In keeping with its commitment to make regional trade easier, the Caribbean Development Bank (CDB) recently approved a grant of US$43,665 for the Caribbean Community (CARICOM).
The CDB in a statement disclosed that the grant funding is to be used to finance completion of the CARICOM Interactive Marketplace and Suspension Procedure Portal (CIMSuPro) as well as support training and technical support for trade officials and traders.
The portal’s development makes it easier for CARICOM states to administer the common external tariff (CET), the system underpinning regional trade, which all CARICOM states are required to maintain. The CET is a uniform set of tariffs imposed by CARICOM members on goods from third countries.
