Caribbean Single Market and Economy Free Essay, Term Paper and Book Report
1.0 Background
Throughout the history of the Caribbean there have been many attempts towards integration. The first attempts were made through the adoption of the British West Indian Dollar in the late 1940s (a common currency being one aspect of integration). Its demise however came to an end following the independence of these small states in the late 1960s. Thence came the formation of the Caribbean Free Trade Area (CARIFTA) in 1968. This, however, only facilitated trade intra-regionally and not extra-regionally and included only the English speaking territories. In 1973 the Caribbean Common Market and Community (CARICOM) emerged as an attempt towards further integration.
CARICOM unfortunately failed in its efforts at monetary cooperation due to the lack in financial support for the secretariat and Guyanas tumultuous economic and political status, but its most significant achievement, thus far is the Common External Tariff (CET), which has been adopted by all members . The last attempt at integration was made in 1977 through the inception of the CARICOM Multilateral Clearing......
Word Count: 2711
Page Count: 10.8 (250 words a page / double spaced)
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