In a significant show of regional solidarity, private sector organizations across the Caribbean have collectively reaffirmed their commitment to the CARICOM Single Market and Economy (CSME). The CARICOM Private Sector Organization (CPSO) emphasized the critical importance of regional economic integration during a period of heightened global economic instability.
In an official statement released Tuesday, the CPSO highlighted that the CSME framework has generated substantial advantages for both corporations and workers throughout the Caribbean community. These benefits include notable expansion in intra-regional commerce, reinforced supply chain networks, and enhanced foreign exchange revenues for participating nations.
The declaration received endorsement from prominent business organizations across multiple CARICOM member states, including Belize, Jamaica, Trinidad and Tobago, Guyana, Barbados, Suriname, and the Organization of Eastern Caribbean States Business Council.
The CPSO simultaneously addressed the region’s international economic relationships, noting that the United States continues to serve as CARICOM’s principal collective trading partner externally. From a commercial perspective, the organization characterized these international partnerships as complementary rather than competitive with regional integration efforts.
This reaffirmation of support emerges against a backdrop of renewed discussions regarding the velocity and efficacy of regional consolidation. The timing is particularly notable following recent diplomatic tensions, including Trinidad and Tobago’s Prime Minister Kamla Persad-Bissessar publicly distancing her government from a CARICOM statement concerning U.S. visa restrictions imposed on Dominica and Antigua & Barbuda.
The CPSO statement concluded with a powerful call for strengthened collaboration among member nations, asserting that the maxim ‘stronger together’ holds exceptional relevance in the current global climate. The organization further emphasized that the CARICOM and CSME frameworks remain indispensable for collective sustainability in an increasingly fragmented world economy.