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The Uruguay Round and NAFTA

The Challenge for Commonwealth Caribbean Countries

image of The Uruguay Round and NAFTA

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.

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Trade Preferences and Policies of the Commonwealth Countries of the Caribbean

While, under the UR agreement, the reductions in tariff barriers are substantial, in many sectors the developing countries enjoy preferential access under GSP, and these MFN tariff reductions will actually erode their margins of preference. As regards the Commonwealth Caribbean countries this only affects (i) their exports to developed market economies (DMEs) outside the EU, the US and Canada and (ii) exports to the US, Canada and the EU which are excluded from the CBI, CARIBCAN and Lomé schemes respectively. However, the only excluded Commonwealth Caribbean exports of major significance are apparel exports to the US which, in any event, are omitted from the US GSP scheme.

English

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