Although mandated studies have found an estimated overall 64 per cent level of “compliance” on provisions governing the CARICOM Single Market and Economy (CSME), the harsh reality is that it is yet to be “fully embraced” by a number of member states.
That is the primary assessment of findings in reports submitted to the Georgetown-based CARICOM Secretariat with free intra-regional “movement of services” and the “right of establishment” identified as two areas of “major deficiencies” among the five “core regimes” of CSME.
Additionally, there continue to be disappointment and discomfort with respect to the pace of progress in addressing the old problem of free movement of CARICOM nationals, with particular concern in relation to advancing the process of free movement of skilled nationals of member states.
The five “core regimes” of the CSME – the often claimed “flagship project” of CARICOM which will mark its 39th year of existence with this coming July’s annual Heads Of Government Summit – are free movement of skills; goods; services; capital; and the right of establishment of businesses to freely operate in member states across the region.
While the approximate 64 per cent “compliance” may bring comfort to some, a concern for governments and business sectors anxious to see progress with the CSME should be an effective process of combined monitoring by both state and private sectors to ensure required compliance with an understanding of possible sanctions for defaulters.
Many criticisms are often levelled – and not without merit – about the foot-dragging politics played by governments that hinder the CSME process of creating a seamless regional economy. The reality, however, is that the regional private sector often escapes blame when such blame should rightly be shared.
The Caribbean business council is one of many long mooted proposals unable to become a reality because of the lack of cooperation between governments and the private sector.
Such a mechanism was once advocated by very articulate and visionary spokesmen on behalf of the region’s private sector, but they are no longer involved in those businesses.
I have covered regional summits and ministerial meetings where both government and private sector leaders have spoken eloquently in favour of the council.
Sadly, however, while by October 25 last year we were learning of the coming establishment of a Latin America and Caribbean Business Council, as an initiative of the Group of Latin American and Caribbean Countries, there is yet to be evidence of regional initiatives within CARICOM to create its own council.
The process for establishing the business council must be hastened so that it can strengthen the government/business partnership for regional development, but it is more important to recognize the need for a monitoring mechanism on “compliance” in relation to the provisions of the Revised CARICOM Treaty on which the CSME is anchored.
In the absence of such a mechanism, the Community may simply be spinning top in mud, with endless official talk on “moving forward with the CSME”.
