Abstract
Following World War II, a number of developing countries were attracted to the idea of regional economic integration as a means of accelerating individual economic growth. The first attempt at integration in the English-speaking Caribbean began with the formation of the West Indies Federation in 1958. On July 4, 1973, CARICOM was convened through the signing of the Treaty of Chaguaramas. CARICOM has two separate institutions: the Caribbean Community and the Common Market. Caribbean integration is not about trade and production alone. It extends to closer cooperation and common services and to promote the use of currencies of members in settling eligible transactions between the individual countries, thereby economizing on the use of foreign exchange. It is also designed to promote monetary cooperation across all sectors among the members.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
