December 2005 will signal a critical juncture in the life of the Caribbean Community (CARICOM) as it will be the time when Member States are expected to begin full participation in the CARICOM Single Market (CSM), the twin element of the CARICOM Single Market and Economy (CSME).

When CARICOM Heads of Government conceptualised the CSME at Grand Anse, Grenada in 1989, they articulated the formation of a seamless single economic space bearing features including the Right of Establishment facilitate the movement of goods, services and capital across the Region to enhance market competitiveness and extra-Regional trade arrangements.

The removal of barriers to trade and the harmonisation of legislation in Member States are key elements for the operation of the CSM. To this end, as CARICOM countries continue on the path to meet the December 2005 deadline, the Region’s private sector is increasing its participation to maximise the benefits from the Single Market process.

On Monday 28 February 2005, representatives from Guyana’s private and manufacturing sectors benefitted from a sensitisation seminar under the theme, “ Business Opportunities From Liberalising Services in the CSME.” The Guyana Trade and Investment Support (GTIS)- a joint Government of Guyana and United States Government Project, facilitated the forum.

One of the speakers at the forum, Hon Clement Rohee, Guyana’s Minister of Foreign Trade and Economic Cooperation and recently appointed CARICOM spokesperson on Sugar, commended the GTIS for spearheading the session, and he stated, “ The CSME is on the cusp of creating a genuine liberalised market by the end of 2005.”

The CARICOM Secretariat’s Programme Manager for the CSME, Mr. Ivor Carryl, gave a comprehensive presentation on the potential role of and benefits for the private sector in providing services under a CSM regime. He underscored the need for a national CSME strategy and urged that such a strategy be embraced in the legislative agenda at the national level. He stressed that countries should adopt a non-partisan parliamentary approach to the CSM process.

The CSME Programme Manager added that Member States, such as Guyana, which are in the process of completing the required arrangements for full participation in the CSM, should implement public education programmes to prepare stakeholders for its introduction. In directing his presentation to the private sector audience, Mr. Carryl recommended that they undertake market research, for the purpose of identifying consumer demands and niche markets. He also singled out the creation of a website by the private sector to inform stakeholders and service providers on the rights, laws and regulations required by each Member State for participation in the CSM.

In citing the need to broaden their vision as they prepare to enter the CSME, Mr. Carryl told his audience, “Plan for occupation of the Regional market; increase Regional market access know-how and market shares; deepen skills and source skills Regionally; and adopt a Regional market consumer share approach.”

He also encouraged the establishment of youth entrepreneurship as a mechanism for job creation in the Region, and the retaining of skills that are constantly being lost to developed countries.

The seminar came as part of the public education initiative of the CARICOM Secretariat’s Barbados based CSME Unit, which responds to stakeholders’ demand for sensitisation, and supports national public education programmes.