JIS News

The CARICOM Single Market can only work effectively, if there is effective coordination of the region’s macro-economic policies to create a single economy.
In making this statement during the Sectoral Debate in the House of Representatives on Wednesday (June 25), Deputy Prime Minister and Minister of Foreign Affairs and Foreign Trade, Dr. Kenneth Baugh said the Single Economy process, which is slated to commence this year, will be built on the framework established by the Single Market, including harmonization of corporate tax structures and investment policy, and the establishment of the macro-economic framework.
“Even as we put in place the institutional framework to make the CARICOM Single Market and Economy (CSME) process a reality, we must be clear about the benefits to Jamaica of partnership in the CSME”, Dr. Baugh said, adding, “Jamaicans must be assured that our manufacturers, our farmers and our workers are guaranteed a fair chance of participating on equal terms in the markets of the region”.
He said, similarly, “we will continue to ensure that others are able to have access to the Jamaican market,” stressing that the Government will be vigilant in ensuring the implementation of the provisions of the revised Treaty of Chaguaramas on the basis of reciprocity and that no obstacles or impediments are applied to prevent Jamaican entrepreneurs and workers from seeking to take advantage of the benefits of deeper integration.
Dr. Baugh assured manufacturers that the Ministry is prepared to defend workers interests within the Single Market, utilizing all the organs provided for this purpose in the Revised Treaty.
Meanwhile, the Deputy Prime Minister acknowledged that Haiti remained a priority for CARICOM and that much work was being done there, through the CARICOM Representational Office, to ensure that the appropriate legislation is enacted to allow for the full participation of Haiti in the CSME.
He said he recognised the number of challenges that confront Haiti, including the consolidation of the democratic process and that given the tradition of the democratic process in Jamaica and the region, “we will commit to working with the Haitian Government to put in place, the appropriate institutional support that would allow for democracy to take root and flourish”.