The intention is to reduce the economic vulnerability of regional economies by providing an avenue to expand trade and investment opportunities, thereby lowering consumer prices and improving standards of living across the region. Enhanced levels of competitiveness should result from the extension of the gains of specialisation in production and should fortify the region’s position in the global economy.
There will, however, be losers and gainers. CSME will influence all spheres of economic activity across Barbados, potentially translating into significant gains for the more efficient business entities. It has already contributed to the demise of some of the less efficient companies.