Trade Agreement In Caricom
Guyana is also a signatory to a series of regional trade agreements (z.B CARICOM-Colombia-Agreement on Trade, Economic and Technical Cooperation, the CARICOM-Costa Rica Free Trade Agreement, the CARICOM-Cuba Free Trade Agreement, the Free Trade Agreement between the Dominican Republic and Venezuela on trade, economic and technical cooperation). The Cariforum-Economic Trade Agreement (CEPOL), of which Guyana is a member, grants a temporary exemption to all Cariforum products for rice and sugar, duty-free and quota-free access to the European Union. The CARIFORUM region is the first group of countries in Africa, the Caribbean and the Pacific to benefit from a comprehensive EPA with Europe, covering not only goods, but also services, investment and trade-related issues, such as innovation and intellectual property. As a signatory to the U.S. summit, Guyana has accepted the principle of creating a free trade area for the United States. Guyana enjoys preferential access to the United States under the Caribbean Basin Trade Partnership Act (CBTPA), an extension of the Caribbean Basin Initiative (CBI) of 1983. The benefits of CBTPA are in effect during a “transitional period” that will take effect between the United States and a CBTPA recipient country until September 30, 2020 or when the U.S. Free Trade Area or any other free trade agreement, as described in the legislation, enters into force, remains in effect. Guyana also enjoys preferential market access in Canada under CaribCan. Describes the trade agreements in which this country is involved. Includes resources in which U.S. companies can obtain information on how they can use these agreements. Guyana has an economic partnership agreement with the European Union (EU) and is a party to a series of bilateral trade agreements (for example.
B of the guyana-Brazil agreement, the Guyana-China trade agreement and the Guyana-Venezuela agreement). These agreements aim to promote trade in traditional and non-traditional markets. Guyana is a member of the Caribbean Community (CARICOM).