This trade and investment agreement seeks to promote economic cooperation by granting duty free treatment to a selected list of goods originating in CARICOM provided they comply with the Rules of Origin.
Rules of Origin
- Goods must be wholly grown in a CARICOM country or manufactured from materials which originate in CARICOM or Venezuela; or
- Goods manufactured using materials from third countries provided that they result from a process of substantial transformation, which result in a different product characterized by being classified in a four-digit heading of the Harmonised System (HS), which is different from the raw materials.
- Goods that are the result of assembly operations which constitute a process of transformation carried out in CARICOM member countries, in which the value of the materials from third countries does not exceed 50% of the f.o.b. export value of the products.
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