In a landmark development for Caribbean economic integration, the CARICOM Private Sector Organization (CPSO) has enthusiastically endorsed the newly ratified CARICOM Industrial Policy and Strategy (CIPS) 2035. The policy received formal adoption during the Fiftieth Regular Meeting of CARICOM Heads of Government convened in St. Kitts and Nevis this past February.
The CPSO, representing collective business interests across the region, characterizes CIPS 2035 as a transformative framework designed to propel industrial growth through private sector leadership. The comprehensive strategy outlines mechanisms for stimulating innovation ecosystems and fortifying inter-industry linkages throughout CARICOM member states. This coordinated architectural approach specifically targets enhanced positioning within global value chains, potentially elevating the region’s competitiveness in international markets for both goods and services.
Notably, the CPSO played an instrumental role in the policy’s formulation through active participation in technical consultations and developmental dialogues. The organization facilitated crucial input from diverse business constituencies while collaborating with the CARICOM Secretariat, member state governments, and regional institutions to ensure the policy’s alignment with contemporary commercial realities and opportunities.
Dr. Patrick Antoine, CPSO’s Chief Executive and Technical Director, identified the policy as a pivotal milestone for Caribbean economic development. “This represents a foundational advancement toward reinforcing our productive sectors and unleashing new potential for CARICOM enterprises,” Antoine remarked. He further emphasized the imperative of translating policy into concrete action, specifically advocating for the operationalization of the Competitiveness Council to strengthen regional supply networks, foster innovation, and enhance global market competitiveness.
The organization additionally acknowledged the leadership of Suriname’s President within the CARICOM Quasi-Cabinet structure, recognizing the concerted governmental efforts that enabled the policy’s development and ultimate ratification. Looking forward, the CPSO reaffirmed its commitment to collaborative implementation with regional stakeholders to actualize the strategic objectives outlined in CIPS 2035, ensuring tangible economic outcomes across the Caribbean community.