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1. uniform development of the area by

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1.    
Caribbean
Free Trade Association (CARIFTA)

 

The existence of this agreement came up with
the improvement of bonding with other Caribbean islands. It was created to
encourage the quota and kinds of goods that can be sold .  This was made
to encourage  uniform development  of the area by taking into
consideration the following :-

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•Encouraging
Trade – increasing sales and buying between member states
• Expansion
of Trade – Increasing the variety of goods and services available for trade
• Loosing
restrictions – removing various taxes and tariffs on goods manufactured and
sold in the area

Fairness – creating guidelines for doing and carrying up the business with
appropriate rules and regulations.
Mainly it was carried out by 3 countries and
later  many countries became part of it. In 1970’s CARIFTA got changed to
CARICOM

 

 

2.     The Caribbean Forum (CARIFORUM)

 

The Caribbean Forum(established in
1992) refers to a subclass of the African, Caribbean and Pacific group of
States that serves as a base for negotiations regarding financial issues of the
region, with the European Union. It was formed by 15 Caribbean states, along
with the Dominican Republic. In 2008, they entered into an ECONOMIC
PARTNERSHIP AGREEMENT with the EUROPEAN UNION, though Guyana and Haiti
were not a part of the signing ceremony as they expressed reservations.

 

The functions of CARIFORUM are
described below :-

·        
It manages and coordinates policy dialogue between
its Participating States and the European Union

·        
It promotes integration and cooperation in the
Caribbean region

·        
It coordinates the allocation of resources and
manages the implementation of Regional Indicative Programs

·        
It provides technical guidance and assistance to
Participating States in meeting the commitments and securing the benefits
provided for in the CARIFORUM-EU EPA; and provides support for the effective
participation of CARIFORUM.

 

3.    
CAFTA-DR (Dominican Republic-Central America FTA)

The Dominican Republic-Central America FTA (CAFTA-DR) is the
initial free trade agreement between the initial free trade agreement between
the United States and array of small growing economies; Central American
neighbors Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, as well as
the Dominican Republic. The CAFTA-DR encourages strong trade and investment
ties, success and strength all over the area and along the southern zone.

Some Factors of the CAFTA-DR

·        
CAFTA-DR and Regional Manufacturing;

·        
Trade under CAFTA-DR keep up made in America jobs and unlocks
chances for well-paying work as goods flow across borders and are manufactured
into final goods.

·        
CAFTA-DR and Labor

·        
CAFTA-DR is making worker’s rights and condition in the area,
through applying labor protections to which its workers are entitled under
countries’ national laws. This consists first labor argument under any free
trade agreement to assure Guatemalan workers can use their rights under
Gautemalan Law.

·        
CAFTA-DR and Creating Opportunities in the Region

·        
Trade and economic growth encourages success and strength and chances
for people in their own country. CAFTA-DR needs for rule of law and clear and
fair process in government actions create a better opt5ion for investment. A
better economic environment creates good opportunities for youth in their home
country itself.

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