CARICOM nationals in their consumption of goods and services contribute significantly to the region’s economic activities. In fact, on average, approximately two-thirds of economic activity (measured by national output) stem from household consumption.
The extent to which just under 15 million consumers are able to engage, with confidence, suppliers in their own jurisdiction as well as the rest of the region, will play an important role in shaping how well the regional market functions and meets the needs of the region.
The Revised Treaty of Chaguaramas in Part Two of Chapter Eight has played an important part in determining the rules of engagement and goes beyond the legal arrangements governing a number of other trade arrangements.
Over the past decade several initiatives have been taken by the CARICOM Secretariat to assist Member States in promoting the welfare of consumers and protecting their interest. One of the more recent is the development of a Rapid Alert System for Exchange of Information on dangerous non-food consumer goods (CARREX).