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Monday, June 25, 2007
Caricom leaders have reported that they were able to secure an extension on the US implemented Caribbean Basin Initiative (CBI), which was due to come to an end in September 2008. The CBI was launched in 1994 and offers a package of trade benefits to a number of Caribbean and Central American countries to export textile and other manufactured products to the United States, without being subject to US import tariffs. Trinidad and Tobagos Prime Minister Patrick Manning welcomed the move by the United States, but stated that there were still elements surrounding the initiative which needed to be negotiated and fine tuned. The Caricom leaders also called or more frequent meetings with the US leader, noting that it had been ten years since they had had such a meeting with a US President.
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