Economics Trade Agreements Questions Medium
The Caribbean Community (CARICOM) is a regional integration organization comprised of 15 member states in the Caribbean region. It was established in 1973 with the aim of promoting economic integration, cooperation, and development among its member countries. CARICOM seeks to enhance the economic, social, and cultural well-being of its member states through various mechanisms, including the establishment of a single market and economy known as the CARICOM Single Market and Economy (CSME). The CSME allows for the free movement of goods, services, capital, and skilled labor within the member states, fostering trade and investment opportunities. CARICOM also focuses on addressing common challenges such as climate change, natural disasters, and crime through collective action and cooperation. Additionally, CARICOM engages in external trade negotiations on behalf of its member states, aiming to secure favorable trade agreements with other countries and regions. Overall, CARICOM plays a crucial role in promoting regional integration, economic development, and cooperation among its member states in the Caribbean.