CARICOM, which stands for the Caribbean Community and Common Market, is a regional organization that was established in 1973. It comprises 15 Caribbean countries and territories, including Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, and the Turks and Caicos Islands.
CARICOM was created to promote economic integration and cooperation among its member states. The organization aims to enhance the economic, social, and cultural development of its members through the implementation of common policies and programs. Some of the key areas of focus for CARICOM include trade and economic development, foreign policy coordination, and regional security.
One of the most significant agreements governing the operations of CARICOM is the Revised Treaty of Chaguaramas. This treaty, which was first signed in 1973 and amended in 2001, provides the legal framework for the functioning of the CARICOM Single Market and Economy (CSME). The CSME is a regional initiative that seeks to create a single economic space within CARICOM by allowing for the free movement of goods, services, people, and capital.
Other important agreements that govern the operations of CARICOM include the Treaty of Basseterre, which established the Organization of Eastern Caribbean States, and the Treaty of Chaguaramas Establishing the Caribbean Court of Justice. The latter is a regional court that was established to interpret and apply the CARICOM treaties and agreements.
Overall, CARICOM is a regional agreement that seeks to promote economic and social development in the Caribbean region. Through its various agreements and initiatives, CARICOM aims to foster greater integration and cooperation among its member states, as well as to create opportunities for economic growth and development.