Caribbean Basin Trade Partnership Act

Caribbean Basin Trade Partnership Act
Long title	Caribbean Basin Trade Partnership Act
Acronyms (colloquial)	CBTPA
Nicknames	Trade and Development Act of 2000
Enacted by	the 106th United States Congress
Effective	May 18, 2000
Citations
Public law	106-200
Statutes at Large	114 Stat. 251
Codification
Titles amended	19 U.S.C.: Customs Duties
U.S.C. sections created	19 U.S.C. ch. 23 § 3701 et seq.
Legislative history
	Introduced in the House as H.R. 434 by Phil Crane (R–IL) on February 2, 1999; Committee consideration by House International Relations, House Ways and Means, House Banking and Financial Services; Passed the House on July 16, 1999 (234-163, Roll call vote 307, via Clerk.House.gov); Passed the Senate on November 3, 1999 (76-19, Roll call vote 353, via Senate.gov); Reported by the joint conference committee on May 4, 2000; agreed to by the House on May 4, 2000 (309-110, Roll call vote 145, via Clerk.House.gov) and by the Senate on May 11, 2000 (77-19, Roll call vote 98, via Senate.gov); Signed into law by President Bill Clinton on May 18, 2000;

The Caribbean Basin Trade Partnership Act (CBTPA) is a

Africa Growth and Opportunity Act

of 2000 (AGOA), was intended to advance U.S. economic and security interests by strengthening American relationships with other regions of the world then viewed to be making significant strides in terms of economic development and political reform.

The 23 independent countries of the

Caribbean basin region together form the sixth largest export market for U.S. goods, totaling $19 billion and absorbing 2.7 percent of U.S. exports in 1999. However, the devastation of hurricanes Mitch and Georges in 1998 set the regional economy back. In addition, the U.S.'s signing of the NAFTA

with Mexico in 1994 had caused Caribbean basin countries to lose the preferential treatment they had previously enjoyed.

The CBTPA, an expansion of the 1983

apparel products assembled from U.S. fabric that were previously excluded from the program. American policy makers hoped that this would encourage additional U.S. exports of cotton and yarn

and U.S. investment in the region, thereby improving the global competitive position of the U.S. textile industry.

The CBTPA was also intended to encourage the diversification of CBI countries’ economies, viewed by American policymakers as a key step towards economic development that would decrease the region's dependence on aid and reduce illegal immigration into the United States as well as the trafficking of illegal drugs. American lawmakers also hoped that CBTPA would send a signal to the other countries of the Caribbean basin and elsewhere of American commitment to promoting trade-expanding policies.

References

^ Clinton, William J. (May 18, 2000). "Remarks on Signing the Trade and Development Act of 2000 - May 18, 2000". Internet Archive. Washington, D.C.: National Archives and Records Service. pp. 963–965.

Sources

This page adapted from the Caribbean Basin Initiative page, maintained of the United States Department of Commerce.

External links

"CARICOM trade gets five year WTO Waiver for US market". Barbados Advocate newspaper. 14 April 2009. Archived from the original on 2012-02-15.
H.R. 984 - Caribbean and Central America Relief and Economic Stabilization Act at Congress.gov
Clinton, William J. (April 14, 2000). "Statement on Congressional Action on Africa and Caribbean Basin Trade Legislation - April 14, 2000". Internet Archive. Washington, D.C.: National Archives and Records Service. pp. 715–716.
Clinton, William J. (May 4, 2000). "Statement on Africa and Caribbean Basin Trade Legislation - May 4, 2000". Internet Archive. Washington, D.C.: National Archives and Records Service. p. 850.
Clinton, William J. (May 11, 2000). "Statement on Congressional Action on Africa and Caribbean Basin Trade Legislation - May 11, 2000". Internet Archive. Washington, D.C.: National Archives and Records Service. p. 904.

[1] Clinton, William J. (May 18, 2000). "Remarks on Signing the Trade and Development Act of 2000 - May 18, 2000". Internet Archive. Washington, D.C.: National Archives and Records Service. pp. 963–965.