Caribbean Basin Initiative (CBI)

The Caribbean Basin Initiative (CBI), established in 1983, is a U.S. trade program designed to promote economic development and trade with Caribbean and Central American countries. It offers these nations duty-free or reduced-tariff access to U.S. markets for many goods, encouraging investment and economic growth. The initiative aims to support regional stability, create jobs, and foster closer economic ties, while also providing these countries opportunities to develop their industries and reduce reliance on imports. Overall, CBI helps integrate the Caribbean economies into global trade networks, benefitting both the region and the United States.