Important matters relating to the functioning of CARICOM were expounded upon this morning by Prime Minister Dr. Ralph Gonsalves.

Delivering a lecture on the topic “Some salient issues for resolution within CARICOM”, at the Ministry of Foreign Affairs conference room, Dr. Gonsalves referred to the recently released report by the commission established to review Jamaica‚Äôs relations with the CARICOM and CARIFORUM frameworks.

The Commission which was chaired by Former Prime Minister of Jamaica Bruce Golding disclosed that Jamaica may pull out of the CARICOM Single Market and Economy (CSME) if a clear programme and definitive commitment to have it fully operational within the next five years do not materialize.

CARICOM was established in 1973 and remodeled in 2001, with the Revised Treaty of Chaguaramas laying out a design for the region to be converted into a single market and economy.

While noting that several aspects of the revised treaty in respect of the single market have been put in place, Prime Minister Gonsalves acknowledged that the single economy is yet to be operationalise as envisaged.

He agreed with some portions of the report by the Commission, but expressed dissatisfaction with other aspects.

According to Prime Minister Gonsalves, it is highly unlikely that a single economy can be fashioned in Caricom now and in the foreseeable future.

During the presentation of his lecture, Dr. Gonsalves also noted the suggestion by the report of the Commission in Jamaica, for the elimination of the differentiation between the More Developed Countries (MDCs) and Less Developed Countries (LDCs) in CARICOM.

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