The Commonwealth of the Bahamas is not a party to these trade agreements. The agreement will operate under the supervision of a joint council whose agenda already contains some important issues related to the evolution of trade between the Dominican Republic and CARICOM. The agreement, long awaited by the business community in both CarICOM and the Dominican Republic, will provide for a significant share of trade between the two sides, which will benefit from duty-free access to each other`s markets. This is the first free trade agreement concluded by the Caribbean Community. The CARICOM least developed countries enjoy this status in the Dominican Republic`s market, but are not required to respond to this treatment to the Dominican Republic. In addition to trade in goods, the agreement provides, inter alia, for rules on trade in services and the promotion and protection of each other`s investments.
13 Sep 2021