The Treaty establishing the Caribbean Community and Common Market (CARICOM) was signed by the Prime Ministers of Barbados, Guyana, Jamaica, and Trinidad and Tobago at Chaguaramas, Trinidad on July 4, 1973, and entered into force on August 1, 1973. Six less developed countries of the former Caribbean Free Trade Association (CARIFTA) Belize, Dominica, Grenada, St. Lucia, St. Vincent and the Grenadines, and Montserrat signed the Treaty of Chaguaramas on April 17, 1974. The Treaty came into effect for those countries on May 1, 1974. Antigua acceded to membership on July 4, 1974 and the Associated State of St. Kitts-Nevis-Anguilla on July 26, 1974. The Bahamas signed the Treaty on July 4, 1983, thus becoming the 13th member of the Caribbean Community but not a member of the Common Market. Suriname acceded to membership of the Caribbean Community and Common Market on July 4, 1995. Haiti acceded to membership of CARICOM on July 4, 2002.

The Community shall have the following objectives:

a) improved standards of living and work;

b) full employment of labour and other factors of production;

c) accelerated, co-ordinated and sustained economic development and convergence;

d) expansion of trade and economic relations with third States;

e) enhanced levels of international competitiveness;

f) organisation for increased production and productivity;

g) the achievement of a greater measure of economic leverage and effectiveness of Member States in dealing with third States, group of States and entities of any description;

h) enhanced co-ordination of Member States' foreign and [foreign] economic policies; and

i) enhanced functional co-operation, including:

• more efficient operation of common services and activities for the benefit of its peoples;
• accelerated promotion of greater understanding among its peoples and the advancement of their social, cultural and technological development;
• intensified activities in areas such as health, education, transportation, telecommunications.

The Caribbean Common Market provides for the establishment of a Common External Tariff (and common protective policy and the progressive coordination of external trade policies); the adoption of a Scheme for the Harmonization of Fiscal Incentives to Industry; double taxation arrangements among member countries; the coordination of economic policies and development planning; and a Special Regime for the Less Developed Countries of the Community.

The Revision of the Treaty of Chaguaramas, which now integrates nine Protocols, was completed in 2001. At its 22nd Meeting in July 2001, a number of Heads signed the Revised Treaty paving the way for the implementation of the new Treaty provisions. Technical work has already started to allow for the subsequent inclusion in the Treaty by way of additional Protocols of issues such as e-commerce, government procurement, trade in goods from free zones, free circulation of goods and the rights contingent on the free movement of persons.

COMPOSITION

15 member countries: Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, Trinidad and Tobago.

In July of 1991, the British Virgin Islands and the Turks and Caicos Islands were granted Associate Membership in the Caribbean Community.

In July of 1998, Anguilla was granted Associate Membership in the Caribbean Community.

STRUCTURE

The Conference of Heads of Government is the Supreme Organ of the Community. It consists of the Heads of Government of the member states and is the final authority of the Community. Its primary responsibility is to determine and to provide policy direction for the Community. It is the final authority for the conclusion of Treaties on behalf of the Community and for entering into relationships between the Community and International Organisations and States. The Conference is also responsible for making the financial arrangements to meet the expenses of the Community, but has delegated this function to the Community Council. Decisions of the Conference are generally taken unanimously.

The Bureau of the Conference came into operation in December 1992 following a decision taken by a Special Meeting of Heads of Government in October 1992. The responsibility of the Bureau is to: initiate proposals for development and approval by the Ministerial Councils it considers necessary; update the consensus of Member States on issues failing to be determined by the Conference; facilitate implementation of CARICOM decisions, both at the regional and local levels, in an expeditious and informed manner; provide guidance to the Secretariat on policy issues. The Bureau consists of the current Chairman of the Conference, as Chairman, as well as the immediately incoming and outgoing Chairmen of the conference, and the Secretary-General in the capacity of the Chief Executive Officer.

The Community Council of Ministers (The Council) is the second highest Organ. It consists of Ministers responsible for Community Affairs and any other Minister designated by Member States in their absolute discretion. It is responsible for the development of Community strategic planning and coordination in the areas of economic integration, functional cooperation and external relations.

The principal organs of the Community are assisted in the performance of their functions by the following councils:

The Council for Trade and Development (COTED) promotes trade and economic development of the Community and oversees the operations of the CARICOM Single Market and Economy;

The Council for Foreign and Community Relations (COFCOR) determines relations between the Community and International Organizations and third States;

The Council for Human and Social Development (COHSOD)promotes human and social development;

The Council for Finance and Planning (COFAP) coordinates economic policy and financial and monetary integration of Member States.

GENERAL PUBLICATIONS