1. uniform development of the area by
1. CaribbeanFree Trade Association (CARIFTA) The existence of this agreement came up withthe improvement of bonding with other Caribbean islands. It was created toencourage the quota and kinds of goods that can be sold . This was madeto encourage uniform development of the area by taking intoconsideration the following :-•EncouragingTrade – increasing sales and buying between member states• Expansionof Trade – Increasing the variety of goods and services available for trade• Loosingrestrictions – removing various taxes and tariffs on goods manufactured andsold in the area•Fairness – creating guidelines for doing and carrying up the business withappropriate rules and regulations.Mainly it was carried out by 3 countries andlater many countries became part of it.
In 1970’s CARIFTA got changed toCARICOM 2. The Caribbean Forum (CARIFORUM) The Caribbean Forum(established in1992) refers to a subclass of the African, Caribbean and Pacific group ofStates that serves as a base for negotiations regarding financial issues of theregion, with the European Union. It was formed by 15 Caribbean states, alongwith the Dominican Republic. In 2008, they entered into an ECONOMICPARTNERSHIP AGREEMENT with the EUROPEAN UNION, though Guyana and Haitiwere not a part of the signing ceremony as they expressed reservations. The functions of CARIFORUM aredescribed below :-· It manages and coordinates policy dialogue betweenits Participating States and the European Union· It promotes integration and cooperation in theCaribbean region· It coordinates the allocation of resources andmanages the implementation of Regional Indicative Programs· It provides technical guidance and assistance toParticipating States in meeting the commitments and securing the benefitsprovided for in the CARIFORUM-EU EPA; and provides support for the effectiveparticipation of CARIFORUM. 3.
CAFTA-DR (Dominican Republic-Central America FTA)The Dominican Republic-Central America FTA (CAFTA-DR) is theinitial free trade agreement between the initial free trade agreement betweenthe United States and array of small growing economies; Central Americanneighbors Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, as well asthe Dominican Republic. The CAFTA-DR encourages strong trade and investmentties, 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 unlockschances for well-paying work as goods flow across borders and are manufacturedinto 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 undercountries’ national laws.
This consists first labor argument under any freetrade agreement to assure Guatemalan workers can use their rights underGautemalan Law.· CAFTA-DR and Creating Opportunities in the Region· Trade and economic growth encourages success and strength and chancesfor people in their own country. CAFTA-DR needs for rule of law and clear andfair process in government actions create a better opt5ion for investment.
Abetter economic environment creates good opportunities for youth in their homecountry itself.
