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CSME Deadline Will Not Be Extended Beyond 2005, Warns CARICOM Secretary General

by Amanda Banks, Tax-News.com, London

30 June 2005

Member States of the Caribbean Community (CARICOM) that are experiencing setbacks in being CSME-ready by December 2005 will not be granted an extension to the deadline, CARICOM Secretary-General Edwin Carrington has warned.

Addressing the media in St Lucia, Mr. Carrington said while there was no indication that Member States were having a difficult time in meeting the deadline, there was no question of an extension of time for States to become CSME-ready by the end of the year.

“I just don’t think it’s on. It’s not in our interest to delay,” Mr Carrington remarked.

“Every day we delay getting there, we enhance the danger. We need to get there as quickly as possible so as to get ourselves ready to deal with that avalanche of challenge that is coming, and believe me, it's coming,” he added.

Mr Carrington noted that Jamaica, Barbados and Trinidad and Tobago were already CSME-ready and explained that the Community was counting on all Member States being ready by the end of December. “So those who are having particular difficulties need to signal their distress as soon as possible in order that they can be helped,” he affirmed.

The Secretary General stated that it was important to have the CSME in place, because: "from a platform where we have a single economic space and agreed policies, we are better able to respond to the oncoming challenges that will be posed by the WTO and the FTAA.”

“If we do face these challenges as individual states, I don’t think we have a ghost of a chance. So to me, building the CSME is the precondition for being able to respond adequately to those issues posed by the new trading regimes,” Mr. Carrington noted.

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