CARICOM Studies show the CSME operating at about 64% level of compliance
(CARICOM Secretariat, Turkeyen, Greater Georgetown, Guyana) The CARICOM Single Market and Economy (CSME) is operating at about sixty-four percent (64%) overall level of compliance. This is based on the findings of studies commissioned by the Caribbean Community (CARICOM) Secretariat. The five core CSME regimes are functioning but not at the level of effectiveness contemplated by the Community. The studies were carried out over the last three years.
The core regimes operate through transactions between governments and CARICOM businesses and persons. The CSME functions on the basis of a number of central legislation, institutional arrangements and administrative processes. These legal, institutional and administrative measures form part of the foundation elements from which compliance is determined and measured.
The five core regimes and their compliance grades:
The Free Movement of Skills -sixty-six percent (66%)
Free Movement of Goods – eighty percent (80%)
The Free Movement of Services – thirty seven percent (37%)
The Movement of Capital – seventy-two percent (72%)
The Right of Establishment -sixty-four percent (64%)
The major deficiencies are with respect to the Free Movement of Services and the regime on the Right of Establishment. In addition there is need for improvement with the regime for the Free Movement of Skills regarding the level of efficiency and effectiveness of administrative transactions between government authorities and CARICOM Nationals.
The Studies were facilitated through the CARICOM Trade and Competitiveness Project (CTCP) which is an arrangement between Canada and CARICOM. It is designed to help create the capabilities within member States to deliver the rights conferred under CARICOM agreements and to further enhance the effectiveness of the CSME.