Caribcan agreement extended to 2033


Canada and CARICOM flags

Canada has gotten approval from the World Trade Organization (WTO) to extend the Caribbean-Canada trade agreement (Caribcan) until December 31, 2033.

Caribcan is a non-reciprocal economic and trade development assistance programme offered to Commonwealth Caribbean countries and territories by the Canadian government since 1986.

Under the Caribcan agreement, Commonwealth Caribbean countries and territories are not required to provide duty-free access to Canadian products. But it allows for duty-free access into the Canadian market for most commodities from Commonwealth Caribbean countries.

The objectives are to enhance Commonwealth Caribbean trade and export earnings, improve trade and economic development prospects of the region, promote new investment opportunities and encourage enhanced economic integration and co-operation.

To ensure that Caribcan remains available to Caribbean countries and territories, Canada is required to periodically obtain a waiver from the WTO. In May, the WTO granted the waiver that would allow Canada to continue the Caribcan arrangement until 2033.