A powerful collective call for urgent, coordinated action to resolve longstanding obstacles impacting regional integration emerged from the PSOJ-CPSO Business Breakfast Forum, hosted on 8 July 2025, at Sandals Montego Bay.
The event brought together regional heads of government and private sector leaders against the backdrop of the 49th Caricom Heads of Government Meeting.
Speakers highlighted that persistent inefficiencies, trade bottlenecks, and non-tariff barriers continue to suppress intra-regional trade, which currently accounts for just 11.2% of Caricom’s total trade. Emphasis was placed on translating policy into practical reforms with a focus on accelerating implementation of the Caricom Single Market and Economy (CSME) and intra-regional trade, harmonising trade standards and removing non-tariff barriers, deepening financial market integration, including the establishment of a regional stock exchange and addressing global policy shifts such as US reciprocal tariffs and the International Maritime Organisation (IMO) global carbon tax.
Delivering the keynote address, Prime Minister of Jamaica Dr The Most Honourable Andrew Holness, the incoming Chair for Caricom, as of 1 July, stressed, “regional integration must be more than aspiration; it must serve as a critical shield of resilience and self-reliance. No business can thrive in isolation, and no government can respond alone. We must act with urgency and strategic coordination.” Prime Minister Holness also reaffirmed Jamaica’s commitment to the CSME (CSME), noting recent reforms to the Common External Tariff and the development of the regional industrial policy framework.
Chairman of the Caricom Private Sector Organisation (CPSO) Gervase Warner, framed the Forum as a rare, yet vital, opportunity for public-private dialogue. He pointed to specific projects requiring action, including regional capital markets integration through the development of a regional stock exchange, mobilised digital infrastructure investment, and critical regional maritime transportation solutions. Warner remarked, “We cannot afford inertia. Many of the barriers we face, including non-tariff barriers, are self-imposed. The private sector must play its role in dismantling them.”
President of the Private Sector Organisation of Jamaica (PSOJ) Metry Seaga highlighted the private sector’s readiness to lead but noted the need for governments to create an enabling environment. “We’re not here for another talk shop. Regional integration is no longer optional; it is a necessity for survival and growth. We need harmonised regulations, efficient customs systems, modern logistics, and reduced red tape,” Seaga asserted.
“Our job as governments is to facilitate and create a level playing field,” said Prime Minister Holness in response. p“Regional integration cannot be treated as an economic aspiration; it must be a shield of resilience and self-reliance. We must act with urgency, coordination, and a strategic mindset to overcome the obstacles,” he added.
Bringing empirical weight to the discussions, Dr Patrick Antoine, Chief Executive Officer and Technical Director of the CPSO, revealed cutting-edge insights and analysis, highlighting that Caricom could face US$542.3 million in annual export revenue losses due to new US reciprocal tariffs. Dr Antoine advocated for a ‘CBI-Plus’ strategy to safeguard products outside the existing Caribbean Basin Initiative (CBI) preference regime. He emphasised, “Every delay in CSME implementation represents lost opportunities for growth, jobs, and innovation. Dr Antoine’s presentation also raised awareness regarding the looming IMO Global Carbon Tax and implications for the Caricom region, stating, “We are also calling for an urgent convening of a technical working group to address the global carbon tax’s potential impact on our trade competitiveness.”
Adding a frank regional perspective, Honourable Kerrie Symmonds, Barbados’ Minister of Foreign Affairs and Foreign Trade, urged Caricom members to move beyond self critique toward practical action. “We have missed too many boats — whether in production integration or sourcing diversification. Resilience means building new, reliable trade relationships beyond our traditional partners,” Minister Symmonds said. He also raised concerns about emerging global green protectionism policies, warning that Caricom must engage early to protect its interests.
The PSOJ and CPSO underscored that the time for talk has passed, reaffirming their resolve to drive tangible outcomes through stronger public-private partnerships, actionable policy reforms, and region-wide collaboration with Caricom governments.”
CPSO
Is this just more talk again? These “get togethers” expound the need for “continued collaboration” over and over again – in fact, since the 1980’s. But essentially nothing changes.
Except that we continue, ad nausem to talk about it. . . . Urhhh.