Caribbean Basin Initiative (CBI)

(U.S.) A program providing for the duty-free entry into the United States of merchandise from designated beneficiary countries or territories in the Caribbean Basin.
This program was enacted by the United States as the Caribbean Basin Economic Recovery Act and became effective January 1, 1984.
The purpose of the program is to increase economic aid and trade preferences for twenty-eight states of the Caribbean region. The Caribbean Basin Economic Recovery Act provided for twelve years of duty-free treatment of most goods produced in the Caribbean region. The Initiative was extended permanently (CBI II), by the Customs and Trade Act of August 1990. The 23 countries include Antigua and Barbuda, the Bahamas, Barbados, Belize, the British Virgin Islands, Costa Rica, Dominica, the Dominican Republic, El Salvador, Grenada, Guatemala, Guyana, Honduras, Jamaica, Montserrat, the Netherlands Antilles, Nicaragua, Panama, St. Christopher-Nevis, St. Lucia, St. Vincent and the Grenadines, Trinidad and Tobago. The following countries may be eligible for CBI benefits but have not formally requested designation: Anguilla, Cayman Islands, Suriname, and the Turks and Caicos Islands. Web: www.ustr.gov/trade-topics/trade-development/preference-programs/caribbean-basin-initiative-cbi.

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