Trinidad and Tobago’s leading business organizations are emphasizing the critical importance of maintaining regional stability while pursuing international market expansion. This position emerges following recent diplomatic tensions between Prime Minister Kamla Persad-Bissessar and Antigua and Barbuda’s Prime Minister Gaston Browne regarding CARICOM’s effectiveness.
Business leaders have unanimously expressed support for CARICOM as Trinidad’s second-largest non-energy export market, behind only the United States. The consensus follows revelations that Trinidad earned approximately US$1.1 billion in foreign exchange from CARICOM trade in 2024 alone, comprising US$784.7 million in domestic exports and US$501.3 million in re-exports to member states.
Dr. Ramesh Ramdeen, CEO of the Trinidad and Tobago Manufacturers’ Association (TTMA), stated that regional producers would face significant disadvantages if CARICOM integration weakened. “We need to collectively work together to ensure all organs of CARICOM are optimal,” Ramdeen emphasized, highlighting the benefits of the Common External Tariff that enables competitive trading against extra-regional imports.
While supporting global expansion ambitions, Ramdeen clarified that international growth should not come “at the expense of our CARICOM brothers and sisters.” The TTMA is actively pursuing both outward trade missions beyond the region and inward buyer missions to Trinidad to achieve export doubling targets within five years.
Dianne Joseph, President of the TT Coalition of Service Industries, warned that geopolitical friction within CARICOM creates uncertainty that disrupts trade and investment. “Businesses may perceive trading with Venezuela or Caribbean partners as a heightened risk,” Joseph noted, particularly emphasizing the vulnerability of smaller enterprises compared to larger corporations with greater resilience.
The Trinidad and Tobago Chamber of Industry and Commerce echoed these concerns, emphasizing the deep commercial ties throughout the region that include established customers, supply chains, and physical investments. The organization called for “continuity and predictability” in regional trade relations, emphasizing that businesses require stable market access and reliable logistics linkages for long-term planning.
All three organizations expressed commitment to a rules-based regional framework while acknowledging the need for CARICOM evolution that balances cooperation with national sovereignty considerations. They recommended resolving tensions through private mediation rather than public confrontation to maintain economic resilience and regional integration benefits.