To encourage trade between CARICOM member states it was decided that manufacturers within the CSME should first seek and purchase within the CSME.
The Suspension Mechanism was set in place to administratively handle this procedure and grant suspension to acquire from outside the CSME if the
product is not available within the CSME. This procedure has shown to be cumbersome, time consuming and sensitive to time constraints.
The CARICOM INTERACTIVE MARKETPLACE & SUSPENSION PROCEDURE will create a managed market place for CARICOM companies to post (not only)
their raw materials and packaging but also their finished products to the CSME purchasers initially and to the rest of the world within 1 year of launch.
This system does require some discipline of the seller to maintain their “portfolio” online. The seller is responsible for up to date information of their products.
A purchaser can be matched immediately with a supplier and in the CSME case, bypassing the suspension procedure. If this match was not made or
the product does not meet the ‘technical’ requirements the suspension procedure will still be put into effect because the system has already created a
trail of the transaction thus making filing another request not necessary. This method should relief the Secretariat of the time consuming task of
matching purchasers and suppliers while keeping an audit trail of the procedure.