When the curtains came down Saturday night after a series of technical, ministerial and heads of government meetings during the week in this country where the 15-member Community was inaugurated in July 1973, the "progress indicator" was pointing to:

*The long awaited Caribbean Single Market and Economy (SCME) finally coming on stream next year with at least three member states on board---Barbados, Jamaica and Trinidad and Tobago.The others will join the SCME train in 2005.

*This will be preceded by the launch in the second half of 2003 of the Caribbean Court of Justice (CCJ).

The CCJ, for which initial funding of some US$100 million is being raised---the bulk by the Caribbean Development Bank (US$96 million)--on the international monetary market, is integral to the functioning of the SCME in resolving disputes arising from interpretation of the new CARICOM Treaty.

*Forward movement also came on challenging issues of national/regional importance---crime and security: The "action plan" includes getting guns off the streets, improving intelligence gathering and "fire-power" strategies.

The Regional Security System (RSS), which currently comprises Barbados and countries of the Organisation of Eastern Caribbean States (OECS), is to become the core of a "proposed rapid response mechanism" in the fight against the criminals and those posing threats to the security of member states.

Until the RSS could be expanded to include other Community countries, among them Trinidad and Tobago, Guyana, Jamaica and Suriname, arrangements will be formalised through a Memorandum of Understanding between the RSS and non-RSS member states to share "collective expertise".

*Agreement in principle was given to recommendations from a committee of Central Bank Governors for the creation of a Regional Stabilisation Fund (RSF) with an initial capital of US$50 million in the first year, rising to some US$180 million within five years.

A final decision on the matter is to be made by the Community following a meeting on February 28 of the Monetary Council of the Eastern Caribbean Central Bank (ECCB).

The intention is to make use of the stabilisation fund to help in the revival of the regional economy at a time when most member states of CARICOM are failing to show positive growth in their Gross Domestic Product (GDP).

The end-of-meetings communique released late on Saturday night, reflected nothing of the contentious issue of political unity in the approach to new forms of governance to enhance regional integration.

*But on "governance" it confirmed that a Prime Ministerial-driven "expert group", headed by the Prime Minister of St.Vincent and the Grenadines, Ralph Gonsalves, will follow up on last Thursday's Consultation on Options for Governance in Port-of-Spain that resulted from an initiative by Prime Minister Patrick Manning.

The other Prime Ministers on the group, that will be served by top regional technocrats in preparation for a report to the 24th CARICOM Summit scheduled for Jamaica in July, are: Trinidad and Tobago's Manning, Jamaica's P.J. Patterson, Barbados's Owen Arthur and Antigua and Barbuda's Lester Bird.

*On regional and international political issues of importance to the Community, the CARICOM leaders reaffirmed their stand for a resolution to the political crisis in Venezuela by democratic, constitutional means.

And also recorded their opposition to a "war on Iraq" without exhausting diplomatic efforts and without a prior decision of the United Nations. (See story on page nine)

President of Guyana, Bharrat Jagdeo, the immediate past chairman of the Community, who presided over the 14th Inter-Sessional Meeting due to the illness of current chairman, Prime Minister Pierre Charles of Dominica, was high in praise for "our march of progress in the face of many obstacles and pressures on our human resources".

Sharing an end-of meetings media briefing with the Prime Minister of St.Kitts and Nevis, current chairman of the OECS, Denzil Douglas, and the Secretary General of CARICOM, Edwin Carrington, President Jagdeo said that many of the problems "we share as people of one region, must be resolved together". This is particularly so at this time of challenges in the area of crime and security", he said.

For Douglas the success achieved at the 14th Inter-Sessional constituted a "landmark event" that could only result in "even more progress when we hold our regular annual summit in July this year in Jamaica"

*Energy: The official communique issued on the outcome of the two-day Inter-Sesssional that was preceded by a one-day Consultation on Options for Governance on February 13, stated that the Community's leaders have agreed to establish a regional energy policy.

This decision flowed from a report on the state of the energy industry, including petroleum products and natural gas. It was presented by the Prime Minister of Trinidad and Tobago, Patrick Manning, who hosted both the Inter-Sessional and the consultation.

In reviewing the implications of fluctuating energy prices on the economies of a number of CARICOM countries, the leaders agreed to establish a Task Force to develop elements of a regional energy policy in time for consideration at the forthcoming 24th Heads of Government Conference in Jamaica in July.