By: Marion Barbel - Global Insight

Haitian legislators ratified the modified treaty of Chaguamaras yesterday, opening the way for Haiti's slow integration process into the Caribbean Single Market (CSM) scheme. The ratified treaty must still be submitted to the Caribbean Community (CARICOM) to be fully registered, and this formality should be completed within the coming weeks. The ratification of the treaty follows the re-opening, last week, of a CARICOM office in Haiti.

Significance: Haiti rejoined the CARICOM last year, in the wake of the election of President Rene Preval after a couple of years' political turmoil excluded it from the group. The comeback of the impoverished nation is welcomed from both an economic and diplomatic perspective. Various steps to catch up with regional scheme are seen as a positive development for the country in its bid to re-embark on development and economic and social regional projects.