How can the CCJ create a stable macro-economic environment suitable for the attraction of foreign capital?
A. The CCJ has been configured to ensure that the laws of the CSME are uniform and predictable. Firstly, the CCJ will have exclusive jurisdiction in respect of the interpretation and application of the treaty. If it had concurrent jurisdiction with other courts of the community, there is a likelihood of conflicting opinions on important economic, commercial and financial issues thereby creating uncertainty and unpredictability in the business climate and macro-economic environment! Q. So what happens where another court in the Caribbean Community is seized of an issue which involves a question concerning the interpretation and application of the treaty? Must the Court decline to accept jurisdiction and pronounce on the case? A. No! The Court must accept jurisdiction and refer the particular issue to the CCJ for determination before delivering judgment, which must respect the CCJ’s determination of the relevant issue! A similar requirement of referral obtains in the European Union and i
