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Regional Integration/Development Nexus
Caribbean StudiesAntigua State College
7th March 20119:30-10:30am
PRESENTATION OUTLINEWhat is Integration?The Objectives of the Regiobal Integration
Process in the Caribbean.What is Development?Regional Integration /Development NexusChallengesStatus of the Integration Process in the RegionImplications for other International
AgreementsConclusion
What is Regional Integration?Regional integration is a process in which
states enter into a regional agreement in order to enhance regional cooperation through regional institutions and rules. ...
Regional IntegrationRegional integration initiatives, according to Van
Langenhove, should fulfil at least eight important functions:
the strengthening of trade integration in the regionthe creation of an appropriate enabling environment for
private sector developmentthe development of infrastructure programmes in
support of economic growth and regional integrationthe development of strong public sector institutions and
good governance;the reduction of social exclusion and the development of
an inclusive civil societycontribution to peace and security in the regionthe building of environment programmes at the regional
levelthe strengthening of the region’s interaction with other
regions of the world
Regional Integration in the CaribbeanEvolution of Regional Integration
Regional Integration in the CaribbeanWest Indies FederationCariftaCaribbean Community (CARICOM)CARICOM Single Market and Economy (CSME)OECS – OECS Economic Union
Objectives of the Integration Process in the Caribbean• Improved standards of living and work;• Full employment of labour and other factors of
production;• Accelerated, co-ordinated and sustained economic
development and convergence;• Expansion of trade and economic relations with third
States;• Enhanced levels of international competitiveness;• Organisation for increased production and productivity;• The achievement of a greater measure of economic
leverage and effectiveness of Member States in dealing with third States, groups of States and entities of any description;
Objectives of the Integration Process in the CaribbeanEnhanced co-ordination of Member States'
foreign and [foreign] economic policies; andEnhanced functional co-operation, including :– more efficient operation of common services
and activities for the benefit of its peoplesaccelerated promotion of greater understanding
among its peoples and the advancement of theirsocial, cultural and technological development;intensified activities in areas such as health,
education, transportation, telecommunications.
What is Development A basic perspective equates development
with economic growth. The United Nations Development Programme
uses a more detailed definition- development is 'to lead long and healthy lives, to be knowledgeable, to have access to the resources needed for a decent standard of living and to be able to participate in the life of the community.'
Regional Integration/Development Nexus
Alternative Development Model – An alternative model or paradigm to mainstream development thinking. Alternative development has been concerned with introducing alternative practices and redefining the goals of development and the path taken to arrive at them.
Regional Integration/Development NexusDeepening Trade Liberalization – The
elimination of trade barriers , has deepened liberalization commitments among partners, lowering average levels of protection and increasing competition in our economies.
Broadening the Scope of Liberalization Disciplines – Agreements have moved beyond goods trade to effectively incorporate new disciplines in services, intellectual property rights, investments, and other issues of macro economic coordination.
Regional Integration/Development Nexus
Creating Trade – Generates completely new trade among its members.
Attracting Foreign Direct Investment – Creation of regional markets with a recognizable trademark has been a tool for distinguishing an area and its nations from other developing countries.
Regional Integration/Development Nexus
Economic Transformation – Opportunities for greater specialization in differentiated products, new investments, corporate alliances , new export experience, competitiveness and progressive completion of local markets in finance, labour and technology.
Signaling and Locking-in of Structural Reform Commitments – Establishing legally binding liberalization and policy coordination arrangements , regional integration signals to the private sector the commitment to the new market-based reforms
Regional Integration/Development NexusGeopolitical Tool – Effective organizing and joint
negotiation enhances the bargaining power beyond that which each country could have expected to achieve individually.
Enhanced Regional Cooperation – Open economies, greater regional trade and investment have fostered much cooperation.
CHALLENGESDiversity among Members :1.sizei. level of development,ii. commitment to the integration processUn-evenness in intra-regional trade
Status of the Integration Process
Signing, and implementation of the provisions of the CARICOM Single Market and Economy.
Signing of the OECS Economic Union Treaty.
Implications for Other International Agreements
Use of International Agreements as tools of development.
CONCLUSIONRegional integration has provided a backdrop
against which devlopment policy in the has been conducted, and can continue to be conducted.
This concept is deeply embedded in the regional consciousness, that any conception of development, which downplays it is considered to be inappropriate to Caribbean needs, or even disloyal to Caribbean values.