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PROTOCOL AMENDING THE TREATY ESTABLISHING THE CARIBBEAN COMMUNITY (PROTOCOL III: INDUSTRIAL POLICY)

(continued)

ARTICLE XI
Replace Article 46 with the following:
"Article 46 Environment

  1. The Community Industrial Policy shall be implemented in a manner that ensures the prudent and rational management of the resources of Member States. In particular, the Community shall promote measures to ensure:

    1. the preservation, protection and improvement of the quality of the environment;

    2. the protection of human, animal and plant life or health; and

    3. the adoption of initiatives at the Community level to address regional environmental problems.

  2. In formulating measures in relation to the environment, the Community shall take account of:

    1. available and accessible scientific and technical data;

    2. environmental conditions in the Member States;

    3. the potential costs and benefits of action or inaction;

    4. the economic and social development of the Community as a whole and the balanced development of Member States;

    5. the precautionary principle and those principles relating to preventive action, rectification of environmental damage at source and the principle that the polluter pays; and

    6. the need to protect the Region from the harmful effects of hazardous materials transported, generated, disposed of or shipped through or within the Community.
       

  3. In performing its functions under this Protocol, the COTED shall ensure a balance between the requirements of industrial development and the protection and preservation of the environment.

  4. In giving effect to this Article the Community and Member States shall, within their respective spheres of competence, co-operate with third States and competent environmental organisations."


ARTICLE XII
Replace Article 47 with the following:
"Article 47 Standards and Technical Regulations

  1. The COTED shall, in collaboration with competent agencies, develop a standardisation programme in furtherance of the objectives of this Protocol and consistent with the international obligations of Member States.

  2. In implementing the programme, Member States shall not use standards, technical regulations and conformity assessment procedures as barriers to trade.

  3. The programme shall have the following objectives:

    1. trade facilitation;

    2. enhanced efficiency in the production and delivery of goods and services;

    3. improved quality of goods and services traded within the Community and with third States; and

    4. consumer and environmental protection.
       

  4. The programme shall include the following elements:

    1. harmonisation of standards and technical regulations, and transparency in the development and promulgation of standards and technical regulations;

    2. recognition of conformity assessment procedures through mutual recognition agreements or other means;

    3. facilitation of standards infrastructure development at the national and regional levels;

    4. facilitation of metrology infrastructure development; and

    5. arrangements for the exchange of information with respect to development and implementation of standards and technical regulations among the parties to the Treaty.
       

  5. The Community shall promote the establishment of a regional standardising body which shall, inter alia:

    1. facilitate implementation of the standardisation programme;

    2. assist Member States in understanding and fulfilling their obligations under this Treaty and other international agreements;

    3. promote the development of national standards bodies in Member States; and

    4. facilitate access to technical assistance available in Member States and in third States.

    5. For the purposes of this Article, the following definitions apply:

      1. "Technical Regulations" means regulations which lay down product characteristics or their related processes and production methods, including the applicable administrative provisions, with which compliance is mandatory. The term may also include or deal exclusively with terminology, symbols, packaging, marking or labelling requirements as they apply to a product, process or production method.

      2. "Standard" means a guideline approved by a recognised body, that provides, for common and repeated use, rules, guidelines or characteristics for products or related processes and production methods, with which compliance is not mandatory. The term may also include or deal exclusively with terminology, symbols, packaging, marking or labelling requirements as they apply to a product, process or production method.

      3. "Conformity Assessment Procedures" includes any procedure used, directly or indirectly, to determine that relevant requirements in technical regulations or standards are fulfilled."


ARTICLE XIII
Replace Article 50 with the following:
"Article 48

Community Investment Policy

The COTED in collaboration with the Council for Finance and Planning (hereinafter referred to as "the COFAP") and the COHSOD shall establish a Community Investment Policy which shall include sound national macro-economic policies, a harmonised system of investment incentives, stable industrial relations, appropriate financial institutions and arrangements, supportive legal and social infrastructure and modernisation of the role of public authorities."


ARTICLE XIV
Insert new Article to read as follows:
"Article 49 Harmonisation of Investment Incentives

  1. Member States shall harmonise national incentives to investments in the industrial, agricultural and services sectors.

  2. The COFAP shall, consistent with relevant international agreements, formulate proposals for the establishment of regimes for the granting of incentives to enterprises in the sectors mentioned in paragraph 1. In particular, such proposals shall accord support for industries considered to be of strategic interest to the Community.

  3. In formulating the proposals mentioned in paragraph 2, the COFAP shall give due consideration to the peculiarities of the industries concerned and, without prejudice to the generality of the foregoing, may provide for the following:

    1. national incentives to investment designed to promote sustainable, export-led industrial and service-oriented development;

    2. investment facilitation through the removal of bureaucratic impediments; and

    3. non-discrimination in the granting of incentives among Community nationals."


ARTICLE XV
Insert new Article to read as follows:
"Article 49a Macro-Economic Policies

  1. The COFAP shall formulate proposals and adopt appropriate measures to promote a sound macro-economic environment in Member States, consistent with their obligations under this Treaty and applicable international agreements.

  2. The COFAP shall, in collaboration with other competent organs, promote economic development in Member States through the development and application of convergent macro-economic policies to ensure fiscal discipline, favourable balance-of-payments, stable currencies and moderate prices without prejudice to securing high levels of employment.

  3. The COFAP shall collaborate with the Council for Foreign and Community Relations (hereinafter referred to as "the COFCOR") and the COTED in co-ordinating:

    1. the economic policies of Member States; and

    2. the positions and presentations of Member States in all international economic, financial and trade meetings at which they are represented.
       

  4. In support of the development of macro-economic policies, the Community shall provide for harmonisation of the output of the statistical services of Member States."


ARTICLE XVI
Insert new Article to read as follows:
"Article 49b Industrial Relations

The COHSOD shall, in consultation with the COTED, formulate proposals and adopt appropriate measures for the promotion of harmonious, stable and enlightened industrial relations in the Community. In formulating such measures and proposals, the COHSOD shall, inter alia, promote:

  1. the objectives of full employment, improved living and working conditions; adequate social security policies and programmes; tripartite consultations among governments, workers' and employers' organisations; and cross-border mobility of labour;

  2. the recognition of the principle of non-discriminatory treatment among Community workers in the pursuit of employment within the Community;

  3. the establishment and maintenance of effective mechanisms for the enhancement of industrial relations, particularly that of collective bargaining; and

  4. awareness among Community workers and employers that international competitiveness is essential for social and economic development of Member States and requires collaboration of employers and workers for increased production and productivity in Community enterprises."


ARTICLE XVII
Insert new Article to read as follows:
"Article 49c Financial Infrastructure

The COFAP shall adopt proposals for the establishment of financial infrastructure supportive of investments in the Community. In particular, the COFAP shall assist Member States in establishing capital markets, financial institutions and appropriate financial instruments to facilitate capital investment on a sustainable basis."


ARTICLE XVIII
Insert new Article to read as follows:
"Article 49d Legal Infrastructure

  1. The Legal Affairs Committee shall co-operate with competent organs of the Community to advise Member States on the legal infrastructure required to promote investments in the Member States, including cross-border investments, bearing in mind the provisions of Article 49c.

  2. Member States shall harmonise their laws and administrative practices in respect of, inter alia:

    1. companies or other legal entities;

    2. intellectual property rights;

    3. standards and technical regulations;

    4. labelling of food and drugs;

    5. sanitary and phytosanitary measures;

    6. restrictive business practices;

    7. dumping;

    8. subsidies and countervailing measures; and

    9. commercial arbitration."


ARTICLE XIX
Insert new Article to read as follows:
"Article 49e Double Taxation Agreements

  1. Member States shall conclude among themselves an agreement for the avoidance of double taxation in order to facilitate the free movement of capital in the Community.

  2. Member States shall conclude their double taxation agreements with third States on the basis of mutually agreed principles which shall be determined by COFAP."


ARTICLE XX
Insert new Article to read as follows:
Article 50 Development of Social Infrastructure

  1. In establishing its industrial policy, the Community shall promote appropriate measures for the establishment of adequate social infrastructure, the alleviation of poverty, and securing social stability in Member States.

  2. Without prejudice to the generality of the foregoing, the Community shall promote in Member States:

    1. the establishment and improvement of health, education, sports and social security institutions and facilities;

    2. conclusion of reciprocal social security agreements among Member States in order to facilitate the movement of skills; and

    3. training and retraining of workers, mobility of instructors and trainees, co-operation among educational and training institutions, and the development of distance education.

  3. Member States shall engender an understanding and appreciation of the Community through effective public relations, educational, cultural and youth exchange programmes."


ARTICLE XXI
Insert new Article to read as follows:
"Article 50a Role of Public Authorities

The COTED shall promote the modernisation of government bureaucracies by, inter alia:

  1. encouraging the development of closer contacts between public sector administrations, industry and other stakeholders to ensure that challenges presented by the global environment are understood and co-operative solutions developed;

  2. removing impediments and improving the regulatory framework for economic enterprises at national and regional levels;

  3. encouraging cost-effectiveness in the delivery of services to the public; and

  4. proposing adequate arrangements to address the changes in the business environment and future challenges to industry."


ARTICLE XXII
Insert new Article to read as follows:
"Article 50b Special Provisions for Less Developed Countries

Where in this Protocol Member States or competent Organs are required to adopt measures for the achievement of the Community Industrial Policy, the special needs and circumstances of the Less Developed Countries shall be taken into account." 


ARTICLE XXIII
Signature

This Protocol shall be open for signature by the Member States on the thirtieth day of June, 1998. 


ARTICLE XXIV
Ratification

This Protocol shall be subject to ratification by signatory States in accordance with their respective constitutional procedures. Instruments of ratification shall be deposited with the Secretariat which shall transmit certified copies to the Government of each Member State.


ARTICLE XXV
Accession

Any Member State other than a signatory State may accede to this Protocol. An Instrument of Accession shall take effect on the date on which the Instrument is deposited with the Secretariat of the Community. 


ARTICLE XXVI
Entry Into Force

This Protocol shall enter into force one month after the date on which the last Instrument of ratification is deposited with the Secretariat. 


ARTICLE XXVII
Provisional Application

  1. A Member State may, upon the signing of this Protocol or at any later date before it enters into force, declare its intention to apply it provisionally.

  2. Upon such declaration, the provisions of this Protocol shall be applied provisionally pending its entry into force in accordance with Article XXVI.

 

IN WITNESS WHEREOF the undersigned duly authorized in that behalf by their respective Governments have executed this Protocol.

DONE at ______________________on the ___________________ day of ____________ 1998.

Signed by

for the Government of Antigua and Barbuda on the day of 1998 at

Signed by

for the Government of Barbados on the day of 1998 at

Signed by

for the Government of Belize on the day of 1998 at

Signed by

for the Government of the Commonwealth of Dominica on the day of 1998 at

Signed by

for the Government of Grenada on the day of 1998 at

Signed by

for the Government of the Co-operative Republic of Guyana on the day of 1998 at

Signed by

for the Government of Jamaica on the day of 1998 at

Signed by

for the Government of Montserrat on the day of 1998 at

Signed by

for the Government of St. Kitts and Nevis on the day of 1998 at

Signed by

for the Government of Saint Lucia on the day of 1998 at

Signed by

for the Government of St. Vincent and the Grenadines on the day of 1998 at

Signed by

for the Government of The Republic of Suriname on the day of 1998 at

Signed by

for the Government of The Republic of Trinidad and Tobago on the day of 1998 at

DECLARATION

The representatives of the under-mentioned Governments hereby declare their intention to apply provisionally the provisions of Protocol V:

Signed by

for the Government of Antigua and Barbuda on the day of 1998 at

Signed by

for the Government of Barbados on the day of 1998 at

Signed by

for the Government of Belize on the day of 1998 at

Signed by

for the Government of the Commonwealth of Dominica on the day of 1998 at

Signed by

for the Government of Grenada on the day of 1998 at

Signed by

for the Government of the Co-operative Republic of Guyana on the day of 1998 at

Signed by

for the Government of Jamaica on the day of 1998 at

Signed by

for the Government of Montserrat on the day of 1998 at

Signed by

for the Government of St. Kitts and Nevis on the day of 1998 at

Signed by

for the Government of Saint Lucia on the day of 1998 at

Signed by

for the Government of St. Vincent and the Grenadines on the day of 1998 at

Signed by

for the Government of The Republic of Suriname on the day of 1998 at

Signed by

for the Government of The Republic of Trinidad and Tobago on the day of 1998 at