Antigua-Barbuda and Barbados lose trade preferences
Wednesday, March 3, 2004
WASHINGTON, USA (AFP): The White House announced late Monday that Antigua & Barbuda and Barbados will lose their designations as beneficiary developing countries for purposes of the generalized system of trade preferences.
The designation allows products of designated developing countries to pay lower custom duties when they enter the markets of developed countries, with no obligation of reciprocity.
Antigua & Barbuda and Barbados have been re-designated "high income" countries and will lose the trade preferences on January 1, 2006.
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