The Caribbean Community (CARICOM) and Cuba have enjoyed a long-standing relationship that has been deepened through trade and economic cooperation over the years. This relationship has been formalized through various agreements, with the most recent being the CARICOM-Cuba Agreement.
The CARICOM-Cuba Agreement was signed on December 8, 2018, and seeks to strengthen bilateral trade, investment, and cultural relations between CARICOM Member States and Cuba. The agreement was hailed as a significant milestone in the region`s economic development by CARICOM Secretary-General, Irwin LaRocque, and Cuba`s Minister of Foreign Affairs, Bruno Rodriguez Parrilla.
One of the primary objectives of the agreement is to promote the development of a sustainable and diversified economy in the Caribbean region. The CARICOM-Cuba Agreement recognizes the importance of cooperation in areas such as agriculture, renewable energy, tourism, and culture to achieve this objective.
Among the key provisions of the agreement is the establishment of a Joint Council, which will oversee the implementation of the CARICOM-Cuba Agreement. The Joint Council will comprise representatives from CARICOM Member States and Cuba and will be responsible for examining the progress of the agreement, identifying areas for cooperation, and making recommendations for further action.
The agreement also includes a framework for the exchange of goods, services, and investments between CARICOM Member States and Cuba. This framework seeks to promote the flow of goods and services between the two regions by reducing barriers to trade and investment.
Another essential aspect of the agreement is the recognition of Cuba as an important partner in the region`s development. The CARICOM-Cuba Agreement acknowledges the significant contribution that Cuba has made to the region in areas such as healthcare and education.
In conclusion, the CARICOM-Cuba Agreement represents a significant step forward in strengthening economic cooperation and promoting sustainable development in the Caribbean region. The agreement recognizes the importance of cooperation in various areas and seeks to promote the exchange of goods, services, and investments between CARICOM Member States and Cuba. The establishment of the Joint Council and the recognition of Cuba as a valuable partner reinforces the region`s commitment to building strong and lasting relationships with its neighbors.