London Daily

Focus on the big picture.
Thursday, Oct 22, 2026

Elizabeth Morgan | CARICOM heads: Addressing trade and economic issues

Elizabeth Morgan | CARICOM heads: Addressing trade and economic issues

CARICOM Heads of Government will be concluding their Intersessional Meeting in Barbados today. This meeting is chaired by Prime Minister Mia Mottley, who has responsibility for the CARICOM Single Market and Economy (CSME) in the quasi-Cabinet.

Articles leading up to this meeting give the impression that the heads will primarily focus on political foreign policy issues in their relations with the USA, Canada, Britain, China, including candidates for positions at the Organization of American States (OAS), the United Nations Security Council, and the Commonwealth.

The Africa relationship is also linked to candidatures, as Kenya, like Canada, is seeking a seat on the Security Council. Votes have value. Regrettably, Prime Minister Justin Trudeau had to cancel his visit.

The heads will indeed be addressing economic issues, including tax-haven blacklisting and de-risking by correspondent banks.

Referring to my article on January 9 about the CARICOM 2020 foreign trade-policy agenda, the heads, in addition, should be addressing important trade-policy issues. After all, improving trade and investment should be a high priority.

They should be discussing trade with the USA; extension of the Caribbean Trade Partnership Act (CBPTA), which expires in September; the ACP/EU post-Cotonou negotiations as the lead negotiators met on Friday, February 14; the future of trade with Britain, including its relationship with the African, Caribbean and Pacific (ACP) group and the Commonwealth; trade with the European Union (EU), including the review of the Economic Partnership Agreement (EPA); and the situation at the World Trade Organization (WTO).

I read in a CARICOM Today report that the Prime Ministerial Subcommittee on External Trade Negotiations, chaired by Jamaica’s Prime Minister, Andrew Holness, will be presenting its report. This would indicate that the subcommittee had a rare meeting and considered these trade policy issues.

In my opinion, this subcommittee would benefit from a name change. It should be called the Subcommittee on External Trade Relations. I believe that CARICOM heads ought to be addressing these trade-policy issues on a regular basis, even if only receiving a status report for discussion. They should be considering an external trade strategy for the region.


TRADE AND ECONOMIC CHALLENGES

The critical trade and economic integration issue, which the heads will be considering, is the CARICOM Single Market and Economy (CSME). At their 40th Meeting in July 2019, the heads expressed concern about the slow pace and low level of implementation, and noted that some member states did not display a sense of urgency, though recognising capacity constraints.

At this meeting, related to CSME, heads also received an interim report from the re-established Commission on the Economy, chaired by Professor Avinash Persaud, special envoy to PM Mottley on investment and financial services.

This commission, first established in 2013, is to recommend measures for achieving sustainable development. Prime Minister Mottley, demonstrating her commitment to CSME progress, held several meetings/consultations, including a town hall session in November 2019.

At this Intersessional Meeting, the heads will receive a further update on CSME implementation. I am not optimistic that much more progress has been made. I still see no evidence that the CARICOM Private Sector Organisation is operational.

I also did not find that the advisory opinion requested by the CARICOM Secretariat from the Caribbean Court of Justice (CCJ) has been delivered. This advisory opinion has implications for CSME implementation. In October 2019, when the court held hearings, it was reported that the opinion would be provided within a reasonable period of time.

The Commission on the Economy should now be unveiling its report and recommendations.

The heads also ought to be considering the implications for the region of having members with significant oil deposits, Guyana, Suriname and Grenada.

St Lucia’s Prime Minister, Allen Chastanet, in his statement when demitting office as CARICOM chair in December 2019, declared that the region’s future was bright. PM Mottley, on assuming the CARICOM chair in January, thinking of Caribbean resilience, urged the region to continue dreaming, while being determined to deliver.

In spite of this optimism, if, collectively, the region still cannot effectively address its trade and economic challenges to realise its potential, the future may not be as bright, even with oil deposits.

Newsletter

Related Articles

0:00
0:00
Close
Parliamentary Inquiry Highlights Urgent Need to Address Housing Shortage as Scottish Completions Hit Eleven-Year Low
United Kingdom and Singapore Sign Comprehensive Financial Agreement to Deepen Digital and Sustainable Market Ties
Greggs Announces Plan to Close Four Manufacturing Facilities and Cut Seven Hundred and Forty Jobs
International Monetary Fund Raises United Kingdom Economic Growth Forecast While Warning of Inflationary Pressures
Energy Security and Net Zero Committee Urges Government to Shift Policy Costs Onto Gas to Lower Household Bills
Housebuilding Across Scotland Plummets to Eleven-Year Low Despite Government Pledges to Tackle National Housing Emergency
Greggs Announces Factory Closures Across Northern England and Scotland Affecting Seven Hundred Forty Jobs
United Kingdom and Singapore Conclude Eleventh Financial Dialogue in Singapore to Deepen Cooperation on Digital Finance and Capital Markets
Energy Security and Net Zero Committee Urges Government to Shift Policy Costs to Gas Bills and Tap Windfall Profits to Lower Consumer Prices
British Broadcasting Corporation Announces Major Cost-Cutting Overhaul to Close Linear Broadcast Services for Television Channels BBC Three and BBC Scotland Alongside Digital Radio Station BBC Radio Four Extra
London Capital Markets Face Renewed Scrutiny After High-Profile Offerings Underperform Post-Listing
Green Party Wins Historic First Westminster Parliamentary By-Election in Gorton and Denton
Environment Secretary Emma Reynolds Unveils Sweeping Regulatory Overhaul for English Water Industry
United Kingdom Health Security Agency Confirms Thirty-Four Cases in Kent Meningitis Outbreak
Ministry of Defence Prepares Heat Pump Subsidy Cuts to Fund Urgent Military Modernization
British and European Union Officials Schedule Long-Awaited Bilateral Leaders Summit for November Twentieth
Bank of England Governor Andrew Bailey Urges Strict Fiscal Credibility to Protect British Bond Markets
United Kingdom Inflation Rises to Three Point One Percent Driven by Escalating Fuel Costs
Profit Warnings Among London-Listed Companies Reach Two-Year High Amid Global Energy Shocks
Chancellor John Healey Signals Targeted Tax Changes on Banks and London Corporate Offices Ahead of Budget
British Government Reallocates Twenty-Five Per Cent of International Climate Finance to Global Biodiversity Projects
Initial British Carbon Border Taxes Set to Undercut Parallel European Union Tariffs on Industrial Imports
Whitehall Prepares National Zero-Interest Loan Initiative to Accelerate Domestic Heat Pump and Solar Adoption
European Union Offers British Automakers Access to Hybrid Vehicle Trade Protections Subject to Strict Regulatory Alignment
British Probation Officers Threaten Widespread Industrial Action After Rejecting Five Per Cent Government Pay Offer
Microsoft Abandons Major British Artificial Intelligence Data Centre Citing Severe National Grid Power Constraints
United Kingdom Inflation Accelerates to Three Point Four Per Cent Ahead of Chancellor John Healey's Inaugural Autumn Budget
Surging Cloned Number Plates Severely Complicate Traffic Enforcement and Police Investigations
Mounting Opposition Challenges Planned Rollout of Autonomous Taxis Across London
Influential Think Tank Urges Rejoining European Union to Navigate Geopolitical Crises
Government Review Recommends Slashing Benefits to Fund Youth Employment Initiatives
Senior Minister Shabana Mahmood Seeks New Law Enforcement Pact With European Union
Airbus Executive Warns Britain Risks Losing Crucial Role in European Space Industry
Exorbitant Electricity Costs Push British Steelmakers to Worst Competitive Position in Three Years
British Food and Beverage Exports to European Union Collapse by Over a Third Since Brexit
Up to Twenty English Maternity Units Face Impending Closure Due to Safety and Staffing Crises
Government Declares Severe Drought Across Southern England Following Record Dry Spell
Corporate Profit Warnings Reach Two-Year High Amid Middle East Conflict and Rising Costs
International Monetary Fund Warns Chancellor John Healey Against Proposed Bank Tax Raid
Northern Ireland Secures Favorable Agricultural Export Agreement with European Union
Scottish Government Approves Major Offshore Floating Wind Farm Near Aberdeenshire
High Speed Two Rail Project Faces Three Billion Pound Cost Escalation on Initial Phase
National Health Service Warns of Winter Capacity Crisis Across English Hospitals
Tata Steel Confirms Two Thousand Job Cuts at Port Talbot to Fund Green Transition
Global Microchip Developer Announces Three Billion Pound Semiconductor Plant in Cambridge
United Kingdom Artificial Intelligence Safety Institute Proposes Mandatory Licensing for Generative Models
United Kingdom Commits Additional Long-Range Weapons and Air Defenses to Ukraine
British Chancellor Overhauls Infrastructure Financing to Bypass Borrowing Constraints
Bank of England Holds Benchmark Interest Rate at Four Point Five Percent
First Minister Rhun ap Iorwerth Confirms Constitutional Discussions Over Welsh Independence During Initial Bilateral Call with Prime Minister
×