What Does Carifta Stand For?

CARIFTA stands for Caribbean Free Trade Association. It was found on 15th Dec, 1965. Initially there were Antigua, Barbuda, Guyana, Barbados, and Trinidad and Tobago as the member nations. The group was joined by Grenada, Saint Lucia, Saint Vincent, Dominica, St Kitts-Nevis-Anguilla and the Grenadines in 1968. Finally by the year 1971, countries like Jamaica, Montserrat and Belize formed a part of the association.

Since the Caribbean nations have recently become independent, the CARIFTA was made to integrate their economies and to give these member nations a formidable front in the international trade scene. Increase of trade, diversification of trade, liberalization of trade and promotion of fair and healthy competition are the main features of the CARIFTA. The CARIFTA was rechristened as CARICOM (Caribbean Community) in the year 1973.

CARIFTA stands for Caribbean Free Trade Area and was formed in 1968. I t was to foster economic and social development by encouraging free trade among member states.This involved the removal of customs, duties, taxes and licensing arrangements which previously stifled a greater volume of trade amoung the islands.
 
Unlike federation, CARIFTA did not fail. The benefits to member states of co-operating  in the free trade were numerous. The members of CARIFTA, therefore,decided to enlarge and deepen co-operating by forming CARICOM in 1973.
 
Done by: Amanda Ali