Heads of Government received an update from the Prime Minister of Barbados as Lead Head of Government on the CARICOM Single Market and Economy (CSME), on progress in the implementation of the CSME.
They agreed that the Revised Treaty of Chaguaramas would be amended to provide for the regulation of mergers and acquisitions in the CSME on the basis of an approved Community Policy.
Heads of Government also agreed that Member States should complete their internal consultations and approval processes on the Draft Policy on Mergers and Acquisitions in the CSME to enable the Council for Trade and Economic Development (COTED) to consider and approve the Policy in April 2023.
Heads of Government discussed the progress towards completing the Draft Policy on a Regional Capital Market. They called upon the Council for Finance and Planning (COFAP) and the Legal Affairs Committee to take the necessary action to ensure that the infrastructure for the regional capital market is largely in place within eighteen (18) months.
Heads of Government were presented with an update on the process towards establishing a dual role for the CARICOM Competition Commission (CCC) at national and regional levels.
Heads of Government endorsed the decision of the COFAP to amend the Intra-CARICOM Double Taxation Agreement (ICDTA), through a Protocol on Treaty Shopping and Exchange of Information. They urged Member States to support the work of a Joint Committee of Finance, Tax and Legal Affairs officials, so that the Protocol could be ready for signature at the Regular Meeting of the Conference in July 2023.
