Page 28 - Caribbean-Central America Profile 2018

REGIONAL

CARIBBEAN-CENTRAL AMERICA PROFILE 2018

TRADING BLOCS

THE CENTRAL AMERICAN Guyana, Haiti, Jamaica, Montserrat, St. Kitts • To promote co-operation among the Member
COMMON MARKET (CACM) and Nevis, St. Lucia, St. Vincent and the States and to defend their sovereignty,
The General Treaty on Central American Grenadines, Suriname, Trinidad and Tobago. territorial integrity and independence.
Economic Integration was signed by El Associate Members: Anguilla, Bermuda, British • To assist the Member States in the realisation
Salvador, Guatemala, Honduras, and Nicaragua Virgin Islands, Cayman Islands, Turks and of their obligations and responsibilities to the
on December 13, 1960. They were later joined Caicos Islands. international community with due regard to
by Costa Rica, securing the participation of all the role of international law as a standard of
conduct in their relationships.
five countries in the treaty, which provides the The Caribbean Community was established • To establish and maintain wherever possible
in 1973 under the Treaty of Chaguaramas and
basis for the Central American Common Market. replaced the former Caribbean Free Trade arrangements for joint overseas representation
Trade and investment agreements currently and common services.
exist with Colombia, Mexico and Venezuela Association (CARIFTA). CARICOM’s primary • To promote economic integration among the
(G-3). Entities responsible for direction and mandate is to provide a framework for regional member states.
administration of the CACM include the Central political and economic integration among its • To pursue these by discussion of questions
fourteen Caribbean Member States. Recent
American Economic Council, the Executive efforts have focused on adopting measures to of common concern and by agreement on
Council, and SIECA. CACM countries have common action.
undertaken a series of efforts focused on make the region more competitive and increase The functions of the Organisation are
furthering the region’s integration process, access to new markets and trading blocs. accomplished through its principal institutions,
including the implementation of the Central which include The Authority (Heads of
American Common External Tariff (CET). THE ORGANISATION OF EASTERN Government), the Central Secretariat, and
In 1995 the members of the CACM agreed to CARIBBEAN STATES (OECS) Committees dealing with Foreign Affairs,
reduce the CET to 0 to15 percent, but allowed The Organisation of Eastern Caribbean States Defence and Security, Economic Affairs, and
each member country to determine the timing was established in July 1981, superseding the Legal Affairs. The OECS is dismantling trade
of changes. West Indies Associated States. Members include barriers among its members and working towards
Anguilla, Antigua and Barbuda, British Virgin the goal of becoming a Single Market. The group
CARICOM Islands, Dominica, Grenada, Montserrat, St. has adopted an export-led industrialisation
Members: Antigua & Barbuda, The Bahamas Kitts and Nevis, St. Lucia, St. Vincent and the strategy and has established joint diplomatic
(Member of the Community, not the Common Grenadines. The major role of the Organisation is: representation in London, Brussels and Ottawa,
Market), Barbados, Belize, Dominica, Grenada, and cooperative representation in Washington.

A-22 Caribbean-Central American Action