PORT-OF-SPAIN, Trinidad, Thurs. Nov. 11: Caricom leaders wrapped up their 10th special summit in Port-of-Spain yesterday, stating that “the core measures relating to the establishment of the Single Market would be in place by December 2005.” In a communiqué issued at the end of the meeting yesterday, leaders declared 2005 the “Year of the Single Market” but acknowledged that the key to ensuring its success was to be able to get Caribbean nationals “… to feel that they own the process and accept their responsibility for ensuring its success, recognizing that their individual and collective advancement is intrinsically linked with the regional economic integration project.” While the focus will be on the single market in 2005, the shift to a Single Market Economy may happen until 2008, officials said. “… movement from the Single Market to the Single Economy constitutes an advance beyond market arrangements to the establishment of the environment for competitive production in the region,” the communiqué stated. Regional Hurricane Disasters Heads agreed that it was clear that a comprehensive approach to disaster management is needed, in light of the recent devastating hurricanes and reiterated their commitment to seeking aid from the international donor community for Grenada. “These disasters served to re-emphasize the very vulnerable nature of Small Island Developing States and the urgent need to build resilience. The Grenadian situation, in particular, highlighted the complexity posed when a severe event impacts a vulnerable situation, resulting in devastation not only of structures but also of the very fabric of daily existence including governance, security and civil society systems,” they stated. Haiti Caricom governments again decided not to recognize the interim government of Gerard Latortue in Haiti but reiterated their commitment to the people of the strife-torn land. They also said they would assist relief efforts and help Brazil establish open dialogues among the warring factions. The Petroleum Stabilization Fund Leaders also welcomed the Petroleum Stabilisation Fund, set up by the government of T&T on behalf of CARICOM member states to support poverty reduction initiatives in the Caribbean. FTTA And they reaffirmed their support of Trinidad and Tobago in its bid to host the headquarters of the Free Trade Area of the Americas. SOURCE: HARDBEATNEWS.COM