"The CARICOM Single Market and Economy (CSME) has for years been touted as the most critical pillar in Caribbean regional integration. Yet, for years, the implementation of the CSME stalled due to the absence of a common view as to its feasibility, the speed of its implementation, the institutional capacity, programming for public education and ultimately, its benefits. In this work, a special edition of the Integrationist, and put together by the UWI-CARICOM project, the CSME is explained in all its dimensions. The contents cover the background to the establishment of the CSME and perspectives on its implementation. The main provisions and expected benefits of the Single Market are also presented along with the strategic framework and efforts at resource mobilisation to make the CSME a reality. The importance of the Caribbean Court of Justice to the effective functioning of the CSME is also outlined. The book concludes with a call to the member states for a unity in both understanding and action in the pursuit of integration, not as choice, but rather as necessity. The work is complemented by the inclusion of several appendices notably the original 1989 Grand Anse Declaration, the 2005 PetroCaribe Agreement as well as an indicative plan of action by priorities and an outline of major technical assistance resource gaps. "

The Caribbean Single Market and Economy: Towards a Single Economic Space This publication offers essays that represent an attempt to satisfy the needs of laypersons busy with daily survival and progress issues, students, seeking to understand the nature of the evolution towards a CARICOM Single Market and Economy, academics, interested in the comments of their peers and politicians needing to improve the acuity with which they perceive the efforts of and prescribe actions for their individual countries. The Most Honourable Professor Sir Kenneth, former Governor-General of Jamaica, is a well known and respected Caribbean academic who utilised the skills of his profession to analyse the main factors leading to the success of the Caribbean Integration process. Professor Sir Kenneth joined his academic work to a passion for education and has held positions of Chairman of the Caribbean Examination Council(CXC), Pro Vice Chancellor and Principal, UWI, Chancellor, University College of the Caribbean and Deputy Secretary-General, Caribbean Community. He is currently a Distinguished Research Fellow of the University of the West Indies. Myrtle Veronica Chuck-A-Sang, M.A. has co-edited several publications with Professor Sir Kenneth Hall on a range of issues relating to Caribbean Regional integration and International Relations. She was the former Director of the UWI-CARICOM Institutional Relations Project, Caribbean Community Secretariat and is currently the Editor and Managing Director of the Integrationist, Editor of the Integration Quarterly and Company Secretary, Caribbean Fellowship Inc.

Deeper economic integration within the Caribbean has been a regional policy priority since the establishment of the Caribbean Community (CARICOM) and the decision to create the Caribbean Single Market and Economy (CSME). Implementation of integration initiatives has, however, been slow, despite the stated commitment of political leaders. The “implementation deficit” has led to skepticism about completing the CSME and controversy regarding its benefits. This paper analyzes how Caribbean integration has evolved, discusses the obstacles to progress, and explores the potential benefits from greater integration. It argues that further economic integration through liberalization of trade and labor mobility can generate significant macroeconomic benefits, but slow progress in completing the institutional arrangements has hindered implementation of the essential components of the CSME and progress in economic integration. Advancing institutional integration through harmonization and rationalization of key institutions and processes can reduce the fixed costs of institutions, providing the needed scale and boost to regional integration. Greater cooperation in several functional policy areas where the region is facing common challenges can also provide low-hanging fruit, creating momentum toward full integration as the Community continues to address the obstacles to full economic integration.

The current institutional arrangements which govern the Caribbean Single Market and Economy are fully realized based on attempts of preceding Caribbean economic integration. The first significant attempt was disastrous. With myopic dreams of unification, the West Indies Federation was formed in 1958 and consisted of 10 British West Indian territories, where Trinidad and Tobago, Jamaica, and Barbados were the principal members. Most of the Leeward and Windward islands, which were then under British control, were also apart of the federation. The seat of government was in Port of Spain, Trinidad who was then, slated for independence in 1962. Consequently, the federation saw little hopes of surviving its troubled infancy because it was an institution built on self interest, rather than symbiosis. Before Trinidad left, however, Jamaica, the most populous and prosperous member, voted (1961) to leave the federation, fearing that it would have to shoulder the burdens of the economically underdeveloped members. Trinidad and Tobago, inevitably, followed suit and the federation disintegrated in May, 1962. Further attempts date back 1968, with the establishment of the Caribbean Free Trade Area (CARIFTA) to serve the purpose of only removing the tariff and other barriers to intra regional trade in goods. This resulted in a reticent ten percent (10%) growth in intra- regional trade of the Caribbean economies. The integration process was later intensified through the Treaty if Chaguaramas which outlined directives to create a Common Market in the region. Added to the existing agenda of supporting liberalization on trade in goods, was the establishment of a common external tariff, intended to provide protection to regional industries. The 1973 treaty contained further provisions for the removal of restrictions in the establishment of businesses, provisions of services, the movement of capital and the coordination of economic policies. These stipulations barely made a difference to the volume of intra- regional trade which still lingered at 10% mark of total trade. It failed to catalyze new investments and though it intended to support regional import substitution, it miserably addressed evolving and pressing issues concerning international competitiveness and export penetration. In the following years the Caribbean economies, under the auspices of multilateral lending institutions, implemented structural adjustment programs that targeted of economic, financial and trade liberalization which surpassed their commitments as expressed by the treaty of Chaguaramas. By the end of the 1980's, through precipitating trading blocs and the inception of economic globalization, there was ubiquitous face-lifting of economies. This accommodated the working of free and private market forces to construct robust capital and other factor flows, and to endorse an export oriented growth and international competitiveness. Henceforth, at Grand Anse Grenada, 1989, Heads of Government, being properly convinced of the necessity to reinforce and extend the Caribbean Community in all of its dimensions, decided to convert the limited Common Market as conceived in 1973, into a Single Market and Economy in as short a time as possible.

Competition Law in the CARICOM Single Market and Economy provides a comprehensive introduction to and overview of this emerging area of law, discussing both the current context and potential directions for future development. The book provides an account of major topics in the law, including the economics of competition law; enterprise; enforcement; regulation; and obligations of member states. It traces the progression of the law from the 2006 Revised Treaty of Chaguaramas, charting the main developments such as the establishment of CARICOM Competition Commission (CCC), and examining the emerging case law in this important and fast-growing area. Offering the first major exploration of Caribbean Competition law, this text will be an essential resource for lawyers, businesspersons, and students of the law in the Caribbean.