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REVISED TREATY OF CHAGUARAMAS
REVISED
ESTABLISHING
THE CARIBBEAN COMMUNITY
INCLUDING THE CARICOM
SINGLE MARKET AND ECONOMY

© 2001 Caribbean Community (CARICOM) Secretariat

REVISED TREATY OF CHAGUARAMAS ESTABLISHING THE CARIBBEAN
COMMUNITY INCLUDING THE CARICOM SINGLE MARKET AND ECONOMY
PREAMBLE
The States Parties to the Treaty Establishing the Caribbean Community and CommonMarket signed at Chaguaramas on 4 July 1973,
Recalling the Declaration of Grand Anse and other decisions of the Conference of
Heads of Government, in particular the commitment to deepening regional economic integration
through the establishment of the CARICOM Single Market and Economy (CSME) in order to achieve
sustained economic development based on international competitiveness, co-ordinatedeconomic and
foreign policies, functional co-operation and enhanced trade and economic relations with third States;
Recognising that globalisation and liberalisation have important implications for
international competitiveness;
Determined to enhance the effectiveness of the decision-making and implementation
processes of the Community;
Desirous of restructuring the Organs and Institutions ofthe Caribbean Community
and Common Market and redefining their functional relationships so as to enhance the participation
of their peoples, and in particular the social partners, in the integration movement;
Conscious of the need to promote in the Community the highest level of efficiency
in the production of goods and services especially with a view to maximising foreign exchange
earningson the basis of international competitiveness, attaining food security, achieving structural
diversification and improving the standard of living of their peoples;
Aware that optimal production by economic enterprises in the Community requires
the structured integration of production in the Region, and particularly, the unrestricted movement of
capital, labour and technology;
Resolved toestablish conditions which would facilitate access by their nationals to
the collective resources of the Region on a non-discriminatory basis;
Convinced that market-driven industrial development in the production of goods and
services is essential for the economic and social development of the peoples of the Community;
Cognisant that a fully integrated and liberalised internal market will createfavourable
conditions for sustained, market-led production of goods and services on an internationally competitive
basis;
Desirous further of establishing and maintaining a sound and stable macro-economic
environment that is conducive to investment, including cross-border investments, and the competitive
production of goods and services in the Community;
Believing that differences inresource endowment and in the levels of economic
development of Member States, may affect the implementation of the Community Industrial Policy;
Recognising also the potential of micro, small, and medium enterprise development
to contribute to the expansion and viability of national economies of the Community and the importance
of large enterprises for achieving economies of scale in theproduction process;

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Mindful that co-operation and joint action in developing trade relations with third
States and in establishing appropriate regulatory and administrative procedures and services are
essential for the development of the international and intraregional trade of Member States;
Determined further to effect a fundamental transformation of the agricultural sector
of the Communityby diversifying agricultural production, intensifying agro-industrial development,
expanding agri-business, strengthening the linkages between the agricultural sector and other sectors
of the CSME and generally conducting agricultural production on a market-oriented, internationally
competitive and environmentally sound basis;
Acknowledging the vital importance of land, air and maritime...