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