Leaders agree to transform CARIFTA into CARICOM
Labels: CARIFTA, CARICOM, Commonwealth leadersIn October 1972, Commonwealth Caribbean leaders agreed in principle to form a new Caribbean Community that would go beyond a free-trade area. They set up work to draft a treaty covering economic integration, foreign policy coordination, and practical “functional cooperation” (shared services and programs). This decision set the political direction for creating CARICOM the following year.