Trade Agreements

Trade Opportunities

Trinidad and Tobago has been involved in the implementation and/or finalization of a number of trade agreements with other countries or grouping(s) of countries as it seeks to provide a wide range of benefits to exporting and importing businesses operating within Trinidad and Tobago.

The various Agreements can be categorized as follows:

Agreements where Trinidad and Tobago holds membership: World Trade Organization and CARICOM;
Agreements which offer unilateral preferences: Caribbean Basin Initiative and CARIBCAN;
Agreements where Trinidad and Tobago participates as a member of CARICOM or CARIFORUM with other counts or grouping of countries; and
Agreements where Trinidad and Tobago engages directly with other countries in bilateral arrangements.

Most of the Agreements provide a mechanism for expanding or enhancing trading conditions between Parties through the work of Joint Council, Joint Commission or Administrative Commission. Businesses which may be interested in making use of such arrangements are advised to contact the Trade Directorate, Ministry of Trade and Industry of Trinidad and Tobago.

Range of Benefits that Trade Agreements offer to Businesses

Trade Agreements provide exporters with additional market access.

Trade Agreements may provide importers with the option of obtaining cheaper inputs into their manufacturing processes

Trade Agreements provide businesses with a greater level of predictability about tariffs and market conditions

Through Trade Agreements companies obtain an improved level of knowledge about the trading and business environment of targeted countries

Trade Agreements between countries of comparatively similar size and competitiveness may be commercially beneficial to businesses, especially when they are in close proximity

Trade Agreements outline production conditions which allow businesses to benefit from preferential arrangements for goods and services in partner countries

Trade Agreements tend to have treatment provisions which accommodate the participation of companies in their competitors market, namely most favoured nation treatment, which allows equal access for all companies of the Parties of the Agreement and access no less favourable than those from third Parties, and national treatment that prohibits national producers from gaining advantages over importers

Trade Agreements may provide for increased competitiveness by eliminating unfair practices between trading partners aimed at stimulating trade, primarily export subsidies and dumping

Through Trade Agreements a mechanism is provided to defend trade interests including problems and disputes under the Dispute Settlement provisions.