WT/TPR/S/260/Rev.1 Trade Policy Review 
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II. TRADE POLICY REGIME: FRAMEWORK AND OBJECTIVES 
(1) GENERAL CONSTITUTIONAL AND LEGAL FRAMEWORK  
1. Trinidad and Tobago's constitutional and legi slative framework h as remained largely 
unchanged during the period under review.  The Repub lic of Trinidad and Tobago is a parliamentary 
democracy governed by a bicameral Parliament, which comprises the Senate and the House of 
Representatives.  The Senate has 31 members who are appointed for a five-year term by the President.  The House of Representatives has 41 members who are also elected for a five-year term, through a popular vote.
1  The Tobago House of Assembly has 15 members elected for four-year terms and has 
limited autonomy with respect to Tobago.  
2. The Head of State is the President who is elected  for a five-year term by the Electoral College 
(Senate and House of Representatives).  All execu tive authority lies with the President, but is 
exercised by the Prime Minister and the Cabinet. 
3. English common law forms the basis of the legal system in Trinidad and Tobago.  Laws are 
enacted by Parliament.  Bills need to be passed by both the House of Representatives and the Senate 
and be assented to by the President before becomi ng law.  Once assented, bills are published as Acts 
of Parliament in the Trinidad and Tobago Gazette .  Legislative Acts are subject to judicial review in 
the Supreme Court of Judicature.  International trea ties and agreements have to be incorporated into 
domestic law before they become lega lly binding in Trinidad and Tobago. 
4. Trinidad and Tobago has an independent judiciar y headed by a Chief Justice.  The judicial 
system comprises a Supreme Court and District Courts (Magistracy).  The High Court and the Court 
of Appeals make up the Supreme Court.  The High Court and the Magistracy have jurisdiction in civil 
and criminal matters.  In addition, there is an In dustrial Court and Tax Appeals Board, which deal 
with industrial disputes and tax issues, respectively.   In 2005, Trinidad and Tobago passed legislation 
that would allow it to participate in the Caribbean Cour t of Justice (CCJ).  In its original jurisdiction, 
the CCJ interprets and applies the revised Treaty of Chaguaramas, and is an international court with 
compulsory and exclusive jurisdiction with respect to the interpretation of the Treaty.  For certain 
CARICOM states (Barbados, Belize, and Guyana), the CCJ is also the final appeals court.  However, 
for Trinidad and Tobago the final court of appeal remains the Judicial Committee of the Privy Council 
in London. 
(2) DEVELOPMENT AND ADMINISTRATION OF TRADE POLICY  
(i) Trade and investment policy objectives 
5. The objective of trade policy in Trinidad and Tobago is to "facilitate private sector trade 
expansion in high value goods and services that  capitalise on local expertise and knowledge".2  The 
Government seeks to use trade policy to "expand Trinidad and Tobago's business, investment and 
export led trade in the non-energy sector, to achieve  sustainable economic growth and development". 
The Government recently published the Medium -Term Policy Framework 2011-14 (MTPF 2011-14), 
which addresses these issues.  Under  the MTPF 20 11-14, government polic y and objectives relating 
to trade and investment are focused on developing a global niche by excelling in selected products, 
while forging strategic links with economic partners , so that exports can flourish in international 
                                                      
1 In 2005, the Election and Boundaries Commission approved a proposal to in crease the number of 
seats in the House of Representatives from 36 to 41. 
2 Ministry of Trade and Industry online information.  Viewed at:  http://www.tradeind.gov.tt/ 
Aboutus/VisionandMission.aspx. Trinidad and Tobago WT/TPR/S/260/Rev.1 
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markets. To achieve this, the Government is concentrating on innovation, entrepreneurship, and 
identifying strategic sectors that it considers have the potential to become internationally competitive.  
In this respect, the Government intends to ins titute a National Innovation Policy, a National Service 
Industries Strategy and an Industrial Policy.  Th e objective is to provide a framework in which 
innovative ideas can be developed a nd commercialised and to identify areas and industries for growth.  
The aim is to have products and services that differe ntiate themselves in the world market place on the 
basis of quality, value and innovation rather than on price alone. Furthermore, the authorities also 
believe that developing these niches is essen tial for diversification of the economy. 
6. The Government also intends to pursue the de velopment of an integrated national Export 
Strategy which will focus on, inter alia :  negotiating increased market access for exports; steps to 
improve Trinidad and Tobago's competitive advant age; and increasing national competitiveness.  
Therefore, in essence an integrated national export st rategy is a critical initiative in the thrust to 
diversify the economy. Complementing this strategy  will be a trade policy concentrating on Trinidad 
and Tobago's engagement in trade issues at the local , regional, and multilateral levels.  The Policy will 
also offer recommendations on how local busin esses can diversify to non-energy exports. The 
authorities believe that for trade to be one of th e significant elements of economic diversification it 
must be driven by the private sector.   
7. Despite efforts to diversify, the Government also recognizes that there is tremendous potential 
for growth within the energy sector by moving from the reliance on upstream and midstream activities 
to downstream activities. In this respect the Gove rnment has identified the promotion of energy 
services exports. 
8. With a view to becoming globally competitive, Trinidad and Tobago plans to pursue a more 
aggressive trade policy with Central America, Sout h America, and Asia so as to establish stronger 
commercial, economic, and political presence in these markets.  The Trade Directorate of the Ministry of Trade and Industry will be strengthened, and trai ning in trade negotiations will be intensified in 
order to improve the Directorate's capacity for negotiation. 
9. The objective of the Government's investment policy is to improve global competitiveness, to 
support diversification and to support transparency a nd predictability for investors.  The Government 
is committed to improving the current investment envi ronment so as to attract both local and foreign 
investors.  The intended Investment Policy 2012-16,  which will allow for legislative changes through 
a new Investment Promotion Act, would improve the institutional and regulatory framework for 
investment.  The new Act addresses issues of land ac quisition by foreign investors, and regulates the 
number of shares foreign investors may acquire in private and public companies;  it takes into 
consideration Trinidad and Tobago's commitments  under the Revised Treaty of Chaguaramas, and 
under the many bilateral investment treaties signed with foreign countries. 
10. According to the World Bank, the business environment in Trinidad and Tobago has 
improved over the past two years, from a ranking of 76
th out of 183 economies for 2011 to 68th for 
2012.3  However, nearly all of the improvement wa s registered in paying taxes, and reflected a 
reduction in the total tax rate on profits from 33% to 29%.  Under the MTPF 2011-14, the Economic 
Development Board (EDB) and the Council for Competitiveness and Innovation (CCI) are 
responsible for addressing the constraints that currently exist.  
                                                      
3 World Bank (2011). WT/TPR/S/260/Rev.1 Trade Policy Review 
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(ii) Trade policy formulation and implementation 
11. Trade and investment policy formulation and implementation is the responsibility of the 
Ministry of Trade and Industry (MTI), which aims  to "create the environment for business to compete 
globally through innovative policies and strategies deve loped in partnership with our stakeholders and 
delivered by professional staff."4 
12. The Ministry is responsible for negotiati ng and implementing Trinidad and Tobago's 
commitments under various trade, economic and invest ment agreements.  MTI is also responsible for 
fostering commercial relations with trading partne rs including trade marketing, as well as improving 
the competitiveness of Trinidad and Tobago's exports. 
13. Trade policy formulation in Trinidad and Tobago is a consultative process.  The Minister of 
Trade and Industry is advised by the Standing A dvisory Committee on Trade and Related Matters and 
by the Technical Coordinating Committee (TCC).  Most of the members of the Advisory Committee 
are from the private sector , while the TCC is headed by the Perm anent Secretary of the Ministry of 
Trade and Industry. 
14. Responsibility for devising and implementing trade negotiation strategies with respect 
to regional, bilateral, and multila teral trade agreements lies with the TCC.  The TCC comprises five 
sub-committees dealing with market access and trad e facilitation, services, investment, trade-related 
issues, and institutional issues.  These sub-comm ittees are responsible for developing negotiating 
positions and strategies in their respective areas. 
15. Investment policy formulation is the domain of the MTI's Investment Directorate, which 
collaborates closely with both public and private sect or stakeholders.  However, implementation of 
policy and incentives is the responsibility of the ministries responsible for sectors where the 
investment is being directed;  for example the Mi nistry of Energy and Energy Industries (MEEI) is 
responsible for implementing incentives and policy for the hydrocarbons sector, and the Ministry of 
Tourism for the tourism sector (Table AII.1). 
16. Tariffs and their application, taxation, and fi scal incentive issues are the responsibility of the 
Ministry of Finance.  The Customs and Excise Divisi on, which is a part of the Ministry of Finance, 
implements policy at the border, such as collection of tariffs.  The Ministry of Food Production, Land 
and Marine Affairs is responsible for agricultura l policy and for issuing sanitary and phytosanitary 
permits.  MEEI is responsible for administration,  regulation, and policy formulation including the 
granting of concessions, licences, and contracts in the hydrocarbons sector. 
(3) FOREIGN INVESTMENT REGIME  
17. Trinidad and Tobago encourages foreign direct investment (FDI) in all sectors and there are 
no restrictions or disincentives to investment.  At  the time of its previous Review, new investment 
legislation was being prepared, but this has still not  been finalized.  The Government did prepare a 
new Investment Policy in 2009, but this is still in dr aft form.  The authorities st ated that they expect 
the policy to be finalized in early 2012, after whic h it may be necessary to prepare legislative changes.  
The Government is targeting the following  industr ies for investment and development:  information 
and communications technology; creative industries; light manufacturing; clean technology; yachting; 
fishing and fish processing; merchant marine; musi c and entertainment; film; food and beverages; and 
printing and packaging.  With a view to dive rsifying the economy, the Government has also 
                                                      
4 Ministry of Trade and Industry online information.  Viewed at:  http://www.tradeind.gov.tt/ 
Aboutus/VisionandMission.aspx. Trinidad and Tobago WT/TPR/S/260/Rev.1 
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emphasized investment in steel, aluminium, ethyle ne, and polypropylene, which can be used as inputs 
for prospective downstream manufacturing.    
18. There has been no fundamental change to the foreign investment regime during the period 
under consideration.  The Foreign Investment Ac t of 1990 governs foreign investment.  Under the 
provisions of the Act, all investors from outsi de the CARICOM region are considered foreign 
investors.  Foreign investors are permitted to own 100% of share capital in a private company but they 
need a licence to own more than 30% of the share capital of a public company.  The Act also limits 
foreign ownership of land to one acre for reside ntial purposes and five acres for trade purposes.  
Waivers may be granted by the Government and, acco rding to the authorities, there are no restrictions 
on long-term leases (up to 99 years).  In 2007, th e Finance Minister issued an order requiring a 
foreign investors to obtain a licence before acquiring any land in Tobago.  
19. 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, a nd have local content.  There are no restrictions 
on repatriation of capital, profits, dividends, in terest, distributions or gains on investment. 
20. Disputes involving investment issues are handled by the High Court of Justice, which has 
jurisdiction over all matters involving sums in ex cess of TT$15,000.  The High Court may grant relief 
such as injunctions and public law remedies.  In  general, however, disputes are addressed following 
the procedures for settling investment disputes deta iled in Trinidad and Tobago's various bilateral 
investment treaties (BITs).  In this regard, parti es to a dispute may usually choose whether to submit 
to a domestic or an international dispute settlement  mechanism.  Trinidad a nd Tobago is a member of 
the International Centre for the Settlement of I nvestment Disputes (ICSID) and has ratified the New 
York Convention on the Recognition and Enfo rcement of Foreign Arbitral Awards.  The authorities 
stated that there had been no disputes during the review period. 
21. Trinidad and Tobago is a signatory to the IC SID Convention and the Multilateral Investment 
Guarantee Agency (MIGA). 
22. Trinidad and Tobago has entered into BITs with Canada, China, Cuba, France, Germany, 
India, Mexico, South Korea, Spain, Switzerland,  the United Kingdom, and the United States.  All 
these agreements have been ratified by Trinidad  and Tobago.  These BITs generally provide for 
national treatment, and contain dispute settlement procedures.  The BIT with the United States 
explicitly prohibits mandatory performance requirements as a condition for investment.   
(4) INTERNATIONAL RELATIONS  
(i) World Trade Organization 
23. Trinidad and Tobago has been a Member of the WTO since 1 March 1995.  Trinidad and 
Tobago grants at least MFN treatment to all its trading partners.  To be legally binding, WTO 
Agreements must be incorpor ated into domestic law.  
24. In the Uruguay Round, Trinidad and Tobago bound its entire tariff.  It also made specific 
commitments under the General Agreement on Trade in Services (GATS) in a number of subsectors.  In addition, Trinidad and Tobago participated and made concessions in the extended negotiations on 
basic telecommunications, but it did not make commi tments in the extended negotiations on financial WT/TPR/S/260/Rev.1 Trade Policy Review 
Page 16 
  
services.  Trinidad and Tobago tabled an offer in the negotiations on services within the framework of 
the Doha Development Agenda in June 2005.5 
25. During the review period, Trinidad and Tobago continued to fulfil its notification obligations 
under the various WTO Agreements.   
26. Trinidad and Tobago actively supports speci al and differential treatment (S&D) for 
developing countries.  In the context of the DDA, it  declared that it considers S&D integral to the 
negotiating process, and made a submission, on beha lf of the ACP Group, urging progress in the 
discussions on operationalization of S&D in the post-Doha era and on implementation issues.6  With 
respect to non-agricultural market access, Trinid ad and Tobago, together with ACP and CARICOM 
partners, has also called for, among other things , balanced results that  accommodate the issues 
affecting the more vulnerable Members of the WT O 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. 
27. With regard to services liberalization, Trinidad  and Tobago has mentioned the need to ensure 
that the negotiations on trade in services are condu cted in a manner that facilitates the increased 
participation of developing countries. 
28. Trinidad and Tobago has not filed any disput es with the DSB.  However it has been the 
respondent in two cases regarding the same issue:  anti-dumping duties on imports of pasta and some 
pasta products from Costa Rica.  In both cases the re quest for consultations was made more than 
10 years ago and they remain at the co nsultation phase of dispute settlement.7 
(ii) CARICOM and related agreements 
(a) CARICOM 
29. Trinidad and Tobago is one of the 15 me mber states of the Caribbean Community and 
Common Market (CARICOM).  CARICOM was cr eated by the Treaty of Chaguaramas in 1973.8  
The original Treaty of Chaguaramas was amended by nine protocols coveri ng various areas, including 
trade policy, services, consumer protection, comp etition policy, transport policy, and agricultural 
policy.  The protocols have been consolidated into  the Revised Treaty, which forms the legal basis for 
the establishment of the CARICOM Single Market and Economy (CSME). The Revised Treaty became effective in February 2002.  Informati on on the Revised Treaty was submitted to the WTO 
Committee on Regional Trade Agreements in July 2003.
9 
30. 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 eventually to provide for a 
                                                      
5 WTO document TN/S/O/TTO, 21 June 2005. 
6 WTO document TN/C/W/16, WT/GC/W/528, 5 April 2004. 
7 WTO DSB cases DS185 (consultations requested 18 November 1999), and DS187 (consultations 
requested 17 January 2000). 
8 CARICOM members are:  Antigua and Barbuda, Ba hamas, Barbados, 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. 
9 WTO document WT/REG155/1, 8 July 2003. Trinidad and Tobago WT/TPR/S/260/Rev.1 
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single economic and trade policy for all CARICOM states.10  The consolidation of the CSME required 
the adoption of national programmes for the removal of intra-CARICOM restrictions. 
31. The CSME is a regional trade and economic integr ation regime that has been adopted by 12 
of the 15 member states.  In 2005, Trinidad a nd Tobago enacted the Caribbean Community Act of 
2005.11  The Act covers, inter alia :  the principles governing CARICOM and its institutional 
arrangements;  establishment, services, capital, and movement of Community nationals;  policies for 
sectoral development and trade policy, including trade liberalizations, subsidies, dumping, and 
transport policy.  The Act also provided for the implementation of the CARICOM Single Market, which became operational in January 2006.  Unde r the principles of the single market, the free 
movement of people, capital, services, right of est ablishment, and goods is permitted between member 
states. The single economy, which provides for harmonization of economic, investment, fiscal, and monetary policies, is expected to be fully implemented by 2015. 
32. The Conference of Heads of Government is the highest decision-making body in CARICOM 
and has the final authority for concluding any treaties involving CARICOM.  The Community Council of Ministers has responsibility for strategic planning and coordination of matters of economic 
integration and external relations with third st ates.  Both the Conference and the Council are 
supported by organs dealing with specific areas or issues. The Caribbean Co mmunity Secretariat is 
CARICOM's main administrative organ. 
33. As part of CARICOM, Trinidad and Tobago applies the Common External Tariff (CET) 
(Chapter III(1)(iii)(f)).  Exceptions to the CET are permitted for the Organization of Eastern 
Caribbean States (OECS) members and for certain pr oducts of particular sensitivity to a CARICOM 
member.   
34. Dispute settlement procedures are addressed in the Treaty of Chaguaramas and the Revised 
Treaty.  CARICOM also established a Caribbean C ourt of Justice (CCJ) in 2005 (see section (1) 
above). CARICOM members also established the CARICOM Competition Commission (CCC) in January 2008.  The CCC provides a forum for CA RICOM members for the resolution of issues 
related to anti-competitive business practices.  The Caribbean Health and Food Safety Agency was 
launched in March 2010 in Suriname with the goal  of establishing an effective regional SPS regime. 
35. With a view to coordinating information and efforts in trade negotiations, including in the 
WTO, CARICOM works through the Caribbean Re gional Negotiating Machinery (CRNM). In 2009, 
the CRNM was incorporated into the CARICO M Secretariat as a Specialized Department. 
Subsequently, a decision was taken by the Heads of Government during the 30th Meeting of the 
CARICOM Conference of Heads of Government in 2009, to rename the CRNM as the Office of 
Trade Negotiations (OTN).
12  
36. The OTN works to develop a cohesive framewo rk 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.13 
                                                      
10 WTO document WT/REG92/R/B/1, G/L/359, 12 April 2000. 
11Caribbean Community Act of 2005.  Viewed at:  http://www.ttparliament.org/legislations/a2005-
03.pdf. 
12 Office of Trade Negotiations online information.  Viewed at:  http://www.crnm.org/index.php? 
option=com_content&view=artic le&id=45&Itemid=69&0872a8d70c6252b77261d45b4779477d=207f7b7ec587
f77a3cfeec56339f1f72. 
13 Office of Trade Negotiations online information.  Viewed at:  http://www.crnm.org/index.php? 
option=com_content&view=artic le&id=45&Itemid=69&0872a8d70c6252b77261d45b4779477d=207f7b7ec587
f77a3cfeec56339f1f72. WT/TPR/S/260/Rev.1 Trade Policy Review 
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(b) Bilateral agreements betwee n CARICOM and other countries 
37. As a member of CARICOM, Trinidad and Toba go has signed bilateral agreements with the 
Bolivarian Republic of Venezuela, Colombia, th e Dominican Republic, Costa Rica, and Cuba.   
CARICOM-Venezuela 
38. The CARICOM-Venezuela Trade and Investment Agreement is a one-way preferential 
agreement whereby most CARICOM exports to th e Bolivarian Republic of Venezuela are granted 
preferential or duty-free access.  The agreement also seek s 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 jelli es, medicines, wooden furniture, horticultural 
products, spices, processed foods, an d toilet preparations), while 67% of products benefit from tariff 
reductions.  As a result, the Bolivarian Republic of Venezuela's average applied tariff on CARICOM 
imports is about one third lower than its MFN tariff.   The signatories are allowed to apply measures to 
counter dumping and subsidies.  Disputes may be  resolved through the Joint Council, but its 
recommendations are not binding.  
CARICOM-Colombia 
39. The CARICOM-Colombia Agreement on Trad e, Economic and Technical Cooperation 
provides for trade liberalization and facilitation (incl uding the exchange of preferences), as well as 
promotion and protection of investment.  The agreem ent is reciprocal with regard to Trinidad and 
Tobago.  The Authorities indicated that this agreemen t has not been enacted into domestic legislation, 
as a result, the MFN rate of duty is applie d to goods originating from Colombia.  
40. The agreement phased in tariff reductions on a list  of selected products.  Its Annex II contains 
a list of products on which tari ffs were eliminated 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 Cooperation and contains its own disp ute settlement provisions;  disputes regarding 
subsidies and anti-dumping are to be taken to the WTO. 
CARICOM-Dominican Republic 
41. The CARICOM-Dominican Republic Free Trade Ag reement allows for the mutual granting 
of tariff concessions by Trinidad and Tobago and other CARICOM more developed countries 
(MDCs) and the Dominican Republic.  With respect to 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 the MF N rate of duty on goods in Appendix II14;  and the 
application of the MFN rate of duty to goods in  Appendix III.  The phased MFN-rate reduction for 
                                                      
14 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);  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). The above are based on HS02 nomenclature. Trinidad and Tobago WT/TPR/S/260/Rev.1 
 Page 19 
 
 
goods in Appendix II has been implemented.  In a ddition to trade in goods, the agreement has a built 
in agenda to further develop the areas of servi ces, investment, and government procurement.  
CARICOM-Cuba 
42. A Trade and Economic Agreement between CARICO M and Cuba, entered into force in 2006.  
The agreement provides for duty-free treatment on speci fied goods.  Certain agricultural products are 
dealt with on a seasonal and specific ba sis.  Furthermore, tariffs on a specialized list of products are to 
be eliminated through four annual reductions.  In addition, the agre ement deals with taxation, trade 
promotion and facilitation, services, tourism, investme nt, intellectual property rights, and other topics.  
During the period under review Trinidad and Tobago  opened trade promotion offices in Havana and 
Santiago. 
CARICOM-Costa Rica 
43. The CARICOM-Costa Rica Free Trade Agreement was given assent by Trinidad and Tobago 
in 2005.  The agreement is reciprocal with respect  to Trinidad and Tobago.  The agreement provides 
for free trade or preferential access for a wide range of products, excluding sensitive products.  Tariffs 
on 95% of products have been phased out.  The lim ited number of products that will continue to 
attract duty include, for CARICOM, a range of agri cultural products (meat, dairy products, fruit, and 
vegetables), and a few manufactured goods, such as furniture, some paints, bottles, and candles.  A 
list of agricultural products is subject to seasonal MFN duties but duty free for the rest of the year.  
Trinidad and Tobago's list comprises tomatoes, ca bbages, sweet potatoes, cucumber, lettuce, and 
some fruit.  CARICOM products covered by the Oils  and Fats Agreement are exempt from the scope 
of the FTA. 
44. Apart from trade in goods, the FTA contains anti-dumping and sanitary and phytosanitary 
provisions, and provides for dispute settlement.  It provides for a review of developments in relation to trade in services, investment, competition policy, and government procurement within two years of its entry into force.  
CARIFORUM-EU Economic Partnership Agreement 
45.  A comprehensive Economic Partnership Agreement (EPA) between the EU and 
15 Caribbean states in the CARIFORUM group, including Trinidad and Tobago, was signed in 2008. This replaced the expired preferences under the Africa, Caribbean, and Pacific (ACP)-EU Cotonou 
Agreement.  In the EPA the EU committed to immediately removing all tariffs and quotas on 
CARIFORUM exports with the exception of sugar a nd rice, which gained full duty and quota-free 
access at the end of 2009.  For their part, CARIFO RUM States committed to more gradual reductions 
in their tariffs over a period of up to 25 years.  Certain sensitive products are excluded.  The 
agreement also covers trade in services, public  procurement, intellectual property rights and 
environmental protection. 
(iii) Non-reciprocal arrangements 
(a) Caribbean Basin Initiative 
46. Trinidad and Tobago enjoys preferential access to  the U.S. market under the Caribbean Basin 
Initiative (CBI), launched by the United States in  1984 as part of the Caribbean Basin Economic 
Recovery Act (CBERA).  The Act provides duty -free access for products from the Caribbean and 
Central America.  In 2009, the United States requ ested, and was granted, an extension of the WTO WT/TPR/S/260/Rev.1 Trade Policy Review 
Page 20 
  
waiver for CBERA (as amended) up to end-December 2014.15  The CBERA was substantially 
expanded in 2000 through the U.S.-Caribbean Basin Trade Partnership Act (CBTPA), which entered 
into force on 1 October 2000, and will re main in effect until 30 September 2020. 
(b) CARIBCAN 
47. Trinidad and Tobago enjoys preferential access to the Canadian market through CARIBCAN 
(a one-way preferential agreement), a programme for trade, investment, and industrial cooperation 
between Canada and the Commonwealth Caribbean countries, which extends duty-free treatment to 
nearly all qualifying imports.  CARIBCAN is set to expire on 31 December 2011, and CARICOM is negotiating a reciprocal trade and development agreemen t with Canada to take its place.  To date there 
have been three negotiating r ounds, covering goods, services, investment, dispute settlement, 
competition policy, government procurement and in tellectual property issues. As negotiations were 
not expected to be completed by the end of 2011, Ca nada requested an extension to the waiver of its 
obligations under paragraph 1 of Ar ticle I of the GATT, allowing it to extend duty-free treatment to 
imports from Commonwealth Caribbean countries, until 31 December 2013.  The General Council 
approved the request in November 2011.
16  
(c) Generalized System of Preferences 
48. Trinidad and Tobago's products are eligible fo r the GSP schemes of Australia, Canada, the 
European Union, Japan, New Zealand, Russia, and Switzerland. 
(d) Global System of Trade Preferences  
49. Trinidad and Tobago is one of the 43 countries th at have ratified the Global System of Trade 
Preferences (GSTP).  A third round of trade nego tiations was launched in São Paulo in June 2004 
envisaging a "package of substantial trade lib eralization commitments" to promote economic 
complementarities among participating countries. Under the GSTP, Trinidad and Tobago grants tariff 
preferences for corn flour, newsprint, other prin ting paper in bulk, glassware except tumblers, and 
aluminium casks. 
                                                      
15 WTO document WT/L/753, 29 May 2009.  United States-Caribbean Basin Economic Recovery Act, 
Renewal of Waiver, Decision of 27 May 2009.  The wa iver permits the United States to provide duty-free 
treatment for eligible products of the Caribbean Basin coun tries without having to extend the same treatment to 
like products of any other WTO Member. 
16 WTO document G/C/W/657, 27 October 2011.