Skip to main content
Category

CARICOM

Remarks by CPSO CEO Dr. Patrick Antoine at the Launch of the 20th Caribbean Week of Agriculture

By Agriculture, CARICOM, news, Press Release, pressrelease, TradeNo Comments

“The time for action is now.”

Remarks by Dr. Patrick Antoine, CEO of the CARICOM Private Sector Organization at the Launch of the 20th Caribbean Week of Agriculture  2026. CWA 2026 is scheduled to be held in Jamaica from September 27th to October 2nd, 2026 under the theme ‘The New F.A.C.E of Caribbean Food Systems.’

SALUTATIONs

I bring greetings on behalf of the CARICOM Private Sector Organization.  

For us at the CPSO, this twentieth convening of the Caribbean Week of Agriculture is a major milestone and offers yet another excellent opportunity for stock-taking, and for planning and planting new seeds of sustainability, seeds of growth, seeds of resilience for our Region’s agri-food system.

Personally, I have come to value the courage of stepping out in faith and planting new seeds. More than twenty years ago, as part of the IICA Caribbean Team, we conceived and launched the first Caribbean Week of Agriculture, hoping only that it would bear fruit for years to come—and it has continued to do so.

I have been privileged to witness its evolution—from its earliest, modest beginnings to the robust regional platform it represents today. What began as a meaningful, humble gathering has now grown into one of the most substantive engagements on the regional agricultural calendar, a testament to the institutions- all of you, all of them- behind it and to the pressing issues it so courageously addresses.

But what I want to dwell on this afternoon is not the history of the CWA, but the significant weight and meaning that this convening carries at this moment.

CWA 2026 arrives at a pivotal moment. I acknowledge the comments and contexts are framed by the distinguished Director General of IICA,  And we endorse them.

As the Region steps into the second phase, this Plus Five Phase of the 25 by 2025 initiative, we carry forward the record of Phase I. That early work did more than advance a plan: it positioned food and nutritional security at the heart of regional resilience, trade balances, balance of payments, and economic integration. Phase I also emphasized the urgency needed to propel the Region’s agricultural sector forward and the opportunities to do so. Indeed, you will no doubt recall the CPSO’s work identified 125 clear agrifood opportunities among the 755 most frequently traded products within the CSME.

Accordingly, the central question before us today is no longer whether food security warrants priority attention.

That argument has been made and won.

Now, the more difficult question is whether the Region is organizing itself—through investments, market structure, logistics, policy coherence, and enterprise development—to actually close the gap between what we import and what we are capable of producing, processing, and trading regionally and extra-regionally. That is the task before us.

We have learned in Phase One that production volumes alone is not a sufficient measure of progress.

The Region must also assess value creation, redouble our actions at reducing the extra-regional food import bill, concretely so, intensify the focus on  market penetration, and the extent to which the economic value generated by food systems is maximized within the CSME and beyond.

There are honest questions we must confront in this assessment of Phase One and learning and lessons of Phase One as we move into Phase Two.

  • For instance, where Phase One identified the priority commodities and value chains, and we have focused well on some, did those opportunities translate into real production in all Member States?
  • How did we perform on real trade flows?
  • How did we perform on private sector investment?
  • How did we perform in growing and expanding our agrifood market share within the Community?

And where uptake of these opportunities have not delivered on the promise of the opportunities, what explains it? Was it logistics? Was it access to capital? Was it scale constraints? Standards and certification barriers? Was it price competitiveness? Or was it policy inconsistency?

Moreover, was it a combination of gaps across the value chain that made otherwise viable opportunities commercially unattractive?

These are precisely the questions that will determine whether the next phase of the regional agenda—’the Plus 5 Phase’ of this regional agenda—achieves the outcomes we are collectively seeking.

In all this, ladies and gentlemen, colleagues, we applaud the work of the Special Ministerial Task Force on Food Security and Food Production led by the Honourable Minister Zulfikar Mustapha.

The CPSO believes that this Phase Two- this Plus 5 Phase- must be data driven, must be driven by evidence in agriculture, in technology, on markets. It must be science grounded with more focused support to agrifood entrepreneurs, including MSMEs, by providing them with greater emphasis on the keys to success of their business, including providing the enabling policy environment for them to achieve growth.

Food security is as much a market-fulfillment challenge as a production challenge. The Region must be able to supply more of what we consume, to process more of what we produce, and to add greater value and  trade products efficiently across borders.

In this regard, we have to make substantial progress in reducing intraregional barriers which exist in agrifood trade among ourselves.

Achieving these objectives requires some shifts in our institutions and greater emphasis on commercial infrastructure, and on mobilizing private capital.

Private capital feeds on clarity. It feeds on structure.

Attracting private sector investment into agriculture and food systems, requires that the investment opportunities are well defined, and the investment environment credible. This requires an even greater  shift from broad appeals to precise investment business cases—targeted value chains, defined processing opportunities, and clear logistics and technology support where the needs exist, viable market pathways, and a realistic view of what motivates to farmers, if not high returns to capital. Only with that clarity will investors—domestic, regional, or international— feel confident to commit even more in Phase Two than the commitments undertaken in Phase One.

This is where CWA 2026 has real potential to differentiate itself. This Caribbean Week of Agriculture can serve as a regional accountability and action mechanism—a space in which the Region can engage in evidence -based and dispassionate assessment of the true status of the extra-regional food import reduction agenda, identifying gaps and transforming the opportunities which still exist into bankable, measurable ‘wins’ for our Community.

A practical contribution is to ground CWA’s discussions in a current status of the Region’s food systems— to identify where progress has been achieved, where constraints persist, and where targeted interventions will have the greatest impact. This foundation will sharpen the Caribbean Week of Agriculture’s outcomes and link what are always excellent engagements to concrete follow-up actions.

The CPSO is committed to this process. We are committed to working with the CARICOM Secretariat, with Member States, regional institutions and development partners such as IICA and FAO, and other private sector players across the Community. Transforming regional ambition into commercially structured and measurable outcomes must remain our focus.

This brings me to the theme of CWA 2026.

The theme “The New Face of Caribbean Food Systems” describes, in four pillars, the integrated approach the Region now needs:

  • Food Security,
  • Agri-Business,
  • Climate-Smart Technologies, and,
  • Export Expansion.

These priorities are mutually reinforcing and deliver results, but only when they are pursued together.

About the ‘F’– History shows that food security pursued without commercial discipline may not be security at all; often times it becomes vulnerability in waiting.

About the ‘A’ – Agri-business, properly developed, becomes a driver of regional value creation rather than merely a productive category.

About the ‘C’ – Climate-smart technologies must rapidly shift from pilot and demonstration into mainstream adoption at scale, for that is the only level at which the change that our economies require will be achieved.  

And the ‘E’ – Export expansion requires genuine competitiveness, reliable supply, and strong market intelligence to sustain it over time.

The Region does require a new ’FACE’ for its food systems—one that is more accountable, more investment-ready, more market-oriented, and more regionally integrated.

The CPSO looks forward to CWA 2026 fulfilling the role that it was conceived to play – the role as a platform where real production, real trade, real investment, and real market shares are not merely aspirations but are rational expectations pursued with structure, vigor and commitment.

The measure of the upcoming 20th CWA in Jamaica, must not only be the quality of the engagements, indeed as you all know we have no doubt that they will be substantial and substantive.

The true measure will be whether the CWA takes the Region meaningfully closer to a targeted response of reducing extra-regional food imports, of strengthening regional value chains and regional sourcing, of fostering greater agrifood enterprise viability, and advancing the construction of an agri-food economy that works better for Caribbean people and Caribbean businesses.

Colleagues, this is the opportunity and the task that FACEs us. The time for action is now. Let us get to work.

Thank You.

 

 

CARICOM Private Sector Organization (CPSO) Welcomes Afreximbank’s US$5 Billion Commitment to Strengthen CARICOM Trade and Investment

By Africa Union-CARICOM Trade, CARICOM, news, Press Release, pressrelease, TradeNo Comments

Bridgetown, Barbados – The CARICOM Private Sector Organization (CPSO) has welcomed the African Export-Import Bank’s (Afreximbank) decision to increase its investment commitment to the Caribbean from US$3 billion to US$5 billion, describing the move as a major step toward expanding trade, investment, and economic cooperation between the Caribbean Community and the African Union (AU).

The announcement was made during the engagement between President of Afreximbank, Dr. George Elombi and CARICOM Heads of Government during the 50th Regular Meeting of the Conference held in Saint Kitts and Nevis on February 24, 2026. During that meeting, Dr. Elombi outlined Afreximbank’s strategic vision for deepening economic engagement with the Region and supporting initiatives aimed at expanding trade and investment flows.

“This expanded commitment by Afreximbank represents a major milestone in strengthening economic cooperation between the African Union and the Region,” said Dr. Patrick Antoine, Chief Executive Officer and Technical Director of the CPSO. “For the private sector in CARICOM, it offers the potential for realising expanded trade opportunities, deepening investment partnerships, and strengthening the productive capacities of private sector and infrastructure projects between CARICOM and the AU.”

Among the priority initiatives highlighted was the development of the Afreximbank Caribbean Trade Centre in Bridgetown, Barbados, which will also serve as the Bank’s regional office along with conference facilities and a five-star hotel. Construction of the facility is expected to begin this year.

Afreximbank has also indicated its willingness to support the establishment of a Caribbean Export-Import Bank, which is an institution envisioned to strengthen the Region’s capacity to finance trade and investment while contributing to a more robust regional financial architecture.

In addition, the Bank has been working with regional central banks to develop a CARICOM Payment and Settlement System (CAPSS), which could facilitate cross-border transactions through a regional clearing system and reduce reliance on hard currencies.

Recognizing the importance of physical connectivity in supporting trade expansion, Afreximbank further signaled its readiness to assist with financing initiatives aimed at strengthening air and maritime links between the Caribbean and the African continent, which remain critical to unlocking the full potential of AU-CARICOM trade and investment.

The CPSO, Afreximbank, and the Africa Business Council previously signed a Memorandum of Understanding (MOU) for the establishment of the African Caribbean Business Council (ACBC), a formal platform designed to facilitate structured private sector cooperation between the two regions. Through the ACBC, the Parties aim to advance trade and investment forums, business-to-business matchmaking, investment facilitation, financial sector cooperation, and capacity-building initiatives aimed at strengthening small and medium-sized enterprises, women and youth entrepreneurs. The framework also provides a mechanism to deepen institutional cooperation and explore longer-term opportunities for expanded AU-CARICOM trade and investment cooperation.

“The CPSO looks forward to deepening its collaboration with Afreximbank and the Africa Business Council, working alongside regional governments, financial institutions and private sector stakeholders to advance the implementation of these initiatives, including through the Africa Caribbean Business Council,” Dr. Antoine stated. “Our Organization remains committed to ensuring that the opportunities emerging from the strengthened AU-CARICOM partnership translate into concrete outcomes for regional businesses, expanded trade flows, and sustainable economic growth across the Region.”

About the CARICOM Private Sector Organization:

The CARICOM Private Sector Organization (CPSO) is the most recently accredited Associate Institution of the Caribbean Community. The CPSO is a ‘Service Organization’ to mobilize and advance private sector participation in CARICOM, with a mandate to contribute to the full implementation of the CARICOM Single Market and Economy (CSME). The Membership of the CPSO is comprised of private sector entities operating in the CARICOM space, including Micro, Small and Medium Sized Enterprises (MSMEs).

For media enquiries, please contact:

The CPSO Secretariat

Email: info@thecpso.org | website: www.thecpso.org

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.

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.