CARICOM Must Cut Red Tape That Hampers Trade – PM

Prime Minister and Chair of the Caribbean Community (CARICOM), Dr. the Most Hon. Andrew Holness, has stressed the need to address inefficiencies and reduce red tape that hamper trade and movement across the region.

“We must eliminate inefficiencies and regulatory delays so that Caribbean goods and services can move across the region with speed, certainty and confidence,” he said.

The Prime Minister was addressing the CARICOM Business Forum hosted by the CARICOM Private Sector Organization (CPSO) and the Private Sector Organisation of Jamaica (PSOJ) at Sandals Montego Bay in St. James on Tuesday (July 8).

He highlighted the need for urgent and strategic action to advance the CARICOM Single Market and Economy (CSME), emphasising its importance as a buffer against external economic shocks.

“The CSME must be treated not just as an economic aspiration but as a critical shield of resilience and self-reliance,” he said.

The Prime Minister pointed to the necessity of targeted reforms to ensure more equitable trade outcomes for all member states.

“To unlock the full potential of the CSME, we must also address persistent inequities in trade flows and productive capacities. This includes improving regional transport and logistics, resolving supply chain gaps, and boosting domestic production in sectors where we hold competitive advantage,” he pointed out.

Dr. Holness cited recent progress in regional policymaking and credited sectoral stakeholders for their contributions.

He said that the recent 60th Council for Trade and Economic Development (COTED) meeting advised on reforms to the Common External Tariff and the Rules of Origin and endorsed the framework for the regional industrial policy.

These reforms, he pointed out, are crucial to strengthening competitiveness and ensuring that all member states benefit equitably from regional trade.

Dr. Holness reaffirmed Jamaica’s commitment to building on the momentum created by regional partners.

“As Chair [of CARICOM], Jamaica is committed to building on the work of Prime Minister of Barbados, Hon. Mia Mottley, and others to accelerate CSME implementation,” he pledged.

He also noted the importance of recognising the unique developmental needs across the Community.

“Our region is very diverse and we are at different stages of development, and that means that we have to take the African approach, which is we all want to get there fast, but the truth is we have to get there together.” Dr. Holness said.