The Caribbean Community (CARICOM), originally the Caribbean Community and Common Market, was established by the Treaty of Chaguaramas which came into effect on 1 August 1973.The first four signatories were Barbados, Jamaica, Guyana and Trinidad & Tobago.art of the revised treaty among member states includes the establishment and implementation of the Caribbean Court of Justice. Since 2013 the CARICOM-bloc along with the Dominican Republic is tied to the European Commission via an Economic Partnership Agreements known as CARIFORUM signed in 2008.