Canada seeks extension of Caribbean free trade accord

November 24, 2011 | 08:47

(0) user say

Canada will ask the World Trade Organization (WTO) to extend a Caribbean-Canada Trade Agreement for two years because negotiations for a new trade accord have not concluded.

"It is being applied to be able to extend the current duty-free access to CaribCan nations for another two years," Canada's Ambassador to Guyana, David Devine told AFP. The application could be made as early as December 5.

CaribCan is aimed at benefiting Commonwealth Caribbean countries and territories. Beneficiaries are Anguilla, Antigua and Barbuda, the Bahamas, Barbados, Grenada, Guyana, Jamaica, St Lucia and St Vincent and the Grenadines, as well as Trinidad & Tobago.

Under the WTO's principles, Canada must get a waiver from the WTO to continue granting the tariffs.

Devine said the WTO waiver would allow trade to proceed, pending the conclusion of negotiations for a Caribbean Canada Trade and Development Agreement.

"The extension of a waiver provides a certain amount of time to be able to hopefully conclude the negotiations," he said.

The Canadian envoy said his country's negotiators and those from the 15-nation Caribbean Community (Caricom) were examining the outcome of the third round of negotiations.

"There has been new impetus to be able to complete these as efficiently and effectively as possible," he said.

Devine could not say how negotiations would proceed in the absence of the matters of labor and the environment.

The CARICOM-Canada trade talks began formally in November 2009 with CARICOM putting forward its interest in a strong development component, as a distinct chapter of the agreement.

Further, the region has been advocating for the agreement to make provisions for the varying levels of development among CARICOM countries.

AFP

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional