What was the first form of integration in the Caribbean?

What was the first form of integration in the Caribbean?

In 1965, three Caribbean nations Antigua, Barbados and Guyana initiated the Caribbean trade integration process by signing the Treaty of Dicksenson Bay, which established the Caribbean Free Trade Association (CARIFTA).

What are the four main pillars of CARICOM regional integration?

The Caribbean Community stands on four pillars: economic integration; human and social development (formerly functional cooperation), foreign policy coordination and security.

What is economic integration in relation to CARICOM?

Economic integration among the countries in the Caribbean region has a long history. A free trade area (CARIFTA) was established in 1968 and replaced in 1973 by a further reaching agreement of regional integration, the Caribbean Community (CARICOM).

What is Caribbean integration movement?

(CARIFTA), the Caribbean Community and Common Market (CARICOM) was created; and the Caribbean integration movement became the first example of a free trade area moving to a customs union. This change provides an appropriate context for the study of the politics of regional integration in the Third World. ‘

What are the steps to regional integration?

Specialists in this area define seven stages of economic integration: a preferential trading area, a free trade area, a customs union, a common market, an economic union, an economic and monetary union, and complete economic integration.

What are the stages of regional integration?

What is meant by economic integration?

Economic integration is an arrangement among nations that typically includes the reduction or elimination of trade barriers and the coordination of monetary and fiscal policies.

What is regional Caribbean integration?

Regional integration is the process by which two or more nation-states agree to co-operate and work closely together to achieve peace, stability and wealth. Regional Integration in the Caribbean is mainly through the Caribbean Community, or CARICOM.

What are the 4 types of economic integration?

There are four main types of regional economic integration.

• Free trade area. This is the most basic form of economic cooperation.
• Customs union. This type provides for economic cooperation as in a free-trade zone.
• Common market.
• Economic union.

What are the five different types of economic integration?

Economic integration can be classified into five additive levels, each present in the global landscape:

• Free trade. Tariffs (a tax imposed on imported goods) between member countries are significantly reduced, some abolished altogether.
• Custom union.
• Common market.
• Economic union (single market).
• Political union.

What are the 5 stages of regional integration?

Terms in this set (5)

• free trade area. A group of countries committed to removing all barriers to the free flow of goods and services between each other, but pursuing independent external trade policies.
• customs union.
• common market.
• economic union.
• political union.