|Caribbean Basin Initiative
The trade programs known collectively as the Caribbean Basin
Initiative (CBI) remain a vital element in the United States’ economic relations with its neighbors in
Central America and the Caribbean. The CBI is intended to facilitate the economic development and export
diversification of the Caribbean Basin economies. Initially launched in 1983 through the Caribbean
Basin Economic Recovery Act (CBERA), and substantially expanded in 2000 through the
U.S.-Caribbean Basin Trade Partnership Act (CBTPA), the CBI currently provides 19 beneficiary countries
with duty-free access to the U.S. market for most goods.
CBTPA entered into force on October 1, 2000 and continues in effect until
September 30, 2010 or the date, if sooner, on which the FTAA or another free
trade agreement as described in legislation enters into force between the United
States and a CBTPA beneficiary country.
There are currently nineteen countries that benefit from the CBI program
and, therefore, may potentially benefit from CBTPA. These countries are: Antigua and Barbuda, Aruba, Bahamas, Barbados, Belize, British Virgin
Islands, Costa Rica, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Netherlands Antilles,Panama, St. Kitts and Nevis, St. Lucia, St. Vincent and the
Grenadines, Trinidad and Tobago.