sentences:  The 1972 Conference also agreed to deepen fiscal, financial and monetary cooperation within the Commonwealth Caribbean and to that end established a Standing Committee of Ministers of Finance of CARIFTA member states and The Bahamas as a permanent institution for regional economic cooperation.In April 1973, at the final meeting of the Commonwealth Caribbean Heads of Government before the establishment of the Caribbean Community, the Conference welcomed the upcoming independence of The Bahamas in July 1973 and looked forward to its participation in the Caribbean Community.While initially envisaged as being potential members of a Caribbean Economic Community by Trinidad & Tobago's Prime Minister, Dr. Eric Williams, when he first enunciated such a vision in January 1962, the talks between Trinidad & Tobago and Surinam (as it was then called until 1978 when it officially changed its name to Suriname) and the Netherlands Antilles in March 1962 were not successful.