| |
In so far as the Netherlands Antilles
applies the common import tariff of the EU single market, it can freely
export products into the EU which it has sourced externally, without
additional processing. Products originating in the Netherlands Antilles,
or which have undergone “substantial economic transformation”
there, have EU origin. This provides Curaçao direct access
to the European Union (EU), which currently consists of approximately
360 million consumers. This indeed is a privileged trade relationship
with the EU and investors to the island will also have access to these
potential consumers. Curaçao's special access to the EU is
a result of the Overseas Countries and Territories (OCT) arrangement.
Curaçao was once a haven for international trade throughout
the history of the Caribbean; the island's location makes it a perfect
air-and-sea hub for the Latin American and Caribbean markets, which
has a combined population of more than 460 million people. Globalization
today puts Curaçao once again in a position to be a major trading
center for most products destined for the South, Central and Caribbean
markets.
Furthermore, Curaçao is also able to take advantage of a favored
relationship with the United States market, which consists of over
300 million inhabitants. This trade relationship is a direct payoff
resulting from the 1990 Caribbean Basin Initiative (CBI II), the CBI
allows most exports to enter the United States duty free.
These trends, in combination with the various international trade
relationships, gives Curaçao the unique ability to trade with
over one billion potential customers while avoiding high tariffs. |
