they also want the expanded markets with special benefits re duties and other trade controls (e.g. CSME implementation also requires Community bodies, such as the Council for Finance and Planning (COFAP) and the Legal Affairs Committee (LAC), to meet regularly with attendance of a critical mass of Ministers and Attorneys General to facilitate decision-making.

The objective of the CSM is to facilitate the free movement of goods, services and people. XXOBJECTIVES OBJECTIVES OF CARICOM CARICOM CSME OECS QUIZ INTRODUCTIO N QUIZ: QUESTION 4 The CSME will strengthen the regions bargaining power with larger and richer countries by: 19 A.

Typical services include, financial services, , transportation and communications ,tourism, education , health care , business services , production related services and environmental services . Definition of Services in the CSME . The CSM is the first step towards what is expected to evolve into an economic union- the CSME (Caribbean Single Market and Economy) by 2015. OECS Member States as LDCs of CARICOM are likely to be most affected by the establishment of the CSME. CARICOM Single Market and Economy: Challenges, Benefits, Prospects. The use of terms of the Revised Treaty provide that services mean “…services provided against remuneration other than wages in an approved sector…”. We must resist the temptation to assure everyone that he will be a winner. The strong business people in the region want the free capital movement for investment. It has several objectives which include the completion of the creation of the Single Market by adding the free movement of services, the unrestricted movement of capital and the right of CARICOM nationals to set up busi- ness in any CAR COM country (rights of establishment). In the CSME game, while there is an abundance of evidence that the region as a whole will benefit, there is the danger that some will win while others could lose. Today, by and large, the CSME objectives have not been met. The Federation was established by the British Caribbean Federation Act of 1956 with the aim of establishing a political union among its members Three main types of disadvantages expected: 1) Disadvantages arising directly from the establishment of the CSME infrastructure which would influence the distribution of gains from market and economic integration. ...The CARICOM Single Market and Economy (CSME) is indeed a mixed blessing as it carries various benefits as well as challenges for the Caribbean islands.Firstly I will attempt to describe the CSME in its entirety giving the benefits and the shortfalls of its implementation and how it will affect the islands positively or negatively and the factors that may result in the contrasting outcomes. Established in 1958, the West Indies Federation comprised the ten territories of: Antigua and Barbuda, Barbados, Dominica, Grenada, Jamaica, Montserrat, the then St Kitts-Nevis-Anguilla, Saint Lucia, St Vincent and Trinidad and Tobago. Objectives of the CSME The economic objectives of the CARICOM CSME are: o free movement of goods and services through measures such as eliminating all barriers to intra-regional movement and harmonising standards to ensure acceptability of goods and services traded While some commentators can justifiably criticise Caribbean governments for their lack of execution, one view is that it would have been incredibly difficult to achieve common market status while the larger economies in the trade zone were seriously afflicted by economic challenges.