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Last updated: 06 July, 2009 - Published 06:24 GMT
 
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Caricom summit ends
 
Caricom deliberations

Caricom leaders wrapped up their weekend summit with promises to set up a regional passport-free zone, tighter financial regulation, and the consolidation of regional institutions.

In their final communique, issued on Sunday, the leaders did ackowldge growing concern with the pace of regional integration.

"We remain full cognisant however of the desire of the people of the Community for more tangible results from the efforts at integration and undertake to be responsive to those desires," the draft additional declaration to the communique stated.

CSME issues

Ahead of their meeting, the biggest single issue had been the exchange of words on freedom of movement.

The communique put aside a whole section of free movement re-affirming that migration is a "human right" and that "all mgrants should be accorded humane treatment."

The leaders agreed to hold a separate session on free movement in October to lay down a timetable for the process.

They also agreed for "training and sensitising immigration officers" on free movement.

The leaders also spoke of a passport-free zone - a "single domestic space including the removal of the requirements for passports for Caricom nationals travelling within the community."

Financial regulation

Following problems with financial institutions such as Clico, whose pan-Caribbean interests, forced governments to implement emergency measures and the Trinidad government into a bailout, there was a detailed declaration on the financial sector.

Leaders say they're considering a College of Regulators and committed to a "vigorous and intensive" review of the regulatory and supervisory system.

On international financial centres, the communique asked for equal treatment for offshore centres as granted to "other preferential jurisdictions."

 
 
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