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Bilateral trade between US, CARICOM grows

Published:Tuesday | April 3, 2012 | 12:00 AM

Bilateral trade between the 15-member Caribbean Community (CARICOM) grouping and the United States increased by 39 per cent over the past three years totalling US$21.8 billion, according to figures released Monday.

The figures were released to coincide with last weekend's meeting of the Trade and Investment Council (TIC) in Guyana.

The United States has agreed to host the next TIC meeting in 2013.

According to a joint statement issued after the meeting, participants reviewed the "strong and important trading and economic relationship" between the two parties. It noted that over the "last three years, bilateral trade between us has grown from $15.7 billion to $21.8 billion, an increase of 39 per cent".

It gave no indication what constitutes the trade between CARICOM and the United States, but noted that the benefits of expanding trade have flowed to businesses, farmers, workers, and consumers.