoulders under those will only make us stronger…losing one is not the answer” She hopes that CARICOM will never have to deal with what the European Union is now undergoing. She opined that is another reason for the regional technical meeting to solve certain issues.
Full Press Release: PR8725016 - CARICOM should have ALL Members on board
The CARICOM Secretariat winds up its sensitization sessions for judges in competition law and policy this Friday, June 17 in Belize at the Radisson Fort George Hotel. Fourteen members of the judiciary will be participating in the activity which is funded under the 10th European Development Fund (EDF).These include judges from Belize’s Supreme Court, The Court of Appeal as well as registrars. This exercise forms part of a larger project to assist Member States with improving their regulatory, administrative and institutional arrangements related to the Caricom Single Market and the Economy, the CSME.
Full Press release here: Competition Sensitization for Judges Concludes in Belize