Discuss how CARICOM facilitates trade within Caribbean Countries

Expert Solution

Caricom is an organization that was founded for economic integration and cooperation between the member countries. At present, it has 15 member nations. In order to facilitate the trade between the Caribbean countries who are a member of CARICOM, it leverages the benefit of integration and foreign policy coordination among member nations. The role of CARICOM is to co-ordinate between the member countries for their economic policies and help them in their development planning which will further promote the trade between the member countries. The impetus is given on employment generation, more sales of goods and achieving efficiency in the field of logistics and production. The CARICOM approach of the single market helped in removing trade barriers like goods, services, and labor.

CARICOM also works on a special projects for countries that are relatively less developed and tries to bring the equitable sharing of benefits of CARICOM and trade.

keosha answered 1 day ago

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