It would be impossible to talk about trade without mentioning the acronym CARICOM. (An acronym is a word formed by combining the initials or the first letter in a group of words.) Before we talk about CARICOM however, let us look at the word “trade”.
What is trade and why do people trade?
Trade is the exchange of goods or services between persons.These persons can be within the same town or country or from different countries or regions.When trading takes place people generally benefit from things which they could not produce or which they don’t have enough of themselves.
During trading, if things are brought into a country from another country we say that the goods are imported. If they are sent from your country to another, we say that the goods are exported.