The Conference received an update from lead Head on the CSME, the Prime Minister of Barbados, on progress to implement the CARICOM Single Market and Economy (CSME).
They agreed that the Secretariat would prepare a timeline of actions necessary to complete policy and regulatory work to bring the regional capital market into being by July 2024. The timeline will include a schedule of meetings of COFAP, COTED, COHSOD and the LAC, and will be presented to the Prime Ministerial Sub-Committee on the CSME and the CARICOM Bureau of Heads of Government before the end of July 2023.
Theyalso agreed that the initiatives comprising the macroeconomic policy coordination agenda for the CSME, including the operationalizing of the regional capital market, must be tabled for adoption by Member States by July 2024.
The Conference agreed to work towards the free movement of all CARICOM nationals within the Community by 31 March 2024. They acknowledged that there are certain basic guarantees that should be afforded to all CARICOM nationals exercising their right to freely move and remain indefinitely in another Member State of the Community.
In this regard, they agreed that any appropriate amendments to the Revised Treaty to provide for the attendant rights of CARICOM nationals exercising their right to free movement within the Community and accommodate the concerns of all Member States would be completed in the intervening period.
Heads of Government agreed to the further extension of the CDF’s Second Contribution Cycle to 31 December 2023. They thanked Dr. Wendell Samuel for his sterling service as Chairman of the Board of Directors of the CDF and acknowledged the COFAP’s commitment to an early appointment of a new Chairperson.
