CARICOM Moving Towards Greater Harmonization
BY: Ainsley Brown
The Caribbean Community and Common Market (CARICOM) or as it is now known, CARICOM Single Market and Economy is moving towards greater harmonization.
The Single Markets’ members have either completed or are in the process of having their laws and administrative practices and procedures reviewed in order to facilitate the objectives of the Revised Treaty of Chaguaramas. That is to say: the free movement of goods, services, people, capital and the right of establishment in any other member state.
This is a very positive sign as the quicker the region moves toward harmonization the better it will be for the Community and its individual constituents. CARICOM as a unified block stands a much better chance of riding out the global recession and thriving in the new era of globalization as a collective than it does as individual states.
