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

By Belize, 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 Africa 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 30th, 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

Former Miss Universe calls for AfriCaribbean Collaboration to Capture Multi-Billion Dollar Skincare Market Opportunity

By Africa Union-CARICOM Trade, Beauty, CARICOM, Fashion, Press Release, pressrelease, Skincare, TradeNo Comments

Former Miss Universe and Caribbean entrepreneur Ms. Wendy Fitzwilliam has identified a major economic opportunity for the Caribbean Community (CARICOM) and the Africa Union to collaborate in building globally competitive fashion, beauty, and skincare industries for the world’s largely underserved, melanated population.

Speaking at the second installment of the AfriCaribbean Private Sector Webinar Series on January 27, 2026, Ms. Fitzwilliam emphasized that beauty and fashion must no longer be viewed as merely lifestyle industries but as strategic economic sectors capable of driving entrepreneurship, export growth, and inclusive development across both regions.

The former Miss Universe noted that the global skincare market is already valued at US$160 billion and projected to reach US$230 billion by 2032, while the wider beauty and fashion industries are worth over US$2 trillion.

Identifying access to ethical, natural raw materials such as cocoa, moringa, sea salt, ginger, and neem among other ingredients as a key advantage for both regions, she challenged policymakers, private sector leaders, and development partners to begin building the trade, logistics and payment systems that allow these inputs to move efficiently between Africa Union and CARICOM producers and onward to global markets.

“The opportunity is not only in what we produce, but in how quickly and reliably we can connect producers, processors, formulators, brands, and consumers across our regions,” she said.

The heart of Ms. Fitzwilliam’s message was framed by a simple but powerful insight: The majority of the global population is melanated, yet very few global skincare lines are specifically designed for their needs.

Ms. Fitzwilliam emphasized that the imbalance in the market represents a significant missed opportunity. Against this scale of demand, she contended that Africa and the Caribbean are uniquely positioned to capture a meaningful share of the market by building integrated value chains for products designed specifically for melanated skin. She acknowledged, however, that persistent challenges in trade facilitation, distribution channels, interoperable payment systems, and particularly the time it takes for goods to move between both regions remain key barriers. These are not insurmountable issues, she noted; once addressed, both regions could unlock substantial economic gains.

Calling for deeper collaboration between operators across Africa and CARICOM, Ms. Fitzwilliam expressed confidence that globally competitive brands could be built on authenticity, quality storytelling, and premium positioning rooted in biodiversity, culture, and traditional knowledge.

“The big global companies are already searching for the next breakthrough for melanated skin. We should build it for ourselves, first,” she encouraged. “This is not a small niche. This is a high-value, targeted global market. And we are uniquely positioned to lead it.”

The AfriCaribbean Private Sector Webinar Series are hosted by the International Trade Center in partnership with the Afreximbank, the CARICOM Private Sector Organization (CPSO) and the African Business Council. The third instalment, Harvesting Opportunities: Building Resilient AgriTrade across Africa and the Caribbean, is scheduled for January 30, 2026.

January 28, 2026

Africa Union Exports to CARICOM Could Surpass US$1 Billion

By Africa Union-CARICOM Trade, CARICOM, news, Press Release, pressreleaseNo Comments

Bridgetown, Barbados — Exports from the Africa Union to CARICOM could cross the US$1 billion mark, according to a CARICOM Private Sector Organization (CPSO) Study unveiled this week, signalling a major opportunity to rewire CARICOM import supply chains.

Honourable E.P. Chet Greene, Minister of Foreign Affairs, Trade and Barbuda Affairs of Antigua and Barbuda, highlighted the findings of the CPSO Study, “Africa Union-CARICOM Trade in Goods: Scope and Potential”, at the opening of the AfriCaribbean Private Sector Webinar Series, “Unlocking AfriCaribbean Trade and Investment: Opportunities, Ecosystems and Private Sector Leadership” on Tuesday, 20th January, 2026.

The webinar is the first in a four-part series designed to unlock concrete trade, investment, and business-to-business opportunities between the Africa Union and the Caribbean Community (CARICOM). Jointly organized by the International Trade Centre (ITC), the African Export-Import Bank (Afreximbank), the CARICOM Private Sector Organization (CPSO), and the Africa Business Council (AfBC), the virtual forum brought together Ministers, development institutions and over 200 business leaders and private sector firms from across Africa and the Caribbean, to explore pathways for expanding commercial ties between the two regions.

In delivering the keynote address, Minister Greene emphasized that a shifting global trade environment has made stronger Africa Union-CARICOM economic relations an urgent necessity. He pointed out that rising protectionism, geopolitical uncertainty, and supply-chain disruptions are placing increasing pressure on CARICOM economies, where micro, small, and medium enterprises (MSMEs) account for the vast majority of businesses.

The Minister also emphasised that strengthening Africa-CARICOM commercial ties is a strategic imperative, noting that successive Africa-CARICOM Summits and the AfriCaribbean Trade and Investment Forum (ACTIF) have established an important political foundation.  Minister Greene stressed, however, that the next phase must be driven by business.

“Political leadership establishes the framework, but it is businesses that drive innovation, generate trade volumes, mobilize investment, and create employment,” Minister Greene said. “If AfriCaribbean integration is to succeed in practical terms, it must now be carried forward by the private sector.”

Also citing the results of research conducted by the CARICOM Private Sector Organization, Minister Greene highlighted data showing that the Africa Union has the capacity to supply a wide range of goods competitively. The analysis indicates that deeper sourcing from the Africa Union could strengthen supply-chain resilience and reduce the Region’s vulnerability to external policy shocks.

Minister Greene also acknowledged persistent constraints to expanding trade, including limited transport connectivity, high logistics costs, and fragmented payment systems. He issued the call for innovative approaches to financing, shipping and digital payments to unlock the full potential of the partnership.

While Minister Greene framed Africa-CARICOM engagement as a strategic imperative, CPSO Chief Executive Officer and Technical Director Dr. Patrick Antoine grounded the discussion in market data and commercial execution.

Dr. Antoine presented findings from the recent CPSO Study, which identified up to USD 1.6 billion in potential competitive opportunities for Africa Union exports to CARICOM. The analysis also demonstrated that at least 13 Africa Union countries are each capable of supplying more than USD 58 million in CSME non-mineral fuel imports at prices typically averaging 60% of current benchmarks. Importantly, across the 579 product lines identified as competitively priced, the Study found that for most products there are typically 4 Africa Union countries from which CARICOM can source imports at competitive prices, underscoring both the depth and diversity of available supply options.

Dr. Antoine also reinforced the importance of proactive private sector engagement, warning that shifting global policies in major markets require CARICOM firms to seek new commercial pathways and diversify trade relationships.

“At moments like these, the role of the private sector becomes even more vital,” Dr. Antoine stated. “We must be prepared to respond with agility and seize opportunities wherever they emerge.”

Beyond the data, Dr. Antoine issued a call to action to CARICOM businesses, declaring, “We in the CARICOM Private Sector have no option but to explore and execute on opportunities to navigate this ‘collective turbulence’. We in the CARICOM Private Sector choose not to whither; we choose not to retreat. Instead, we choose to engage, and to keep on engaging. We choose to relentlessly confront the persistent challenges: challenges of ‘affordability’, trade concentration, and surmounting the inefficiencies of scale and size, with cooperation, integration and a laser sharp focus on ‘doing business’.”

Mr. Anthony Ali, Chief Executive Officer of Goddard Enterprises Limited and a member of the CPSO Executive Committee, shared practical lessons from his company’s direct engagement with Africa Union markets. While acknowledging challenges, Mr. Ali indicated that substantial opportunities existed for local production partnerships in order to establish CARICOM brands in Africa, and Africa brands in CARICOM.

In concluding his remarks, Mr. Ali also emphasized that successful entry into the markets in the Africa Union requires flexible models such as local production partnerships, licensing arrangements, and stronger institutional support to address financing and logistics gaps.

Also speaking at the event were Pamela Coke-Hamilton, Executive Director of the International Trade Centre; Okechukwu Ihejirika, Chief Operating Officer of Afreximbank’s Caribbean Office; and Dr. Amany Asfour, President of the Africa Business Council. Each underscored the need for stronger business-to-business linkages and data-driven collaboration.

The webinar series will continue over the coming weeks with focused sessions on agribusiness, fashion and creative industries, cosmetics and wellness, and medical and health technologies.

January 21, 2026

CARICOM Private Sector Organisations Reaffirm Commitment to CSME and Regional Integration

By news, Press Release, pressrelease, TradeNo Comments

Bridgetown, Barbados, December 23, 2025-

In October 2020, the CARICOM Private Sector Organization (CPSO) became an “Associate”
institution of the Caribbean Community (CARICOM) and has since worked with fellow private sector
companies and business organisations to advance projects and representations to pursue the noble
objectives of the CARICOM Single Market and Economy (CSME).

The CPSO and fellow private sector organisations in the Region reaffirm that the CSME has delivered
tangible benefits to firms and workers throughout the Region, supporting significant intra-regional
trade, strengthening regional supply chains, and contributing meaningfully to foreign-exchange
earnings and economic activity in Member States, including Trinidad and Tobago.

From the 1989 Declaration of Grand Anse which initiated the process towards the CSME, to the signing
of the Revised Treaty of Chaguaramas in 2001, which established the CSME and the launch of the CSME
in 2006, the vision of CARICOM leaders to create a common market which would provide greater
economies of scale to regional business and more opportunities for CARICOM citizens to thrive
remains a relevant aspiration for our Countries.

The CARICOM private sector places great value on the benefits derived both from intra-CARICOM
trade and from the Community’s strong trading relationships beyond the Region, including with the
United States – the largest collective external trading partner for CARICOM. From a private-sector
standpoint, these relationships are not in competition, they are complementary, reinforcing economic
resilience and diversification.

At a time of global economic uncertainty, the private sector depends on confidence, stability, and
constructive engagement among Member States. In these times, the phrase “stronger together” is
particularly relevant. CARICOM continues to serve as the forum for leaders, governments, institutions
and the people of our Community to join hands and stand shoulder to shoulder in solidarity to
transform vulnerabilities into assets by building resilience and strategically integrating into the global
economy.

We are joined by private sector organisations from across the Region in recognizing that we all have a
role to play in improving the CSME such that it may work better for the benefits of all Member States
and their citizens. In a world of increasing isolation, we recognise that CARICOM and the CSME
vision are critical for our joint sustainability. We acknowledge the collaborative and inclusive
framework afforded to the regional private sector by the CARICOM Heads in pursuit of the full
implementation of the CSME. We in the private sector across the Region are committed to working
together with our governments and other Stakeholders in CARICOM to achieve this vision.

We take this opportunity to thank our CARICOM Heads of Government, the CARICOM Secretariat, and
national and regional Business Support Organisations (BSOs) for the part they have played in
working diligently and in harmony in pursuit of the full implementation of the CSME.

As the holiday season approaches, we extend goodwill to all our fellow CARICOM citizens and look
forward to continuing dialogue and respectful engagement as we collectively pursue the advancement
and security of our Region together.

Signed By:
CARICOM Private Sector Organization
Private Sector Organisation of Trinidad & Tobago
Private Sector Organisation of Jamaica
Barbados Private Sector Association
Private Sector Commission of Guyana
OECS Business Council
Suriname Chamber of Commerce and Industry (Kamer van Koophandel en Fabrieken)
Belize Chamber of Commerce and Industry

December 24, 2025

Regional Private Sector Relief to Jamaica Continues

By Belize, Hurricane Melissa, Jamaica, Press Release, pressreleaseNo Comments

Belmopan, Belize | December 2nd, 2025 — The Belizean private sector, mobilized by the Caribbean Sugar Refinery (CSR), is ramping up support for hurricane relief efforts in Jamaica by sending a second container, this time loaded with critical building materials.

In the aftermath of Hurricane Melissa, Caribbean Sugar Refinery, a Member of the CARICOM Private Sector Organization (CPSO), has utilized its logistical expertise to facilitate the transport of these essential materials, aiming to assist in rebuilding efforts across affected communities in Jamaica. 

The new 40-foot container will transport a variety of building materials, including plywood, roofing sheets, and nails, which are crucial for repairing homes and infrastructure devastated by the hurricane. This shipment underscores the unwavering commitment of Belizean and regional businesses to aid in the recovery process.

The response from these businesses has been a testament to the solidarity and cooperative spirit across the Caribbean. Dr. Patrick Antoine, CPSO CEO and Technical Director, commenting on the continued private sector response action, said, “The private sector continues to demonstrate a deep sense of shared responsibility for our brothers and sisters in Jamaica. The CPSO is proud to support and help coordinate these efforts, and we will continue to work with our regional partners as well as the Jamaican private sector on the ground to ensure that relief reaches those who need it most, and that recovery is swift and resilient.” 

The previous container, containing 22 tons of household staples, is now joined by this shipment of building materials to further bolster the support for the people of Jamaica. This collaborative relief initiative, led by CSR and supported by the Consulate of Jamaica in Belize, continues to thrive through partnerships with organizations in Belize

 Gilbert Canton of Caribbean Sugar Refinery remarked:

“Our thoughts are firmly with the people of Jamaica as they navigate this challenging period. As part of the Caribbean family, we are determined to stand together and support one another. Following this shipment of building materials, we will continue to coordinate efforts with regional businesses to explore further assistance opportunities. Jamaica needs our help, and we are honored to contribute.”

The container of building materials is scheduled to arrive in Jamaica next week, where local partners will ensure swift and effective distribution to regions in urgent need of support.

 

-END-

December 2, 2025

CPSO welcomes the removal of U.S. Tariffs on Key CARICOM Exports

By news, Press Release, pressrelease, US-CARICOM TradeNo Comments

Bridgetown, Barbados – The CARICOM Private Sector Organization (CPSO) welcomes the decision of the United States to remove tariffs on key CARICOM export sectors, bringing important relief to regional industries that had been negatively affected by the reciprocal tariffs implemented in April 2025 and updated in August 2025. The CPSO had previously estimated that the reciprocal tariffs would cost CARICOM Member States USD 653.6 million in export revenue annually, with the largest exposures concentrated in the ‘Base Metals’, ‘Agriculture & Food’ and ‘Chemicals’ sectors.

CPSO Chief Executive Officer and Technical Director Dr Patrick Antoine noted that the coordinated advocacy of CARICOM Heads of Government played a pivotal role in securing the withdrawal of the reciprocal tariffs. He highlighted in particular the work of CARICOM Chairman and Prime Minister of Jamaica, Dr the Most Honourable Andrew Holness ON, PC, M.P., Prime Minister of the Republic of Trinidad and Tobago, the Honourable Kamla Persad Bissessar, S.C., M.P., President of the Co-operative Republic of Guyana, His Excellency Dr Mohamed Irfaan Ali, and Prime Minister of the Commonwealth of The Bahamas, the Honourable Philip Davis K.C., M.P., all of whom engaged United States counterparts on the urgency of addressing the tariff measures affecting agriculture, chemicals and other critical exports.

The burden of the reciprocal tariffs fell most heavily on the ‘Agriculture & Food’ and ‘Chemicals‘ sectors with the CPSO Study estimating potential annual export revenue losses of USD 117.7 million for Agriculture and USD 86.1 million for Chemicals, the latter including fertilizers and other related industrial inputs.

The recent Executive Order issued on November 14, 2025, by President Donald Trump eliminates the reciprocal tariffs and reverses the previous rates applied under the America First trade measures.

Among the products now exempted from the reciprocal tariffs are Ammonia, Urea Ammonium Nitrate (UAN), both essential fertilizers widely used across global agriculture, as well as methanol and selected agri-food products. Trinidad and Tobago, which is CARICOM’s leading industrial and manufacturing exporter, had been the Member State most affected within the Chemicals sector and stands to benefit significantly from the withdrawal of the US tariffs.

The US remains CARICOM’s principal trade and economic partner. The removal of the reciprocal tariffs will, therefore, contribute to the strengthening of the US-CARICOM trade relationship. During the US’ Caribbean Basin Economic Recovery Act (CBERA) Biennial Review Process, which was undertaken in July 2025, the CPSO made a submission to the United States Trade Representative (USTR) outlining the negative implications for CARICOM’s export sectors of the imposition of the reciprocal tariff regime.

In commenting on the change in the US position, Dr Antoine stated that, “This decision is both timely and consequential. It reinforces the competitiveness of Trinidad and Tobago’s exports in the Chemicals sector, which includes fertilizers and related downstream products. It stabilizes key agricultural and agro processing supply chains across CARICOM and provides targeted relief where it is most needed. For Jamaica, a major exporter of agricultural products to the United States, this relief comes at a critical moment, as the nation’s agricultural sector requires all possible support to rebuild its production infrastructure in the wake of Hurricane Melissa.”

Dr. Antoine added, “This outcome demonstrates that when the Community acts in a unified and coordinated manner toward a shared purpose, positive outcomes are achieved for the people of CARICOM. The November 14, 2025, Executive Order while reflecting US domestic priorities, also reinforces the credibility of the CARICOM as a key interlocutor with the United States and highlights the importance of aligning regional positions in pursuit of common purposes.”

Even as the CPSO continues to undertake work aimed at measuring the impact of the remaining tariffs on regional exports, Dr. Antoine noted that with the removal of these key tariffs, a substantial portion of CARICOM’s exports to the United States will benefit immediately. Several categories of imports from the United States into CARICOM that evidenced cost increases due to the increased cost of non-US raw materials and components are also expected to now reflect cost reductions.

While the CPSO welcomes the removal of the tariffs on a substantial part of the region’s agriculture and Chemical exports, the organization will continue to work with the CARICOM Heads of Member States to assist with the elimination of the remaining tariffs affecting CARICOM’s exports to the US.

The CPSO remains committed to supporting CARICOM Heads of Government and the regional private sector in advancing solutions that strengthen trade facilitation, enhance competitiveness and bolster long-term economic resilience.

-END-

November 18, 2025
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