Improving the operational efficiency of the single market (i.e. freedom of movement of goods, services, capital, business enterprises and skilled labour), the progressive harmonisation of policies, laws, and regulations, and the development of new regional institutions to enable the effective, coherent and coordinated administration of regional policy frameworks are the pillars of progress towards deeper economic integration in the Caribbean region. In this context, establishing an agreed CSME (CARICOM Single Market and Economy) Framework for commitments, market rules and disciplines regarding the energy, minerals and forestry sectors would be a historic milestone.
The project will develop a draft framework CSME policy for an internally consistent and non-discriminatory regime to be applied to goods producing industries with particular reference to energy, minerals (precious metals and building materials) and forestry products. The consultancy requires desk research and field research including visits to identified Member States to undertake interviews and consultations with Government and non-government stakeholders inclusive of private sector, and presentation of proposals derived from a regional Meeting of Officials to arrive at a consensusfor a framework CSME policy.
The Framework CSME Policy, developed on the legal foundations of the Revised Treaty, could set out a non-discriminatory regime defining how the jurisdiction of local regulators would affect market access, entry and participation of non-nationals in the energy, minerals and forestry sectors. Based on the detailed analysis of current government practices, it would harmonise government measures regarding license requirements, free market participation of various market players, and the market transactions of primary commodities and intermediate and finished goods. It would also remove the remaining obstacles - legal and operational - on free movement of goods, services, labour and capital. Since the process of the drafting of the Framework Policy will be participatory and will take into account the consideration of various stakeholders, it is envisaged that the Framework CSME Policy will have political support at the regional level. It will constitute the legal foundations of new regional and complementary national institutions to enable the effective, coherent and coordinated administration of the regimes of the internal market.
Director, International Economic Development group, Principal Research Fellow