WT/TPR/S/151 Trade Policy Review 
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II. TRADE POLICY REGIME:  FRAMEWORK AND OBJECTIVES 
(1) OVERVIEW  
1. Trinidad and Tobago's main policy objectives are to position itself as an economic hub of the 
Western Hemisphere and to achieve full integr ation into the Latin American economy while 
perfecting the Caribbean Community and Common Market (CARICOM).  To attain these goals 
Trinidad and Tobago is seeking, among other things , to lower the cost of doing business in the 
country, to promote investment in human capita l, and to improve overall economic efficiency. 
2. Trinidad and Tobago has maintained an active progr amme of notifications to the WTO.  It has 
not been a complainant in any WTO dispute;  it h as been involved as a respondent in a single case at 
the consultation stage.  Trinidad and Tobago ma de commitments in the extended GATS negotiations 
on telecommunications, and has ratified the Fourth Pr otocol, but did not participate in the extended 
negotiations on financial services.  In the context of the Doha Development Agenda, Trinidad and 
Tobago has been an active supporter of efforts to  promote special and differential treatment for 
developing countries.  It has advocated "less than full reciprocity" for developing countries as a key principle in the formulation of the modalities for tariff reductions. 
3. Trinidad and Tobago is a leading member of CARICOM.  It implements the Revised Treaty 
of Chaguaramas, which covers trade policy, ser vices, consumer protection, competition policy, 
transport policy, and agricultural policy, and fo rms the legal basis for the establishment of the 
CARICOM Single Market and Economy (CSME).  The Si ngle Market is expected to be implemented 
by participating CARICOM members by 31 December 2005.   
4. Through its participation in CARICOM, Trin idad and Tobago has concluded preferential 
trade agreements with Venezuela, Colombia, th e Dominican Republic, Cuba, and Costa Rica, the 
latter three since 1998.  Trinidad and Tobago's expor ts also benefit from preferential market access 
under non-reciprocal preferential trade arrangement s offered by a number of developed countries, 
such as the Generalized System of Preferen ces, the Caribbean Basin Initiative, the Cotonou 
Agreement and CARIBCAN. 
5. Trinidad and Tobago's investment regime is ge nerally open to foreign investors.  CARICOM 
citizens and companies are guaranteed the same treatment as domestic inv estors;  in addition, Trinidad 
and Tobago has signed a series of bilateral investme nt treaties offering national treatment to foreign 
investors.  Also, approval is required for the acquis ition by foreigners of commercial and residential 
land over a certain limit, and foreign investors wishi ng to own more than 30% of the share capital of a 
local public company must obtain a licence. 
(2) T
RADE POLICY FORMULATION AND IMPLEMENTATION  
(i) General constitutional and legal framework 
6. No major changes with respect to the genera l constitutional and legal framework have taken 
place since Trinidad and Tobago's last Review in  1998, with the exception of the creation of the 
Caribbean Court of Justice.  The Republic of Tr inidad and Tobago is a parliamentary democracy, 
governed by a bicameral Parliament, comprising a Senate and a House of Representatives.  The 
Senate consists of 31 Senators a ppointed by the President for a maximum term of five years.  The 
House of Representatives consists of 36 Members el ected by popular vote, at general elections, to 
serve five-year terms.  Tobago has a unicameral House of Assembly, comprising 15 members serving four-year terms, which exercises powers over local a ffairs that have been delegated by Parliament. Trinidad and Tobago WT/TPR/S/151 
 Page 15 
 
 
7. The President is elected for a five-year term by an electoral college, which consists of 
the members of the Senate and House of Representatives, voting by secret ballot.  The President is the repository of all executive authority, which is exercised by the Cabinet and the Prime Minister.  
The President is also responsible for the summoni ng, prorogation and dissolution of Parliament.  
The Prime Minister is the head of Government, pr esides over the Cabinet, and is responsible for the 
allocation of functions among ministers.  The ot her members of the Cabinet are chosen from among 
the members of the House of Representatives and the Senate.  The Cabinet initiates and decides on 
policy and also coordinate s government departments. 
8. The legal system of Trinidad and Tobago is based on English Common Law.  
The Constitution is the supreme law.  Laws in Trin idad and Tobago are enacted by Parliament, based 
on bills passed by the House of Re presentatives and the Senate and assented to by the President.  
Bills may be introduced in either House of Pa rliament, with the exception of money bills which 
cannot be introduced in the Senate.  After assent, a bill is published as an Act of Parliament in the 
Trinidad and Tobago Gazette .  However, an Act, although assented to, does not necessarily come into 
immediate operation:  the date of commencement, sp ecified in the Act, may be the date of assent by 
the President, or a date to be fixed by proclamation.
1  Legislative Acts are subject to judicial review in 
the Supreme Court of Judicature.  Internationa l treaties and agreements  have no legal effect 
domestically unless they have been incorporated into domestic law. 
9. The judiciary is independent of the Executive and the legislature.  The Chief Justice is 
the Head of the Judiciary, which comprises a Supreme Court and district courts (magistracy).  
The Supreme Court consists of the High Court an d the Court of Appeals.  The High Court and the 
magistracy exercise original jurisdiction in civil a nd criminal matters.  There is also an Industrial 
Court and a Tax Appeal Board, which are both high courts.  The highest court of appeal is the 
Privy Council in London.  However Trinidad and Tobago, along with other members of the 
Caribbean Community (CARICOM) have established a Caribbean Court of Justice (CCJ).  In 
February 2005, Trinidad and Tobago passed legislation for its par ticipation in the CCJ (see below).  
The CCJ will have original jurisdiction concerni ng the interpretation of the Revised Treaty of 
Chaguaramas.  The Privy Council, howeve r, remains the final court of appeal. 
(ii) Trade and investment policy objectives 
10. The authorities' overall trade policy objec tive is to position Trinidad and Tobago as a 
manufacturing base and the commercial, trans-shipment, and financial hub of the Western 
Hemisphere.  This envisages the full exploitation of  Trinidad and Tobago's location as the gateway to 
South America and its "integration into the Latin American hinterland".2  To achieve their overall 
trade policy objective, the authorities intend to place emphasis on expanding Trinidad and Tobago's 
trade frontiers, ensuring a supportive tax regime for the re-tooling of industry, lowering the cost of 
doing business in Trinidad and Tobago, promotin g investment in human capital, and improving 
overall economic efficiency.  The la tter is sought through the execution of effective trade, investment, 
and industrial policies and programmes. 
11. Trinidad and Tobago's trade policy is based on diversifying the economy by facilitating the 
expansion of the non-oil manufacturing sectors through  the provision of enabling policy legislation 
and the negotiation of trade agreements with third countries.3  The authorities have noted that trade 
                                                      
1 Parliament of Trinidad and Tobago online inform ation.  Available at:  http://www.ttparliament.org/ 
bills/lawmaking.htm. 
2 Ministry of Trade and Industry (2004). 
3 Ministry of Trade and Industry online informati on.  Available at:  http://www.tradeind.gov.tt/news/ 
2003/FTAA%20_Trinbago.pdf. WT/TPR/S/151 Trade Policy Review 
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policy would "focus on the further liberalization of domestic markets, the continuation of the 
divestment programme and the upgrading of all aspects of infrastructure".4  In formulating trade 
policy, the authorities recognize the trend towards th e elimination of trade preferences in favour of 
reciprocal trading agreements.5 
12. Trinidad and Tobago also seeks to enhan ce competitiveness and promote growth by 
encouraging foreign and domestic investment.  In this regard, investment procedures have been 
streamlined, and measures to diminish trade barriers, such as the gradual reduction or removal of import surcharges on agricultural products, have been put in place. 
13. Trade policy is formulated in the context of  Trinidad and Tobago's participation in the 
Caribbean Community and Common Market (CAR ICOM), which aims to establish a CARICOM 
Single Market and Economy in 2005 (see below).  The constitution of the single market implies that a growing number of trade policy decisions are being taken in harmony with considerations at the 
regional level. 
14. The Government's main development goal is fo r Trinidad and Tobago to attain developed-
country status by 2020;  to this end, it launc hed the Vision 2020 Planning Exercise in 2002.  The 
strategic focus of the Exercise is on promoting a high level of human devel opment and standard of 
living.  Underpinning the thrust towards Vision 2020 is the intention to leverage the revenues derived 
from the energy sector and other sectors to create conditions for long-term sustainable growth and 
development.  A Vision 2020 Planning Committee was established to direct the planning exercise and 
prepare a National Strategic Development Plan.  The authorities note that Vision 2020 was devised in 
the context of Trinidad and Tobago's participa tion in the CSME, and they consider that such 
participation will strengthen Trin idad and Tobago's position in nego tiations with developed countries 
and the larger trading blocs and contribute to the achievement of Vision 2020. 
15. Despite the increased emphasis on diversificati on, the hydrocarbons sector is critical to the 
attainment of Vision 2020.  The main goals of the Government's policy in the sector are to attract foreign investment in exploration activities so as  to increase hydrocarbon reserves, to increase the 
value added from natural gas production, and to bols ter revenue intake through the introduction of a 
new energy tax regime for oil and gas.  A strong ag riculture sector is also considered crucial to the 
Government's Vision 2020, as is the development of  the tourism sector.  Other sectors of specific 
focus are high-tech growth industries, light -manufacturing, and services and construction.
6 
16. As part of its diversification plan, the G overnment aims to develop a knowledge-based 
economy.  To achieve this goal, it launche d the National Information and Communication 
Technologies Strategic Plan (ICT Plan) in October 2002.  The ICT Plan was completed in September 
2003, and has been approved for implementation.  W ith respect to the multilateral trading system, the 
Government is seeking to negotiate enhanced ma rket access conditions in recognition of the erosion 
or phasing-out of preferential trading agreements. 
(iii) Trade policy formulation and implementation 
17. The Ministry of Trade and Industry has overall responsibility for trade policy formulation and 
implementation.  Its goal is to develop policies and strategies to promote trade and investment and to 
                                                      
4 Ministry of Trade and Industry (2004). 
5 Ministry of Trade and Industry online informati on.  Available at:  http://www.tradeind.gov.tt/news/ 
2003/FTAA%20_Trinbago.pdf. 
6 Ministry of Finance (2003). Trinidad and Tobago WT/TPR/S/151 
 Page 17 
 
 
facilitate industrial development.7  Some of the Ministry's specific trade objectives include the 
negotiation and management of Trinidad and Tobago's participation in trade and economic 
arrangements, fostering commercial relations with trading partners, and enhancing export 
competitiveness.  The Ministry of Trade and Industry has responsibility for WTO matters.  The 
Ministry of Foreign Affairs, in collaboration with  the Ministry of Trade and Industry, represents 
Trinidad and Tobago at the WTO. 
18. The Standing Advisory Committee on Trade a nd Related Matters, headed by the private 
sector, advises the Minister of Trade and Industry  on trade policy formulation.  The Technical 
Coordinating Committee, headed by the Permanent S ecretary of the Ministry of Trade and Industry, 
and comprising representatives from the public and private sectors and civil society, advises the 
Minister of Trade and Industry on trade policy issues taking the national perspective into account. 
19. The Trade Promotion and Development Department  of the Ministry of Trade and Industry has 
the task of coordinating Trinidad and Tobago's positi on in regional and international trade agreements 
and negotiations, and is responsible for matters dealing with  the WTO, the FTAA, ACP-EU and 
CARICOM.  The Industrial Development and Inward Investment Unit of the Ministry is responsible 
for formulating, monitoring, and evaluating po licies and for implementing recommendations and 
plans relating to industrial development and investment promotion. 
20. The Ministry of Trade and Industry works closel y with other institutions such as the Tourism 
and Industrial Development Company (TIDCO), est ablished in May 1995 as the national promotional 
agency for investment and tourism.  TIDCO is a conduit for the implementation of trade policy and 
provides feedback in the formulation of trade policy. 
21. The Ministry of Finance is ultimately respons ible for tariff and customs administration, as 
well as for other taxation and fiscal incentives issues.  The Customs Administration is responsible for 
policy implementation at the border and works closely with the Ministry of Trade and Industry.  The 
Ministry of Agriculture, Land and Marine Resour ces is responsible for agricultural policy and for 
issuing sanitary and phytosanitary permits.  The Ministry of Energy and Energy Industries (MEEI) is 
responsible for administration, regulation, and polic y formulation relating to the hydrocarbons sector.  
The MEEI  is responsible for granting concessi ons, licences, and contracts for the conduct of 
petroleum operations.  The Ministry of Foreign A ffairs provides input for the political dimension of 
trade agreements. 
(3) FOREIGN INVESTMENT REGIME  
22. An important element of Trinidad and Tobago's trade and development policy is to encourage 
domestic investment and attract foreign investment .  The Government's policy of attracting foreign 
investment has resulted in a number of large i nvestments in the hydrocarbons sector and related 
industries in recent years (Chapter IV(3)).  The Fo reign Investment Act, 1990, governs the foreign 
investment regime.  New i nvestment legislation is being prepared ;  in May 2005, consultations were 
taking place on an investment policy to accompany the legislation to be put before Parliament.  
Following an amendment to the Foreign Investme nt Act in early 2005, foreign investors are 
understood to be those other than from CARICOM origin.  The only activities legally closed to 
foreign investment are water production and distribu tion, and postal services, although the latter are 
currently being operated under concession by a foreign firm.  Since the last Re view of Trinidad and 
                                                      
7 Ministry of Trade and Industry online information.  Available at:  http://www.tradeind.gov.tt/ 
about_us/about%20MTI.htm. WT/TPR/S/151 Trade Policy Review 
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Tobago, the petroleum retail industry has been de-m onopolized;  local competitors have been allowed 
since 1997, and foreign competitors since 1999.8 
23. Restrictions to foreign investment are in place in a few cases and national treatment is not 
automatically extended to foreign investors.  Unde r the Foreign Investment Act, approval is required 
for the acquisition by foreign investors of commerc ial and residential land over a certain limit (five 
acres for business and one acre for residential pur poses).  Also, although a foreign investor is 
permitted to own 100% of the share capital in a private company, the investor must notify the 
Minister of Finance prior to making the investment;  foreign investors who wish to own more than 30% of the share capital of a local public company must obtain a licence.  The authorities note that 
there were 294 application for land ownership in the period 1998-04, of which 234 were granted. 
24. Under the Companies Act, a foreign investor  may purchase shares in a local corporation, 
incorporate or set up a branch office in Trinidad a nd Tobago, or form a joint venture or partnership 
with a local entity, subject to th e provisions and limitations of the Foreign Investment Act.  Branches 
or foreign companies that establish a place of busine ss in Trinidad and Tobago are required to register 
within 14 days of their establishment. 
25. There are no legal performance requirements for investors but, through negotiated incentives, 
the Government encourages projects that genera te employment and foreign exchange, provide 
training and/or technology transfer, increase exports, and have local content (see also 
Chapter III(4)(iii)).  In some cas es, incentives are made available only if the company is locally 
owned:  this is the case for approved property development companies in the construction sector, 
which are granted an allowance against their taxabl e income of 15% of construction costs, and of 
approved small companies, which may benefit from a reduction in their income tax rate, from 30% to 
15%.
9  There are no restrictions on repatriation of cap ital, profits, dividends, interest, distributions or 
gains on investment. 
26. Disputes involving investment issues may be handled by the High Court of Justice, which has 
jurisdiction over all matters involving sums in exce ss of TT$15,000;  the Court can grant relief such 
as acclamation injunctions and public law remedies .  In general, however, disputes are addressed 
following the procedures for settling investment dis putes detailed in Trinidad  and Tobago's various 
BITs.  In this regard, parties to a dispute may usually choose whether to submit their dispute to a 
domestic or to an international dispute settlement  mechanism.  Trinidad and Tobago is a member 
of the International Center for the Settlement of Investment Disputes (ICSID) and has ratified the 
New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards. 
27. Trinidad and Tobago is a signatory to the IC SID Convention and the Multilateral Investment 
Guarantee Agency (MIGA). 
28. Trinidad and Tobago has entered into Bilate ral Investment Treaties (BITS) with Canada, 
China, Cuba, France, South Korea, Spain, the United Kingdom, and the United States  All these 
agreements have been ratified by Trinidad and Tobago.10  These BITs generally provide for national 
treatment, and contain dispute settlement procedures.  The BIT with the United States explicitly prohibits mandatory performance require ments as a condition for investment. 
                                                     
 
8 TIDCO (2003), p. 36. 
9 TIDCO (2003), pp. 88 and 89. 
10 TIDCO (2003), p. 36. Trinidad and Tobago WT/TPR/S/151 
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(4) INTERNATIONAL RELATIONS  
(i) World Trade Organization 
29. Trinidad and Tobago has been a WTO Member since 1 March 1995.11  Trinidad and Tobago 
grants at least MFN treatment to all its trading pa rtners.  The WTO Agreements must be incorporated 
into domestic law to have the force of law, a nd may not be invoked directly in domestic courts. 
30. In the Uruguay Round, Trinidad and Tobago b ound all its tariffs at ceiling rates, without 
prejudice to previous bindings.  Trinidad and Tobago also made specific commitments under the 
General Agreement on Trade in Services (GATS) in a number of subsectors (Chapter IV(6)).  It also 
participated and made concessions in the extende d negotiations on basic telecommunications, but did 
not make commitments in the extended negotiatio ns on financial services.  Trinidad and Tobago 
tabled an offer in the negotiations on services within the framework of the Doha Development 
Agenda in June 2005.12 
31. During the period under review, Trinidad and T obago has continued to fulfil its notification 
obligations under the WTO Agreements.  Althoug h by and large notifications seem to be 
comprehensive and up to date, there are a few exceptions, for example concerning state trading 
enterprises (Chapter III(4)(iv)), wh ere the most recent was in 1998. 
32. Trinidad and Tobago has been an active s upporter of efforts to promote special and 
differential treatment (S&D) for developing countries.  In the context of the DDA, it has declared that 
it considers S&D integral to the negotiating process,  and has made a submission, on behalf of the 
ACP Group, urging progress in the discussions on oper ationalization of S&D in  the post Doha era and 
on implementation issues.13  With respect to non-agricultural market access, Trinidad and Tobago, 
together with ACP and CARICOM pa rtners, has also called for, among other things, balanced results 
that accommodate the issues affecting the more vul nerable Members of the WTO and for meaningful 
S&D treatment.  Trinidad and Tobago has advocated  "less than full reciprocity" as a key principle in 
the formulation of the modalities for tariff reduction.14 
33. With regard to services liberalization, Trinidad  and Tobago has mentioned the need to ensure 
that the negotiations on trade in services are co nducted in a way that facilitates the increasing 
participation of developing countries.15 
34. To date Trinidad and Tobago has not been a plai ntiff before the DSB.  However, it has been a 
respondent in a case regarding an anti-dumping inv estigation it conducted on imports of macaroni and 
spaghetti from Costa Rica (see also Chapter III(2)(viii)).16 
                                                      
11 WTO document WT/LET/7, 14 February 1995. 
12 WTO document TN/S/O/TTO, 21 June 2005. 
13 WTO Document TN/C/W/16, WT/GC/W/528, 5 April 2004. 
14 WTO document TN/MA/W/30, 25 March 2003. 
15  WTO documents TN/S/W/16, 25 July 2003, and TN/S/W/7, 28 October 2002. 
16 WTO document WT/DS187/1, G/L/344, G/ADP/D22/1, 20 January 2000.  Prior to the application of 
provisional anti-dumping measures, the same case had been the object of another request for consultations by Costa Rica, contained in WTO document WT/DS185/1, G/L/343, G/ADP/D21/1, 23 November 1999. WT/TPR/S/151 Trade Policy Review 
Page 20 
 
 
(ii) CARICOM and related agreements 
(a) CARICOM 
35. Trinidad and Tobago is one of the 15 memb er States of the Caribbean Community and 
Common Market (CARICOM).17  Trinidad and Tobago has the largest economy within CARICOM, 
accounting for about 30% of its GDP and over 50% of  exports.  CARICOM was created by the Treaty 
of Chaguaramas in 197318;  by the Revised Treaty effective Fe bruary 2002, the union became the 
Caribbean Community including the CARICOM Single Market and Economy (CSME).19  Trinidad 
and Tobago is one of the five more developed c ountries (MDCs), together with Barbados, Guyana, 
Jamaica, and Suriname;  all other member states are "less developed countries" (LDCs). 
36. The original Treaty of Chaguaramas was amende d by nine protocols covering various areas, 
including trade policy, services, consumer protect ion, competition policy, transport policy, and 
agricultural policy.  The protocols have been cons olidated into the Revised Treaty, which forms the 
legal basis for the establishment of the CSME and is  expected to be implemented by all members by 
31 December 2005.  Trinidad and Tobago has ratified the Revised Treaty, and, along with Barbados and Jamaica, has made commitments to fast-track the implementation of the single market as of 
1 July 2005;  the legislation to this effect (Act  No. 3 of 2005) was assented on 17 February 2005, and 
was proclaimed on 23 May 2005 through Notice 110 of 2005.
20  Information on the Revised Treaty 
was submitted to the WTO Committee on Regi onal Trade Agreements in July 2003.21 
37. The CSME aims to integrate all CARICOM member states into a single economic entity 
allowing for the free movement of people, capital, goods, and services, and to eventually provide for a 
single economic and trade policy for all CARICOM states.22  The consolidation of the CSME required 
the adoption of national programmes for the remo val of intra-CARICOM restrictions:  members 
committed to eliminate all legislative and administrative restrictions on the provision of services by 31 December 2005, by which date service providers from one member will be entitled to full market 
access and national treatment in the receiving member  state.  In Trinidad and Tobago, this was 
legislated through Act No. 2 of 2005, the Caribbe an Community (Removal of Restrictions) Act, 
assented in January 2005, as well as other instrument s (Chapter IV(6)(i)).  Information on the new 
services regime was submitted to the WTO Committee on Regional Trade Agreements in 
                                                     
 
17 The Agreement was notified to the GATT 1947 unde r GATT Article XXIV in October 1974 as an 
interim agreement for the formation of a customs union;  in the WTO, the goods aspects of CARICOM is under 
the legal cover of Article XXIV of the GATT 1994.  The services aspects of CARICOM have been notified to 
the WTO Council for Trade in Services in February 2003 (WTO document S/C/N229, 19 February 2003).  On 28 February 2003, the Council for Trade in Services ad opted the terms of reference for the examination of the 
services aspects of the Agreement, and transmitted the examination to the Committee on Regional Trade 
Agreements (WTO document S/C/M/65, 21 March 2003). 
18 CARICOM members are:  Antigua  and Barbuda, Bahamas, Barba dos, Belize, Dominica, Grenada, 
Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis,  St. Lucia, St. Vincent and the Grenadines, Suriname, 
and Trinidad and Tobago.  The Bahamas is a member of the Community but not of the Common Market.  
CARICOM has five associate members:  Anguilla, Bermuda , British Virgin Islands, Turks and Caicos, and the 
Cayman Islands.  The Bahamas and Haiti are not partic ipating in the Single Market Initiative, nor are the 
associate members. 
19 Revised Treaty of Chaguaramas establishing the Caribbean Community including the CARICOM 
Single Market and Economy. 
20 Part I of Act No. 3 of 2005 specifies that the Act will come into effect on the date of proclamation by 
the President. 
21 WTO document WT/REG155/1, 8 July 2003. 
22 WTO document WT/REG92/R/B/1, G/L/359, 12 April 2000. Trinidad and Tobago WT/TPR/S/151 
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September 2004;  it was accompanied by data on trade in services by CARICOM members.23  
Trinidad and Tobago, together with other CARI COM members, submitted answers to the questions 
posed on this issue in January 2005.24 
38. The main CARICOM decision-making body is the Conference of Heads of Government, 
vested with the final authority for concluding any treaties involving CARICOM.  Next in the 
hierarchy is the Community Council of Ministers, which engages in strategic planning and coordination of matters of economic integration and external relations with third states.  Both the 
Conference and the Council are supported by orga ns dealing with specific areas or issues;  for 
instance, in the area of international trade,  the Council for Trade and Economic Development 
manages internal and external trade and economic development issues, and has general oversight of 
operations relating to the CSME.  The Caribbean Community Secretariat is CARICOM's principal 
administrative organ.
25 
39. Dispute settlement procedures are defined in th e Treaty of Chaguaramas (Articles 11 and 12) 
and the Revised Treaty (Chapter IX).  CARICOM has established a Caribbean Court of Justice (CCJ).  The CCJ is charged with the interpretation and appl ication of the Revised Treaty and has exclusive 
jurisdiction with respect to dispute settlement und er the Treaty and, in some member countries, 
replaces the Judicial Committee of the Privy Counc il as the final court of appeal.  Trinidad and 
Tobago hosts the headquarters of the CCJ.  A bill to  enact the agreement to establish the court into 
domestic legislation was passed in Parliament in Fe bruary 2005 and became Act No. 8 of 2005, which 
was assented on 16 March 2005.  
40. Since April 1997, the CARICOM has worked th rough the Caribbean Regional Negotiating 
Machinery (CRNM) to coordinate information and efforts in trade negotiations, including in the 
WTO.  The CRNM works to develop a cohesive fra mework for the coordination and management of 
the region's negotiating resources, assists member st ates in preparing nationa l positions, coordinates 
the formulation of unified strategies for the region, and undertakes and leads negotiations where 
appropriate.
26 
(b) Bilateral agreements betwee n CARICOM and other countries 
41. A s  a  m e m b e r  o f  C A R I C O M ,  T r i n i d a d  a n d  T o bago has signed bilateral agreements with 
Venezuela, Colombia, the Dominican Republic, Cost a Rica, and Cuba.  The last three have been 
signed since Trinidad and Tobago's last Review in 1998.  None of these agreements have been 
notified to the WTO. 
CARICOM-Venezuela 
42. The 1993 CARICOM-Venezuela Trade and Investme nt Agreement is a one-way preferential 
agreement granting most CARICOM exports to Ve nezuela preferential or duty-free access.  The 
agreement also seeks to foster investment and to facilitate joint ventures between the two parties.  
Tariffs have been eliminated on 22% of products (mostly fresh produce, confectionery, cosmetics, 
jams and jellies, medicines, wooden furniture, horticultural products, spices, processed foods, and 
toilet preparations), while 67% of products enjoy tariff reductions.  As a result, the average tariff 
                                                      
23 WTO documents WT/REG155/2, 27 September 2004, and WT/REG155/3, 30 September 2004. 
24 WTO document WT/REG155/4, 11 February 2005. 
25 Revised Treaty of Chaguaramas, Articles 10-17. 
26 Caribbean Regional Negotiating Machinery online information.  Available at:  http://www.crnm. 
org/about.htm. WT/TPR/S/151 Trade Policy Review 
Page 22 
 
 
applied by Venezuela to CARICO M imports is about one third lo wer than Venezuela's MFN tariff.27  
The signatories are allowed to apply measures to co unter dumping and subsidies.  Disputes may be 
resolved through the Joint Council, but its recommendations are not binding. 
CARICOM-Colombia 
43. The CARICOM-Colombia Agreement on Trade,  Economic and Technical Cooperation was 
signed on 24 July 1994;  it provides for trade liber alization and facilitation (including the exchange of 
preferences), as well as promotion and protection of investment.  The agreement, originally unilateral, was revised in mid 1999 to become reciprocal in relation to four CARICOM MDCs, namely 
Barbados, Guyana, Jamaica, and Trinidad and Toba go.  The agreement has not been enacted into 
domestic legislation by Trinidad and Tobago.  Neve rtheless, tariff concessions have been granted to 
Colombia through an administrative arrangement ma de under section 9 of the Customs Act to give 
preferential treatment to goods originating in Colombia. 
44. The agreement phased in tariff reductions on a lis t of selected products:  its Annex II contains 
a list of products on which tariffs were eliminat ed in mid 1999, and Annex III a list for possible 
phased reduction of duties, but these have not been implemented.  The agreement also provides for 
the phasing out of any non-tariff barriers and incl udes provisions for safeguard  measures in the event 
of balance-of-payments problems or of injury or  threat thereof to domestic production.  The 
agreement is administered by a CARICOM-Co lombia Joint Council on Trade, Economic and 
Business Co-operation and contains its own dis pute settlement provisions;  disputes regarding 
subsidies and anti-dumping are to be taken to the WTO. 
CARICOM-Dominican Republic 
45. A free-trade agreement signed by CARICOM and the Dominican Republic in 1998, was 
enacted in Trinidad and Tobago through  the Caribbean Community (CARICOM) 
Dominican Republic Free Trade Act, 2001 (Act No. 10 of 2001).  The agreement provides for the mutual granting of tariff concessions by Trinidad  and Tobago and other CARICOM MDCs and the 
Dominican Republic.  CARICOM LDCs are not requi red to make tariff concessions in favour of 
products from the Dominican Republic until 2005.
28  In the case of Trinidad and Tobago, the 
agreement provides for the duty-free access for all goods  other than those set out in appendices II and 
III to the agreement;  the phased reduction of th e MFN rate of duty on goods in Appendix II29;  and 
the application of the MFN rate of duty to goods in Appendix III.30  The phased MFN-rate reduction 
for goods in Appendix II is being implemented (as at end May 2005);  orders to grant preferential 
treatment to goods from the Dominican Republic have not  been made as yet.  In addition to trade in 
goods, the agreement has a built in agenda to furt her develop the areas of services, investment, and 
government procurement. 
                                                      
27 WTO (2002), p. 140. 
28 CRNM online information.  Available at:  http ://www.crnm.org/bilateral. htm#CARICOMDominican 
%20Republic. 
29 Anthuriums, ginger lilies, orchids, and heliconias , fresh (Ex 06.03);  coffee (09.01);  sausages 
(Ex 16.01);  bacon (Ex 16.02);  pasta (19.02);  bisc uits  (Ex 19.05);  jams, fruit jellies and marmalades 
(Ex 20.07);  passion fruit juice (Ex 20.09);  soups and broths (Ex 21.04);  rum (Ex 22.08);  essential oils of lime (Ex 33.01);  perfumes and toilet waters (33.03);  boxes (Ex 3923.10);  sacks and bags of polymers of ethylene 
(3923.21);  sacks and bags of other plastics (3923.29);  trays and cups (Ex 3923.90);  tableware of plastics 
(Ex 39.24);  crates and boxes of paper or paperboard (Ex 48.19);  footwear with rubber soles (64.02);  mattresses (Ex 94.04). 
30 Goods in Appendix III of the agreement are mostly , but not only agricultural products.  The complete 
list, including HS heading description, is available online at:  http://www.caricom.org/archives/agreement-
caricom-domrep-protocol.htm. Trinidad and Tobago WT/TPR/S/151 
 Page 23 
 
 
CARICOM-Cuba 
46. A Trade and Economic Agreement between CA RICOM and Cuba, signed on 5 July 2000, 
provides for duty-free treatment on specified goods.  There is a seasonal list of agricultural products for which the agreement outlines sp ecific treatment.  The agreement provides additionally for the 
elimination of tariffs on a specialized list of  products, through four annual reductions.
31  T h e  
agreement also deals with taxation, trade promoti on and facilitation, services, tourism, investment, 
intellectual property rights, and other topics.  A Protocol for the Provisional Application of the 
Agreement was signed by Trinidad and Tobago an d other CARICOM members in December 2002.  
However, Trinidad and Tobago has not yet passed any domestic legislation to implement the 
agreement and, hence, it has not entered into for ce.  The authorities indicate that a Bill has been 
drafted. 
CARICOM-Costa Rica 
47. The CARICOM-Costa Rica Free Trade Agreement was signed on 9 March 2004.  This 
agreement is reciprocal in so far as CARICOM MDCs are concerned.32  Trinidad and Tobago has 
passed the Caribbean Community (CARICOM) Costa Rica Free Trade Act (Act No. 4 of 2005) to 
give effect to the Free Trade Agreement.   The Act is awaiting Presidential assent. 
48. The agreement provides for free trade or pref erential access for a wide range of products, 
excluding sensitive products.  When the agreement co mes fully into effect, 95% of tariffs will be 
phased out.  Duties on some products will be phased out by 1 January 2007.  The limited number of products that will continue to attract duty include , for CARICOM, a range of agricultural products 
(meat, dairy products, fruit, and vegetables), and a few manufactured goods, such as furniture, some 
paints, bottles, and candles.  There is also a lis t of agricultural products subject to seasonal MFN 
duties but duty free for the rest of the year.  In the case of Trinidad and Tobago, this list is limited, 
comprising mainly tomatoes, cabbages, sweet po tatoes, cucumber, lettuce, and some fruit.  
CARICOM products covered by the Oils and Fats Agreement are exempt from the scope of the FTA. 
49. Apart from trade in goods, the FTA contains anti-dumping and sanitary and phytosanitary 
provisions and provides for dispute settlement.  The agreement provides for a review of developments 
in relation to trade in services, investment, compe tition policy, and government procurement within 
two years of the date of its entry into force. 
(iii) Non-reciprocal arrangements 
(a) ACP-EU Partnership Agreement 
50. Trinidad and Tobago's exports are granted pr eferential access to the EU market under the 
African, Caribbean, and Pacific European Union Pa rtnership Agreement (Cotonou Agreement).  This 
Agreement, signed in June 2000 and with a dura tion of 20 years, represents the most recent 
framework for ACP-EU cooperation.  New terms for the trade aspects of the agreement are to 
be negotiated between September 2002 and 31 Dece mber 2007 at the latest.  Negotiations for 
economic partnership agreements ( EPAs) will be aimed, notably, at establishing the timetable for the 
                                                     
 
31 The Briefing Room online information.  Availabl e at:  http://www.thebriefingroom.net/tb20.html. 
32 CARICOM Press Release 32/2004, 10 March 2004, "CARICOM and Costa Rica Sign Free Trade 
Agreement".  Available at:  http://www.ca ricom.org/pressreleases/pres32_04.htm. WT/TPR/S/151 Trade Policy Review 
Page 24 
 
 
substantial liberalization of trade between the pa rties, in accordance with the relevant WTO rules.33  
The new trading arrangements are expected to enter into force by 1 January 2008. 
51. The CARIFORUM-European Union negotiations for an EPA were officially launched in 
Kingston in April 2004.34  The negotiations are expected to  conclude in December 2007.  The 
negotiations are being conducted at three levels:  ministerial, principal negotiator, and subject-
specific. 
(b) Caribbean Basin Initiative 
52. Trinidad and Tobago enjoys preferential access to  the U.S. market under the Caribbean Basin 
Initiative (CBI), established in 1984 by the United States under the Caribbean Basin Economic 
Recovery Act (CBERA) to provide duty-free entr y to products from the Caribbean and Central 
America.  The CBI was revised in 19 90 and given an indefinite duration.35  The CBERA, enhanced by 
the Caribbean Basin Trade Partnership Act (CBTPA), provides additional preferential access for most goods from the 24 CBI beneficiary countries;  CB TPA benefits are availa ble until September 2008.
36 
53. Trinidad and Tobago is the main CBI benefici ary in the English-speaking Caribbean;  its 
benefits have been increasing over time.  In 2002, the United States imported US$1.2 billion under 
CBERA from Trinidad and Tobago, up from US$328 m illion in 2000.  Methanol is the major export 
from Trinidad and Tobago under the CBI.  Trinidad  and Tobago is the leading CBTPA producer of 
non-apparel products, mostly petrol eum products.  Trinidad and Tobago is also the leading supplier 
under CBERA of iron and steel bars and rods.37 
(c) CARIBCAN 
54. Trinidad and Tobago enjoys preferential access  to the Canadian market through CARIBCAN, 
a programme for trade, investment, and indu strial cooperation between Canada and the 
Commonwealth Caribbean countries, which extends duty-free treatment to nearly all qualifying 
imports from these countries.38  Created in 1986, the programme covers textiles, clothing, footwear, 
luggage and handbags, leather, oils , lubricating oils, and methanol.  To qualify for duty-free access to 
Canada, 60% of the ex-factory price of a product must originate in any beneficiary country or in 
Canada.  CARIBCAN includes provisions that allo w Canadian producers recourse to the Canadian 
Tariff Board in case duty-free imports from the beneficiary countries are deemed to cause or threaten injury. 
(d) Generalized System of Preferences (GSP) 
55. Trinidad and Tobago's products are eligible fo r the GSP schemes of Australia, Canada, the 
European Union, Japan, New Zealand, Ru ssia, Switzerland, and the United States. 
                                                     
 
33 Cotonou Agreement, Chapter II.  Available online at:  http://europa.eu.int/comm/development/body/ 
cotonou/agrement/agr18_en.htm. 
34 The CARIFORUM comprises CARICOM countries and the Dominican Republic. 
35 WTO document G/L/25, 15 September 1995. 
36 For further details see WTO (2004). 
37 United States International Trade Commission (2003) and United States  Trade Representative 
(2002). 
38 Canada was granted a waiver to its obligations under Article I of the GATT in 1986 (L/6102).  The 
waiver was renewed for ten years by the WTO Gene ral Council on 14 October 1996 (WT/GC/M/15). Trinidad and Tobago WT/TPR/S/151 
 Page 25 
 
 
(e) Global System of Trade Preferences (GSTP) 
56. Trinidad and Tobago is one of the 43 countries that has ratified the Global System of Trade 
Preferences (GSTP);  however, it did not participate in the exchange of tariff concessions in the 
second round of negotiations.  A third round of tr ade negotiations was launched in São Paulo in 
June 2004 envisaging a "package of substantial trade liberalization commitments" to promote 
economic complementarities among participating countries.39  Trinidad and Tobago does not grant 
any preferences under the GSTP, nor has it received any in recent years. 
(iv) Other agreements and negotiations 
57. The FTAA was launched at the Summit of the Americas in Miami in December 1994 when 
34 countries from the Western Hemisphere agreed to form a free-trade area, while maintaining 
consistency with WTO rules as well as pre-existing bilateral agreements between member states.40  
Trinidad and Tobago is vying for Port-of-Spain to be the permanent site for the headquarters of the 
eventual FTAA Secretariat.  The negotiations are currently recessed. 
58. Trinidad and Tobago is one of the 25 memb er states and hosts the headquarters of the 
Association of Caribbean States (ACS), establishe d in 1994 to strengthen regional cooperation and 
integration, especially on trade, transport, and sustaina ble tourism.  With respect to trade, the aim is to 
merge positions in areas of common interest in  negotiations, such as the FTAA and the WTO, 
especially on the treatment of small economies. 
59. As at March 2005, CARICOM was in discu ssions with Canada and MERCOSUR towards 
commencing the negotiation of FTAs. 
(5) TRADE RELATED TECHNICAL ASSISTANCE  
60. Trinidad and Tobago benefits from technical assistance from various sources, but is also a 
provider of technical assistance to less deve loped countries in the Caribbean region. 
61. WTO technical assistance has focused on increasing government officials' understanding of 
WTO-related issues.  Between 1 January 1998 and 1 April 2005, Trinidad and Tobago participated in 
74 technical assistance activities, including mostly regional seminars and workshops and Geneva-
based trade policy courses, as well as five nationa l training activities.  These have covered a broad 
range of WTO subjects, including customs valuati on, technical barriers to trade, sanitary and 
phytosanitary measures, services, textiles, dis pute settlement, market access, anti-dumping, subsidy 
disciplines, government procurement, and related issues such as competition policy, trade facilitation 
and investment.  In 2004, Trinidad and Tobago ho sted the regional workshop on Transparency in 
Government Procurement. 
62. As a recipient of assistance, Trinidad and T obago has benefited from the World Bank Country 
Assistance Strategies (CAS), with a focus on accelerating growth, creating new economic 
opportunities, and fine-tuning the role of the public sector.  Other entities that have provided technical 
assistance funds to Trinidad and Tobago include th e Caribbean Regional Technical Assistance Centre 
(CARTAC), Canadian Internati onal Development Agency, Commonwealth Secretariat, European 
Commission, Organization of American States, Pa n American Health Organization, United Nations 
                                                      
39 UNCTAD Press Release, UNCTAD/PRESS/PR/SPA/2004/010, 17 June 2004, "Developing 
Countries Launch New Round of Trade Negotiations".  Available at:  http://www.unctad.org/Templates/ 
Webflyer.asp?docID=4913&intItemID=1418&lang=1. 
40 FTAA online information.  Available at:  http://www.ftaa- alca.org/alca_e.asp. WT/TPR/S/151 Trade Policy Review 
Page 26 
 
 
Conference on Trade and Development, Interna tional Trade Center, United Nations Development 
Programme, United Nations Environment Pr ogramme, United Nations Population Fund, 
United Nations Volunteers Programme, United States Agency for International Development, Inter 
American Development Bank, World Intellectual Prope rty Organization, and the WTO.  Trinidad and 
Tobago has also been the beneficiary of technical  assistance funds or programmes from a number of 
governments.  Trinidad and Tobago has received technical assistance, on the bases of memoranda of 
agreement, from Argentina, China, Cuba, India, Israel, Japan, Malaysia, Mexico, the Netherlands, 
Singapore, and Venezuela. 
63. As a provider of technical assistance, the Govern ment of Trinidad and Tobago established the 
CARICOM Trade Support Programme as a loan fac ility of TT$100 million (US$16.5 million).  The 
Programme is designed to assist CARICOM states to enhance their economic performance by fostering diversification and improved trade capacity.  The fund, which is a revolving loan, is to be disbursed on an interest-free basis to firms in CARICOM, except those located in Trinidad and 
Tobago, to procure technical assistance/consultancy service and/or training programmes, among others, for business developm ent and improvement projects.
41 
                                                      
41 Ministry of Trade and Industry online information.  Available at:  http://www.tradeind.gov.tt/ 
about_us/about%20MTI.htm.