CARICOM-Colombia Trade, Economic and Technical Cooperation Agreement
The Agreement on Trade, Economic and Technical Cooperation between CARICOM and Colombia was signed in July 1994 and ratified in June 2006. This Agreement began as a non-reciprocal agreement providing for the one way preferential access of certain products from CARICOM to the Colombian market. The Parties, however, agreed for a level of reciprocity to ensue on a select list of goods four (4) years after entry into force of the non-reciprocal agreement. A protocol amending the Agreement to allow for this reciprocity was signed in May 1998.
The Protocol to the Agreement outlines a list of items subject to duty free trade as well as a list of items eligible for phased reduction of duty between the CARICOM MDCs of Barbados, Guyana, Jamaica and Trinidad and Tobago and Colombia. The Lesser Developed Members of CARICOM are not required to grant preferential access to Colombia. It should be noted that the phasing process for goods under this list has been completed.