Caribbean Court of Justice by the CSME are so important and extensive, relating to the establishment of economic enterprises, the provision of professional services, the movement of capital, the acquisition of land for the operation of businesses, that there is a clear need to have a permanent, central, regional institution to authoritatively and definitively pronounce on those rights and corresponding obligations. The Caribbean Court of Justice is intended to be such an authoritative institution." The official inauguration was held in Queen's Hall, Port of Spain, Trinidad and Tobago, on Saturday 16 April 2005. The first case heard by the CCJ was in August 2005
Rafael Cordero Santiago Port of the Americas and impact on local economies. These studies revealed the need for a large transshipment port in the Caribbean region to facilitate distribution from the emerging markets in Asia and the US west coast to the eastern coasts of North, Central and South America. The government also found that Puerto Rico had several advantages over its Caribbean competitors, which included first-class infrastructure (such as highways and several airports), strong economic and political ties with the United States, and the island’s close proximity to the Mona Passage (a large and deep channel between Puerto Rico and the Dominican Republic through which most