Major economic institutions

Major economic institutions include:

(i) Caricom, COB, CAlC, and chambers of commerce and industry.

    Some functions of Caricom are:

-Economic integration through the elimination of customs duties

– Common services and functional collaboration

– The harmonization of foreign policy among members.

Some functions of the COB are:

– To help regional members in harmonization of their progressive programmes

– To organize financial resources for the progress of the region

– To fund projects and programmes contributing to development

– To motivate and persuade the expansion of capital markets within the region.

Two functions of the CAlC are:

– An information centre about the manufacturing and allocation of Caricom goods

– To help resolve confrontation between businesses from different countries.

Some functions of chambers of commerce are:

– To help look after the trading interests of members and trade in general

– To embark on settlement of disputes arising out of trade, commerce and industry

– To support and persuade the growth of production operations appropriate to the community in which they survive, and adding to the assistance of the economic wellbeing and advancement of the country