The Caribbean Free Trade Area was developed by the Caribbean Free Trade Association (CARIFTA). The Caribbean Free Trade Association was established in December 1965 by Antigua and Barbuda, Barbados, and Guyana to gradually eliminate the restrictions on the amount of tariffs and imports between them and to promote the free flow of labor. Since 1965, Member States have increased to 15 countries.
In August 2014, Antigua and Barbuda initiated the organization of the Caribbean Free Trade Area, which sought to attract foreign direct investment through the establishment of a professional free trade zone in the CARICOM member states to form a world-class economic zone covering the Caribbean The Caribbean Free Trade Zone Investment Co., Ltd. is recommended by the Caribbean Community, approved by the Antigua and Barbuda Free Trade and Processing Zone Management Committee, with the participation of a number of CARICOM organizations, investment in international industrial park investment enterprises, focusing on the Caribbean Free Trade Area Investment in the enterprise. Caribbean Free Trade Zone Investment Co., Ltd. aims to invest in 15 countries with 15 countries with corresponding national characteristics, with a total investment of 15 billion US dollars and a total development area of 30 square kilometers.
2015 Caribbean Free Trade Zone Joint Shanghai Free Trade Area, Dubai Free Trade Zone formally established the World Free Trade Area Federation.
October 1, 2015, the Caribbean Free Trade Zone is ready to launch the World Federation of Free Trade Zones for nonprofit organizations.
The Caribbean Free Trade Area was founded in 1965 by the Caribbean Free Trade Association, established by Antigua and Barbuda, Barbados and Guyana, to gradually eliminate the restrictions on the amount of tariffs and imports between them and to promote free movement of labor The Between 1965 and 1971, Member States continued to increase to 11 countries.
On 1 August 1973, the Caribbean Community (CARICOM) was established and replaced by the Caribbean Free Trade Association (CARIFTA). The goal of the newly established Caribbean Community is to provide economic cooperation through the Common Market of the Caribbean and to provide cooperation in the areas of health, education, culture, communications and industry.
In August 2014, Antigua and Barbuda launched the Caribbean Free Trade Zone Investment Co., Ltd. to attract foreign direct investment through the establishment of a professional free trade zone in the CARICOM member states to form a world covering the Caribbean First – class special economic zones.
Caribbean Free Trade Zone Antigua Park is located in Antigua’s economic center – the capital of St. John’s southeast, north of the Caribbean, the geographical location and the natural environment is extremely advantageous. Antigua Park consists of a number of commercial parks in the form of satellite fabs, including financial, entertainment, logistics and medical services and other parks. Leading industry for the cultural and entertainment, pillar industries for financial services, corporate headquarters, supporting industries as infrastructure, etc., to form an endogenous growth of the industrial ecosphere.
Caribbean Free Trade Zone (Antigua) park business license holders in the permit valid period:
The right to establish and participate in the industrial or commercial activity specified in the permit without obtaining any permit or other permit;
Any industrial / commercial activities undertaken in the Free Trade and Processing Zone are exempt from taxes and government fees;
The exclusion of taxes and other expenses on the items required for the construction and operation of imported machinery, equipment, spare parts, building materials and free trade and processing zones;
Exempt from import taxes on raw materials and other items processed in the free trade or processing area or used to enhance free trade and processing services;
Employees in the Free Trade and Processing Zone are only required to pay social insurance, medical insurance and education funds without payment of personal income tax and other expenses;
Exempt from free processing and trade area of certified enterprises to produce processed goods exported to Antigua and Barbuda outside the export taxes and other expenses;
Exempt from any profits returned in the free trade and processing area.
In addition, Antigua enjoys many trade agreements, including the Caribbean Community Agreement, the Caribbean League, the Caribbean Basin Initiative, the Cotonou Agreement, the Free Trade Area of the Americas and the World Trade Organization