CARICOM for Stronger Trade Relations

Georgetown, February 10 (PL)- The Caribbean Community (CARICOM) agreed to establish offices to facilitate trade nationally and regionally as a key to make good use of trade agreements with third countries.

During a meeting with leaders of CARICOM held in this capital, a project including current bilateral relations with the Dominican Republic, Costa Rica, Colombia, Cuba and Venezuela was reviewed.

In this regard, the reasons why trade performance is affected at times were discussed.

The Council for Trade and Economic Development had ordered last year a study with technical assistance from Spain through the Joint CARICOM-Spain Fund, as a first step to face the critical area of regional economic development.

The study´s objective is to eradicate the limitations and problems hitting results of CARICOM exports under specific bilateral trade agreements.

Once the study is complete, the Council´s recommendations to benefit the private sector in member countries of CARICOM will be made, allowing countries to take advantage of opportunities for expanding exports to those countries," said the CARICOM Secretariat.

Founded in 1973 under the Chaguaramas Treaty, in Port of Spain, CARICOM groups Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, and Trinidad and Tobago as full members.

The British Virgin Islands and Turks and Caicos are associate members of CARICOM, founded with the aim to promote economic integration and cooperation among members, secure that benefits of integration are fairly distributed, and coordinate foreign policy.