The Road Towards A CARICOM Single Market Economy

The CARICOM Single Market and Economy (CSME) is an ambitious economic integration initiative designed to create a unified market for the Caribbean Community (CARICOM). This visionary concept was first introduced in 1989 during the Tenth Meeting of the CARICOM Heads of Government. Fast forward thirty-five years, and while there have been some strides forward, the journey towards fully realizing this single market remains fraught with challenges. Countries like Belize, facing these persistent obstacles, are increasingly seeking trade partnerships beyond CARICOM. In response to these ongoing issues, a delegation from the CSME has arrived in Belize to hear these concerns firsthand and gather recommendations for improvement. News Five’s Paul Lopez brings us the latest on this developing story.

 

Paul Lopez, Reporting

A delegation from the CARICOM Single Market and Economy (CSME) has arrived in Belize for a pivotal three-day mission. Organized by the CARICOM Secretariat, this visit aims to bolster regional cooperation and advance the development of a dynamic CARICOM Single Market. Leading the charge is Titus Preville, the Director of the CARICOM Single Market, who is set to engage with local stakeholders and address key issues to drive this ambitious integration forward.

 

Leo Titus Preville, Director, CARICOM Single Market

“The Secretariat is adopting a listening mode. We will be adopting a listening mode, in listening to the stakeholders and haring from them, what are some of their concerns with the CSME, how is it working or not working for them.”

Today, the CARICOM Secretariat team met with members of the public, including young professionals, union members, local government representatives and students from tertiary institutions.

 

Thomas Serrut, Galen University Economics Major

“What peaks my interest is open markets. There are many different currencies spread out across the Caribbean, but if we want to establish something similar to the EU then perhaps we should look at introducing a single currency for the Caribbean and becoming more interconnected in our financial firms and economic opportunities for Belizeans and just free trade.”

 

Zanah Reyes, Galen University Marketing Major

“I think I learnt currently a lot from the free movement. I would love the opportunity to travel to all these different communities and see what they have to offer and come back after I have learnt to incorporate it in our country.”

 

Paul Lopez

“As a young Belizean which of these opportunities do you see is of most value to you?”

 

Jonathon Chiquin, UB Marketing Major

“Most definitely the free movement one. We have the opportunity to move anywhere in the CARICOM community which is Jamaica, Saint Kitts, Saint Nevis and Saint Lucia.”

 

The discussion sparked a lively debate, with numerous questions raised about the labor opportunities available within the single market, the pursuit of fair wages, and the various challenges encountered in the implementation of the CSME. Participants voiced their concerns and sought clarity on how these issues could be addressed to ensure a more equitable and efficient integration process.

 

Leo Titus Preville

“As I said before to people who are here, CSME is not an event. It is a continuous process. When you think of the CSME you are looking at the implementation of five core regimes in the CSME, free movement of goods, of persons, free movement of capital, the right to establish business and the rights to provide service. If you ask yourself, how has development been in any one of those five areas, you will see that we have made significant progress in those core areas.”

On Tuesday, the delegation made a significant stop at Quality Poultry in Spanish Lookout. This Belizean company has been grappling with formidable challenges in its quest to penetrate the CARICOM market. The visit highlighted the ongoing struggles not only for Quality Poultry but also for many other local products facing similar uphill battles. The question remains: how can these barriers be overcome to ensure fair access and opportunities within the single market?

 

Leo Titus Preville

“I would say the answer to your question lies in what the minister of agriculture to Belize indicated to us yesterday. His concern is that perhaps the issue is not whether everything is in place to allow for the trade. It is perhaps whether there is the political will at the member state level to facilitate what they have agreed to.

 

WE believe the answer for that is continued engagement, continuous dialogue, building confidents, establishing standards. Those are the things we need to do to cause us to move in the direction that the minister of agriculture for Belize would have pointed out yesterday in our engagement with him.”

 

Reporting for News Five, I am Paul Lopez.