CARICOM leaders urged to fast-track CSME

Jamaica’s Prime Minister Andrew Holness.
Daniel Leal-Olivas / Pool via Associated Press

Regional leaders must put measures in place to fast-track the full implementation of the CARICOM Single Market and Economy (CSME).

Jamaica Prime Minister Andrew Holness said that the Prime Ministerial Sub-Committee on the CSME will start holding quarterly meetings starting in September in Barbados, which will be hosted by Prime Minister Mia Mottley “to give urgency to the implantation process.”

He further noted that government leaders must also put greater focus on advancing those areas that would help to create those areas that would help to create support measures for a competitive Single Market.

These include an investment policy and investment code, an incentive regime, and integrated capital market and securities legislation.

Holness is hoping that these matters will be ready for full adoption at the 40th meeting of CARICOM Heads of Government in July 2020.

These mechanisms, he said, will enable strong support measures for a successful CSME.

The Jamaican prime mnister also stressed the Heads’ recommitment to making the mechanisms within CARICOM work, by taking decisive action.

The CSME is built on five core regimes- free movement of capital, free movement of goods, free movement of skills, the provision of services and the right of establishment. The CSME facilitates hassle-free travel for all CARICOM nationals.

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