What Are The Main Economic Trade Agreements For The South American Countries
CARICOM has made progress in removing restrictions on the provision of services and the movement of capital and skilled labour. In the area of functional cooperation, Member States have cooperated in the fight against HIV/AIDS and in natural disaster management plans. (56) In mid-April 2005, CARICOM members established the Caribbean Court of Justice, based in Port-of-Spain, Trinidad and Tobago, which will be the last Court of Appeal in the region, to replace the London-based Privy Council. The Court will play an important role in the economic integration of the region by ruling on trade disputes at the upcoming CARICOM CSME. Barbados, Jamaica and Trinidad are leading the way in the implementation of the CSME, and other Caribbean States are expected to comply by the end of 2005. (57) In this interactive article, the Americas Society and Council of the Americas recreates the evolution of Mercosur`s trade dynamics. At the FTAA Ministerial Meeting in Miami in November 2003, the participating countries reached a compromise on the scope and ambitions of an FTAA. As worked out by the United States and Brazil, the compromise would create a two-tier structure of the FTAA by 1 January 2005. The first step would be a common set of rights and obligations of the nine negotiating groups for the 34 FTAA countries. The second stage would consist of a series of plurilateral agreements in which countries would voluntarily commit to achieving deeper disciplines and further liberalization in the nine groups. Although no area of negotiation is excluded from the agreement because countries could assume different commitments within the FTAA structure, it was a very different concept from the general principle of the “one society” initially envisaged. The CDFTA-DR is a regional agreement with all parties that is subject to the “same obligations and obligations”, but each country defines its own market access plan. The agreement replaces the preferential trade treatment granted to these countries under the Caribbean Basin Economic Recovery Act (CBERA), the Caribbean Basin Trade Partnership Act (CBTPA) and the Generalized System of Preferences (GSP).
It liberalizes trade in goods, services, government procurement, intellectual property and investment, and addresses labour and environmental issues. Most commercial and agricultural products immediately benefit from duty-free status. .