Caricom: Caribbean Community
Caricom: Caribbean Community
Caricom: Caribbean Community
Caribbean Community
Member Nations
CARICOM Members Status Full member Antigua and Barbuda' Bahamas Barbados Belize Dominica Grenada Guyana Haiti Jamaica Montserrat Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Suriname Trinidad and Tobago Associate Anguilla Bermuda British Virgin Islands Cayman Islands Turks and Caicos Islands Observer Aruba Colombia Curaao Dominican Republic Mexico Puerto Rico Sint Maarten Venezuela
SUGAR TRADE
Sugar trade between CARICOM and the European Union is regulated by two trade agreements: The ACP/EU Sugar Protocol and The Agreement on Special Preferential Sugar (SPS). ACP/EU Sugar Protocol The fundamental principles enshrined in the Sugar Protocol are the following: Agreed Quantities Guaranteed Prices Indefinite duration The Sugar Protocol is an agreement between governments whereby the EU Member States guarantee to buy and import agreed quantities of sugar which the ACP Signatory States undertake to Sell.
Competitiveness in CARICOM
Within the 148 countries surveyed, seven Caribbean/CARCIOM countries were included: Barbados, the Dominican Republic, Guyana, Haiti, Jamaica, Suriname, and Trinidad and Tobago The WEF defines competitiveness as the set of institutions, policies, and factors that determine the level of productivity of a country.
Business in CARICOM
Overview
The competitiveness of Caribbean/CARICOM countries has been declining Most countries in the region are still experiencing an economic decline, which is likely to continue into the foreseeable future More critical for governments to endeavour to create more enabling environments by implementing policies, removing bottlenecks and bureaucracy, fostering efficiency etc that encourage and facilitate investment and innovation.
Since most of these goods face zero or low tariffs in the Indian market, the CRNM does not see this as a priority area for trade negotiations. However, there are some regional exports that face high tariff barriers, some of which are agricultural products. In 2009, Indian importers spent US$266bn on global merchandise imports. India also represents a dynamic global market with import spending expanding by approximately 23% annually between 2001 and 2009
Among the CARICOM countries, The Bahamas is the leading market for Indias exports, accounting for 77% of Indias total exports to the region during 2009-10 Other major export destinations of India in the region are Trinidad and Tobago, Haiti, Jamaica, Suriname Guyana, and Barbados. Trinidad and Tobago is the leading import source, accounting for 79 percent of Indias total imports from the region during 2009-10
Performance of select Caribbean countries on the ease of starting a business in 20112012 (Source: World Bank)
Performance of select Caribbean countries on the ease of securing credit in 20112012 (Source: World Bank)
Performance of select Caribbean countries on the ease of paying taxes and the burden of those taxes on businesses in 20112012 (Source: World Bank)
no practice status means that a country has had zero insolvency cases a year over the past 5 years.
Conclusion
Thank You