CSME is fundamental to the erasure of economic development challenges in the Caribbean region.
The Caribbean has made a fall back in their econmic development because of their abuse of natural resources and high dependence on main agricultural products(sugar and bananas).
GDP per capita of the Caribbean in comparison to that of the mentioned countries, in 1975, were almost equivalent, however, with the passing of the century the countries were ahead of the region.
T&T did not experience poor growth performance in the 1990’s , due to resurgence of oil.
GDP growth improved in the Caribbean in 2000
This was due to the the indicators of development: Income Health Education and Birth Rate
The first main economic challenge: the loss of preferential arrangements,for example,in terms of traditional agricultural exports and the necessity to make changes in the economies to meet the current global trading environment. This led to competition in export markets.
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