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Trade facilitation in the Caribbean: the case of customs performance


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STORY HIGHLIGHTS
  • Trade is vital to English-speaking Caribbean economies.
  • Customs procedures critical to promoting economic competitiveness.
  • Caribbean Customs are underperforming in terms of transparency.

With highly open economies, trade accounts for over 100% of GDP in several English-speaking Caribbean countries. Given such a dependence on exports and imports, it is essential that the channels connecting the region to the rest of the world function correctly.

However, despite the Caribbean’s integration into the global economy, Customs performance is comparatively low. Furthermore, the impact of custom systems on economies in the Caribbean also affects the countries’ capacity to attract investors, increase capacity and boost exports.

Analysing the role trade plays within the English-speaking Caribbean, this report shows how the above factors are critical and in order to increase competitiveness and growth, Customs systems in the region need to be improved.



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Analysing the role trade plays within the English-speaking Caribbean, this report sets out the argument that Customs performance is critical to boosting the region's competitiveness.