Suriname, which holds responsibility for the Industrial Policy in the CARICOM Quasi Cabinet, is spearheading work towards its completion to present it to a Special Meeting of the Council for Trade and Economic Development (COTED) in October 2025. The work to be carried out in time for that meeting includes deeper engagements with key stakeholders in the business community.
Already, consultations have been held with stakeholders in St. Vincent and the Grenadines, while others are planned for later in August.
Ambassador David Prendergast, Director, Sectoral Programmes at the CARICOM Secretariat, said that there is a strong demand for the Policy from the Region’s private sector. The Policy is grounded in the Revised Treaty of Chaguaramas and is intended to promote the development of entities ranging from micro to large businesses.
“Essentially, [this policy] seeks to boost productivity, to create more opportunities for employment across the Region, to use our resources optimally, and to connect us into global value chains which are critical for production with the ultimate objective of improving the standard of living of our people across the Region,” Amb. Prendergast explained.
Industrial Policy development consultant to the CARICOM Secretariat, Mr. Sandiford Ruel Edwards, said given the current global environment, the CARICOM Industrial Policy and Strategy is well-positioned to make a substantive contribution to renewed economic diversification and cultivating indigenous growth and prosperity by addressing both established industrial sectors and emerging innovative fields and technologies.
“It is important to acknowledge that this industrial policy is not a universal remedy; historical global initiatives have sometimes resulted in notable failures, and there remain valid concerns regarding government intervention in market selection. This strategic framework proposes a collaborative model between regional governments and the private sector, targeting 12 industrial ecosystems alongside five cross-cutting enablers,” he said.
The 12 eco-systems at the foundation of the Policy are: Agri-Food, Fisheries and Processing; Construction; Culture and Creative Industries; Digitalisation; Education and Human Capital Development; Energy; Health and Wellbeing; Mobility and Transportation; Micro, Small and Medium-sized Enterprises; Non-Food Manufacturing; Research, Development and Innovation; and Tourism.
The cross-cutting enablers are Financing, Competition Policy and Consumer Protection, Intellectual Property, Standards and Environmental Stewardship. ]]>
Outgoing Chair of the Caribbean Community (CARICOM), Prime Minister Mia Mottley of Barbados, closed out her six-month tenure with a rallying cry for regional solidarity and action in the face of global uncertainty.
Speaking on July 6 at the opening of the 49th Regular Meeting of the Conference of Heads of Government in Montego Bay, Jamaica, where Caribbean leaders first met in 1947 to lay the foundations of regional integration, Prime Minister Mottley reflected on her journey from a “young romantic idealist” and “fervent believer of the regional integration movement” to a more seasoned, though still hopeful, advocate for CARICOM solidarity.
“Our Community has perhaps seen more challenges in these past seven years than at any time since independence,” she said. “But if ever there was a time for regional solidarity, it is absolutely now.”
Highlighting several achievements in trade and economic cooperation during her tenure, the Outgoing Chair said that CARICOM is now poised to finalise long-awaited revisions to the Common External Tariff (CET) and Rules of Origin, crucial trading instruments that protect regional industry while lowering the cost of essential goods for production.
Commending the Council for Trade and Economic Development and the Community Council for completing the work on these critical tools for intra-regional trade, she said now is the time for political decision on what items can see reduced tariff rates without undermining regional production.
Prime Minister Mottley also commended the Regional Private Sector Organisation (CPSO) for responding to the trade tensions stemming from U.S. actions on Chinese-made shipping vessels, including a 500-member strong participation in a Zoom discussion.
Through advocacy with the U.S. government involving CPSO and the CARICOM Secretariat, the Community secured a temporary stay of the imposition of fees exceeding US$1 million per US port call. This stay reduced the risk of trade and supply-chain disruption and increased inflation in the Region.
]]>Key outcomes of the meeting included progress on the draft Regional Industrial Policy; agreements to move forward with the revisions to CARICOM’s main trading instruments, the Common External Tariff (CET) and Rules of Origin, and strategic responses to emerging international trade measures, particularly the impact of the U.S. “America First” policies.
In an interview, Assistant Secretary-General for the CARICOM Single Market and Trade, Ambassador Wayne McCook said that Ministers received a report on the draft Regional Industrial Policy, which lays the foundation for increased productivity, competitiveness, and deeper linkages of economic sectors among Member States.
“Ministers were quite interested in the proposals and recommendations that were beginning to take shape. What has been set out is a comprehensive policy that covers all the critical areas of regional industry,” Ambassador McCook stated.
This policy, led by the Directorate of Economic Integration, Innovation and Development, with the President of Suriname championing the initiative, is designed to streamline resources and enhance industrial capacity.
Expressing optimism that the draft policy “will be finalised very soon,” Ambassador McCook said that once in place, it will better position CARICOM to benefit from existing and future trade arrangements.
CARICOM’s CET and Rules of Origin Gaining Momentum
CARICOM’s efforts to make the CET and the Rules of Origin fit for purpose gained momentum as trade ministers agreed to begin work on implementing the revised CET regime from January 2026.
The CET is a standardised tariff rate that CARICOM applies to imports from outside the region, while CARICOM Rules of Origin indicate when a particular product made within the CARICOM Single Market, qualifies for duty-free treatment. At the meeting, trade ministers provided favourable consideration to specific requests by Member States for CET exemptions and adjustments.
Describing the Rules of Origin and CET as the “real engine of the Single Market and Trade in Goods regimes to promote and support intra-regional trade,” Ambassador McCook said that the updates better reflect the ways in which regional producers and manufacturers make and trade their goods.
He said that these reforms will coincide with the implementation of the Harmonised System Code that the World Customs Organisation will introduce for 2027. Customs agencies, trade ministers, and finance departments are gearing up for the significant administrative work required over the next year to ensure that both transitions are successful, the Assistant Secretary-General stated.
Review of Potential Impact of “America First” Trade Policy
In the realm of external trade, COTED received an update on ongoing work to assess the implications of the evolving U.S. trade stance under its “America First” policy. An Expert Working Group, drawn from the CARICOM Secretariat, CARICOM Private Sector Organisation, and the Caribbean Development Bank, is reviewing the potential impact of the tariff changes including the 10 % baseline tariff applied across the board on regional exports to the U.S.
“Pooling our resources, we expect to be able to deliver the best possible analysis and advice on the way forward in addressing these new tariffs and related measures. The U.S. remains the Region’s largest trading partner overall, so this work is significant,” said the Assistant Secretary-General.
He noted that the group is working with alacrity to present the findings before the 49th Regular Meeting of the Conference of Heads of Government of CARICOM, which is scheduled from July 6-8 in Montego Bay, Jamaica. Preceding that meeting, the report will be tabled for the Prime Ministerial Sub-Committee on External Trade Negotiations.
Additionally, trade ministers approved CARICOM’s negotiating strategy for upcoming bilateral trade talks with Colombia and reviewed the preparations for the 2026 Ministerial Conference of the World Trade Organization (WTO).
“We know that there are significant challenges that the WTO has to contend with, so Ministers looked at the landscape ahead and will be preparing to instruct our delegations to the Ministerial Conference in ways that will advance the Community’s interest in the multilateral trading system,” Ambassador McCook stated.
“Two years ago, we could never have imagined the turmoil with which the global trading system and the global economy are now confronted. Our business community is reeling from cancelled export orders, the imposition of new and unexpected tariffs, and unprecedented uncertainties,” Minister Symmonds, the Minister of Foreign Affairs and Foreign Trade of Barbados stated.
He was at the time addressing the opening of the Sixtieth Regular Meeting of COTED at the CARICOM Secretariat Headquarters in Georgetown, Guyana on Tuesday, 11 June.
Minister Symmonds called on COTED to take decisive action to tackle urgent trade and economic issues, stressing the importance of ensuring that CARICOM’s exports enter global markets with minimal barriers.
“The question of whether our exports can enter markets with the least possible barriers and whether imports reach us in a timely, safe, and affordable manner, will all impact the performance of our economies and determine whether we thrive or struggle as a Community.”
CARICOM trade ministers met from 10-11 June to address an agenda dealing with the Caribbean Single Market and Economy (CSME), proposed implementation of the revised Common External Tariff (CET), progress of the Sectoral Working Group reviewing CARICOM Rules of Origin, and reports from the Monitoring Mechanisms on Sugar, Cement, and Rice.
Key external trade issues, including the impact of the America First Policy on CARICOM, negotiations on CARICOM-Colombia trade agreements, and Belize’s partial scope agreement with El Salvador, also received the Ministers’ attention.
Regional standards, report on the industrial policy, and public procurement mechanisms were also on the agenda.
]]>I want to begin by thanking the Secretary-General and CARICOM Secretariat as a whole, for the excellent arrangements in place for us to gather here at the Secretariat and virtually.
Two years ago, we could never have imagined the turmoil that the global trading system and the global economy are confronted with. Our business community is reeling from cancelled export orders, the imposition of new and unexpected tariffs and unprecedented uncertainties.
It is in this context that today I wish to underscore the important role assigned to the COTED as the Council that addresses the Single Market and trade and economic development issues that are at the forefront of our Community’s concerns. Trade and economic development issues were and will always be at the top of this Community’s development agenda as a grouping of small states.
The question of whether our exports can enter markets with the least possible barriers and whether imports reach us in a timely, safe, and affordable manner will all impact the performance of our economies and determine whether we thrive or struggle as a Community. These considerations must be uppermost on our minds today as we take these critical decisions in our region’s interest.
Excellencies, our meeting will consider the actionable recommendations of our Senior Officials who met on 7-8 May 2025. I am confident that all the reports from the Preparatory Meeting of Officials and other documentation have been reviewed, and delegations are briefed and ready to work. We are convened here at a moment of tremendous global and geopolitical tension and unease. As we attempt to navigate these turbulent waters, I want to acknowledge and express gratitude to Dr. Carla Barnett, Secretary-General CARICOM; Amb Wayne McCook, Assistant Secretary-General, CARICOM Single Market and Trade; Dr. Wendell Samuel, Assistant Secretary-General Economic Integration, Innovation and Development; General Counsel Lisa Shoman, upon whom I will rely on to assist us during the course of our deliberations.
Excellencies, we have a range of matters for discussion/decision. We will take note of the status of work on the development of COTED Draft Rules of Procedure emanating from the Open-ended Working Group (OEWG). With respect to implementation of the CSME, we have work to do on the trade in goods regime that is a mainstay of COTED’s work. In this regard we will consider:
– Requests for suspensions of the CET received by the Secretary General between 27 May and 3 June 2025.
– Outcomes of regional consultations on the Review of Community RoO and on the Use of specifications in applications for suspensions of the CET and the granting of safeguard certificates.
– The implementation of the revised CET regime.
– We will also consider important initiatives of the CSME which need to be advanced with urgency with respect to Free movement of all CARICOM nationals; the Community’s Competition Policy regime, the Regional Industrial Policy and strategy, and the assessment of the Impacts and Potential Benefits of the CSME.
– On External Trade Relations, we will consider multilateral developments in the WTO; key developments in US trade policy that impact CARICOM trade and economic prospects; regional preparations for the resumption of negotiations with Colombia; and Belize’s request for certification and approval of its Partial Scope Agreement with El Salvador.
– On Standards, we will consider CROSQ’s request for approval of two Final Draft CARICOM Regional Standards and an update on the ongoing conversations regarding the Front of Package Labelling (FOPL).
Additionally, there are several matters for information/update regarding:
– Implementation of the CARICOM Interactive Marketplace and Suspension Procedure (CIMSuPRO)
– Implementation of the Protocol on Public Procurement in the Community
– Progress with respect to the programme of support measures for implementation of Article 164 of the Revised Treaty, among other things.
Excellencies, we have a full agenda. I intend to keep our deliberations focused – agenda item by agenda item. I encourage brief and focused interventions directed to the issues under consideration. Above all things, let us be ready to take bold and decisive action on matters that require clear direction from us as Ministers in the collective interest of this Region.
]]>Speaking at the opening of the 60th Regular Meeting of the Council for Trade and Economic Development (COTED) on June 10, Dr. Barnett emphasised the need to strengthen regional production and seize new trade opportunities.
“The recent tariff shocks are a stark reminder of the need to diversify our trade and economic relations. We must redouble our efforts to deepen existing markets, explore new ones, and develop new partnerships if the Region is to advance its goals of economic growth and economic relations,” she stated.
Highlighting ongoing trade discussions with countries including Colombia under the CARICOM-Colombia Agreement on Trade, Economic and Technical Cooperation, Dr. Barnett called for focused attention on advancing these negotiations.
She also underscored the importance of removing barriers to intra-regional trade and enhancing support for entrepreneurship.
“We need to promote regional production and expand intra-regional trade by updating policies and practices to support entrepreneurship and make trade and business development easier. We also have an imperative to address the impediments to trade and remove longstanding issues of ‘non-compliance’ from the agenda,” Secretary-General Barnett told the trade ministers and delegates.
Welcoming a report on the Regional Industrial Policy that will be tabled at the meeting, she described the Policy as a crucial step in strengthening regional integration and urged COTED to finalise and ensure its implementation to drive regional economic growth.
The Secretary-General also encouraged greater collaboration among CARICOM institutions and stakeholders, including partnerships with the Caribbean Development Bank (CDB) and the CARICOM Private Sector Organization (CPSO). She emphasised the need to break down silos and better utilise the resources available to the Community.
“Time is too short, and resources are too scarce for us to continue to work in silos when collaboration and joint effort can save resources, both human and financial, and deliver better results,” she stated.
The CARICOM Secretary-General, Dr Carla Barnett and the COTED Chair will deliver remarks at the opening session of the Meeting.
The agenda of the Meeting is packed with critical trade matters including the proposed implementation of the revised Common External Tarriff (CET), progress of the Sectoral Working Group reviewing CARICOM Rules of Origin and reports from the Monitoring Mechanisms on Sugar, Cement and Rice.
CARICOM ministers will also address compliance with the Revised Treaty of Chaguaramas and decisions of COTED as CARICOM works to enhance the operations of the CARICOM Single Market and Economy (CSME).
Other key discussions will centre around a draft Industrial Policy and Strategy for 2025-2030, and issues related to the free movement of Community nationals. An update will also be provided on a recently commissioned consultancy to assess the impact and potential benefits of the CSME. This study is being funded by the European Union under the 11th EDF.
Additionally, the Council will review several external trade matters, including developments at the World Trade Organisation, implications of the America First Trade Policy for CARICOM trade and economic prospects, and negotiations to expand preferential market access under the Agreement on Trade, Economic and Technical Cooperation between CARICOM and the Government of Colombia.
Tune in the view the opening session of the meeting on Tuesday June 10, 2025.
Kindly note the details below:
WHAT: Opening – 60th Regular Meeting of the Council for Trade and Economic Development
WHEN: Tuesday 10 June 2025 | 10.00 am AST
Virtual access: https://www.youtube.com/watch?v=Eu8qozU2cJE
About COTED:
The CARICOM Council for Trade and Economic Development (COTED) is responsible for advancing trade and economic growth within the Community. It oversees the operation of the Single Market and Economy in accordance with the Revised Treaty of Chaguaramas. Additionally, the Council evaluates, promotes, and establishes measures to enhance production, quality control, and marketing of regional industrial and agricultural commodities to ensure their competitiveness on the global stage.
]]>The Hon. Sir Molwyn Joseph, Minister of Health, Wellness, Environment and Civil Service Affairs of Antigua and Barbuda, chaired the one-day meeting, which deliberated on regional environmental and natural resources governance, and sustainable ocean-based economic development.
Other subject areas the Ministers discussed included strengthening biodiversity management, and the Community’s participation in upcoming meetings of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC).
The Chairman and other Ministers spoke with the CARICOM Communications Unit about the key take-aways of the Meeting.
Listen:
The Policy Framework establishes the blueprint for cooperation within CARICOM, providing guidelines for planning the protection, conservation and sustainable use of the environment and natural resources within the Community and its Member States. The document creates a basis for effective environmental and natural resources governance in support of the objectives of the Revised Treaty of Chaguaramas, and the effective functioning of the CARICOM Single Market and Economy (CSME).
It was launched at the 118th Special Meeting of the Council for Trade and Economic Development (COTED) that was held 30th April in Antigua and Barbuda. The Ministerial meeting focused on the environment and sustainable development matters.
In the margins of Meeting, the Communications Unit of the CARICOM Secretariat spoke with Dr. Clarke about the importance of the document, and other key matters such as the protection of the Region’s ocean space.
]]>Sir Molwyn Joseph, Minister of Health, Wellness and the Environment of Antigua and Barbuda, delivered the charge during remarks at the opening of the virtual Second Annual Ministerial Post-Conference of the Parties (COP) Debriefing, which he chaired on 24 January. Minister Joseph is Chair of the Council for Trade and Economic Development (COTED) on Environment and Sustainable Development.
Over 100 delegates attended the half-day debriefing, including 13 Ministers with responsibility for the Environment, senior officials, and representatives of Regional Institutions. It was convened against the backdrop of a very active 2024 on the multilateral front for the Region, with three COPs (UN Conference on Biodiversity (UNCBD), the UN Framework Convention on Climate Change (UNFCCC), and the UN Convention to Combat Desertification (UNCCD), as well as negotiations on the Plastics Treaty.
Minister Joseph indicated that during his Chairmanship of the COTED on the Environment and Sustainable Development, focus will be placed on strategic leadership and regional cohesion.
He said the Region’s ability to influence outcomes at the negotiation table relies heavily on timely and strategic ministerial engagement. Political leadership lends weight to the technical groundwork laid by CARICOM negotiators and underscores the urgency of regional priorities, he added.
The outcomes from Climate COP29, the biodiversity discussions in Cali, the UNCCD meeting in Riyadh, and the experience at INC5, he said, remind us of the need for coordinated regional efforts. A harmonised approach enhances the Region’s ability to advocate effectively, the Minister pointed out and added that Member States must continue to foster collaboration and ensure that the Region’s collective voice is amplified.
“With key meetings on the horizon, it is crucial that we remain not only proactive, but also agile and responsive in our approach. We must continuously assess progress, identify emerging challenges, and adjust our strategies accordingly. Our ability to adapt and engage strategically will be critical in securing favourable outcomes that align with our regional priorities and development goals,” the Chair said.
Dr. Wendell Samuel, Senior Economic Advisor to the Secretary-General, Caribbean Community (CARICOM) and Assistant Secretary-General (Ag.) of the Directorate of Economic Integration, Innovation and Development, stressed that enhanced coordination is needed both at the national and regional levels to address the increasing complexity and multidisciplinary nature of the negotiations.
He cautioned that while the world seems to be increasingly looking within their national borders, CARICOM has no choice but to look to each other since our very survival depends on it.
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