Negotiations are underway in Kingston, Jamaica, between the European Union (EU) and the Caribbean’s fifteen member states in order to hammer out an economic collaboration agreement. The process, scheduled to be wrapped up in 2007, will contribute to further open up trade between both regions and set up clear-cut commercial guidelines, according to a press release issued by the European Community.

Inflation in the Dominican Republic rose an incredible 24.4 percent in the first quarter of the ongoing year, while inflation rate for a single month peaked 62.3 percent in March, the country’s Central Bank reported today.

According to a press release issued by the CB, the consumer index was up 2.3 percent in the month of March.

The CB underlined such a price variation in March stood for “a significant slowdown from the numbers posted in January (9.2 percent) and February (11.2 percent) of last year.

Cuba will be soon exporting eight brands of rums other than Havana Club, the island nation’s landmark spirit, as a result of its top-quality distilling, Belkys Acosta, chief of Exports and Sales for Cuba’s Ministry of Food Industries, said in a press conference a few days ago.

The new rums entering the international market are Santiago de Cuba and Cubay from Cuba-Ron; Legendario and Arecha produced by the Beverage and Soft Drink League; Mulata and Bucanero from Tecnoazucar, and Varadero and Caney distilled by CIMEX.

Panama’s Copa Airlines is heralding discount airfares for Central America flights of up to 40 and 55 percent off –depending on the end destination- in an effort to boost up tourism in the region, a spokesperson for the air company revealed today.

“Copa Airlines continues to put its smart money on tourism and economic development for the region as it seeks to become the best carrier in Central America,” explained Jorge Garcia, Copa’s marketing deputy director.

Trinidad will inject 10 million dollars into BWIA and exchange 30 million dollars in debt for equity in the latest bailout of the airline, and it will also provide Eastern Caribbean $6.3 million dollars in loans to Caribbean governments that hold shares in LIAT airline to assist that cash-strapped carrier.

The debt-for-equity swap could result in Trinidad´s government increasing its 33.5 percent share in BWIA. The government will ask private shareholders to participate in exchanging debt for shares, but may do it alone if they refuse, Trade and Industry Minister Ken Valley said.

Panama’s leisure industry generated $805 million worth of revenues in 2003, up an eye-popping 126 percent gain from 2002, the Panamanian Tourism Institute (IPAT) informed today.