Caribbean Group (CARICOM) Chairman and Prime Minister, Dr. the Most Hon. Andrew Holness, has underscored the significance of preserving long-standing preferential commerce preparations with the USA (US) underneath the Caribbean Basin Initiative (CBI), as regional negotiations with North America close to a essential deadline.
“Our place is that we should always search to defend the historic commerce relations that now we have had with the USA, significantly underneath the CBI. We can’t surrender on differential and preferential therapy for Small Island Growing States (SIDS),” Dr. Holness stated.
He was talking throughout the Closing Media Convention for the forty ninth Common Assembly of the CARICOM Heads of Authorities on the Montego Bay Conference Centre in Rose Corridor, St. James, on Tuesday (July 8).
Dr. Holness emphasised that commerce carries a essential growth dimension, and Caribbean-specific issues have to be meaningfully addressed within the ongoing negotiations.
“We do recognise that we’re current in a altering surroundings however we should negotiate strongly from our place, and that’s, there’s the event side. And we should always proceed to press residence that commerce ought to take into accounts the historic growth problems with the area,” he added.
It was introduced on Monday (July 7) that the 90-day suspension of the ten per cent tariff on all CARICOM exports to the USA (US) has been prolonged from July 9 to August 1.
Dr. Holness knowledgeable reporters that CARICOM Member States have engaged with a US commerce consultant, with additional negotiations scheduled to proceed past July 9.
He added that CARICOM is “getting ready for very sturdy negotiations from our place”.
Traditionally, the Caribbean has benefited from preferential commerce preparations underneath the CBI, which grants non-reciprocal, duty-free entry to the US marketplace for most eligible exports.
