Foreign Trade

The CARICOM-Cuba Trade and Economic Cooperation Agreement

The fourth bilateral agreement signed by CARICOM and to which Barbados is a Party, is the CARICOM Cuba Trade and Economic Cooperation Agreement.  This Agreement was signed between the Parties in July 2000 and seeks to strengthen their commercial and economic ties.  The Agreement allows for the reciprocal preferential trade in goods between the CARICOM MDCs of Barbados, Guyana, Jamaica, Suriname and Trinidad and Tobago and Cuba.  The Least Developed Countries of CARICOM are not required to engage in the liberalisation effort.

At a Joint Commission Meeting in 2007, at the initiative of Cuba, both Parties commenced negotiations for preferential access for additional products into each other’s market.  

Discussions at future Joint Commission Meetings between the two parties led to the formation of the Second (2nd) Additional Protocol of the Trade and Economic Cooperation Agreement between the Caribbean Community (CARICOM) and the Government of the Republic of Cuba.  The Second (2nd) Additional Protocol to the Trade and Economic Cooperation Agreement was signed by CARICOM and Cuba on 10 November 2017 in the margins of the Forty-Fifth (45th) Meeting of the Council for Trade and Development (COTED) in Georgetown, Guyana.