Learn more about the trade agreements Trinidad and Tobago has
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:
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.
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.