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Caribbean Free Trade Association

The Caribbean Free Trade Association (CARIFTA) was an english speaking economic trade organization. It organised on 1 May 1968, to provide a continued economic linkage between the English-speaking countries of the Caribbean. The agreements establishing it came following the dissolution of the West Indies Federation which lasted from 1958 to 1962.[3]

Caribbean Free Trade Association
1965/1968–1974
A map of CARIFTA Member States (red) and other Commonwealth Caribbean territories (pink) that were eligible for simplified accession to CARIFTA. CARIFTA comprised all of the Commonwealth Caribbean except the Bahamas, Turks and Caicos Islands, Cayman Islands, Bermuda, British Virgin Islands and Anguilla (de facto)
StatusInternational organisation
Seat of SecretariatGeorgetown, Guyana
Largest cityKingston, Jamaica
Official working
language
English
Official languages
of member states
English
TypeRegional organization, Free-trade area
Member states
Secretary General 
• 1968–1969
Frederick L. Cozier
• 1969–1974
William Demas
Establishment
Historical eraCold War
• Established
1 May 1968
• Disestablished
1 May 1974
Area
• Total
238,939.6 km2 (92,255.1 sq mi)
Population
• 1970 estimate
4,438,068 [1]
• Density
18.6/km2 (48.2/sq mi)
GDP (nominal)1972 estimate
• Total
$2,705 million[2]
• Per capita
$609
Currency
Preceded by
Succeeded by
Today part ofCaribbean Community

History edit

The origins of CARIFTA lay in a meeting on July 4, 1965, between the Prime Ministers of Barbados and British Guiana (Errol Barrow and Forbes Burnham respectively) to discuss the possibility of establishing a free trade area between the two territories, which at the time were moving towards independence from the United Kingdom. The discussions revolved around establish a free trade area between only those two countries initially and then extending it to the rest of the Caribbean when the other countries in the Commonwealth Caribbean were ready to join.[4]

These bilateral discussions between Barrow and Burnham were later expanded to include V. C. Bird of Antigua and the three leaders ultimately signed the initial CARIFTA Agreement (the Agreement of Dickenson Bay in Antigua) on December 15, 1965.[3][5] The original date envisioned for the Caribbean Free Trade Area to come into existence, according to the Dickenson Bay Agreement, was May 15, 1967. However, as a result of shuttle diplomacy engaged by Dr. Eric Williams, Prime Minister of Trinidad and Tobago, (through one of his ministers, Kamaluddin Mohammed) this was postponed as in order to allow Trinidad and Tobago to be included in the agreement and to generally make the agreement region-wide from the beginning.[5][4] Dr. Williams had for years been advocating the establishment of a Caribbean Economic Community and was now fearful that Barbados, Antigua and Guyana were planning to form a free trade area between themselves to the exclusion of Trinidad and Tobago.[5] The push to make the free trade area a region-initiative was successful and the issue was discussed at the fourth Conference of the Heads of Government of Commonwealth Caribbean Countries in Bridgetown, Barbados in October 1967. There it was resolved to introduce the free trade area by May 1, 1968, with the delegations of Montserrat and British Honduras (Belize) entering reservations to the conclusions of the resolution due to the constitutional status of their governments at the time.[6] As a result of this a supplementary agreement to the original Carifta Agreement was signed in Georgetown, Guyana on March 15, 1968, and in St John's, Antigua on March 18, 1968, with Carifta Day set for May 1, 1968.[5]

The new CARIFTA agreement came into effect on May 1, 1968, with the participation of Antigua, Barbados, Trinidad and Tobago and Guyana. The original idea to permit all territories in the region to participate in the Association was achieved a few months later with the entry of Dominica, Grenada, St. Kitts/Nevis/Anguilla, Saint Lucia and St. Vincent in July and of Jamaica and Montserrat on August 1, 1968. British Honduras (Belize) became a member in May 1971 [7] following its government's agreement to become a member of the Association (and had promised to take the necessary steps to become so) in February 1969 at a Commonwealth Caribbean Heads of Government Conference in Port-of-Spain, Trinidad and Tobago.[8]

Function and Internal Trade edit

The Caribbean Free Trade Association was created to improve relations between the various Caribbean islands. One of the reasons of the formation of the CARIFTA was to increase the quota and variety of goods able to be sold. Specifically, CARIFTA was intended to encourage balanced development of the Region by the following:

  • increasing trade - buying and selling more goods among the Member States
  • diversifying trade - expanding the variety of goods and services available for trade
  • liberalising trade - removing tariffs and quotas on goods produced and traded within the area
  • ensuring fair competition - setting up rules for all members to follow to protect the smaller enterprises

In addition to providing for free trade, the Agreement sought the following:

  • ensure that the benefits of free trade were equitably distributed
  • promote industrial development in the Less Developed Countries (LDCs)
  • promote the development of the coconut industry (through an Oils and Fats Agreement) which was significant in many of the LDCs
  • rationalise agricultural production but in the interim, facilitate the marketing of selected agricultural products of particular interest to the LDCs (through the Agricultural Marketing Protocol); and
  • provide a longer period to phase out customs duty on certain products which were more important for the revenue of the LDCs[3]

Although CARIFTA itself was limited to trade in goods, it freed approximately 90% of intra-regional trade in manufactured goods and instituted managed intra-regional trade in some agricultural products.[9] Between 1968 and 1973 the absolute trade, diversity of traded goods and the significance of intra-CARIFTA trade relative to external markets all increased notably. Intra-CARIFTA imports rose from EC$95 million in 1968 to EC$300 million in 1973. Whilst foodstuff and petroleum products accounted for the bulk of this trade, a range of new manufactured items (particularly from Jamaica and Trinidad & Tobago) began to be supplied for the first time. Diversification not only occurred in the types of goods sold but in the matrix of trade relationships with Jamaica's trade expanding away from the traditional markets of Belize and the northern Caribbean towards the southern and eastern Caribbean while Trinidad & Tobago's trade concurrently expanded from the traditional markets of Guyana and the Eastern Caribbean towards Jamaica, Belize and the northern Caribbean.[10] Additionally the LDCs, particularly Saint Lucia, Dominica and St. Vincent & the Grenadines benefitted from increase exports to the More Developed Countries (MDCs - Barbados, Guyana, Jamaica, and Trinidad & Tobago) of ground provisions (like sweet potatoes), copra and raw oils (such as coconut oil) under the Agricultural Marketing Protocol and the Oil and Fats Agreement (which was initially an Agreement among some regional states that pre-dated CARIFTA but was incorporated into CARIFTA as a Protocol and extended to all CARIFTA members in 1970) respectively.[11][12]

Overall for CARIFTA members intra-CARIFTA trade went from accounting for around 6% of total domestic exports in 1967 to constituting 9% of domestic exports in 1970 (total domestic imports from intra-CARIFTA trade remained general stable at around 5%), even as the share trade with more traditional markets fluctuated and generally declined:

Markets[2] Exports, 1967 (% of total exports)[2] Exports, 1971 (% of total exports)[2] Imports, 1967 (% of total imports)[2] Imports, 1971 (% of total imports)[2]
United Kingdom 20.9 16.0 20.2 18.7
United States 38.0 36.5 25.5 26.5
Canada 8.6 5.4 8.7 5.4
Latin America 2.7 3.1 20.0 8.1
European Economic Community 3.7 2.4 7.6 6.9
CARIFTA 6.4 9.2 4.9 4.5
Others 19.7 25.4 13.1 29.8

Broken down by the MDC and LDC designations, the MDC territories experienced 77% growth of intra-CARIFTA exports over four years[11] (with Jamaica's export trade expanding the most, growing by 46% in exports and 24% in imports for the period 1967–1969)[12] and the LDC territories saw 35% growth in intra-CARIFTA exports over the same period.[11]

By the time CARIFTA was officially wound up in mid-1974 both intra-CARIFTA imports and exports had risen more than four-fold compared to 1966, with intra-CARIFTA imports increasing from EC$89 million to EC$473 million (433% increase) and intra-CARIFTA exports increasing from EC$82 million in 1966 to EC$455 million in 1974 (a 457% increase). The equivalent statistics for total trade with all partners by contrast showed a three-fold increase with imports increasing from EC$1.862 billion in 1966 to EC$7.141 billion in 1974 (a 284% increase) and exports increasing from EC$1.4 billion to EC$6.3 billion (a 350% increase) over the same period. This indicates that CARIFTA was successful in creating trade rather than merely diverting trade with the Free Trade Area.[13]

Inter-Regional Settlements Agreement edit

On November 26, 1969 the central banks of Guyana, Jamaica, and Trinidad and Tobago jointly announced the institution of an Inter-Regional Settlements Agreement[14] (also known as the Intra-Regional Payments Scheme)[15] aimed at facilitating and reducing the cost of making payments from trade among CARIFTA states. The Agreement became operational on December 1, 1969 between those three countries; while the remaining CARIFTA states of Antigua and Barbuda, Barbados, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, and Montserrat were intended to join the scheme on January 19, 1970.[14] However, all of these states except Barbados did not actually join the scheme until February 1970 and Barbados itself joined in May 1972. Belize (having been renamed from British Honduras in 1973) joined in February 1976.[15]

This Inter-Regional Settlements Agreement expanded upon pre-existing arrangements between CARIFTA states for dealing with their regional currencies (exchanging their various currency notes and coins) by allowing for the purchasing and selling of regional currencies via bank transfers. This would enable the regional monetary authorities to facilitate regional commercial banks in concluding final settlements between themselves locally rather than having such payments done through London as was the practice up to that time. In turn this allowed commercial banks to offer better rates of exchange and settlement in the regional currencies to their customers. The new arrangement also allowed for the desired increase in international liquidity for the CARIFTA states be formally making CARIFTA currencies convertible within the CARIFTA Area. This was considered a necessity as the volume of intra-CARIFTA trade increased.[14]

However, under the Scheme the various CARIFTA central banks or monetary authorities effected settlements with each other individually, with each member extended an interest-free maximum credit line of £100,000 and outstanding net balances being settled quarterly by actual currency exchange (in Pounds Sterling). In 1974 the individual credit lines were increased to £500,000 (or approximately US$1.160 million) and in 1976, total credit in the arrangements was increased to US$40 million.[15]

The Settlements Agreement facilitated the flow of regional trade, conserved the region's international reserves, and encouraged the integration of the regional banking systems. The settlement on a quarterly basis significantly reduced the previously erratic changes in foreign exchange reserves of the participating member states caused by having to settle at least once a day in both directions prior to the scheme (to pay for imports and receive funds from exports).[15]

The Inter-Regional Settlements Agreement would continue past CARIFTA's transformation into CARICOM and eventually be replaced in April 1977 by the CARICOM Multilateral Clearing Facility and its concomitant traveller's cheques facility.[16] This transformation was due to the fact that though the Scheme worked satisfactorily, it was cumbersome due to the need of each of the 6 participating monetary authorities to keep individual accounts for all of the other participants and the growth of intra-regional trade requiring an increase in the volume of credit to be provided. Additionally, despite all countries extending credit on a bilateral basis, Trinidad and Tobago became the only net creditor within the Scheme.[15]

Membership edit

In 1965, on December 15, the CARIFTA was founded by 3 countries:[7]

The following countries joined the agreement:[7][3]

In the 1970s, around the time CARIFTA was being transformed into CARICOM the following countries were granted Liaison Status/Observer Status in the Association:[11][17]

Potential Members edit

The Bahamas edit

Although never a member of the Association itself, The Bahamas had begun involvement in the regional cooperation and integration initiative through participation in the Heads of Government Conferences of the Commonwealth Caribbean starting in 1966.[19] This participation was quite active with The Bahamas' Premier, Lynden Pindling, sharing experiences and offering suggestions with regards to the establishment and operation of a regional air carrier at the 1969 Conference,[8] and with The Bahamas (along with Belize which was not as yet a member of the Association) being invited to participate in the initial meeting (and in all future discussions) of the regional Ministers of Education in regards to the establishment of the Caribbean Examinations Council and the overall regional plan for cooperation in education at the 1970 Heads of Government Conference.[20] The Bahamas was also quite involved in the transformation of CARIFTA into the Caribbean Community, with the 1972 Conference (at which it was agreed to form the Caribbean Community) appointing a Committee of Attorneys-General of all CARIFTA member states and the Bahamas to review the legal implications of establishing the Community itself and to prepare a draft Treaty for creating the Community. The 1972 Conference also agreed to deepen fiscal, financial and monetary cooperation within the Commonwealth Caribbean and to that end established a Standing Committee of Ministers of Finance of CARIFTA member states and The Bahamas as a permanent institution for regional economic cooperation.[21] In April 1973, at the final meeting of the Commonwealth Caribbean Heads of Government before the establishment of the Caribbean Community, the Conference welcomed the upcoming independence of The Bahamas in July 1973 and looked forward to its participation in the Caribbean Community.[22]

The Netherlands Antilles and Surinam edit

While initially envisaged as being potential members of a Caribbean Economic Community by Trinidad & Tobago's Prime Minister, Dr. Eric Williams, when he first enunciated such a vision in January 1962, the talks between Trinidad & Tobago and Surinam (as it was then called until 1978 when it officially changed its name to Suriname) and the Netherlands Antilles in March 1962 were not successful.[23] These two Dutch Caribbean territories (at the time) were however also invited, prior to 1968, to become founding members of CARIFTA, but Surinam declined as it was uncertain as to the implications of joining and the Netherlands Antilles also declined out of caution against being the only non-Commonwealth member [24] Following CARIFTA's foundation however, Jamaica's Prime Minister, Hugh Shearer found on a tour of the Dutch Caribbean in August 1968, that the Minister-President of the Netherlands Antilles, Ciro Domenico Kroon and the Prime Minister of Suriname, Johan Adolf Pengel both expressed an interest in their respective territories joining CARIFTA in the future.[25]

Haiti and the Dominican Republic edit

In January 1970, at the fifth meeting of the CARIFTA Council, Trinidad and Tobago proposed that the Bahamas, Haiti and the Dominican Republic be admitted as members of CARIFTA. This proposal was generally positively received. The inclusion of those states would have expanded CARIFTA's market by 8.5 million people and increased the subscribed capital of the Caribbean Development Bank (which had been linked with the formation and operation of CARIFTA) by approximately US$17 million.[26] By 1971 however, Errol Barrow, Prime Minister of Barbados, saw no real advantage in including Haiti and the Dominican Republic (and Cuba) in CARIFTA unless a quota system was applied to their products as he considered their economies to be duplicate to those of the existing CARFITA states.[24]

The Dominican Republic first signaled its intention to join a regional economic bloc at the a Summit of American leaders in Uruguay in April 1967 when it signed the Declaration of the Presidents of America. This Declaration outlined the aim for the creation of Latin American Common Market through the vehicles of the Latin American Free Trade Association (LAFTA) and Central American Common Market (CACM). Subsequently, the Dominican Republic looked into both LAFTA and the CACM, before pursuing discussions on joining CARIFTA in 1970.[26][27] However the discussions did not result in Dominican membership before CARIFTA was ended in favour of forming CARICOM in 1973–1974.

Other States edit

At the 1972 Conference of Commonwealth Caribbean Heads of Government, consideration was given to widening CARIFTA but the immediate priority was agreed to be to improve the position of the less developed territories in the Association and to study the possibilities of including all the Caribbean islands and Suriname in the integration movement.[21]

Organization edit

While the original 1965 CARIFTA Agreement was mostly modelled on the 1960 European Free Trade Association Agreement, and the subsequent 1967 Agreement was suitably modified to reflect membership encompassing most of the Commonwealth Caribbean,[28] the Association itself was governed more like the European Economic Community (EEC) with a mix of formal institutions set up by the Agreement and informal institutions outside the scope of the Agreement although like EFTA, the formal institutions prescribed in the CARIFTA Agreement were simple and flexible.[28]

Heads of Government Conference edit

Similarly to the European Council the regional Heads of Government Conference started off as an informal summit of leaders and later as an independent, formal summit of leaders that was still informal with regards to the regional integration organization over which it had some amount of direction.[12] Unlike the European Council with regards to the EEC however, the regional Heads of Government Conference pre-dates CARIFTA (and then CARICOM), having first convened in 1963 in Port-of-Spain, Trinidad & Tobago. Having expanded its membership from just the independent Commonwealth Caribbean states in 1963 to including all of the non-independent territories in 1967, it was the Heads of Government Conference at its fourth sitting in October 1967 in Bridgetown, Barbados[12] that modified the Dickenson Bay Agreement so as to ensure the broadest possible membership, set 1 May 1968 as day CARIFTA was supposed to become operation and set forth a Resolution on Regional Integration which was incorporated as an integral part of the CARIFTA Agreement as Annex A.[28]

In regards to the CARIFTA and the wider regional integration movement, the Heads of Government Conference was the ultimate body which gave direction to the regional integration, established committees and working parties to examine certain issues pertaining to regional integration, approved the budget of the Commonwealth Caribbean Regional Secretariat, and informally was needed to expressly approve any new major initiatives of the formal CARIFTA institutions.[12]

The Heads of Government Conference would be formalized as an Organ of CARIFTA's successor organization, CARICOM, with the Original Treaty of Chaguaramas of July 1973.

Council edit

The CARIFTA Council is analogous to the EFTA Council of Ministers, and was set up under Article 28 of the CARIFTA Agreement with each member territory being represented on the council and having one vote. Council decisions and recommendations were made by unanimous vote, except where the Agreement provides otherwise, in which case it could act by a majority vote consisting of two-thirds of the member territories.[12][28]

Besides administering the CARIFTA Agreement, the council was also empowered to settle disputes arising from the CARIFTA Agreement (whether between member territories for originating from within a member territory) and thus it also acted as tribunal when necessary. In that way it could authorize any member territory to take interim safe-guard measures and suspend its obligations towards another member territory if the second member territory was determined by the Council not to be fulfilling its obligations stemming from the CARIFTA Agreement.[12][28]

Commonwealth Caribbean Regional Secretariat edit

The Commonwealth Caribbean Regional Secretariat was the principal administrative organ of the Association, being established under Article 28 (3) of the Agreement, and it could be entrusted by the council with such functions or delegated authority as the Council considered necessary to assist it in accomplishing its tasks. The role of the Secretariat was to service both the Heads of Government Conference and the council, ensuring implementation of resolutions and decisions and to make studies concerning trade expansion or as assigned to it by the Conference or the council and make recommendations on matters within its competence.[12][28]

The Secretariat itself was divided into two Divisions. The first was the Trade and Integration Division which supervised the workings of the CARIFTA Agreement including collecting, collating and analyzing regional statistics and economic data as well as improving customs procedures and training customs personnel. The second was the General Services and Administrative Division which held responsibility for the general administration of the Secretariat and the non-economic aspects of regional integration such as education, health, meteorology, shipping and so on.[12]

Transformation and legacy edit

In 1973, CARIFTA became superseded by the Caribbean Community (CARICOM) following a decision, at the Seventh Heads of Government Conference in October 1972, to transform CARIFTA into a Common Market and establish the Caribbean Community of which the Common Market would be an integral part.[7] At the Eighth Heads of Government Conference in April 1973, the Georgetown Accord was adopted, which set out the details of how CARIFTA was to be replaced by CARICOM.[29] The Treaty of Chaguaramas declared that CARIFTA would cease to exist on 1 May 1974 when the remaining CARIFTA members all acceded to CARICOM. In fact, there was essentially a transitional period between 1 August 1973 when the More Developed Countries (MDCs) of Barbados, Guyana, Jamaica, and Trinidad & Tobago acceded to CARICOM and 26 July 1974 when Saint Kitts & Nevis acceded to CARICOM, during which both CARIFTA and CARICOM were legally in existence and operative and thus CARIFTA wasn't fully superseded until 26 July 1974.[30] In conjunction with their accession to CARICOM, the various CARIFTA states gave notices of withdrawal from CARIFTA which brought about the legal termination of CARIFTA's provisions within their jurisdictions and ultimately the complete legal dissolution of CARIFTA itself.[31] Thus the dates of withdrawal from CARIFTA are as follows:

  • 30 April 1974 - Barbados, Guyana, Jamaica, and Trinidad & Tobago
  • October 1974 - Belize, Dominica, Grenada, Saint Kitts-Nevis-Anguilla, Saint Lucia, and Saint Vincent & the Grenadines
  • January 1975 - Montserrat[32][30]
  • July 1975 - Antigua & Barbuda[30]

The regional co-operation under the CARIFTA agreement also led to the foundation of several common institutions. The Commonwealth Caribbean Regional Secretariat was set up in Georgetown (Guyana) and the Caribbean Development Bank was established in Bridgetown, Barbados.[33]

One of the legacies of CARIFTA is an international youth athletics event for junior athletes from the member states started in 1972 by the association and inaugurated (and thought up) by Austin Sealy (then president of the Amateur Athletic Association of Barbados) to mark the transition from CARIFTA to CARICOM called the CARIFTA Games. In 1985, a similar set of games, The CARIFTA Aquatics Championships, started.

See also edit

References edit

  1. ^ Population of CARICOM territories 1960–2001
  2. ^ a b c d e f United Nations Economic Commission for Latin America: CARIFTA Countries Overview of Economic Activity 1972
  3. ^ a b c d . Archived from the original on 2008-09-16. Retrieved 2008-12-28.
  4. ^ a b (PDF). Archived from the original (PDF) on 2013-10-21. Retrieved 2012-09-14.
  5. ^ a b c d Kamal, A True Caribbean Man
  6. ^ 4th Conference of Heads of Government of Commonwealth Caribbean Countries, 23-27 October 1967, Bridgetown, Barbados March 19, 2015, at the Wayback Machine
  7. ^ a b c d History of the Caribbean Community October 21, 2012, at the Wayback Machine
  8. ^ a b 5th Conference of Heads of Government of Commonwealth Caribbean Countries, 3-5 February 1969, Port-of-Spain, Trinidad and Tobago April 13, 2015, at the Wayback Machine
  9. ^ (PDF). Archived from the original (PDF) on 2014-03-25. Retrieved 2012-09-14.
  10. ^ United Nations Economic Commission for Latin America: CARIFTA Developments in 1973
  11. ^ a b c d CARIFTA and Caribbean Trade: An Overview
  12. ^ a b c d e f g h i Caribbean Free Trade Association (1971). CARIFTA and the New Caribbean. Commonwealth Caribbean Regional Secretariat. p. 143.
  13. ^ United Nations Economic Commission for Latin America - Evaluation of the integration movement (CARIFTA to CARICOM)
  14. ^ a b c Financial Arrangements between Central Banks in the Caribbean
  15. ^ a b c d e The CMCF and CARICOM Trade
  16. ^ The Financial Evolution of the Caribbean Community 1970-1996
  17. ^ (PDF). Archived from the original (PDF) on 2014-08-13. Retrieved 2012-09-14.
  18. ^ United Nations Economic Commission for Latin America: Fourteenth CARIFTA Council
  19. ^ De Lombaerde, Philippe (2008). Governing Regional Integration for Development: Monitoring Experiences, Methods and Prospects. Ashgate Publishing, Ltd. p. 34. ISBN 978-140-94-9871-1.
  20. ^ 6th Meeting of Heads of Government of Commonwealth Caribbean Countries, 13-17 April 1970, Kingston, Jamaica March 19, 2015, at the Wayback Machine
  21. ^ a b 7th Meeting of Heads of Government of Commonwealth Caribbean Countries, 9-14 October, 1972, Chaguaramas, Trinidad and Tobago 2015-03-19 at the Wayback Machine
  22. ^ 8th Meeting of Heads of Government of Commonwealth Caribbean Countries, 9-12 April 1973, Georgetown, Guyana March 19, 2015, at the Wayback Machine
  23. ^ Payne, Anthony (1980). The Politics of the Caribbean Community, 1961-79. Manchester University Press. p. 299. ISBN 978-071-90-0793-4.
  24. ^ a b Perusse, Roland (1971). A Strategy for Caribbean Economic Integration. North-South Press. p. 212.
  25. ^ Ministry Papers of Jamaica: Visit of the Prime Minister to the Netherlands Antilles, Surinam, Guyana and Trinidad and Tobago from August 14 - August 25, 1968
  26. ^ a b Andic, Fuat (2010). A Theory of Economic Integration for Developing Countries: Illustrated by Caribbean Countries. Routledge. p. 176. ISBN 978-113-68-7858-9.
  27. ^ Information Services on Latin America (ISLA), Volume 19. Information Services on Latin America. 1970.
  28. ^ a b c d e f Caribbean Free Trade Association - R.L. Abbott
  29. ^ . Archived from the original on 2016-10-03. Retrieved 2016-10-03.
  30. ^ a b c Ramcharan, B.G. (1989). Ramcharan Caribbean Law. Springer Netherlands. p. 468. ISBN 978-079-23-0408-1.
  31. ^ Latin American Economic Integration: Public Statement by the CARIFTA Council of Ministers on the legal aspects of the transition from CARIFTA to CARICOM
  32. ^ United Nations Economic Commission for Latin America: Widening of the Caribbean Integration Process
  33. ^ Economic Integration in the Caribbean: The development towards a common labour market

External links edit

  • Dunker, Jörg (2002). Regionale Integration im System des liberalisierten Welthandels. EG und NAFTA im Vergleich. Frankfurt/Main: Peter Lang. ISBN 3-631-37941-2. P. 57.

caribbean, free, trade, association, carifta, english, speaking, economic, trade, organization, organised, 1968, provide, continued, economic, linkage, between, english, speaking, countries, caribbean, agreements, establishing, came, following, dissolution, we. The Caribbean Free Trade Association CARIFTA was an english speaking economic trade organization It organised on 1 May 1968 to provide a continued economic linkage between the English speaking countries of the Caribbean The agreements establishing it came following the dissolution of the West Indies Federation which lasted from 1958 to 1962 3 Caribbean Free Trade Association1965 1968 1974A map of CARIFTA Member States red and other Commonwealth Caribbean territories pink that were eligible for simplified accession to CARIFTA CARIFTA comprised all of the Commonwealth Caribbean except the Bahamas Turks and Caicos Islands Cayman Islands Bermuda British Virgin Islands and Anguilla de facto StatusInternational organisationSeat of SecretariatGeorgetown GuyanaLargest cityKingston JamaicaOfficial workinglanguageEnglishOfficial languagesof member statesEnglishTypeRegional organization Free trade areaMember states12 full members Antigua and Barbuda Barbados British HondurasDominicaGrenada Guyana Jamaica Montserrat Saint Christopher Nevis AnguillaSaint LuciaSaint Vincent and the Grenadines Trinidad and TobagoSecretary General 1968 1969Frederick L Cozier 1969 1974William DemasEstablishmentHistorical eraCold War Established1 May 1968 Disestablished1 May 1974Area Total238 939 6 km2 92 255 1 sq mi Population 1970 estimate4 438 068 1 Density18 6 km2 48 2 sq mi GDP nominal 1972 estimate Total 2 705 million 2 Per capita 609CurrencyBarbadian dollar BBD Belize dollar BZD Eastern Caribbean dollar XCD Guyanese dollar GYD Jamaican dollar JMD Trinidad and Tobago dollar TTD Preceded by Succeeded byWest Indies Federation Caribbean CommunityToday part ofCaribbean Community Contents 1 History 2 Function and Internal Trade 2 1 Inter Regional Settlements Agreement 3 Membership 3 1 Potential Members 3 1 1 The Bahamas 3 1 2 The Netherlands Antilles and Surinam 3 1 3 Haiti and the Dominican Republic 3 1 4 Other States 4 Organization 4 1 Heads of Government Conference 4 2 Council 4 3 Commonwealth Caribbean Regional Secretariat 5 Transformation and legacy 6 See also 7 References 8 External linksHistory editThe origins of CARIFTA lay in a meeting on July 4 1965 between the Prime Ministers of Barbados and British Guiana Errol Barrow and Forbes Burnham respectively to discuss the possibility of establishing a free trade area between the two territories which at the time were moving towards independence from the United Kingdom The discussions revolved around establish a free trade area between only those two countries initially and then extending it to the rest of the Caribbean when the other countries in the Commonwealth Caribbean were ready to join 4 These bilateral discussions between Barrow and Burnham were later expanded to include V C Bird of Antigua and the three leaders ultimately signed the initial CARIFTA Agreement the Agreement of Dickenson Bay in Antigua on December 15 1965 3 5 The original date envisioned for the Caribbean Free Trade Area to come into existence according to the Dickenson Bay Agreement was May 15 1967 However as a result of shuttle diplomacy engaged by Dr Eric Williams Prime Minister of Trinidad and Tobago through one of his ministers Kamaluddin Mohammed this was postponed as in order to allow Trinidad and Tobago to be included in the agreement and to generally make the agreement region wide from the beginning 5 4 Dr Williams had for years been advocating the establishment of a Caribbean Economic Community and was now fearful that Barbados Antigua and Guyana were planning to form a free trade area between themselves to the exclusion of Trinidad and Tobago 5 The push to make the free trade area a region initiative was successful and the issue was discussed at the fourth Conference of the Heads of Government of Commonwealth Caribbean Countries in Bridgetown Barbados in October 1967 There it was resolved to introduce the free trade area by May 1 1968 with the delegations of Montserrat and British Honduras Belize entering reservations to the conclusions of the resolution due to the constitutional status of their governments at the time 6 As a result of this a supplementary agreement to the original Carifta Agreement was signed in Georgetown Guyana on March 15 1968 and in St John s Antigua on March 18 1968 with Carifta Day set for May 1 1968 5 The new CARIFTA agreement came into effect on May 1 1968 with the participation of Antigua Barbados Trinidad and Tobago and Guyana The original idea to permit all territories in the region to participate in the Association was achieved a few months later with the entry of Dominica Grenada St Kitts Nevis Anguilla Saint Lucia and St Vincent in July and of Jamaica and Montserrat on August 1 1968 British Honduras Belize became a member in May 1971 7 following its government s agreement to become a member of the Association and had promised to take the necessary steps to become so in February 1969 at a Commonwealth Caribbean Heads of Government Conference in Port of Spain Trinidad and Tobago 8 Function and Internal Trade editThe Caribbean Free Trade Association was created to improve relations between the various Caribbean islands One of the reasons of the formation of the CARIFTA was to increase the quota and variety of goods able to be sold Specifically CARIFTA was intended to encourage balanced development of the Region by the following increasing trade buying and selling more goods among the Member States diversifying trade expanding the variety of goods and services available for trade liberalising trade removing tariffs and quotas on goods produced and traded within the area ensuring fair competition setting up rules for all members to follow to protect the smaller enterprisesIn addition to providing for free trade the Agreement sought the following ensure that the benefits of free trade were equitably distributed promote industrial development in the Less Developed Countries LDCs promote the development of the coconut industry through an Oils and Fats Agreement which was significant in many of the LDCs rationalise agricultural production but in the interim facilitate the marketing of selected agricultural products of particular interest to the LDCs through the Agricultural Marketing Protocol and provide a longer period to phase out customs duty on certain products which were more important for the revenue of the LDCs 3 Although CARIFTA itself was limited to trade in goods it freed approximately 90 of intra regional trade in manufactured goods and instituted managed intra regional trade in some agricultural products 9 Between 1968 and 1973 the absolute trade diversity of traded goods and the significance of intra CARIFTA trade relative to external markets all increased notably Intra CARIFTA imports rose from EC 95 million in 1968 to EC 300 million in 1973 Whilst foodstuff and petroleum products accounted for the bulk of this trade a range of new manufactured items particularly from Jamaica and Trinidad amp Tobago began to be supplied for the first time Diversification not only occurred in the types of goods sold but in the matrix of trade relationships with Jamaica s trade expanding away from the traditional markets of Belize and the northern Caribbean towards the southern and eastern Caribbean while Trinidad amp Tobago s trade concurrently expanded from the traditional markets of Guyana and the Eastern Caribbean towards Jamaica Belize and the northern Caribbean 10 Additionally the LDCs particularly Saint Lucia Dominica and St Vincent amp the Grenadines benefitted from increase exports to the More Developed Countries MDCs Barbados Guyana Jamaica and Trinidad amp Tobago of ground provisions like sweet potatoes copra and raw oils such as coconut oil under the Agricultural Marketing Protocol and the Oil and Fats Agreement which was initially an Agreement among some regional states that pre dated CARIFTA but was incorporated into CARIFTA as a Protocol and extended to all CARIFTA members in 1970 respectively 11 12 Overall for CARIFTA members intra CARIFTA trade went from accounting for around 6 of total domestic exports in 1967 to constituting 9 of domestic exports in 1970 total domestic imports from intra CARIFTA trade remained general stable at around 5 even as the share trade with more traditional markets fluctuated and generally declined Markets 2 Exports 1967 of total exports 2 Exports 1971 of total exports 2 Imports 1967 of total imports 2 Imports 1971 of total imports 2 United Kingdom 20 9 16 0 20 2 18 7United States 38 0 36 5 25 5 26 5Canada 8 6 5 4 8 7 5 4Latin America 2 7 3 1 20 0 8 1European Economic Community 3 7 2 4 7 6 6 9CARIFTA 6 4 9 2 4 9 4 5Others 19 7 25 4 13 1 29 8Broken down by the MDC and LDC designations the MDC territories experienced 77 growth of intra CARIFTA exports over four years 11 with Jamaica s export trade expanding the most growing by 46 in exports and 24 in imports for the period 1967 1969 12 and the LDC territories saw 35 growth in intra CARIFTA exports over the same period 11 By the time CARIFTA was officially wound up in mid 1974 both intra CARIFTA imports and exports had risen more than four fold compared to 1966 with intra CARIFTA imports increasing from EC 89 million to EC 473 million 433 increase and intra CARIFTA exports increasing from EC 82 million in 1966 to EC 455 million in 1974 a 457 increase The equivalent statistics for total trade with all partners by contrast showed a three fold increase with imports increasing from EC 1 862 billion in 1966 to EC 7 141 billion in 1974 a 284 increase and exports increasing from EC 1 4 billion to EC 6 3 billion a 350 increase over the same period This indicates that CARIFTA was successful in creating trade rather than merely diverting trade with the Free Trade Area 13 Inter Regional Settlements Agreement edit On November 26 1969 the central banks of Guyana Jamaica and Trinidad and Tobago jointly announced the institution of an Inter Regional Settlements Agreement 14 also known as the Intra Regional Payments Scheme 15 aimed at facilitating and reducing the cost of making payments from trade among CARIFTA states The Agreement became operational on December 1 1969 between those three countries while the remaining CARIFTA states of Antigua and Barbuda Barbados Dominica Grenada Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines and Montserrat were intended to join the scheme on January 19 1970 14 However all of these states except Barbados did not actually join the scheme until February 1970 and Barbados itself joined in May 1972 Belize having been renamed from British Honduras in 1973 joined in February 1976 15 This Inter Regional Settlements Agreement expanded upon pre existing arrangements between CARIFTA states for dealing with their regional currencies exchanging their various currency notes and coins by allowing for the purchasing and selling of regional currencies via bank transfers This would enable the regional monetary authorities to facilitate regional commercial banks in concluding final settlements between themselves locally rather than having such payments done through London as was the practice up to that time In turn this allowed commercial banks to offer better rates of exchange and settlement in the regional currencies to their customers The new arrangement also allowed for the desired increase in international liquidity for the CARIFTA states be formally making CARIFTA currencies convertible within the CARIFTA Area This was considered a necessity as the volume of intra CARIFTA trade increased 14 However under the Scheme the various CARIFTA central banks or monetary authorities effected settlements with each other individually with each member extended an interest free maximum credit line of 100 000 and outstanding net balances being settled quarterly by actual currency exchange in Pounds Sterling In 1974 the individual credit lines were increased to 500 000 or approximately US 1 160 million and in 1976 total credit in the arrangements was increased to US 40 million 15 The Settlements Agreement facilitated the flow of regional trade conserved the region s international reserves and encouraged the integration of the regional banking systems The settlement on a quarterly basis significantly reduced the previously erratic changes in foreign exchange reserves of the participating member states caused by having to settle at least once a day in both directions prior to the scheme to pay for imports and receive funds from exports 15 The Inter Regional Settlements Agreement would continue past CARIFTA s transformation into CARICOM and eventually be replaced in April 1977 by the CARICOM Multilateral Clearing Facility and its concomitant traveller s cheques facility 16 This transformation was due to the fact that though the Scheme worked satisfactorily it was cumbersome due to the need of each of the 6 participating monetary authorities to keep individual accounts for all of the other participants and the growth of intra regional trade requiring an increase in the volume of credit to be provided Additionally despite all countries extending credit on a bilateral basis Trinidad and Tobago became the only net creditor within the Scheme 15 Membership editIn 1965 on December 15 the CARIFTA was founded by 3 countries 7 nbsp Antigua and Barbuda 1965 nbsp Barbados 1965 nbsp Guyana 1965 The following countries joined the agreement 7 3 nbsp Trinidad and Tobago May 1 1968 nbsp Dominica July 1 1968 nbsp Grenada July 1 1968 nbsp Saint Kitts and Nevis July 1 1968 nbsp Saint Lucia July 1 1968 nbsp Saint Vincent and the Grenadines July 1 1968 nbsp Jamaica August 1 1968 nbsp Montserrat August 1 1968 nbsp British Honduras Belize May 1 1971 In the 1970s around the time CARIFTA was being transformed into CARICOM the following countries were granted Liaison Status Observer Status in the Association 11 17 nbsp Suriname March 1973 nbsp Netherlands Antilles July 1973 18 Potential Members edit The Bahamas edit Although never a member of the Association itself The Bahamas had begun involvement in the regional cooperation and integration initiative through participation in the Heads of Government Conferences of the Commonwealth Caribbean starting in 1966 19 This participation was quite active with The Bahamas Premier Lynden Pindling sharing experiences and offering suggestions with regards to the establishment and operation of a regional air carrier at the 1969 Conference 8 and with The Bahamas along with Belize which was not as yet a member of the Association being invited to participate in the initial meeting and in all future discussions of the regional Ministers of Education in regards to the establishment of the Caribbean Examinations Council and the overall regional plan for cooperation in education at the 1970 Heads of Government Conference 20 The Bahamas was also quite involved in the transformation of CARIFTA into the Caribbean Community with the 1972 Conference at which it was agreed to form the Caribbean Community appointing a Committee of Attorneys General of all CARIFTA member states and the Bahamas to review the legal implications of establishing the Community itself and to prepare a draft Treaty for creating the Community The 1972 Conference also agreed to deepen fiscal financial and monetary cooperation within the Commonwealth Caribbean and to that end established a Standing Committee of Ministers of Finance of CARIFTA member states and The Bahamas as a permanent institution for regional economic cooperation 21 In April 1973 at the final meeting of the Commonwealth Caribbean Heads of Government before the establishment of the Caribbean Community the Conference welcomed the upcoming independence of The Bahamas in July 1973 and looked forward to its participation in the Caribbean Community 22 The Netherlands Antilles and Surinam edit While initially envisaged as being potential members of a Caribbean Economic Community by Trinidad amp Tobago s Prime Minister Dr Eric Williams when he first enunciated such a vision in January 1962 the talks between Trinidad amp Tobago and Surinam as it was then called until 1978 when it officially changed its name to Suriname and the Netherlands Antilles in March 1962 were not successful 23 These two Dutch Caribbean territories at the time were however also invited prior to 1968 to become founding members of CARIFTA but Surinam declined as it was uncertain as to the implications of joining and the Netherlands Antilles also declined out of caution against being the only non Commonwealth member 24 Following CARIFTA s foundation however Jamaica s Prime Minister Hugh Shearer found on a tour of the Dutch Caribbean in August 1968 that the Minister President of the Netherlands Antilles Ciro Domenico Kroon and the Prime Minister of Suriname Johan Adolf Pengel both expressed an interest in their respective territories joining CARIFTA in the future 25 Haiti and the Dominican Republic edit In January 1970 at the fifth meeting of the CARIFTA Council Trinidad and Tobago proposed that the Bahamas Haiti and the Dominican Republic be admitted as members of CARIFTA This proposal was generally positively received The inclusion of those states would have expanded CARIFTA s market by 8 5 million people and increased the subscribed capital of the Caribbean Development Bank which had been linked with the formation and operation of CARIFTA by approximately US 17 million 26 By 1971 however Errol Barrow Prime Minister of Barbados saw no real advantage in including Haiti and the Dominican Republic and Cuba in CARIFTA unless a quota system was applied to their products as he considered their economies to be duplicate to those of the existing CARFITA states 24 The Dominican Republic first signaled its intention to join a regional economic bloc at the a Summit of American leaders in Uruguay in April 1967 when it signed the Declaration of the Presidents of America This Declaration outlined the aim for the creation of Latin American Common Market through the vehicles of the Latin American Free Trade Association LAFTA and Central American Common Market CACM Subsequently the Dominican Republic looked into both LAFTA and the CACM before pursuing discussions on joining CARIFTA in 1970 26 27 However the discussions did not result in Dominican membership before CARIFTA was ended in favour of forming CARICOM in 1973 1974 Other States edit At the 1972 Conference of Commonwealth Caribbean Heads of Government consideration was given to widening CARIFTA but the immediate priority was agreed to be to improve the position of the less developed territories in the Association and to study the possibilities of including all the Caribbean islands and Suriname in the integration movement 21 Organization editWhile the original 1965 CARIFTA Agreement was mostly modelled on the 1960 European Free Trade Association Agreement and the subsequent 1967 Agreement was suitably modified to reflect membership encompassing most of the Commonwealth Caribbean 28 the Association itself was governed more like the European Economic Community EEC with a mix of formal institutions set up by the Agreement and informal institutions outside the scope of the Agreement although like EFTA the formal institutions prescribed in the CARIFTA Agreement were simple and flexible 28 Heads of Government Conference edit Similarly to the European Council the regional Heads of Government Conference started off as an informal summit of leaders and later as an independent formal summit of leaders that was still informal with regards to the regional integration organization over which it had some amount of direction 12 Unlike the European Council with regards to the EEC however the regional Heads of Government Conference pre dates CARIFTA and then CARICOM having first convened in 1963 in Port of Spain Trinidad amp Tobago Having expanded its membership from just the independent Commonwealth Caribbean states in 1963 to including all of the non independent territories in 1967 it was the Heads of Government Conference at its fourth sitting in October 1967 in Bridgetown Barbados 12 that modified the Dickenson Bay Agreement so as to ensure the broadest possible membership set 1 May 1968 as day CARIFTA was supposed to become operation and set forth a Resolution on Regional Integration which was incorporated as an integral part of the CARIFTA Agreement as Annex A 28 In regards to the CARIFTA and the wider regional integration movement the Heads of Government Conference was the ultimate body which gave direction to the regional integration established committees and working parties to examine certain issues pertaining to regional integration approved the budget of the Commonwealth Caribbean Regional Secretariat and informally was needed to expressly approve any new major initiatives of the formal CARIFTA institutions 12 The Heads of Government Conference would be formalized as an Organ of CARIFTA s successor organization CARICOM with the Original Treaty of Chaguaramas of July 1973 Council edit The CARIFTA Council is analogous to the EFTA Council of Ministers and was set up under Article 28 of the CARIFTA Agreement with each member territory being represented on the council and having one vote Council decisions and recommendations were made by unanimous vote except where the Agreement provides otherwise in which case it could act by a majority vote consisting of two thirds of the member territories 12 28 Besides administering the CARIFTA Agreement the council was also empowered to settle disputes arising from the CARIFTA Agreement whether between member territories for originating from within a member territory and thus it also acted as tribunal when necessary In that way it could authorize any member territory to take interim safe guard measures and suspend its obligations towards another member territory if the second member territory was determined by the Council not to be fulfilling its obligations stemming from the CARIFTA Agreement 12 28 Commonwealth Caribbean Regional Secretariat edit The Commonwealth Caribbean Regional Secretariat was the principal administrative organ of the Association being established under Article 28 3 of the Agreement and it could be entrusted by the council with such functions or delegated authority as the Council considered necessary to assist it in accomplishing its tasks The role of the Secretariat was to service both the Heads of Government Conference and the council ensuring implementation of resolutions and decisions and to make studies concerning trade expansion or as assigned to it by the Conference or the council and make recommendations on matters within its competence 12 28 The Secretariat itself was divided into two Divisions The first was the Trade and Integration Division which supervised the workings of the CARIFTA Agreement including collecting collating and analyzing regional statistics and economic data as well as improving customs procedures and training customs personnel The second was the General Services and Administrative Division which held responsibility for the general administration of the Secretariat and the non economic aspects of regional integration such as education health meteorology shipping and so on 12 Transformation and legacy editIn 1973 CARIFTA became superseded by the Caribbean Community CARICOM following a decision at the Seventh Heads of Government Conference in October 1972 to transform CARIFTA into a Common Market and establish the Caribbean Community of which the Common Market would be an integral part 7 At the Eighth Heads of Government Conference in April 1973 the Georgetown Accord was adopted which set out the details of how CARIFTA was to be replaced by CARICOM 29 The Treaty of Chaguaramas declared that CARIFTA would cease to exist on 1 May 1974 when the remaining CARIFTA members all acceded to CARICOM In fact there was essentially a transitional period between 1 August 1973 when the More Developed Countries MDCs of Barbados Guyana Jamaica and Trinidad amp Tobago acceded to CARICOM and 26 July 1974 when Saint Kitts amp Nevis acceded to CARICOM during which both CARIFTA and CARICOM were legally in existence and operative and thus CARIFTA wasn t fully superseded until 26 July 1974 30 In conjunction with their accession to CARICOM the various CARIFTA states gave notices of withdrawal from CARIFTA which brought about the legal termination of CARIFTA s provisions within their jurisdictions and ultimately the complete legal dissolution of CARIFTA itself 31 Thus the dates of withdrawal from CARIFTA are as follows 30 April 1974 Barbados Guyana Jamaica and Trinidad amp Tobago October 1974 Belize Dominica Grenada Saint Kitts Nevis Anguilla Saint Lucia and Saint Vincent amp the Grenadines January 1975 Montserrat 32 30 July 1975 Antigua amp Barbuda 30 The regional co operation under the CARIFTA agreement also led to the foundation of several common institutions The Commonwealth Caribbean Regional Secretariat was set up in Georgetown Guyana and the Caribbean Development Bank was established in Bridgetown Barbados 33 One of the legacies of CARIFTA is an international youth athletics event for junior athletes from the member states started in 1972 by the association and inaugurated and thought up by Austin Sealy then president of the Amateur Athletic Association of Barbados to mark the transition from CARIFTA to CARICOM called the CARIFTA Games In 1985 a similar set of games The CARIFTA Aquatics Championships started See also edit nbsp Caribbean portalCARIFTA Games CARIFTA Swimming Championships Latin American economyReferences edit Population of CARICOM territories 1960 2001 a b c d e f United Nations Economic Commission for Latin America CARIFTA Countries Overview of Economic Activity 1972 a b c d Secretariat of the Caribbean Community The Caribbean Free Trade Association CARIFTA Archived from the original on 2008 09 16 Retrieved 2008 12 28 a b The 2009 ERROL BARROW MEMORIAL LECTURE PDF Archived from the original PDF on 2013 10 21 Retrieved 2012 09 14 a b c d Kamal A True Caribbean Man 4th Conference of Heads of Government of Commonwealth Caribbean Countries 23 27 October 1967 Bridgetown Barbados Archived March 19 2015 at the Wayback Machine a b c d History of the Caribbean Community Archived October 21 2012 at the Wayback Machine a b 5th Conference of Heads of Government of Commonwealth Caribbean Countries 3 5 February 1969 Port of Spain Trinidad and Tobago Archived April 13 2015 at the Wayback Machine Caribbean Community The Elusive Quest for Economic Integration PDF Archived from the original PDF on 2014 03 25 Retrieved 2012 09 14 United Nations Economic Commission for Latin America CARIFTA Developments in 1973 a b c d CARIFTA and Caribbean Trade An Overview a b c d e f g h i Caribbean Free Trade Association 1971 CARIFTA and the New Caribbean Commonwealth Caribbean Regional Secretariat p 143 United Nations Economic Commission for Latin America Evaluation of the integration movement CARIFTA to CARICOM a b c Financial Arrangements between Central Banks in the Caribbean a b c d e The CMCF and CARICOM Trade The Financial Evolution of the Caribbean Community 1970 1996 CARICOM Externally Vulnerable Regional Integration PDF Archived from the original PDF on 2014 08 13 Retrieved 2012 09 14 United Nations Economic Commission for Latin America Fourteenth CARIFTA Council De Lombaerde Philippe 2008 Governing Regional Integration for Development Monitoring Experiences Methods and Prospects Ashgate Publishing Ltd p 34 ISBN 978 140 94 9871 1 6th Meeting of Heads of Government of Commonwealth Caribbean Countries 13 17 April 1970 Kingston Jamaica Archived March 19 2015 at the Wayback Machine a b 7th Meeting of Heads of Government of Commonwealth Caribbean Countries 9 14 October 1972 Chaguaramas Trinidad and Tobago Archived 2015 03 19 at the Wayback Machine 8th Meeting of Heads of Government of Commonwealth Caribbean Countries 9 12 April 1973 Georgetown Guyana Archived March 19 2015 at the Wayback Machine Payne Anthony 1980 The Politics of the Caribbean Community 1961 79 Manchester University Press p 299 ISBN 978 071 90 0793 4 a b Perusse Roland 1971 A Strategy for Caribbean Economic Integration North South Press p 212 Ministry Papers of Jamaica Visit of the Prime Minister to the Netherlands Antilles Surinam Guyana and Trinidad and Tobago from August 14 August 25 1968 a b Andic Fuat 2010 A Theory of Economic Integration for Developing Countries Illustrated by Caribbean Countries Routledge p 176 ISBN 978 113 68 7858 9 Information Services on Latin America ISLA Volume 19 Information Services on Latin America 1970 a b c d e f Caribbean Free Trade Association R L Abbott Economic Integration in the Caribbean The Georgetown Accord Archived from the original on 2016 10 03 Retrieved 2016 10 03 a b c Ramcharan B G 1989 Ramcharan Caribbean Law Springer Netherlands p 468 ISBN 978 079 23 0408 1 Latin American Economic Integration Public Statement by the CARIFTA Council of Ministers on the legal aspects of the transition from CARIFTA to CARICOM United Nations Economic Commission for Latin America Widening of the Caribbean Integration Process Economic Integration in the Caribbean The development towards a common labour marketExternal links editDunker Jorg 2002 Regionale Integration im System des liberalisierten Welthandels EG und NAFTA im Vergleich Frankfurt Main Peter Lang ISBN 3 631 37941 2 P 57 Caricom Community Secretariat Caribbean trade articles from Agritrade Retrieved from https en wikipedia org w index php title Caribbean Free Trade Association amp oldid 1203406633, wikipedia, wiki, book, books, library,

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