Towards a Single Economy and a Single Development Vision

Norman Girvan

UWI

The challenge is to engineer a Single Market and Economy that enables us, collectively, to achieve certain things that we cannot achieve separately; that enhances our sense of collective security, collective identity and collective self-confidence in our ability to deal with the world on equal terms and to realise a vision for the future.

A Single Development Vision

Economic Social Environmental Governance

Economic objectives

Reasonable standard of living Opportunities for youth Self-sustaining growth Internationally competitive Equitable socially and spatially Ecologically sustainable Basic social services

The Caricom Charter for Civil Society Human, civil, political, religious and cultural rights Rights of indigenous peoples, women, children, workers,

the family and people with disabilities Rights to good governance Right to participation in the economy, health, education

and basic necessities; Environmental rights Role of social partners Awareness and the responsibilities of the people.

Needed

Legal status for the Charter Obligatory regular reports on

implementation Measurable objectives for youth, labour

rights, education and health for 2015 Role of Caribbean Diaspora

Environment - key areas

Natural disasters Marine environment Watersheds & Forestry Energy Waste disposal

Environment – key actions

Implement existing laws, regional and international commitments

Common Caricom environmental regime Regional & National State of the Environment

Reports Publish and table reports in National

Parliaments, Caribbean Parliamentary Assembly and Heads of Government Conference

Governance

Strengthening of Caribbean Parliamentary Assembly CCS Budget Report on Civil Society Report on Environment

Deepening of conventional democracy – Local Government

Foreign relations – Caribbean aid/outreach programme

Economic

CSME must be an instrument for economic transformation and competitiveness

Treaty provides a legal framework for functional cooperation and common policies

Need to fill in the framework – the what, when and who

Foreign trade negotiations should be aligned with policies for transformation

Services

Self-employed service providers – great potential for expansion

Common registry needed Equivalency and accreditation Educate immigration officers!

Learning from the past

Numerous technical studies Diversification Reduce/eliminate dependence on

preferences Services Knowledge base

Why the “Implementation Gap”?

Lack of stakeholder ‘buy-in’ ‘Tyranny of the short-term’ Crisis management syndrome Donor driven agendas Legal and institutional machinery Distribution of costs and benefits

Lessons

Sequencing important Prioritise areas with high pay-offs to

everyone Secure stakeholder involvement Use existing knowledge Adopt realistic implementation schedules

Sectoral priorities 2006-2010 Suggested for common policies

Domestic agriculture Preference – dependent industries Sustainable tourism Transport Information and Communication

Technologies

Other priorities 2006-2010

Fiscal incentives harmonisation Company Law - harmonisation Labour Law - harmonisation Capital Market Integration Extended Freedom of Movement Exchange rate coordination

Priorities for 2011-2015

Caribbean Monetary Union Fiscal Policy - harmonisation Monetary Policy - harmonisation Taxation regimes - harmonisation

Institutional infrastructure

Existing 1. Caribbean Court of Justice2. Standards Organization CROSQ

Pending 3. Competition Commission4. Regional Property Rights Office5. Phyto-Sanitary Organization6. Regional Fisheries Organization7. Regional Development Fund8. Regional Securities

Commission9. Conciliation Commission

10. CARICOM Commission 11. Revenue Authority12. Court of Auditors13. Caribbean Assembly of

Parliamentarians (Upgraded)14. Caribbean Central Bank15. Economic and Social

Committee16. Ombudsman Office17. Regional Environmental

Organization

Thank you for your

kind attention!