Caribbean Community (CARICOM) is an organization of 15 Caribbean nations and dependencies. This organisation was established by the Treaty of Chaguaramas by the Prime Ministers of Barbados, Guyana, Jamaica, Trinidad and Tobago on 4th July, 1973 and was effected from 1st August 1973. Its major activities involve coordinating economic policies and development planning; devising and instituting special projects for the less-developed countries within its jurisdiction; operating as a regional single market for many of its members (Caricom Single Market); and handling regional trade disputes. The secretariat headquarters is based in Georgetown, Guyana.
Objectives of Caribbean Community (CARICOM)
(a) To improved standards of living and work;
(b) Full employment of labour and other factors of production;
(c) To accelerates, co-ordinated and sustained economic development and convergence;
(d) To expand of trade and economic relations with third States;
(e) To enhance the levels of international competitiveness;
(f) Organisation for increased production and productivity;
(g) The 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;
(h) To enhance co-ordination of Member States' foreign and [foreign] economic policies; and
(i) To enhance functional co-operation, including -
• more efficient operation of common services and activities for the benefit of its peoples;
• accelerated promotion of greater understanding among its peoples and the advancement of their social, cultural and technological development;
• Intensified activities in areas such as health, education, transportation, and telecommunications.
Important signing protocols of Caribbean Community (CARICOM)
With the signing of the two additional Protocols amending the Treaty of Chaguaramas in 1998, the Region moved closer to legalising the instruments to place the achievement of the CARICOM Single Market and Economy.
• The two Protocols signed covered the undermentioned Protocols to cover the amendment of the Treaty of 1994:
(a) Protocol III: Related with industrial policy to promote region’s economic and social development.
(b) Protocol V: Related with agricultural policy and regional natural resources.
• Three additional Protocols were signed during the Conference of Heads of Government of Caribbean States in 1999:
(a) Protocol IV: Related with trade policy.
(b) Protocol VI: Transport policy.
(c) Protocol VII: Concerned with disadvantaged countries.
• At the inter-sessional meeting of the Conference held at Basseterre, on 13-14th March, 2000, Heads of Government approved and signed the following Protocols:
(a) Protocol VIII: Competition Policy, Consumer Protection Subsides and Dumping.
(b) Protocol IX: Dispute Settlement.
• At the 20th meeting, Heads of Government of the Caribbean States approved establishment of the Caribbean Court of Justice.
The said meeting mandated the establishment of a Preparatory Committee comprising of Attorney Generals of Barbados, Guyana, Jamaica, St. Kits and Nevis, St. Lucia, and Trinidad and Tobago assisted by other officials to assist in the development implementation of programme of public education, within the Caribbean community and to make appropriate arrangements for the implementation of the Caribbean Court of Justice prior to the establishment of the CARICOM Single Market and Economy.
Agreement for Regional Justice Protection Programme was also approved which aims at establishing a framework for regional protection of witnesses, jurors, judicial and legal officers, law enforcement personnel and their associates.
• The first ED-Latin American and Caribbean Summit were held on 28-29th June, 1999 at Rio de Janeiro. It reached an agreement on a framework for co- operation between CARICOM and Spain same was signed.
Councils of Ministers to assist the principal organs of Caribbean Community (CARICOM)
(a) Council for Trade and Economic Development (COTED)
(b) Council for Foreign and Community Relations (COFCOR)
(c) Council for Human and Social Development (COHSOD)
(d) Council for Finance and Planning (COFAP)
Institutions of Caribbean Community (CARICOM)
• Caribbean Disaster Emergency Response Agency (CDERA)
• Caribbean Meteorological Institute (CM!)
• Caribbean Metrological Organisation (CMO)
• Caribbean Food Corporation (CFC)
• Caribbean Environmental Health Institute (CEHI)
• (0 Caribbean Agriculture Research and Development Institute (CARDI)
• Caribbean Regional Centre for Development Administration (CARCAD)
• Caribbean Food and Nutrition Institute (CFNI)
Associate Institutes of Caribbean Community (CARICOM)
• Caribbean Development Bank (CDB)
• University of Guyana (UG)
• University of the West Indies (UWI)
• Caribbean Law Institute (CLI)
• Caribbean Law Institute Centre (CLIC)