The Revised Treaty of Chaguaramas establishing the Caribbean Community and the CARICOM Single Market and Economy (CSME) signed in 2001, governs trade relations in CARICOM. CSME allows the free movement of SERVICES, GOODS, PEOPLE and CAPITAL across the Member States of the Caribbean Community, by removing all barriers to trade and impediments which could restrict one’s right to provide services.
The agreement facilitates the following:
- Removal of import duties, tariffs and quantitative restrictions for all goods of CARICOM origin.
- Access to land, building and other property related to the provision of services by nationals from other Member states without any limitations or discrimination.
- Travel of University Graduates, Media Workers, Sports Persons, Musicians, Artists, Managers, Supervisors and other service providers to Member States with only a travel permit, and in some cases an Inter-Caribbean Travel document. Workers in these categories can move freely to another Member State and enjoy the same benefits and rights regarding condition of work and employment and property access for either residential or business purposes.
- Equal rights of citizens of Member States to buy shares in any company of any Member State and to remove capital from one Member State to another.
- Right to transfer money form one member state to another country through bank notes, cheques, electronic transfers, etc., without having prior authorization.
- Removal of restrictions to encourage intra-regional investments
CARICOM MEMBER STATES
- Antigua and Barbuda
- The Bahamas
- Saint Lucia
- St. Kitts and Nevis
- St. Vincent and the Grenadines
- Trinidad and Tobago
CARICOM ASSOCIATE MEMBERS
- Anguilla – 4 July 1999
- Bermuda – 2 July 2003
- British Virgin Islands – 2 July 1991
- Cayman Islands – 15 May 2002
- Turks and Caicos Islands – 2 July 1991
CSME promotes growth and greater potential for international competitiveness for CARICOM.
Click on the link below to read full text:
Revised Treaty-text (597.4 KiB)