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Trade Agreements

1973

Caricom

Access to over 5 million people through the regional market for Grenada-based manufacturers. Duty-free imports into any of the 14 member states – subject to criteria specified under the CARICOM Rules of Origin.

1979

Canada-Caricom

A treaty that seeks establish a Joint Working Group to prepare a Framework Agreement on the scope and nature of a more mature trade and economic agreement in enhancement of existing arrangements and culminating in a possible “Free Trade Agreement”.

1986

Caribcan

Duty-free relief on export to Canada for products that are wholly produced or manufactured in Grenada (minimum of 60% of the ex-factory price of the product originating in the Commonwealth Caribbean or Canada).

1992

Venezuela-Caricom Agreement

Exportation of Grenadian-made products to Venezuela without attracting customs duties. Goods should be wholly produced; 60% of the export value of the product should be local value-added; or the goods underwent a process of substantial transformation.

1993

Caribbean Basin Initiative (CBI)

Provision of duty-free entry on exports to the U.S. A for products made in Grenada where 35% of the appraised value of the manufactured articles are derived in Grenada.

1994

Colombia-Caricom Agreement

No customs duties attracted on Grenadian-made products that are exported to Colombia.

2000

Cuba-Caricom Trade & Economic Co-operation Agreement

An agreement that allows for 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 harmonization of technical, sanitary and phytosanitary measures.

2001

Dominican Republic-Caricom Agreement

Makes provision for the creation of a Free Trade Area with the objective of strengthening the commercial and economic relations between the two (2) parties.

2004

Costa Rica-Caricom Agreement

Costa Rica grants free access to goods originating from LDC members of CARICOM including Grenada. The agreement allows free trade or preferential access for a wide range of products.

Economic Partnership Agreement

CARIFORUM EC-EPA

An agreement in the internal trading system that promotes sustainable development, builds a regional market among developing countries and helps eliminate poverty. The EPA removes all tariffs and quotas on Caribbean exports to the EU – except for sugar and rice.

Bilateral Agreements

The Bilateral Investment Agreements have been designed to encourage and protect international investments and to ensure that investors receive fair, equitable and non-discriminatory treatment. The agreement is established between Grenada and the following countries.

Investment protection and promotion agreement with the United Kingdom

An agreement that encourages British investor confidence by setting high standards of investor protection applicable in international law. Key elements include provisions for equal and non-discriminatory treatment of investors and their investments, compensation for expropriation, transfer of capital and returns and access to independent settlement of disputes.

Reciprocal encouragement and protection of investment with the USA

The agreement protects U.S. investors against performance requirements, restrictions on transfers, arbitrary expropriation and sets forth procedures for the settlement of disputes. It also promotes private sector development.

Caribbean Single Market & Economy (CSME)

The CARICOM Single Market and Economy is an arrangement which allows CARICOM goods, services, people and capital to move throughout the community without restrictions to achieve a single large economic space and provide for one economic and trade policy. The CSME was envisioned to embody the notion of a Single Caribbean Economy based upon the pursuit of unified and harmonized economic, fiscal and monetary policies.

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