news – CPSO

Africa Union Exports to CARICOM Could Surpass US$1 Billion

By Afiya RayAfrica 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, 20^th 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 Afiya Raynews, 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

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

By Afiya Raynews, 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

Belize Businesses Unite to Support Jamaica After Hurricane Melissa

By Afiya RayBelize, Hurricane Melissa, Jamaica, news, Press Release, Relief EffortNo Comments

Bridgetown, Barbados – The CARICOM Private Sector Organization (CPSO) continues to mobilize regional private sector support for hurricane relief efforts in Jamaica following the devastating impact of Hurricane Melissa.

One CPSO member, Caribbean Sugar Refinery, a growing Caribbean company with operations in Belize, Trinidad and Tobago, and Jamaica, has stepped forward to leverage its established logistical network between Belize and Jamaica to facilitate the free transport of essential aid. This facilitation of logistics spurred an immediate and generous response from Belizean and other regional businesses.

Coordinated by Caribbean Sugar Refinery and supported by the Consulate of Jamaica in Belize, the initiative drew contributions from several organizations such as Mennonite Aid for Central America (MACA), Mirab Group, National Aggregates Ltd, Caribbean Paper Company Limited, Fabrigas Belize Limited, Vista Real Estate Limited, McNab Strategies, Island Magic Belize, Westrac Limited, and Mr. Darrell Smith. Together, these partners exemplified the strength of regional unity, underscoring the enduring bonds of solidarity and shared responsibility that define the Caribbean Community, especially in times of crisis.

As a result of their contributions, a 40-foot container carrying 22 tons of essential household staples including bottled water, toilet paper, corn, beans, rice, flour, and baking powder has been assembled. The shipment is expected to support approximately 25,000 meals and provide vital hygiene supplies to communities most affected by the hurricane.

Commenting on the strong stakeholder response, Ambassador Daniel Gutierez, of Caribbean Sugar Refinery, stated: “As members of one Caribbean family, we must stand together in moments of adversity. Following this initial dispatch, we will continue engaging regional businesses to explore additional aid. Jamaica needs us now, and we are proud to contribute. We also extend our gratitude to the logistical partners in Belize and Jamaica whose support made this relief effort possible.”

Commending the initiative, Dr. Patrick Antoine, CEO and Technical Director of the CPSO said: “This is Caribbean cooperation at its best. The CPSO is proud of the response by the regional private sector in support of relief efforts and the response from our partners in Belize. Acts like these reinforce our shared commitment to regional resilience, solidarity, and recovery.”

The shipment is scheduled to arrive in Jamaica next week, where local partners will coordinate distribution to communities in need.

November 11, 2025