pressrelease

CARICOM Heads of Government and Regional Private Sector Agree Concrete Actions on Affordability at Second High-Level Breakfast Dialogue

By Afiya Raynews, Press Release, pressrelease, Tariffs, TradeNo Comments

CASTRIES, Saint Lucia — July 9, 2026. The second High-Level Breakfast Dialogue between the OECS Business Council (OBC), the CARICOM Private Sector Organization (CPSO) and CARICOM Heads of Government was convened at Sandals Grande, Saint Lucia, under the theme “Meeting the Affordability Challenge: Toward a Proactive Agenda for Member States and the Private Sector” on July 6^th 2026, in the margins of the 51^st Regular Meeting of the Conference of Head of Government of the Caribbean Community.

The Dialogue brought together more than one hundred and twenty senior representatives of the CARICOM private sector with Heads of Government from eleven (13) Member States, the Caribbean Congress of Labour (CCL), development finance partners—including the Inter-American Development Bank (IDB), the Caribbean Development Bank (CDB) and the CARICOM Development Fund (CDF)—and other regional institutions.

Against the backdrop of rising cost-of-living pressures across the Community, participants examined practical measures to improve affordability by removing barriers to intra-regional trade, reducing transportation and logistics costs, diversifying imports, mobilising regional investment capital, strengthening tourism linkages, and addressing the disproportionate negative impacts (DNI) of the International Maritime Organization’s Net-Zero Framework (NZF) on CARICOM Small Island Developing States (SIDS).

The discussions reflected a strong consensus that regional governments, the private sector and organised labour must move beyond policy dialogue to coordinated implementation, supported by clearly defined mandates, timelines and measurable outcomes.

Key Outcomes and Takeaways

Regional Travel and Maritime Transport: Dominating the morning’s discussions was the urgent need to resolve the Region’s inadequate transport capacity, which continues to constrain the CSME commitment to the free movement of people and goods. The Session agreed on a September 2026 deadline for creation of the enabling regulatory framework for the mutual recognition of insurance, licences and road taxes, essential to finalising arrangements for the regional ferry service to be operated by the private sector. In the interim, Heads determined that an earlier pilot ferry initiative will be pursued, utilising a vessel the Government of Trinidad and Tobago has expressed its willingness to deploy to launch the service. The Session also registered satisfaction at the commencement of service by Executive Air Cargo, which has begun transporting agri-food products among Member States.

Non-Tariff Barriers: Turning to the barriers within the Region’s own control, the Session adopted a ‘pairwise’ model of direct engagement between the Member States implementing the fifty-seven (57) non-tariff barriers (NTBs) identified by the private sector as suppressing intra-regional trade, and the Member States affected by them. The model will be implemented under the leadership of a Lead Head of Government, with the active participation of the private sector and the relevant ministerial and regulatory institutions, and with implementing and affected States committing to time-bound remedial actions.

Import diversification: The Breakfast Meeting benefitted from a presentation of technical work on reducing the cost and increasing the benefits, of diversifying and de-risking CARICOM’s imports. It noted that the Region stands to realise expected savings of circa USD 2.0 billion from the diversification of a component of its non-fuel imports alone and recognised the scope for still greater savings from reduced fuel imports as the Region transitions to renewables. The CPSO was urged to undertake further work on the fuel import-energy transition nexus, as a matter of immediate priority.

Short-Term Cost-of-Living Measures: The Session discussed short-term measures to ease the cost-of-living pressures bearing on CARICOM households. Prime Minister Mottley made an explicit call for a formal tripartite compact among Governments, the private sector and organised labour, covering a basket of essential products. She also called on the private sector to accept lower profits on essential goods to ease the cost of living for CARICOM citizens. The need for further discussions with the contribution of ideas from all quarters was recognized.

Mobilising regional savings: The Session then turned from costs to capital, endorsing the urgency of creating a bridge between the surplus liquidity held by regional financial institutions and strategic investment opportunities in areas such as desalination, battery storage, solar, wind and geothermal power generation, and port facilities. Recognising that the people of CARICOM remain largely unaware of these opportunities, the Session endorsed their publication on a common regional platform as a necessary first step. Investment opportunities in agriculture were singled out for listing on the platform, and a request was made for a compendium of CARICOM-wide agricultural investments to be presented at the next High-Level Breakfast Forum.

Tourism linkages: In the same spirit of building regional value chains, the Session renewed its support for completing the Tourism Linkages Project — mandated by the Forty-Eighth Regular Meeting of the Conference of Heads of Government — to strengthen the connections between tourism and regional agriculture, manufacturing and services.

Climate action and the IMO Net-Zero Framework: Closing the substantive agenda, the regional private sector reaffirmed its commitment to climate action, decarbonisation and the reduction of greenhouse gas (GHG) emissions as essential to the sustainable development of CARICOM Member States. At the same time, the Session expressed broad support for a cautious regional approach to implementation of the IMO Net-Zero Framework (which aims to impose penalties on shipping failing to convert fleets to net-zero carbon-emitting fuels), citing its disproportionate negative impacts on Small Island Developing States, consumers and the tourism industry—particularly the cruise sector. Participants also endorsed extending the CPSO’s import-diversification work to quantify the import savings and wider economic benefits associated with the transition to renewable energy, with an update to be presented to the next Meeting of the Council for Finance and Planning (COFAP).

Implementation: To carry the agenda forward, the Session agreed to establish Working Groups operating with predefined timelines and measurable deliverables, ensuring that the commitments arising from the Session are implemented and monitored for accountability. CPSO will work closely with the CSME Prime Ministerial Sub Committee to follow up on this structure.

Shared On-going Commitment: Shared Ongoing Commitment: The Session concluded with a shared determination that the Caribbean’s affordability challenge must be addressed through practical, time-bound and results-oriented action, and that the enduring partnership among governments, the private sector and organised labour will remain central to delivering meaningful benefits for the people of the Community. In closing, CPSO Chairman Gervase Warner thanked the Heads of Government and private sector representatives for their honest engagement and collaborative contributions, observing that the stage has been set for continuing collaboration among the private sector, Heads of Government and organised labour. He committed the CPSO to following up on delivery of the work programme identified during the Session.

— END —

Notes to Editors:

The CARICOM Private Sector Organization (CPSO) is an Associate Institution of the Caribbean Community (CARICOM), representing the regional private sector in advancing the CARICOM Single Market and Economy (CSME).

The OECS Business Council (OBC) is the representative body of the private sector of the Organisation of Eastern Caribbean States.

The First High-Level Breakfast Dialogue was convened in July 2025 in the margins of the 49^th Regular Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM).

July 10, 2026

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

By Afiya RayAgriculture, 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 20^th 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.

May 22, 2026

IICA initiates the CDB-funded intervention for AgriMSE Business and Regional Market Integration with support from CARICOM Private Sector Organization

By Afiya Raynews, Press Release, pressreleaseNo Comments

The Inter-American Institute for Cooperation on Agriculture (IICA), introduced the AgriMSE Business Development and Regional Market Integration Project during a virtual event held on March 11, 2026. This project is funded by the Caribbean Development Bank (CDB). It is designed to strengthen the competitiveness, operational efficiency and market access of Agricultural Micro and Small Enterprises (AgriMSEs) in Antigua and Barbuda, Dominica, Grenada, Saint Lucia and Trinidad and Tobago.

In opening the event, Diana Francis, Representative of the IICA Delegation in Trinidad and Tobago underscored the importance of strengthening AgriMSEs as key drivers of agricultural value chains, rural livelihoods and food security. Francis emphasized that integrating AgrMSEs into the economy and markets required strong and continuous partnerships among regional institutions, development partners, the private sector, and most importantly, the consumers. The engagement and support from distribution, marketing and logistics firms will also be critical to ensure that products from the AgriMSE sector can be successfully moved within domestic markets and to markets across the region and abroad.

While the initiative is being implemented through three specialized consultancy streams designed to deliver targeted technical support to participating enterprises, IICA will ensure team integration and coordination and provide technical backstopping, stakeholder outreach and engagement support. These consultancy streams include EconoTech Ltd., leading on AgriMSEs business and production operational efficiencies for scale-up and market access, Jai Rampersad, leading on intra-regional marketing and export facilitation, and GBest Consulting, leading on AgriMSE credit worthiness, readiness and financing accessibility. Working inclusively with national entities, these workstreams are expected to improve enterprise performance, enhance export readiness and facilitate greater access to financing and investment opportunities for AgriMSEs in the participating countries.

Complementary initiatives funded by the European Union were also presented by Janet Lawrence, Agricultural Health, Food Safety and Quality Specialist for the Caribbean at IICA, Barbados. Lawrence noted that the European Union has been a longstanding partner in supporting agricultural development in the Caribbean, providing funding for projects addressing sanitary and phytosanitary (SPS) issues and related capacity building initiatives across the region for more than a decade. She highlighted that the EU projects complement the IICA-CDB project and will support stakeholders across the wider Caribbean region. These initiatives will provide additional resources to support not only AgriMSEs themselves but also policymakers and institutions responsible for strengthening the enabling environment necessary for agricultural enterprises to thrive. The EU projects also focus on areas such as agricultural health, food safety, quality assurance and regulatory frameworks, all of which are essential to enabling AgriMSEs to compete effectively in regional and international markets.

Patrick Antoine, Chief Executive Officer and Technical Director of the CARICOM Private Sector Organization (CPSO) also addressed participants and emphasized the importance of stronger collaboration between small agricultural enterprises and larger regional firms to address common constraints related to scale, logistics and processing. He shared that the CPSO is establishing a Regional Agribusiness Working Group which will support the continuation of the project’s objectives beyond the life of the consultancy.

“The intention behind the Regional Agribusiness Working Group is to bring together the experience, networks and technical capabilities of larger regional enterprises to directly support the growth of AgriMSEs. Through collaboration in areas such as shared processing, logistics and packaging, we can help smaller enterprises overcome scale constraints and position themselves more effectively for regional and even international markets,” Antoine said.

Speaking on the growing engagement between Caribbean and African private sectors, Antoine went further to share that the African Export Import Bank (Afreximbank) recently increased its investment commitment to the Caribbean from US$3 billion to US$5 billion, signaling expanded financing opportunities for regional enterprises. He noted that the Working Group will allow the CPSO to leverage partnerships such as these, alongside tools like the Regional AgriMSE Database being developed under the project, providing targeted support to enterprises beyond the project’s lifespan while contributing to the CARICOM 25 by 2025 plus 5 food security agenda.

The AgriMSE Business Development and Regional Market Integration Project will be implemented over an 18–24-month period and will engage agricultural enterprises in Antigua and Barbuda, Dominica, Grenada, Saint Lucia and Trinidad and Tobago through diagnostic assessments, technical support programmes and market development initiatives. According to an AgriMSE participant, the introductory session was interesting and provided hope and an extra sense of purpose, offering a combination of all the things that AgriMSEs have been asking for in one place.

Francis emphasized “This has to be seen as more than just a project. While it is similar to several past and possibly future projects, it is overpoweringly focused on ensuring that agri-food products from micro and small agribusinesses (AgriMSEs) meet the quality and price competitive requirements to enter and establish presence in domestic and export markets.” She further stated that the project also intends to strengthen the base for continued organized and collaborative engagement in support of AgriMSEs through the IICA-CPSO partnership and other like-minded collaborators.

AgriMSEs interested in participating in the project, including those who may have missed the launch session, are encouraged to contact the project team to ensure they are included on the mailing list for upcoming project activities at agrimse.exchange@iica.int.

This article was originally published by the Inter-American Institute for Cooperation on Agriculture (IICA). Access Here.

March 27, 2026

CPSO Sets New Standard for Measuring Private Sector Action on NCDs

By Afiya Raynews, Press Release, pressreleaseNo Comments

Launch of Reporting Framework to Track and Scale Business-led Health Initiatives

Bridgetown, Barbados – The CARICOM Private Sector Organization (CPSO) has launched the Region’s first Reporting Framework for Private Sector NCD Reduction Initiatives, marking a major step forward in coordinating and scaling business-led responses to Non-Communicable Diseases (NCDs) across CARICOM.

Unveiled during a virtual session on March 24, the Framework provides a structured system to document, measure, and amplify private sector contributions to reducing NCDs—one of the Caribbean’s most pressing public health challenges.

NCDs account for approximately 78 percent of all deaths in the Caribbean, placing sustained pressure on health systems, economic performance, and workforce productivity. Until now, there has been no unified mechanism to capture and assess the private sector’s role in addressing this crisis. The Reporting Framework changes that.

“For too long, the private sector has been viewed as a bystander in the NCD crisis,” said Dr. Patrick Antoine, CEO and Technical Director of the CPSO. “We are making it clear that we are active partners in this fight. This Framework is yet another down payment to ensure that this unfortunate perception ends today. The Framework is a decisive step toward demonstrating our commitment and ensuring that our contributions are visible, measurable, and impactful.”

Across CARICOM, businesses have already been investing in employee wellness programmes, product reformulation, expanded health benefits, mental health initiatives, and community-based education and outreach. However, much of this work has remained fragmented and underreported.

The Reporting Framework addresses this gap by enabling organizations—regardless of size or sector—to systematically track their initiatives, measure outcomes, and share best practices across Member States. It also creates opportunities to scale successful interventions at the regional level.

“What gets measured gets managed, and what gets reported gets recognised,” Dr. Antoine added. “For the first time, companies across the Region will have a standardized approach to documenting and strengthening their contributions to NCD reduction.”

CPSO Chairman Gervase Warner underscored the critical role of the private sector in advancing public health outcomes.

“Businesses have a direct responsibility to the health and wellbeing of their employees and customers,” he said. “By taking the lead and demonstrating our efforts, we position ourselves as essential partners in tackling this challenge across the Region.”

Chairman Warner noted that shifting consumer preferences toward healthier products and lifestyles present both a public health opportunity and a strategic business advantage, particularly as companies adapt to evolving regional and global markets.

The Framework was developed under the leadership of Dr. Alison Gajadhar-Foster, Technical Consultant, with guidance from the CPSO Private Sector Working Group on NCDs.

CPSO is encouraging widespread adoption of the Framework and has reaffirmed its commitment to working closely with the CARICOM Secretariat, regional institutions, and civil society partners to strengthen health outcomes and build a more resilient Caribbean Civilization.

Please click the following to access the CARICOM Private Sector Reporting Framework: https://survey.kma.consulting/zs/NaM3ws.

Should you require any additional support, please contact us at info@thecpso.org.

-END-

March 25, 2026

CARICOM Private Sector Organization (CPSO) Applauds Adoption of CARICOM Industrial Policy and Strategy (CIPS)

By Afiya Raynews, Press Release, pressreleaseNo Comments

Bridgetown, Barbados — The CARICOM Private Sector Organization (CPSO) hailed the adoption of the CARICOM Industrial Policy and Strategy (CIPS) 2035 by the Caribbean Community (CARICOM) Heads of Government at their Fiftieth Regular Meeting in St. Kitts and Nevis in February 2025 as a major milestone for the Region. The CPSO noted that this framework could strengthen industrial development, improve competitiveness, increase intra-regional trade and create greater economic opportunities throughout CARICOM.

The Policy provides a regional framework to support private sector-led industrial growth, encourage innovation and strengthen linkages across industries within CARICOM. This coordinated approach aims to position the Region as a more competitive producer of goods and services within global value chains.

The CPSO, as the representative regional private sector organization, played an active role in the development of the Policy through its participation in regional consultations and technical processes that informed the Policy. The Organization contributed perspectives from the regional business community and worked alongside the CARICOM Secretariat, Member States, and other regional institutions to help ensure that the Policy reflects the realities, priorities, and opportunities facing CARICOM’s private sector.

Dr. Patrick Antoine, Chief Executive Officer and Technical Director of the CPSO, noted that the development of the Policy represents an important milestone for the Region. He stated that it also provides an important framework for CARICOM to take a more deliberate and coordinated approach to industrial development. This is a first and very important step toward strengthening the Region’s productive sectors and unlocking new opportunities for CARICOM businesses. For the private sector, the focus must now be on translating this Policy into practical initiatives including operationalization of the Competitiveness Council to expand regional supply chains, support innovation, and enable regional firms to compete more effectively in global markets.”

The CPSO also commended the leadership of the President of Suriname, who holds the responsibility for Industrial Policy in the CARICOM Quasi-Cabinet, as well as the Government in guiding the process for the development, finalization and approval of the Industrial Policy. The CPSO remains committed to collaborating with the CARICOM Secretariat, Member States and regional partners to ensure that the objectives of the CIPS urgently translates into tangible outcomes for CARICOM.

March 19, 2026

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

By Afiya RayAfrica 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

March 9, 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

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

By Afiya RayAfrica 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 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