This is a Partial Scope Agreement, which was signed on 24 July 1994 and entered into force on 1 June 1995. The Agreement provides for the More Developed Countries (MDCs) of CARICOM, such as Barbados, Guyana, Jamaica and Trinidad and Tobago, to introduce a programme to eliminate or reduce tariffs on an agreed list of products of export interest to Colombia, commencing at the beginning of the fourth year (1999) after the entry into force of the Agreement. CARICOM Less Developed Countries, such as the OECS and Belize, are not required to grant tariff concessions (reduce duties) on imports from Colombia. This Agreement has not been very active and is also focused on the trade in goods, while providing a framework for future collaboration among contracting parties in the areas of services and investment.

 

Goods coverage: This Agreement contains several lists. Products eligible for immediate duty concession are contained in Annex I, while Annex II outlines those products subject to phased reduction of duties. The Agreement further lists, in Annex III, products for which duty concessions could be negotiated in the future.

 

Rules of Origin/Cumulation: The CARICOM-Colombia Agreement maintains the general requirement for a change of customs classification heading, where this involves a process of substantial transformation of a product, in order for goods to be deemed originating in a CARICOM Member State. This is outlined in Annex IV of the Agreement. Cumulation is also allowed, where inputs are sourced from Parties to the Agreement, in order to encourage production linkages among the Parties. Changes to the origin rules are also foreseeable, under this Agreement, in light of technological changes or changes to the production structure of the Parties that may occur over time.