Trading Up in Paradise
The economic prospects for much of the Caribbean are better than they have been in years. Hopefully political issues won't derail progress.
Caribbean islanders may
well remember 2006 as the year of the CSME an acronym
for Caribbean Single Market and Economy. The region's answer to
the European Union and South America's Mercosur, the CSME will
ultimately integrate the finances and economies of 12 signatory
countries by allowing labor and goods to move freely from one
to another, and by establishing a pan-regional monetary
authority for the first time in Caribbean history.
Six nations Barbados, Belize, Guyana, Jamaica,
Suriname and Trinidad & Tobago became the first full
members of CSME on January 1. The agreement is an "important
psychological and political step for this region," says Edwin
Carrington, secretary-general of the 15-member Caribbean
Two of the Caribbean's most important economies the
Dominican Republic and Trinidad will enjoy very strong
growth in 2006, while Jamaica is likely to show signs of
recovery, as will Cuba, which is currently...
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