The New Trade Environment and Trade Performance in the Caribbean
Caribbean countries face a rapidly changing trade environment, which presents both opportunities and challenges for economies highly dependent on external markets. The features of the new trade environment include: i) redefinition of relations with...
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| Language: | English en_US |
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Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/06/19799980/new-trade-environment-trade-performance-caribbean http://hdl.handle.net/10986/20014 |
| Summary: | Caribbean countries face a rapidly
changing trade environment, which presents both
opportunities and challenges for economies highly dependent
on external markets. The features of the new trade
environment include: i) redefinition of relations with their
main trading partners, including the United States, where
Caribbean exports continue to enjoy preferential access
under the Caribbean Basin Initiative, and the European
Union, through the recently signed Economic Partnership
Agreement; ii) the increasing economic influence of the new
growth poles1 (Brazil, Russia, India, Indonesia, China and
Korea) ; iii) and the redesign of the CARICOM regional trade
agreement in order to implement the Caribbean Single Market
Economy (CSME) as well as a number of preferential trade
agreements within the region. These changes are likely to
change the trading structure of the Caribbean countries and,
through this restructuring, to have implications for the
welfare of these economies. Understanding these implications
is critical in terms of designing appropriate policy
response to the trade changes but also in terms of
eventually re-shaping trade agreements and policies. |
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