Saint Vincent and the Grenadines
1. Openness To, and Restrictions Upon, Foreign Investment
2. Bilateral Investment Agreements and Taxation Treaties
St. Vincent and the Grenadines has not signed a bilateral investment treaty with the United States. The country, however, has bilateral tax treaties with the United States, Canada, the UK, Denmark, Norway, Sweden, and Switzerland. In 1989, Germany and St. Vincent and the Grenadines signed a treaty for the Encouragement and Reciprocal Protection of Investment. In 2018, St. Vincent and the Grenadines and the UAE concluded an Agreement on the Avoidance of Double Taxation on Income and an Agreement for the Promotion and Protection of Investments. St. Vincent and the Grenadines is also party to the following economic communities and organizations:
The Treaty of Chaguaramas established the Caribbean Community (CARICOM) in 1973. Its purpose is to promote economic integration among its 15 member states. Investors operating in St. Vincent and the Grenadines have preferential access to the entire CARICOM market. The Revised Treaty of Chaguaramas (RTC) established the CSME, which permits the free movement of goods, capital, and labor among CARICOM states. CARICOM has bilateral agreements with Cuba, Colombia, Costa Rica, the Dominican Republic, and Venezuela. In 2013, CARICOM entered into a Trade and Investment Framework Agreement with the United States.
Organization of Eastern Caribbean States
The Revised Treaty of Basseterre established the OECS. The OECS consists of seven full members (Antigua and Barbuda, Dominica, Grenada, Montserrat, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines), and three associate members (Anguilla, Martinique, and the British Virgin Islands). Guadeloupe signed an accession agreement to the OECS in 2019. The purpose of the Treaty is to promote harmonization among member states in foreign policy, defense and security, and economic affairs. The six independent countries and Montserrat ratified the Revised Treaty of Basseterre establishing the OECS Economic Union, which entered into force in 2011. The Economic Union established a single financial and economic space within which goods, services, and people move without hindrance.
CARIFORUM-EU Economic Partnership Agreement
The Caribbean Forum of African, Caribbean and Pacific States (CARIFORUM) and the European Community signed an Economic Partnership Agreement (EPA) in 2008. The overarching objectives of the EPA are to alleviate poverty, promote regional integration and economic cooperation, and foster the gradual integration of the CARIFORUM states into the world economy by improving trade capacity and creating an investment-conducive environment. The EPA promotes trade-related developments in areas such as competition, intellectual property, public procurement, the environment, and the protection of personal data.
CARIFORUM-UK Economic Partnership Agreement
The UK and the CARIFORUM states signed an EPA in 2019, committing to trade continuity after Britain’s departure from the European Union. The CARIFORUM-UK EPA eliminates all tariffs on all goods imported from CARIFORUM states into the UK, while those Caribbean states will continue to gradually cut import tariffs on most of the region’s imports from the UK.
Caribbean Basin Initiative
The Caribbean Basin Initiative facilitates the economic development and export diversification of the Caribbean Basin economies. It promotes economic development through private sector initiatives in Central America and the Caribbean by expanding foreign and domestic investment in non-traditional sectors, diversifying country economies, and expanding their imports. The Caribbean Basin Initiative provides beneficiary countries with duty-free access to the U.S. market for most goods. It permits duty-free entry of products manufactured or assembled in St. Vincent and the Grenadines into the United States.
Caribbean/Canada Trade Agreement (CARIBCAN)
CARIBCAN is an economic and trade development assistance program for Commonwealth Caribbean countries in which Canada provides duty-free access to its national market for most products originating in Commonwealth Caribbean countries.
13. Foreign Direct Investment and Foreign Portfolio Investment Statistics
Table 3: Sources and Destination of FDI
Data not available.
Table 4: Sources of Portfolio Investment
Data not available.