CARICOM www.caricom.org
Caribbean Development Bank www.caribank.org
European Union europa.eu/europeanunion/index_en
The EPA and CSME Standby Facilities for Capacity Building at Work
The European Union and the Caribbean
The CSME Standby Facility Project “Developing the Export-Readiness of Suriname’s Agrifood Enterprises for The CARICOM Market” is assisting women in the Brokopondo District of Suriname make Cassava porridge for export to the Caribbean.”
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ncreasing the capacity of Antiguans in the agricultural and arts and crafts sectors to export their products within CARICOM. Increasing exports from Trinidad and Tobago to five nontraditional markets in the European Union (EU). Establishing a Caribbean Centre of Excellence for Financial Services in The Bahamas. These are just three of the twenty-eight projects underway as part of the EPA and CSME Standby Facilities for Capacity Building. The two Facilities, managed by the Caribbean Development Bank (CDB) with funding of US$9 million, are part of the ongoing effort of the EU to give support to the countries of CARICOM in their implementation of the CSME and the EPA.
The CSME
The Caribbean Community (CARICOM) Single Market and Economy, better known by its acronym CSME, is an arrangement set up by among the CARICOM Member States to create an open marketplace that gives the people of the Caribbean Community more and better employment opportunities. Under the CSME, people are also able to produce and sell their goods and services more easily throughout CARICOM, and to attract outside investment to the region. The CSME makes these things possible by removing restrictions that have stood in the way of the free movement of goods, services, people, capital and technology.
There are currently 12 countries in CARICOM participating in CSME. They are Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname and Trinidad and Tobago. Haiti has signed the Revised Treaty of Chaguaramas establishing the CSME, and is currently going through the necessary legal, regulatory and administrative changes in order to fully participate.
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