August 2023

The Review of the Common External Tariff (CET) and Rules of Origin (RoO) is of major importance to the regional private sector. The CPSO has developed functional and institutional structures for active participation in the CET and RoOs Sectoral Working Groups.

The completion of the review process is a priority for the CPSO, given the cross-cutting relationship which the CET maintains as the major instrument of policy in the CSME goods sector.

The CPSO conducts consultations with private sector and undertakes analysis for the development of a regional private sector consensus on the ‘Review of the CARICOM RoO’ and CET, in order to make them ‘fit for purpose’. This includes simplification of the rules where necessary, as well as the introduction of new rules for consideration. The CPSO has made significant submissions to the Review processes.

Non-Communicable Diseases (NCDs) constitute an urgent development, health and productivity challenge to Caribbean people and Caribbean economies. The regional private sector supports a comprehensive approach to addressing NCDs, consistent with the United Nations General Assembly Resolution on NCDs. This approach includes the introduction of an appropriate policy response, including an appropriate Front of Package Nutrition Labelling (FoPNL) Scheme suited to the peculiarities of CARICOM States as Net-Food Importing Developing Countries (NFIDCs) with a commitment to deepening intra-regional trade of agri-food products, including processed products.

The regional private sector supports the adoption of an FoPNL regime for CARICOM. However, the introduction of measures, and critical policy shifts for the Community, such as FoPNL, should be evidence-based and rooted in a model which provides ‘best fit’ for the realities faced by CARICOM Countries.

The empirical findings of the CARICOM Impact Assessment Study: “Determination of An Appropriate FoPNL Scheme and the Identification of a Harmonized Approach for Implementation” demonstrate that the US Facts Up Front and the UK Traffic Light FoPNL models, which are already included on the packaging of several products within the Region, are best suited for achieving the regional population’s health objectives, compared to the proposed Octagon Warning Label (OWL) currently present in the Draft CARICOM Regional Standard (DCRS 5)

The evidence-based work conducted in CARICOM Markets, indicates that regional consumers are more effectively influenced by the FoPNL schemes of our major trading partners, US Facts Upfront and the UK Traffic Light. As NFIDCs with a several manufacturers exporting to the US and UK markets, these FoPNL schemes are not only more effective in influencing our consumers, they are also least disruptive to critical trade and manufacturing that support food security in the Region.

It is also important to note that the regional private sector is already engaged in a substantial number of initiatives to support the reduction of the level of NCDs within the Region. In support of reducing NCDs several manufacturers within the CARICOM market have undertaken efforts to not only reformulate, but to create healthier product offerings. Promoting a healthy lifestyle is not only about food consumption but also implementing/utilizing approaches/ policies on multiple levels, such as encouragement to exercise and reduction of illiteracy (in order to equip consumers to make informed healthy lifestyle choices for themselves).

Emerging from the work on FoPNL, the regional private sector has adopted a coordinated approach aimed at intensifying the focus on addressing and eliminating NCDs through deliberate actions involving the business community, including the Food and Beverage Sector. Accordingly, the CPSO will establish a Working Group to address NCDs, with a focus on a comprehensive package of measures that address diets, education and awareness, exercise, and prudent public policy.  This Working Group will facilitate a more ‘joined up’ response by the regional private sector to the challenges faced by NCDs.

The Working Group will also contribute to the advancement of the ‘Calorie Initiatives’ being conceptualised and actioned by the private sector.

Non-Communicable Diseases (NCDs) constitute an urgent development, health and productivity challenge to Caribbean people and Caribbean economies. The regional private sector supports a comprehensive approach to addressing NCDs, consistent with the United Nations General Assembly Resolution on NCDs. This approach includes the introduction of an appropriate policy response, including an appropriate Front of Package Nutrition Labelling (FoPNL) Scheme suited to the peculiarities of CARICOM States as Net-Food Importing Developing Countries (NFIDCs) with a commitment to deepening intra-regional trade of agri-food products, including processed products.

The regional private sector supports the adoption of an FoPNL regime for CARICOM. However, the introduction of measures, and critical policy shifts for the Community, such as FoPNL, should be evidence-based and rooted in a model which provides ‘best fit’ for the realities faced by CARICOM Countries.

The empirical findings of the CARICOM Impact Assessment Study: “Determination of An Appropriate FoPNL Scheme and the Identification of a Harmonized Approach for Implementation” demonstrate that the US Facts Up Front and the UK Traffic Light FoPNL models, which are already included on the packaging of several products within the Region, are best suited for achieving the regional population’s health objectives, compared to the proposed Octagon Warning Label (OWL) currently present in the Draft CARICOM Regional Standard (DCRS 5)

The evidence-based work conducted in CARICOM Markets, indicates that regional consumers are more effectively influenced by the FoPNL schemes of our major trading partners, US Facts Upfront and the UK Traffic Light. As NFIDCs with a several manufacturers exporting to the US and UK markets, these FoPNL schemes are not only more effective in influencing our consumers, they are also least disruptive to critical trade and manufacturing that support food security in the Region.

It is also important to note that the regional private sector is already engaged in a substantial number of initiatives to support the reduction of the level of NCDs within the Region. In support of reducing NCDs several manufacturers within the CARICOM market have undertaken efforts to not only reformulate, but to create healthier product offerings. Promoting a healthy lifestyle is not only about food consumption but also implementing/utilizing approaches/ policies on multiple levels, such as encouragement to exercise and reduction of illiteracy (in order to equip consumers to make informed healthy lifestyle choices for themselves).

Emerging from the work on FoPNL, the regional private sector has adopted a coordinated approach aimed at intensifying the focus on addressing and eliminating NCDs through deliberate actions involving the business community, including the Food and Beverage Sector. Accordingly, the CPSO will establish a Working Group to address NCDs, with a focus on a comprehensive package of measures that address diets, education and awareness, exercise, and prudent public policy.  This Working Group will facilitate a more ‘joined up’ response by the regional private sector to the challenges faced by NCDs.

The Working Group will also contribute to the advancement of the ‘Calorie Initiatives’ being conceptualised and actioned by the private sector.

CARICOM Heads of Government approved the establishment of the CARICOM Private Sector Organisation (CPSO) at its 40^th Regular Meeting of the Conference in July 2019, as commitment to private sector participation. The CPSO was officially conferred the status of an Associate Institution of CARICOM on 29^th October 2020, at the 41^st Regular Meeting of the Conference of Heads of Government of the Caribbean Community.  CPSO is to act as the “Apex” Institution for the Private Sector in CARICOM.

Prime Minister of Barbados, Mia Mottley, Lead Head with responsibility for the CARICOM Single Market and Economy CSME), issued an urgent call for the Region to reduce the extra-regional food import bill by 25% before 2025. The “Twenty-five by 2025 Initiative” aimed at reducing extra-regional agri-food imports by 25% by 2025, is the CPSO’s response to the mandate given by Prime Minister Mottley.

The CPSO prepared a comprehensive submission for consideration by the Heads of Government at the 31 Intersessional in February 2020, focused on seven priority investment business cases: Poultry Meat and Hatching Eggs, Animal Feed, Meat Products, Vegetables, Cassava, and Coconut products, as well as an eighth area of work in progress which focuses on Leveraging Regional Distribution Networks to develop accessible markets for products from Micro, Small and Medium Enterprises (MSMEs).

The CPSO will prepare investment business cases to capitalise on CARICOM Single Market and Economy (CSME) agri-food opportunities, consistent with the objective of reducing CARICOM’s food import bill, enhancing food and nutrition security, strengthening the Region’s agriculture resilience, and identifying opportunities for extra-regional exports.

These priorities target the displacement of US$418.8 million worth of extra-regional agri-food imports (based on 2018 trade data). At present less than 1 percent of CSME trade occurs in most of the identified opportunities.

STRATEGIC AGRI-INVESTMENT OPPORTUNITIES