Caribbean Basin Initiative (CRS Report for Congress)
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| Release Date |
Sept. 19, 1983 |
| Report Number |
IB82074 |
| Authors |
Jonathan Sanford, Foreign Affairs and National Defense Division |
| Source Agency |
Congressional Research Service |
Summary:
The Reagan Administration has proposed legislation which would seek to usetrade and aid to promote political stability and economic growth in theCaribbean Basin region. Among other things, it would create a one-way freetrade zone, where the small natjons of the region would have an opportunityfor export-led growth through duty-free access to the U.S. market. It wouldalso provide $350 million in economic aid.for 1982 to El Salvador and otherCaribbean countries.The House or Representatives approved legislation in the post-electionsession, in 1982, approving the international trade portion of the CaribbeanBasin Initiative (CBI) plan. The Senate took no action on the measurehowever, and it expired at the end of the 97th Congress. On Fet. 22, 1983,the President submitted the trade portion of the CBI plan for reconsiderationby Congress.
