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English Speaking Caribbean Countries In World Economy And Trade: Relative Impacts Of The World Trade Organization

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...other than unilateral trade agreements. Even in the existence of such agreements, in fact, the English speaking Caribbean countries restrict their trade primarily to interaction with the U.S. and the European Union. With the expiration of the Lome Convention treaty in February 2000, a treaty which previously awarded these nations special treatment in regard to trade relations, the small countries have been thrown onto the world trade front. What this means is that they must be able to compete more effectively against countries like Brazil, Venezuela, and Columbia in capturing the U.S. market. Many contend that these smaller countries are largely incapable of wielding effective competition without outside aid. Outside aid, however, is a possibility under the rules of the World Trade Organization only when a country is declared developmentally deficient. According to the United Nations the Caribbean Islands, when these Caribbean nations are evaluated in accordance with the three key indicators of health, education, and income, only Haiti comes out with a low...

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