(CARICOM)- The trade in goods regime under the CARICOM Single Market and Economy (CSME) stands to benefit from a project financed by the Japan-CARICOM Friendship Cooperation Fund (JCFCF) to review and update the list of items ineligible for duty exemption.
Once updated, the list is expected to provide improved, current information on regional production to support policy decision‑making by the Council for Trade and Economic Development (COTED), offer clearer insight into production opportunities for investors, and assist governments in fulfilling legal obligations to source regionally produced goods before granting duty exemptions.
The project, titled “Consultancy to Conduct a Review of Commodities Ineligible for Conditional Duty Exemption,” will also assist manufacturers and entrepreneurs seeking information on the availability of regional inputs.
Under the Rules Governing the Application of the List of Conditional Duty Exemptions, Member States may grant duty exemptions on specified goods imported from outside the Community for approved purposes or beneficiaries, including individuals, organisations or institutions. Goods placed on the List of Ineligibles are excluded from such exemptions.
The approval of this project represents continued support by the Government of Japan for CARICOM’s regional integration.
Over the past twenty‑five years, the Japan-CARICOM Friendship Cooperation Fund has financed and provided technical assistance for more than thirty‑five projects in priority areas including agriculture, education, energy, health, tourism, industrial development, and human resource development.
