February 2026

CPSO Applauds Belize and Guyana Sugar Refinery Projects as Strategic Investments to Reduce CARICOM Food Import Bill

By Afiya RayBelize, Guyana, news, Press Release, pressreleaseNo Comments

Bridgetown, Barbados — The CARICOM Private Sector Organization (CPSO) expresses support for the sugar refinery investments being made in Belize and Guyana by joint ventures involving Sucro Limited, Santander Sugar Limited, and GAICO Construction & General Services Inc, which will expand the regional supply of refined sugar within the CARICOM Single Market and Economy (CSME).

CARICOM currently sources a significant amount of refined sugar from extra-regional sources. According to CPSO estimates, in 2024, the Region imported just over USD150 million in refined sugar. The Belize and Guyana sugar refinery investments will therefore add regional refining capacity and reduce the Region’s dependence on external sources by allowing more of the Region’s raw sugar to be processed within the Community.

The Belize project, under Caribbean Sugar Refinery Limited, will be located within the Santander complex in the Valley of Peace and is expected to commence operations before June 2026. In Guyana, Demerara Sugar Refinery Inc., located at the former Wales Estate, will utilize proven refinery assets and technology being relocated from Canada, alongside raw sugar produced by Guyana Sugar Corporation (GuySuCo), to support a quick commencement of operations.

The CPSO commended His Excellency Dr. Mohamed Irfaan Ali, President of the Cooperative Republic of Guyana, and the Honourable John Briceño, Prime Minister of Belize, for their leadership and commitment in championing the refinery investment and for their support for the CARICOM sugar industry. Noting that this policy commitment was publicly reaffirmed before the Belize National Assembly on February 2, 2026, the CPSO emphasized that the clear policy signal transmitted from the highest political level would further bolster private sector confidence to increase investments in the agri-food sector and position CARICOM as a stable and secure market for regionally produced goods.

Dr. Patrick Antoine, Chief Executive Officer and Technical Director of the CPSO, described the refinery investments as strategic for the rebuilding of CARICOM’s sugarcane production capacity. He noted that the projects are closely aligned with both the region’s agri-food policy and strategy, under the 25 by 2025 plus 5 (2030) agenda, and the Community’s Industrial Policy.

Dr. Antoine further noted that the immediate priority must be to meet intra-regional demand with regionally processed output. By securing the CARICOM market first, the CSME will provide the opportunity for the refineries, supported by expanding sugar production, to achieve the scale and competitiveness required for long-term sustainability.

He added that strong regional policy coordination will be essential to support investments of this scale, making the point that “Private capital can only transform regional agriculture into agroindustry, where market certainty and policy coherence exist across CARICOM. For these investments to achieve their full regional impact, they must be supported by coordinated trade, agriculture, and industrial policies.”

The refinery projects, together with expanded sugar cane production, represent a critical shift for the Caribbean sugar and sweetener value chain. The expansion of regional refining capacity is fully aligned with the Community’s objective of reducing the extra-regional food import bill and deepening regional value chains under the 25 by 2025 plus 5 (2030) agenda.

February 7, 2026

CPSO Rallies CARICOM and African Businesses Around US$322M Agribusiness Trade Opportunity

By Afiya RayAfrica Union-CARICOM Trade, news, Press Release, pressreleaseNo Comments

A quantified US$322 million agribusiness trade opportunity between CARICOM and the Africa Union markets is now driving the call for private sector firms on both sides of the Atlantic to move from dialogue to concrete action, in the sector.

Dr. Patrick Antoine, Chief Executive Officer and Technical Director of the CARICOM Private Sector Organization (CPSO), issued the call on Friday, January 30^th, 2026, during the third session of the four-part AfriCaribbean Private Sector Webinar Series hosted by the International Trade Centre (ITC), the CPSO, the Africa Business Council and Afreximbank. In his remarks, Dr. Antoine linked the US$322 million agribusiness opportunity directly to CARICOM’s priority focus on strengthening regional food production while strategically reshaping the Region’s trade relationships.

Insisting that the time had come to move from discussion to execution, Dr. Antoine affirmed that,

“Our (the CPSO) research, supported by our Africa Business Council and Afreximbank partners, has quantitatively established agritrade opportunities around US$322 million based on historical trade patterns and competitiveness analysis.”

He noted that this estimate, drawn from bilateral trade patterns between 2000 and 2025, provides a practical foundation for expanding agribusiness trade at a time when affordability and food security remain critical concerns for CARICOM Member States, many of which are net food importers.

Referring to CARICOM’s 25% by 2025 plus 5 agenda, Dr. Antoine explained that the CPSO had been mandated by Heads of Government to identify concrete product opportunities and the support mechanisms required to realize them.

“For us in the Caribbean, this issue of food and agriculture has been taken to the level of the highest priority,” he stated. “These actions help us to identify reciprocal opportunities, grow trade, and reduce extra-regional dependence.”

Beyond commodity trade, Dr. Antoine noted that there was significant potential for the transfer of intellectual property, know-how, brands, technologies, and management systems between Africa Union and CARICOM firms.

“While bulk commodities may not move easily between our regions, the intellectual property, know-how, brands, and management systems certainly can. We think those are exciting prospects for collaboration.”

Such practical business engagement, he added, could lay the groundwork for more formal trade frameworks in the future.

He also identified four Africa Union markets in South Africa, Tunisia, Morocco and Egypt, as presenting significant, immediate possibilities for sustainable South-South business partnerships.

Dr. Antoine further emphasized that beyond private sector partnerships and supportive policy frameworks, technical cooperation with development agencies also plays an important role in unlocking these opportunities as he cited the work of the Inter-American Institute for Cooperation on Agriculture (IICA) in advancing the cassava industry through applications in beverages, milling, artisanal products, and technologies emerging from Brazil. Growing African interest in Brazil’s cassava technology ecosystem, he noted, ‘provides an example of how third-country expertise can support Africa-Caribbean collaboration and strengthen production capacity and value addition.’

The CPSO, with the support of CARICOM partners and development partner institutions, as well as private sector entities, will continue advancing the private-sector investments needed to realise these opportunities and strengthen South–South economic cooperation.

February 4, 2026