Describes trade agreements this country is a party to. Includes resources where U.S. companies can get information on how to take advantage of these agreements.
The Bahamas opened an office in Geneva in June 2015 to facilitate its membership in the World Trade Organization (WTO). Although some notable work has been done to modernize its trade regime, accession to the WTO is unlikely take place before 2030.
The country is a beneficiary of the Caribbean Basin Economic Recovery Act (CBERA) as part of the Caribbean Basin Initiative (CBI) to promote Caribbean-manufactured products. The Bahamas also maintains a Tax Information Exchange Agreement (TIEA) with the United States, which allows U.S. taxpayers to deduct legitimate business expenses incurred while doing business in The Bahamas.
The country receives preferential access under Canada’s CARIBCAN Program and remains a signatory to the Economic Partnership Agreement between Europe and the member states of the Caribbean Forum (CARIFORUM). The Bahamas is also party the Economic Partnership Agreement (EPA) between the United Kingdom and the countries of the Caribbean Forum (CARIFORUM).
The Bahamas is an active member of the Caribbean Community (CARICOM) but is not a member of the grouping’s Single Market & Economy (its economic and customs union).