Government of Trinidad & Tobago
Contents Bilateral Trade Agreements 3 CARICOM/Colombia Trade, Economic and Technical Cooperation Agreement 4 CARICOM/Costa Rica Free Trade Agreement 7 CARICOM/Cuba Trade and Economic Cooperation Agreement 10 CARICOM/Dominican Republic Free Trade Agreement 13 CARICOM/Venezuela Agreement on Trade and Investment 16 Non-Energy Trade with Trinidad and Tobago’s Bilateral Partners 19
Just like other small countries with developing economies, Trinidad and Tobago faces the challenge of trading with powerful nations, whose economies are larger, complex and more highly developed than our own. On the surface, this may seem like a daunting task, but the benefits of participating fully in the global trading system are profound. In fact, no responsible nation pursuing a course of growth and development can afford to isolate itself from the global economy.
One of the many benefits to participating in trade is the provision of a greater economic scope for manufacturers and service providers. Given the limited size of our domestic market, to achieve optimum scale of production and drive industrial growth our manufacturers and service providers must export to foreign markets.
To facilitate greater access to foreign markets, Trinidad and Tobago as a member-state of CARICOM, has embarked on a program to secure and pursue bilateral trade agreements to assist domestic exporters desirous of penetrating foreign markets.
Bilateral Trade Agreements (BTAs) usually incorporate a reduction in tariffs or other protective barriers and are attractive because of their relative simplicity compared to market access without a BTA. It can also target specific market opportunities and resolve specific problems of trade between the two contracting Parties to the Agreement.
A significant feature of the Agreements negotiated is that while the More Developed Countries (MDCs) of CARICOM are required to provide reciprocal market access concessions to the Bilateral Trade Partner, the Less Developed Countries (LDCs) of CARICOM enjoy duty-free access to the Bilateral Trade Partner’s markets, but are not usually required to grant similar access in return.
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Bilateral Trade Agreements
CARICOM / COLOMBIA
Agreement on Trade, Economic and Technical Cooperation between the Caribbean Community (CARICOM) and the Government of the Republic of Colombia.
Date of Signature: July 24, 1994
CARICOM / COSTA RICA
Free Trade Agreement Between the Caribbean Community (CARICOM) and The Government Of The Republic Of Costa Rica.
Date of Signature: March 9, 2004
CARICOM / CUBA
Trade and Economic Cooperation Agreement between the Caribbean Community (CARICOM) and the Government of the Republic of Cuba.
CARICOM / DOMINICAN REPUBLIC
Agreement Establishing the Free Trade Area Between the Caribbean Community (CARICOM) and the Dominican Republic.
Date of Signature: August 22, 1998
CARICOM / VENEZUEL A
Agreement between the Caribbean Community (CARICOM) and the Government of the Republic of Venezuela on Trade and Investment.
Date of Signature: October 13, 1992.
Date of Signature: July 5, 2000
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This Agreement provides for trade liberalization as well as trade facilitation for the parties involved. it was initially a one-way agreement granting preferential tariff rates to CARICOM exports into the Colombian market. However, the Agreement was revised in the late 1990’s to provide for tariff reductions on imports from Colombia. This revision only applies to imports into Jamaica, Barbados, Guyana, and Trinidad and Tobago.
The Agreement includes a safeguard clause in case of injury or threat of injury to domestic production, or for balance-ofpayments reasons. A CARICOM/ Colombia Joint Council on Trade, Economic and Business Cooperation is responsible for the
CARICOM/Colombia
Trade, Economic and Technical Cooperation Agreement
administration of the Agreement, while any disputes which may arise regarding subsidies and anti-dumping are to be taken to the WTO.
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Trinidad and Tobago's major non-energy sector domestic exports to Colombia for January - December 2008 are:
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H.S. Code Description Value (TT$) 72139990Other bars & rods of non-alloy steel 84,617,766.00 72071190Other semi-finished prods.<0.25% carbon 15,455,354.00 22084090Other rum and tafia 7,665,224.00 18063100Food prep. In blocks filled, > 2 Kg 5,042,617.00 22084010Rum, tafia, bottled 46% vol and under 3,038,959.00 22021010Aerated beverages sweetened 2,463,006.00 84211290Other spin driers 1,044,092.00 85372000Board, panel, console, etc.>1000v 278,593.00 07133310Red kidney beans dried 154,159.00 19049000Other prepared foods by roasting cereals 104,528.00 19041000Cereal, cereal roducts rep. by roasting, etc. 94,247.00 73090090Other reservoirs, tanks and similar containers 63,317.00 84314910Parts for moving, grading mach., etc. 45,208.00 84213900Other filtering and purifying machinery 42,494.00 48119000Other paper & P. board of cellulose fibres. 36,006.00 19053290Other waffles and wafers 34,124.00 85287200Other apparatus for colour television 756.00 64019900Other W.proof footwear rubber, plastic soles 504.00 61029000Female overcoats, etc of oth. textile mat 472.00 62061020 Female shirts of silk, silk waste 200.00 Total 120,181,626.00
Source: CSO
Some of Trinidad and Tobago's major non-energy imports from Colombia for January - December 2008 are:
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H.S. Code Description Value (TT$) 48030020Toilet\\facial tissue stock 24,140,719.00 15119090Other palm oil 23,887,317.00 17019990Other sugar 19,254,560.00 48184010Sanitary towels and tampons 11,493,347.00 48030090Other toilet or facial tissue stock 10,880,358.00 73101000Tanks of iron, steel a capacity 50l or more 9,820,960.00 15119010Palm stearin 7,258,189.00 85372000Board, panel, console, etc.>1000v 5,902,530.00 39233010Bottles of plastic 5,617,900.00 15179010Imitation lard, etc. 4,632,752.00 15162000Vegetable oils and fats, hydrogenated 4,094,804.00 15132900Palm kernel oil, refined 4,031,133.00 25221000Quicklime 3,118,419.00 73082000Towers and lattice masts of steel 2,950,014.00 18040000Cocoa butter (fat or oil) 2,880,864.00 73269090Other iron or steel articles 2,618,577.00 76169990Cloth, grill, netting, etc. of aluminium other 2,540,966.00 21011200Prep with coffee basis 2,421,931.00 48183020Serviettes 2,329,588.00 19019020 Prep. of malt extract 2,263,021.00 Total 152,137,949.00
Source: CSO
This Agreement will allow Trinidad and Tobago manufacturers’ and CARICOM States a more transparent and predictable access to the Costa Rican market, which is in excess of four million people. It also represents another step toward Trinidad and Tobago’s integration into the wider Latin American marketplace.
The agreement provides for free trade or preferential access for a wide range of goods. A limited number of sensitive products, such as fish, chocolate, cigarettes and certain agricultural commodities however, will continue to attract duty, while for some products the duty will be phased out over a four-year period bringing their duties to a zero rate.
CARICOM/Costa Rica Free Trade Agreement
Apart from trade in goods, the agreement contains antidumping provisions, provides for a review of developments in relation to trade in services, investment, competition policy, and government procurement. The Agreement also provides for dispute settlement. Legislation has been approved by both Trinidad and Tobago and Costa Rica to give effect to trade under this agreement.
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Trinidad and Tobago's major non-energy sector domestic exports to Costa Rica for January - December 2008 are:
H.S. Code Description Value (TT$) 72071190Other semi-finished prods.<0.25% carbon 271,251,786.00 72139990Other bars & rods of non-alloy steel 36,007,264.00 21069090Other food preparation 628,393.00 84186100Other compression type units 340,944.00 44039990Other wood in the rough 257,883.00 84158200A.Cother, with refrig. unit only 79,756.00 19041000Cereal,cereal products prep. by roasting, etc. 75,674.00 19049000Other prepared foods by roasting cereals 65,204.00 53031000Jute & other textile bast fib. raw\\retted 6,889.00 84151000Air-conditioning machines window-type 5,147.00 22084010Rum, tafia, bottled 46% vol and under 2,164.00 84189900Other refrig. equipment parts 2,101.00 22089010Aromatic bitters flav. agent for food 1,094.00 22087000Liqueurs and cordials 1,000.00 92060010Steelband instruments 250.00 22083010Whisky, bottled 46% vol and under 125.00 Total 308,725,674.00
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Source: CSO
Some of Trinidad and Tobago's major non-energy imports from Costa Rica for January - December 2008 are:
H.S. Code Description Value (TT$) 21069090Other food preparation 47,587,882.00 39235010Lds and caps of plastics 23,150,286.00 07061010Carrots fr\\ch 17,206,505.00 19021900Other pasta not stuffed\\unprepared 6,282,375.00 94051000Chandeliers 5,167,046.00 48191000Cartons, boxes, etc of corr. paper, p. board 4,395,600.00 17019990Other sugar 2,909,592.00 02023090Other bovine boneless meat frozen 2,653,681.00 48194010Other sacks & bags of paper incl.cones unpr. 2,136,297.00 85365000Other switches<1000 volts 1,908,631.00 68118200Other sheets, panel, etc without asbestos 1,895,043.00 20089920Banana\\plantain chips 1,840,597.00 07049010Cabbages fresh or chilled 1,661,378.00 21039090Other sauces, condim't 1,650,924.00 83091000Crown corks of base metal 1,611,254.00 16041410Tunas 1,433,752.00 48184020Baby paper napkins, and liners. 1,383,110.00 19023000Other pasta 1,308,786.00 85444910Copper cond.<0.5 mm sq plastic insulated 1,023,731.00 48184010Sanitary towels and tampons 1,016,187.00 Total 128,222,657.00
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Source: CSO
This Agreement provides for duty-free treatment on certain goods specified in the Agreement such as fruit juices, various sauces, condiments and seasonings. The Agreement also includes a list of products for which the rate of duty will be reduced through phased reductions. These preferential tariff treatments will allow our exporters to access Cuba’s market, which is in excess of eleven million consumers.
A Joint Commission comprising members of both Parties has the responsibility of supervising the implementation and administration of the Agreement. The Commission, which is mandated to meet least once a year, is also responsible for resolving any disputes which may arise from the interpretation and execution of the agreement, as well as periodically reviewing the agreement and making recommendations for its modification and amendments as necessary.
Trade promotion and facilitation, ser vices, tourism, investment, and intellectual property rights are also covered by the agreement. In addition, the agreement also contains provisions for the promotion and development of co-operative activities between the parties.
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CARICOM/Cuba
Trade and economic cooperation Agreement
Trinidad and Tobago's major non-energy sector domestic exports to Cuba for January - December 2008 are:
11 H.S. Code Description Value (TT$) 84212100Machinery for filter'g & purifying water 970,553.00 84189900Other refrig. equipment parts 786,377.00 84158200A.Cother, with refrig. unit only 778,989.00 94033000wooden furniture for offices 240,000.00 20081100Ground nuts 170,036.00 84159000Parts of air-cond. machines for assembly 69,433.00 98980200Personal effects of travels & immigrants 32,796.00 20089990Other fruit, nuts edible plant parts 23,099.00 20081990Other mixtures 19,632.00 48194010Other sacks & bags of paper incl.cones unpr. 18,957.00 48239030Other pap. board for writ., graph, etc 13,553.00 22084010Rum,tafia,bottled 46% vol and under 11,836.00 84151000Air-conditioning machines window-type 9,757.00 73269090Other iron or steel articles 5,104.00 22087000 Liqueurs and cordials 4,000.00 22089010Aromatic bitters flav. agent for food 2,693.00 48239090Other art of paper etc 1,986.00 39269090 Other articles of plastics 1,931.00 63079090Other made-up articles 1,738.00 94031000 Metal furniture for offices 1,681.00 Total 3,164,151.00
Source: CSO
Some of Trinidad and Tobago's major non-energy imports from Cuba for January - Decemeber 2008 are:
12 H.S. Code Description Value (TT$) 17011119Other raw cane sugar 24,822,651.00 24021000Cigars, cheroots, etc with tobacco 117,735.00 22084010Rum, tafia, bottled 46% vol and under 14,484.00 85044000Static converters 13,121.00 24022000Cigarettes containing tobacco 1,361.00 21069090Other food preparation 1,016.00 22051000Flav. grape wine in <=2 lit. containers 545.00 42029900Other trunks, suitcases vanity-cases, etc. 133.00 Total 24,971,046.00
Source: CSO
This Agreement was the first Free Trade Agreement signed by CARICOM, and it grants exporters access to the Dominican Republic market, which is in excess of eight million consumers.
This agreement provides for the duty-free access for all goods other than those specifically listed in Appendices II and III to the agreement- Appendix II refers to goods which will be subject to the phased reduction of the MFN rate of duty to zero over a specified period of time; while Appendix III refers to more economically sensitive goods on which the application of the MFN rate of duty will be maintained.
CARICOM/Dominican Republic Free Trade Agreement
Following the Protocol Implementing the Agreement, the list for phased reduction of MFN tariffs, (Goods listed in Appendix II of the Agreement) was scheduled to start in 2000 and be reduced to a rate of duty of zero by 1 January 2004 in both the Dominican Republic and in the CARICOM MDCs. This however it is currently being reviewed.
In addition to trade in goods, the agreement makes provisions for liberalization for trade in services. It also incorporates commitments to develop other areas of cooperation including reciprocal promotion and protection of investment and government procurement.
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Some of Trinidad and Tobago’s major non-energy sector domestic exports to the Dominican Republic for January – July 2007 are:
14 H.S. Code Description Value (TT$) 72139990Other bars & rods of non-alloy steel 87,403,855.00 85071000Lead-acid starting piston eng. 26,982,032.00 48030020Toilet\\facial tissue stock 20,310,705.00 48182000Paper tissues & towels for cleansing, facial 15,449,686.00 19041000Cereal,cereal products prep. by roasting etc. 15,064,208.00 22084010Rum, tafia, bottled 46% vol and under 11,576,055.00 70109010Other glass bottles for s. drink, wines, etc 9,976,185.00 48184020Baby paper napkins, and liners 5,459,003.00 22021010Aerated beverages sweetened 4,375,933.00 48211000Labels of all kinds of paper, p.board printed 3,872,811.00 22084090Other rum and tafia 1,937,531.00 48181000Toilet paper 1,873,770.00 94059900Lamps & light fittings of other materials 1,167,314.00 48239030Other pap. board for writ., graph etc 1,005,436.00 21050010ice cream with cocoa or not 658,628.00 94051000Chandeliers 398,922.00 48184090Other sanitary articles 393,911.00 83100000Sign-plates, etc. base metal 336,657.00 25051000Silica, quartz sands 332,488.00 72041000Waste and scrap of cast iron 313,447.00 Total 208,888,577.00
Source: CSO
Some of Trinidad and Tobago's major non-energy imports from Dominican Republic for January - December 2008 are:
H.S. Code Description Value (TT$) 25231000Cement clinkers 17,755,532.00 25171000Gravel, pebbles etc. for concrete aggregate 11,614,192.00 21041020Soups, etc. solid or powdered 8,980,626.00 21039090Other sauces, condim't 7,230,252.00 39233010Bottles of plastic 3,155,366.00 25232100White cement coloured artificiallly \\not 2,811,213.00 69101080Complete lavatory sets of porcelain or china 2,060,489.00 47079000Other paper\\p.board unsorted waste, scrap 1,842,788.00 59111000Textile fabrics etc. used for card clothing 1,801,680.00 84185000Refrigerating display counters etc. 1,716,295.00 73209090Other springs and leaves 1,562,596.00 85362000Auto. circuit breakers <1000 volts 1,485,916.00 25223000Hydralic lime, 1,456,146.00 39241010Cups, forks, plates, etc. of plastics 1,336,515.00 55062000Combed syn. staple fib. of polyesters 860,913.00 39239090Other articles of plastics 743,605.00 04059090Other butter, fat and oils derived from milk 678,008.00 72173000Wire plated, coated with other base metals 604,886.00 20054090Other peas prepared not frozen pks >50 kg 530,482.00 84283900Other elevators & conveyors 501,829.00 Total 68,729,329.00
Source: CSO
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CARICOM/Venezuela Agreement on Trade and Investment
This Agreement is a one-way preferential agreement which aims at promoting CARICOM exports to Venezuela. Tariffs have been eliminated on 22 per cent of products such as fresh produce, confectionery, cosmetics, jams and jellies, medicines, wooden furniture, horticultural products, spices, processed foods, and toilet preparations, while many other products enjoy some measure of tariff reduction.
dumping. Disputes which may arise under this Agreement can be resolved through the use of the Joint Council established under this Agreement, whose judgments, though not binding, takes the form of recommendations.
Currently, Venezuela is seeking reciprocal preferential access to the markets of CARICOM MDCs, and CARICOM is considering the request.
The Agreement also seeks to foster investment in the region and to facilitate joint ventures between both parties. In addition, signatories are allowed to apply measures to counter unfair trade practices, such as export and domestic subsidies and
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Trinidad and Tobago's major non-energy sector domestic exports to Venezuela for January - December 2008 are:
17 H.S. Code Description Value (TT$) 84158200 A.C other, with refrig. unit only 9,657,751.00 84151000 Air-conditioning machines window-type 8,390,124.00 84189900 Other refrig. equipment parts 5,432,567.00 84314300 Parts for boring or sinking machinery 4,357,518.00 84261900 Other overhead cranes 2,229,553.00 84314910 Parts for moving, grading mach. etc. 2,126,581.00 85078000 Other accumulators 2,057,180.00 85072000 Other lead-acid accumulators 1,730,611.00 72139990 Other bars & rods of non-alloy steel 1,474,009.00 84798900 Other machines and mechanical app. 1,342,053.00 03026920 Snapper, grouper sea trout, dolphin etc 663,581.00 03022900 Other flat fish fr\\ch excl livers & roes 530,866.00 84186100 Other compression type units 524,251.00 47079000 Other paper\\p.board unsorted waste, scrap 519,495.00 22089010 Aromatic bitters flav. agent for food 506,696.00 03037990 Other fish frozen 303,900.00 47069190 Other pulp of fibres 221,419.00 73269090 Other iron or steel articles 217,858.00 84818000 Other app. for pipes, tanks, vats etc. 180,769.00 39269090 Other articles of plastics 171,726.00 Total 42,638,508.00
CSO
Source:
Some of Trinidad and Tobago's major non-energy imports from Venezuela for January - December 2008 are:
18 H.S. Code Description Value (TT$) 78060010Lead bars, rods profiles and wire 25,836,228.00 25231000Cement clinkers 23,706,115.00 72172000Wire plated,coated with zinc 11,369,658.00 76149000Other stranded wire and cables 9,743,313.00 84314300Parts for boring or sinking machinery 9,391,408.00 73089000Other structures and parts of steel 8,853,418.00 73101000Tanks of iron, steel a capacity 50l or more 8,646,681.00 76012000Aluminium alloys unwrought 4,249,092.00 73110000Cont. for compressed or liquefied gas 3,891,444.00 89019090Other transport vessels 3,806,075.00 25171000Gravel, pebbles, etc. for concrete aggregate 2,682,781.00 72105000Chromium plated products w>=600mm 1,658,350.00 72179000Other wire of iron, etc 1,500,404.00 72104910Flat rolled products zinc plated>3mm 1,333,581.00 39239090Other articles of plastics 1,301,000.00 73082000 Towers and lattice masts of steel 1,299,895.00 48229000Oth. bobbins,s pools etc of paper pulp, p.board 1,291,648.00 48183020Erviettes 1,268,372.00 48030090 Other toilet or facial tissue stock 1,208,141.00 73102900Other casks, boxes, drums, cans, etc. of iron 1,104,646.00 Total 124,142,250.00
Source: CSO
19 Countries 2004 2005 2006 2007 2008 DomesticTotalDomesticTotalDomesticTotalDomesticTotalDomesticTotal ExportsImportsExportsImportsExportsImportsExportsImportsExportsImports COSTA RICA 28.2 54.4 2.0 79.2 30.5 101.7 123.6 142.9 308.7 149.8 CUBA 17.0 11.9 21.9 2.0 12.9 107.0 18.4 44.6 3.1 24.9 DOMINICAN REPUBLIC 160.1 62.8 137.7 27.8 294.2 56.3 191.1 63.5 211.0 76.3 COLOMBIA 86.4 80.5 81.1 147.6 119.4 257.1 136.0 202.7 120.2 212.5 VENEZUELA 60.9 239.6 45.9 254.9 60.5 157.0 47.5 181.0 44.6 152.0
Source: CSO
NON-ENERGY TRADE WITH TRINIDAD AND TOBAGO'S BILATERAL PARTNERS (TT$MN)
Levels 11–17, Nicholas Tower 63-65 Independence Square, Port of Spain, Trinidad and Tobago, WI Tel: 1 (868) 623-2931-4 Fax: 1 (868) 627-8488; 627-0002 Web Site: www.tradeind.gov.tt Email: info@tradeind.gov.tt
