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 Suggested for common policies Domestic agriculture Preference – dependent industries Sustainable tourism Transport Information and Communication Technologies

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

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

Institutional infrastructure Existing 1. Caribbean Court of Justice 2. Standards Organization CROSQ Pending 3. Competition Commission 4. Regional Property Rights Office 5. Phyto-Sanitary Organization 6. Regional Fisheries Organization 7. Regional Development Fund 8. Regional Securities Commission 9. Conciliation Commission 10. CARICOM Commission 11. Revenue Authority 12. Court of Auditors 13. Caribbean Assembly of Parliamentarians (Upgraded) 14. Caribbean Central Bank 15. Economic and Social Committee 16. Ombudsman Office 17. Regional Environmental Organization

Thank you for your kind attention!