Caricom regimes not meeting anticipated compliance level
The Caricom Secretariat said the major deficiencies are with the Free Movement of Services and the Right of Establishment regimes.
GEORGETOWN, Guyana, Wednesday January 25, 2012 - The CARICOM Single Market and Economy (CSME) is operating at about 64 per cent compliance level, studies commissioned by the Caribbean Community (CARICOM) Secretariat have found.
The studies carried out over the last three years indicate that five core CSME regimes are not functioning at the anticipated level of effectiveness.
Free movement of goods has the best compliance grade at 80 per cent, while the free movement of services was at the bottom at 37 per cent.
The other regimes, the free movement of skills, the movement of capital and the right of establishment were at 66 per cent, 72 per cent and 64 per cent respectively.
“The major deficiencies are with respect to the Free Movement of Services and the regime on the Right of Establishment,” the Caricom Secretariat said.
“In addition, there is need for improvement with the regime for the Free Movement of Skills regarding the level of efficiency and effectiveness of administrative transactions between government authorities and CARICOM nationals.”
The CSME functions on the basis of a number of central legislation, institutional arrangements and administrative processes.
These legal, institutional and administrative measures form part of the foundation elements from which compliance is determined and measured.
The studies were facilitated through the CARICOM Trade and Competitiveness Project, which is an arrangement between Canada and the Community.
That project is designed to help create the capabilities within member States to deliver the rights conferred under CARICOM agreements and to further enhance the effectiveness of the CSME.