CARICOM-Canada Negotiations

Trinidad and Tobago as part of CARICOM is currently engaged in negotiations of a CARICOM- Canada Trade and Development Agreement. This is due to the eminent expiration of the World Trade Organization (WTO) waiver (approval) of the CARIBCAN (one-way preferential arrangement) on 31 December 2011.

The CARIBCAN Arrangement permits the Government of Canada to provide duty free imports of eligible products from Commonwealth Caribbean countries without being required to extend the same duty free treatment to like products of any other contracting party.

The main objective of Trinidad and Tobago’s participation in the negotiations of the proposed agreement is to further the national trade development agenda by providing a more secure and predictable market access for locally produced goods exported to Canada; expand the agreement to include trade in services and investment; provide for the settlement of disputes; and solidify development support and funding for the adjustment to liberalization.

To date, CARICOM and Canada have been engaged in two (2) negotiating rounds from November 10 -12, 2009 and March 28 -31, 2010 in Barbados. The discussions so far have covered all the 4 Negotiating Groups on:

• Market Access/Trade in Goods (including Agriculture and Rum)
• Services (including Culture) and Investment
• Institutional Issues and Dispute Settlement (including Development Cooperation)
• Trade Related Issues (Competition Policy, Government Procurement, Intellectual Property and Innovation).

WTO Trade Policy Review

Trinidad and Tobago will be undertaking preparation for a review of its trade policy by World Trade Organization Organization (WTO) in 2011. The actual TPR will be held in early 2012 under the WTO Trade Police Review Body (TPRB) which is a peer review by the WTO Membership at the Headquarters in Geneva, Switzerland.

The WTO provides an avenue for increasing our share in world trade, facilitating  the removal and/or reduction of tariffs and other barriers (regulatory, administrative and otherwise) to goods and services.

Trinidad and Tobago as a member of the WTO since March 01, 1995 is obligated to undergo a review of its trade policy every six (6) years, which inter alia,  ‘enables the regular collective appreciation and evaluation of the full range of trade policies and practices and the impact on the functioning of the multilateral trading system”  [Annex 3 Trade Policy Review Mechanism – Legal Text of the Results of the Uruguay Round of Multilateral Trade Negotiations]. The last 2 reviews were held in November 1998 and September 2005.

Annex 3 of the Marrakesh Agreement states the objectives of the TPRM as “to contribute to improved adherence by all Members to rules, disciplines and commitments made under the Multilateral Trade Agreements…. , and hence to the smoother functioning of the multilateral trading system, by achieving greater transparency in, and understanding of , the trade policies and practices of Members”. 

The foundation of this review entails the preparation of:

• Report by the Government of Trinidad and Tobago  on its trade policies and practices; and
• WTO Secretariat Report on Trinidad and Tobago Trade Policy Review  based on its own responsibility for the Trade Policy Review Body.