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Work on the establishment of the CSME Intensifies


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Monday, January 05, 2004 – As the New Year begins, the Caribbean Single Market and Economy CSME continues to be the watchword for Caricom governments as they prepare for the establishment of a new system of economic unity.

Saint Lucia for its part through the Ministry of Commerce, Investment and Consumer Affairs is at present involved in developing a number of measures for the coming on of the new system. During a recent television discussion with the Government Information Service, Director of Commerce and Industry Titus Preville and Trade Advisor McDonald Dixon spoke to the far reaching impact that the CSME is expected to have on the entire Caribbean.

According to the Trade Advisor the CSME holds very promising possibilities for the region. “The most urgent interest in my view is getting the CSME off the ground. It would provide a larger trading bloc for the area and give us a pool of resources, possibly that we never had before in order to negotiate between the various external affairs, particularly in the FTAA.”

However the Director of Commerce believes there is an important distinction between the formation of a single market and a single economy. “We are looking at forming a single market and a single economy. They’re not the same. The single market presupposes or what is involved in that is the establishment one economic space. The same way if you live in Gros Islet and you want to work in Vieux Fort all you do is drive across and you get to work. That is what a single market is supposed to be. It means the free movement of persons, of capital, of skills, the right to establish a business and conduct business without any impediment along the way,” Preville explained.

Preville further explained that although the CSME is not fully operational. There are elements which are already being successfully implemented such as the free movement of nationals within the Caricom region.

 


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