In a significant show of regional solidarity, seven major private sector organizations across the Caribbean Community have jointly reaffirmed their steadfast commitment to the CARICOM Single Market and Economy (CSME). This collective endorsement comes five years after the CARICOM Private Sector Organization attained associate institutional status within the regional bloc in October 2020.
The coalition, representing business interests from Trinidad and Tobago, Jamaica, Barbados, Guyana, OECS nations, Suriname, and Belize, has documented substantial benefits derived from the economic integration framework. According to their assessment, the CSME has generated measurable advantages for corporations and workers throughout the region, facilitating notable expansion in intra-regional commerce, reinforcing regional supply networks, and making meaningful contributions to foreign exchange revenues and economic operations across member states.
From a strategic perspective, Caribbean business leaders emphasize the complementary nature of both intra-CARICOM trade and the Community’s robust external trading relationships, particularly with the United States as its principal collective trading partner. These interconnected economic channels collectively strengthen regional economic resilience and diversification efforts.
Amid current global economic volatility, the private sector underscores the critical importance of stability, confidence-building, and constructive multilateral engagement among member nations. The organizations highlighted CARICOM’s continuing relevance as a vital platform for collaborative action, enabling member states to convert economic vulnerabilities into strategic assets through enhanced resilience and deliberate global economic integration.
The signed statement recognizes the shared responsibility of all regional stakeholders in refining the CSME framework to better serve all member states and their populations. In an era marked by increasing global isolationist tendencies, the vision of CARICOM and CSME is deemed essential for collective regional sustainability.
Business leaders specifically acknowledged the collaborative and inclusive framework established by CARICOM Heads of Government to pursue complete CSME implementation. The private sector across the region has pledged continued cooperation with governments and other stakeholders to realize this vision, while extending seasonal goodwill to all CARICOM citizens and anticipating continued constructive dialogue in pursuit of regional advancement and security.