Contact Vol19 No2 June2019

Editor’s note
Editor’s note
So why are we still discussing and
not benefitting from full CSME
implementation in 2019? In this issue of
CONTACT, we explore these concerns and
more in CSME: Getting it right!
Even the world’s largest trading bloc wants the Caribbean to get to work
on advancing the Caricom Single Market and Economy (CSME). Having
invested several millions over the past decade, to support the development of
CSME and the implementation of the European Partnership Agreement, the
European Union (EU) wants to see action. The private sector and citizens in
the region want the same.
The EU is the world’s largest economy, with a GDP per head of
US$28,000 for its 500 million consumers. Its founding charter, the Treaty of
Rome, was signed in 1957 by six states. Today the EU comprises 28 member
states (including the UK pending Brexit). How has the CSME fared in comparison?
Established three decades ago in 1989, the CSME was a strategic project
intended to deepen regional integration and better respond to the challenges
and opportunities presented by globalisation. Not all 15 Caricom member
states are part of the CSME. Montserrat requires entrustment (approval) from
the United Kingdom. The Bahamas has stated its intention not to get on board.
Haiti is a partial participant, with full integration carded for 2020 (when it
will add another 11 million consumers to the market).
So why are we still discussing, and not benefitting from full CSME implementation
in 2019? Is it lack of political will? Not enough strong decisive
leadership in the region? In this issue of CONTACT, we explore these concerns
and more in CSME: Are we getting it right?
We examine whether small economies can realise big plans in the current
geopolitical and economic climate of the region. We look at the Barbados
Prime Minister's plans and priorities for CSME; and then consider the realworld
CSME experiences of Karibbean Flavours and Guardian Life.
In this issue of CONTACT, we also introduce several new features and
concepts, starting with our “Five Top Facts” about Caricom markets. You will
also hear from key business leaders on the labour relations climate in Trinidad
and Tobago, in “The Voice of Business”. We launch our new business profile
feature with “Angela Lee Loy: breaking business barriers”. Our second new
feature, “Innovation in business”, examines Caribbean Cure and Epilimnion
Aquaculture agri-businesses. As we prepare for the next rainy season, consider
if your business is ready for a natural disaster.
We close off our new content with “The Chamber’s Learning and Growth
Corner” – want to improve the way you do business? Check out what business
leaders are reading. Finally, the Chamber examines economic prospects for
the region, and delves more closely into the local energy sector’s performance.
It’s always a privilege to welcome new members of the Chamber and of
course, new readers to CONTACT. We look forward to your feedback on this
packed issue: let us know what you think of the new content.
Natalie Dookie, Editor
chamber.org.tt
JUNE 2019 7