KINGSTOWN, St Vincent – The year 2008 is the Caribbean Community’s (Caricom) “date with destiny” for a “redefined, many-sided relationship”, for the participating countries in the emerging single economic space, according to Prime Minister Ralph Gonsalves of St Vincent and the Grenadines.

Gonsalves, the chairman of Caricom, was addressing yesterday’s opening session of the 18th inter-sessional meeting of Community leaders here.

The Caricom chairman told the meeting that 2007 is the vital preparatory year for what is envisaged for a single economy now that the single market component is a reality.

“The Community is embarked upon the building of a modern, competitive post-colonial economy which is at once national and regional. This many-sided strategic task,” he said, “has ramifications too, which focus on the social, environmental and governance issues.”

Caricom, said Gonsalves, has been resting, “sometimes comfortably, oft-times uneasily, upon three central pillars – enhancing economic integration, including intra-regional trade; the co-ordination of foreign policy; and the pursuance of a many-sided functional cooperation”.

Said the Caricom chairman: “The Community has had to practically add another pillar of co-operation in the area of regional security, and in each area of regional cooperation; there is always much more to be done.

Earlier, Prime Minister Denzil Douglas of St Kitts and Nevis, speaking as the immediate past Caricom chairman, urged his colleagues to work steadfastly to resolve all outstanding issues affecting the regional grouping. In some cases, he said, it may be necessary to devote more resources to work full time in addressing the outstanding issues.

“.But the time for action is now. We have invested heavily in the preparation for the ICC (Cricket) World Cup. Let us not waste this investment…”

The leaders quickly settled down to a packaged work agenda without the customary coffee break and were working well past a scheduled lunch break before going into a post-lunch caucus session.