KINGSTON, Jamaica — Major private sector organizations across seven Caribbean Community (Caricom) nations have issued a strong endorsement of the Caricom Single Market and Economy (CSME), emphasizing its critical role in regional economic integration and resilience. This unified stance emerges as a direct response to recent criticisms leveled against Caricom by Trinidad and Tobago’s Prime Minister Kamla Persad-Bissessar.
In a collective statement, the business groups characterized Caricom as “the forum for leaders, governments, institutions and the people of our community to join hands and stand shoulder to shoulder in solidarity to transform vulnerabilities into assets.” The declaration notably avoided direct reference to Persad-Bissessar’s remarks while implicitly addressing the underlying tensions.
The Trinidadian leader had previously denounced Caricom as “not a reliable partner,” particularly criticizing the organization’s stance toward Venezuela’s Nicolás Maduro administration and its relationship with the United States. These comments marked one of the most significant public challenges to Caribbean unity in recent years.
The private sector coalition, operating under the Caricom Private Sector Organisation (CPSO) umbrella, includes influential business groups from Trinidad & Tobago, Jamaica, Barbados, Guyana, Eastern Caribbean States, Suriname, and Belize. These organizations highlighted the CSME’s demonstrable economic benefits, citing enhanced intra-regional trade, strengthened supply chains, and substantial foreign exchange earnings across member states.
CPSO, which gained associate institution status within Caricom in October 2020, emphasized the historical significance of the CSME framework, tracing its origins to the 1989 Declaration of Grand Anse and the Revised Treaty of Chaguaramas in 2001. The private sector representatives affirmed that the vision of creating “greater economies of scale to regional business and more opportunities for Caricom citizens to thrive remains a relevant aspiration.”
The business leaders articulated a nuanced position on international relations, stating: “The Caricom private sector places great value on the benefits derived both from intra-Caricom trade and from the community’s strong trading relationships beyond the region, including with the United States.” They characterized these relationships as complementary rather than competitive, reinforcing economic resilience and diversification.
The statement concluded with a commitment to collaborative improvement of the CSME framework and extended seasonal goodwill to all Caribbean citizens, expressing optimism for continued dialogue and respectful engagement in pursuing regional advancement and security.