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Published: 25 May 2020

This Free Trade Agreement was signed on August 22nd 1998. While the CARICOM LDCs, such as Saint Vincent and the Grenadines, are required to apply the MFN rate of duty on all goods originating from the Dominican Republic on the LDC markets, the LDCs are not required to extend duty free access for all Dominican Republic goods or to phase reduction of MFN rate of duty on goods. Therefore, the Agreement is non reciprocal for CARICOM LDCs.

The fundamental objective of the Agreement shall be to strengthen the commercial and economic relations between the Parties through:

• the establishment of a Free Trade Area between the Parties consistent with the Marrakesh Agreement Establishing the World Trade Organisation (the WTO);
• the promotion and expansion of the sale of goods originating in the territories of the Parties through, inter alia, free access to the markets of the Parties, elimination of non-tariff barriers to trade, and the establishment of a system of Rules of Origin, Customs Co-operation and the Harmonisation of Technical, Sanitary and Phyto-Sanitary Procedures;
• the progressive liberalisation of trade in services; (iv) the liberalisation of the movement of capital between the Parties, and the promotion and protection of investments aimed at taking advantage of the opportunities offered by the markets of the Parties, and the strengthening of their competitiveness;
• the promotion of the active participation of private economic agents with a view to deepening and broadening the economic relations between the Parties, including the promotion and establishment of joint ventures;
• the promotion and development of co-operative activities in the following areas: agriculture, mining, industry, construction, tourism, transportation, telecommunications, banking, insurance, capital markets, professional services and science and technology;
• the discouragement of anti-competitive business practices between and within the Parties.

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Published: 25 May 2020

On 5th July 2000, the Caribbean Community (CARICOM), signed an Agreement creating a free trade area with Cuba. This Agreement is non-reciprocal from CARICOM Lesser Developed Countries (LDCs), such as Saint Vincent and the Grenadines. The objective of this Agreement is the strengthening of the commercial and economic relations between the parties through: 

• the promotion and expansion of trade in goods and services originating in the territories of the parties by means of, inter alia, free access to the markets of the parties, elimination of non-tariff barriers to trade, the establishment of a system of rules of origin, and harmonisation of technical, sanitary and phyto-sanitary measures;
• the establishment of financial arrangements to facilitate the progressive development of two-way trade between the parties;
• the progressive liberalization of trade in services;
• the encouragement of one party in the market of the other party so as to enhance the competitiveness of the parties in the world market;
• the provision of facilities for the establishment and operation of joint ventures and other forms of economic co-operation activities;
• the development of mechanisms that promote and protect the investments made by nationals of the parties;
• the promotion and development of co-operative activities;
• the promotion of an ongoing system of consultation and coordination for the exchange of information and views on economic and social matters of mutual interest and, where feasible, for the adoption of common positions at international forums and vis-a-vis, third countries and groups of countries.
• the discouragement of anti-competitive business practices between the parties;
• the continuity and progress of work initiated within the CARICOM-Cuba Joint Commission (the Joint Commission), established by both parties for the development of mutual relations.

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Published: 25 May 2020

This Agreement creates a free trade area between the parties. It was signed on 9th March 2004. The Agreement is non-reciprocal for CARICOM lesser Developed Countries (LDCs). However, if the LDCs grant preferential treatment to originating goods from a country that is not Costa Rica, that treatment shall be granted to those same goods from Costa Rica.

The objectives of this Agreement, as elaborated more specifically through its principles, rules and provisions, including national treatment, most-favored-nation treatment and transparency, as referred to in this Agreement, are to:

• establish and develop a free trade area in accordance with its provisions;
• stimulate trade expansion and diversification between the parties;
• eliminate barriers to trade, and facilitate the cross-border movement of goods and services between the territories of the parties;
•  promote conditions of fair competition in the free trade area;
• increase substantially, investment opportunities in the territories of the parties;
• create effective procedures for the implementation and application of this Agreement, for its joint administration, and for the resolution of disputes;
• promote regional integration in the Americas, and contribute to the progressive elimination of barriers to trade and investment; and
• establish a framework for further bilateral, regional and multilateral co-operation to expand and enhance the benefits of this Agreement.

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