The Caribbean-Canada Trade Agreement known as ("CARIBCAN") is a Canadian government programme, established in 1986 by the Parliament of Canada. The agreement was created to promote trade, investment and provide industrial cooperation through the preferential access of duty-free goods from the countries of the Commonwealth-Caribbean to the Canadian market.
Features of the agreement also include: seminars for businesspersons of the Caribbean region to learn more about developing a market for their products in the Canadian market, a programme to expand exports capabilities by Caribbean businesses and also the assistance of the Canadian Department of Industry and Technology in the Caribbean region for regional trade commissioners with the aim of trade promotion efforts to the Canadian market.
According to the DFAIT: the "CARIBCAN’s basic objectives, then, are to enhance the Commonwealth Caribbean’s existing trade and export earnings; improve the trade and economic development prospects of the region; promote new investment opportunities; and encourage enhanced economic integration and cooperation within the region."
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The CARIBCAN agreement does not cover duty-free access for the following items:
Other items are eligible for duty-free status if they can be certified as being either grown, manufactured or produced within the Commonwealth-Caribbean or Canada. The definition to be designated as Caribbean as its origin is; 'having a minimum input of 60 percent of the ex-factory price of the goods (including overhead and reasonable profits) originating within any of the Commonwealth Caribbean countries(or Canada). The goods must also be exported directly from the Caribbean to Canada with no other work carried out at foreign transshipment points.
This agreement after running its course for around twenty years, has been slated to be replaced by a full composit Caribbean-Canada Free Trade Agreement, with reciprocal equal access for Canadian companies to the Caribbean market as well.
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