CARICOM(Caribbean Community and Common Market)

Essay by dhararshUniversity, Bachelor'sA-, April 2006

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History: -

CARICOM was preceded by another organization, the British West Indies Federation, which was first formed in 1958.This organization failed to address trade issues, however, preferring to concentrate primarily on the politics of the region. This predecessor of CARICOM dissolved in 1962. Various movements toward unifying the Caribbean nations began to occur, however. The University of the West Indies, founded in 1948, was envisioned as serving the entire Caribbean and the Regional Shipping Services, the Caribbean Meteorological Service, and other movements began to draw the various countries and islands of the Caribbean into one unified region.

The independence of Jamaica and Trinidad & Tobago in August 1962 started the wheels turning for yet another effort at regional unity. This would be the Caribbean Free Trade Association (CARIFTA). CARIFTA was founded in 1965 and was concerned with the establishment of a free trade area in the region and with the development of a Caribbean common market.

The Caribbean Regional Secretariat was established in 1968. Its location, Georgetown Guyana, would eventually become the location of the CARICOM secretariat. One other organization would be established which would be particularly important as well, the Caribbean Development Bank established in Bridgetown, Barbados. The idea of CARICOM first started to be tossed around in the early 1970s. It was founded in 1973 with the July 4 signing of the Treaty of Chaguaramas. This treaty was initially signed by Barbados, Guyana, Jamaica, and Trinidad & Tobago. Eight other territories would soon follow and finally, on July 4, 1983, the Bahamas would become the thirteenth member. The primary focus of CARICOM, as opposed to the British West Indies Federation, is to strengthen trade in the region.

Goals & Objectives: -

The focus of CARICOM has recently expanded to include not only trade consideration but...