The Uruguay Round and NAFTA

The Challenge for Commonwealth Caribbean Countries

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This study provides a comprehensive analysis of the combined impact of the Uruguay Round and NAFTA on the Commonwealth Caribbean countries. It also makes recommendations on policy options available to them. It is hoped that the study will provide a good basis for member governments in this region in assessing the policy implications of the impending changes in the international training system in the context of their economies, and formulating appropriate responses.



Foreign Direct Investment

The calculations presented earlier have estimated the static effects of changes in tariffs and non-tariff barriers, including regulatory barriers. In reality, the so-called dynamic effects may be just as important – indeed a common practice among analysts estimating the effects of changes in trade regimes is to double the static effects to get the overall effects. The dynamic effects derive from the incentives to plan for future trade expansion through investing in plant and equipment in the sectors where foreign barriers are reduced, transferring technology and management skills from abroad, undertaking research into production techniques and market opportunities, training and human resource development in general.


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