CARICOM: CUBA AGREE TO EXPAND PREFERENTIAL MARKET ACCESS

GEORGETOWN, Guyana.- The Caribbean Community (CARICOM) and Cuba have reached agreement for the expansion of preferential access to each other's markets.

An agreement to this end came at the meeting between the two sides held at the end of last month. The tenth meeting of the joint commission established under the trade and economic cooperation agreement between CARICOM and Cuba convened at the CARICOM Secretariat, Georgetown, Guyana 30-31 January.

A significant number of items from the Community, including beer, fish and other agricultural products, and manufactured goods, have been approved for entry into the Cuban market free of duty once both sides formalise the agreement. CARICOM member states have also agreed to grant duty-free access to Cuban goods, including pharmaceuticals. More developed countries (MDCs) in the Community will also determine the level of preference they will grant to Cuba on a number of other items.

The agreement also includes a number of items on which each MDC will determine the level of preference it will grant to Cuba. 

Exploratory discussions on trade in services were also held. The two sides agreed to continue to exchange information on trade in services, and to make efforts to advance cooperation in this area, particularly in tourism.