PM Stuart: CARICOM Single Market on the march

THE SINGLE MARKET component of the CARICOM Single Market and Economy is “on the march”, says Prime Minister Freundel Stuart, while the Single Economy element has been a little more challenging because it calls for more fundamental decisions.

In an interview with the Barbados Government Information Service, Stuart noted that the Single Market had created an environment where goods, services and capital could move freely across the region and the establishment of businesses through the Caribbean could be facilitated.

“I would say that largely we have managed to get all those mechanisms in place. There are always a few remaining things to be done, in particular the Contingent Rights for people who establish businesses in respective countries. That has caused a few challenges because of differences in our legislation and the kind of inequalities between countries in the region at different levels of development. Therefore, the rights that one country might be able to give easily, do not come as easily to countries less resourced; so we are still trying to plough our way through that, ” he explained.

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