CATEGORY- EDUCATIONAL
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The Caricom Single Market & Economy (CSME) is an arrangement, which facilitates the free movement of goods, services, labour and capital between member states of the Caricom without any barriers/tariffs so as to create a single economy and achieve harmonization in economic and trade policies.

In 1989, Caricom Heads of State took a decision to establish CSME; this decision was influenced in response to the problems faced by Caricom countries with the development of trade liberalization, globalization and restrictions on the international market. By creating a united Caribbean, members would be more equipped to handle the problems that may emerge. This development brought with it new threats but also provides new benefits.

Threats of CSME include:

a) increase competition of goods/services with the removal of restrictions and trade
barriers;
b) businesses stand the risk of financial losses, if the services/products are not of the
required standard;
c) the free movement of labour can result in the loss of key persons within organizations,
unless their salaries and benefits are comparable to other Caricom countries.

Benefits of CSME include:

a) increase opportunities for businesses, since firms would have access to a wider market
for raising capital;
b) improvement in the quality of goods and services as producers through competition
conform to higher regional standards;
c) increase choices for customers due to an influx of products and services with the
removal of trade barriers;
d) increase employment opportunities through the free movement of labour;
e) increase in trade activities stimulates economic activities thus resulting in improved
standard of living for caricom countries.

As CSME becomes a reality, there is a need for everyone to take note of what took place over the years and plan to do as well or perhaps better in 2006 and beyond.

We should therefore take into account not only our many achievements, but more so our weaknesses and put corrective strategies in place to prevent its reoccurrence. One distinct weakness is the need for all employees to become more quality conscious. The lack of interest in customer satisfaction or quality would no longer be acceptable. Customer satisfaction and expectation must become an integral part of every department be it production, technical, accounting, administration, sales or marketing if businesses in Grenada are to survive in this new competitive environment, thus small and medium size enterprises must improve quality, competitiveness and management practices to ensure their survival.

In other words, quality has become the means by which manufacturers of goods and providers of services seek to compete favourable. The prevention of waste in terms of time, materials and money has become an absolute necessity. The need for awareness and compliance with specifications in terms of both design and national specifications are crucial. Customer perception of the products and services offered locally needs to be favourable at all times. In order for improved customer perception to be sustained, this requires an increase in quality consciousness to permeate the entire industry. Put simply every individual in the various department must play their role in ensuring that all end product or service offered to customers are of acceptable quality.

The Grenada Bureau of Standards has been organizing training in total quality management, quality auditing, quality competitiveness, environmental quality management and other relevant areas over the past five years in collaboration with the other bureaux of standards in the Caribbean and other territories. A number of these training courses are again planned for this year.




All interested persons can contact the Bureau at the earliest convenience at telephone #s 440-5886/6783.