abhishreshthaa
Abhijeet S
CENTRAL AMERICAN COMMON MARKET AND CARICOM
Two other trade pacts in the Americas have not made much progress yet. In the early 1960, Costa Rica, el Salvador, Guatemala, and Nicaragua attempted to set up q central American common market.
It collapsed in 1969 when war broke out between Honduras and El Salvador after a riot at a soccer match between teams from the two countries. Now the five countries are trying to revive agreement although no definite progress has been made.
A customs union was to have been created in 1991 between the English speaking Caribbean countries under the auspices of the Caribbean community. Referred to as CARICOM, it was established in 1973.
However it has repeatedly failed to progress toward economic integration. A formal commitment to economic and monetary union was adopted by CAICOM’s member states in 1984 but since then little progress has been made. In October 199 the CARICOM government failed for the third consecutive time, to meet a deadlines for establishing a common external tariffs.
Two other trade pacts in the Americas have not made much progress yet. In the early 1960, Costa Rica, el Salvador, Guatemala, and Nicaragua attempted to set up q central American common market.
It collapsed in 1969 when war broke out between Honduras and El Salvador after a riot at a soccer match between teams from the two countries. Now the five countries are trying to revive agreement although no definite progress has been made.
A customs union was to have been created in 1991 between the English speaking Caribbean countries under the auspices of the Caribbean community. Referred to as CARICOM, it was established in 1973.
However it has repeatedly failed to progress toward economic integration. A formal commitment to economic and monetary union was adopted by CAICOM’s member states in 1984 but since then little progress has been made. In October 199 the CARICOM government failed for the third consecutive time, to meet a deadlines for establishing a common external tariffs.