WTO Approves Extension of Waiver of Caribbean Basin Economic Recovery Act

first_img Pamela Coke-Hamilton Named New Head of International Trade… Caribbean Trade Legislation Passes United States Senate – On… You may be interested in… Heeding PM Mottley’s Clarion Call for Vulnerability Index CARICOM/US Relations: Overlooking Our Connections Oct 1, 2020 Jun 10, 2020center_img Jul 27, 2020 (Guyana Ministry of Foreign Affairs Press Release) On Wednesday October 16,  the World Trade Organisation’s General Council approved the extension of the Waiver of the Caribbean Basin Economic Recovery Act (CBERA), which allows for continued duty-free access to the United States market for eligible Caribbean products, up to September 30, 2025. Through CBERA, 17 countries including the Co-operative Republic of Guyana, are beneficiaries of preferential tariff treatment intended to support the development of regional economies. The trade programme was set to expire at the end of the year. In a statement today to the World Trade Organisation (WTO), the Caribbean Community (CARICOM) noted that, “The CARICOM Region values its trading relationship with the United States and, through initiatives such as the CBERA, views it as a partner in pursuance of export diversification, spurring foreign direct investment, building competitiveness, and the economic resilience of the region.” US/CARICOM Relations: WTO CBI waiver secured, but …By Elizabeth Morgan The US request for the Most Favoured Nation (MFN) waiver for the Caribbean Basin Initiative (CBI) was approved at the General Council Meeting of the World Trade Organization (WTO) held October 15-16. The CBI comprises the Caribbean Basin Economic Recovery Act (CBERA) and the Caribbean Basin Trade…October 30, 2019In “Business”CARICOM/USA Relations: What of CBI?By Elizabeth Morgan, Specialist in International Trade Policy and International Politics You will recall from previous articles that the Caribbean Basin Initiative (CBI) comprises the Caribbean Basin Economic Recovery Act (CBERA) and the Caribbean Basin Trade Partnership Act (CBPTA). CBERA’s duration is indefinite, but CBPTA, which amends provisions of CBERA,…June 7, 2019In “CARICOM”US/CARICOM Trade: Caribbean support required for Bill to extend Caribbean Basin Initiative (CBI)By Elizabeth Morgan Countries of the Caribbean Community (CARICOM) continue to export goods to the USA under the Caribbean Basin Initiative (CBI) comprising the 1983/1990 Caribbean Basin Economic Recovery Act (CBERA) and the 2000 Caribbean Basin Trade Partnership Act (CBTPA), which grant duty free access to the US market for…February 20, 2019In “Featured”Share this on WhatsApp In 2018, CARICOM exports to the United States accounted for 32 percent of its global exports while imports from the United States into CARICOM amounted to 36 percent of CARICOM’s imports from all sources. Among products eligible under this act are textiles and apparel, energy-related products (e.g. petroleum and methanol), agricultural produce and processed foods. The Caribbean Basin Initiative (CBI) was launched in 1983 through CBERA and further expanded in 2000 under the Caribbean Basin Trade Partnership Act. Share this:PrintTwitterFacebookLinkedInLike this:Like Loading… May 13, 2020last_img