The Csm Beneficial Path or Wayward Journey
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The CSM Beneficial path or wayward journey
The first two sentences of the article reads “The Caribbean single market is now a reality (CSM). It comes into effect on January 1, 2006.” The article brings to the fore the fortunes and misfortunes associated with the reality of the Caribbean single market and the factors that affect such outcomes with a focus on productivity.
One main motive for the establishment of our Caribbean Single Market is the changes in the global economy and with the term global environment, globalization comes to mind. Globalization by definition is worldwide interdependence of resource flows, product markets and business competition that characterizes an economy.
The Caribbean Single Market (CSM) will create a wider field of opportunity for Jamaican organizations. Jamaican organizations will be able to supply goods and services to other Caribbean countries, they will be able enter into joint ventures and partnerships and benefit from a wider range of skills and competencies and other resources in other Caricom states. The CSM will create opportunities for Jamaican organizations in number of ways namely:
Improved ability to recruit skilled workers from across the region, Enhanced access to specialized training and technology transfer which will serve to expand the knowledge base and capacity building skills in various sectors and locations, Increased opportunities for intra-regional cooperation in human and social development, Increased opportunities for access to a wider market for raising capital at competitive rates, thus allowing the productive sectors to be more competitive at the Regional and international levels.
Easier access to a larger market about 14 million (including Haiti s 8.5 million), Enhanced ability to outsource production components, Improved market access for service providers, particularly in the professional sectors such as consultancy services, nurses, engineers, architects and teachers. Service providers will also enjoy equal treatment in terms of market access, Enhanced export markets and investment opportunities in the Region. This will reduce Jamaicas dependence on the export of primary agricultural products, Opportunity to pool collective resources to concentrate on selected areas of economic activity which can bring tangible benefits to us in Jamaica and the Region as a whole. For example: shipping, tourism, music