CONTACT Magazine (Vol.18 No.3 – December 2018)

www.chamber.org.tt/contact-magazine 31
Country/
country
grouping
Market
size
(2017,
millions)
Name of trade agreement/date of
signature
Cuba 11.5 Caricom-Cuba Agreement on Trade
and Economic Cooperation
Signed: July 5, 2000
European
Union
508 Cariforum-European Union
Economic Partnership Agreement
Signed: October 15, 2008
Type of
agreement
Partial scope
agreement
Two-way
arrangement
Free trade
agreement
Two-way
arrangement
Main provisions
The agreement contains articles related to:
market access, rules of origin, technical
standards, safeguards, unfair trade practices, and
anti-competitive business practices
The agreement contains articles related to: trade
in goods – market access, rules of origin, product
specific rules of origin, customs duties, antidumping
and countervailing measures,
safeguards, and technical barriers to trade
Opportunities available
• Duty-free access on a selected list of
products
• Access to market support through the
Trade Facilitation Office in Cuba
• The most comprehensive trade agreement
signed by T&T; offers preferential access to
a list of products
• Affords development assistance to fund
key projects within the region under the
European Development Fund
Trinidad and Tobago Chamber
of Industry and Commerce
Venezuela 31.9 Caricom-Venezuela Agreement on
Trade, Economic and Technical
Cooperation
Signed: October 13, 1992
Colombia 49.1 Agreement on Trade, Economic
and Technical Cooperation
between Caricom and the
Government of the Republic of
Colombia
Signed: July 24, 1994
Panama 4.1 Trinidad and Tobago-Panama
Partial Scope Trade Agreement
Signed: October 3, 2013
Partial scope
agreement
One-way
arrangement
in favour of
Caricom
Partial scope
agreement
Two-way
arrangement
Partial scope
agreement
Two-way
arrangement
The agreement contains articles related to:
market access, rules of origin, safeguards, and
unfair trade practices
The agreement and its protocols contain articles
related to: market access, treatment of used
goods, rules of origin, technical standards,
safeguards, and unfair trade practices
The agreement contains articles related to:
market access, rules of origin, safeguards, antidumping
and countervailing measures, sanitary
and phytosanitary standards, technical barriers
to trade, and trade facilitation
• Elimination of tariffs on a selected list of
Caricom products
• Provides mechanism for settlement of
disputes
• Joint Council framework to facilitate
expansion of the agreement and address
trade issues
• Duty-free access for a selected list of
products; opportunity for future
liberalisation of trade in services
• Future negotiation of a bilateral
investment treaty
• Promotes technical cooperation in a
number of areas such as human resource
development, science and technology, and
tourism, through exchanges among
universities
• Joint Council framework to facilitate
expansion of the agreement and address
trade issues
• Duty-free access for a selected list of
products
• Development of a technical cooperation
work programme to improve trade
facilitation between the two countries
• Future negotiation of a bilateral
investment treaty within one year
• Future liberalisation of trade in services in
sectors such as ICT, financial services,
education and transport services, within
two years