Trade negotiations between CARICOM states (including Jamaica) and Canada have been suspended.
The two sides had been negotiating in pursuit of a free trade agreement for sometime, but had failed to arrive at a conclusion.
Major Richard Reese, Commissioner of Customs, explained at a news conference last week that, despite the suspension of those talks, "we continue to trade non-reciprocally with Canada, under CARIBCAN."
CARIBCAN - the Caribbean-Canada Trade Agreement - is a non-reciprocal trade agreement established by the Canadian Government in 1986. It offers trade, investment and industrial cooperation between Canada and Caricom countries.
The now suspended negotiations were aimed at arriving at a new reciprocal trade agreement.
Major Reece added that negotiations are ongoing to clarify areas of the free trade agreement between CARICOM and the Dominican Republic as well as similar arrangements with Cuba and Costa Rica.
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