Term Slug
trade-and-economic-issues

Treaty launches new chapter for equity in world’s ocean

March 4, 2023 marked a historic moment for the world’s oceans. After a marathon of intense, sometimes overnight negotiations, Member States of the United Nations agreed on the provisions of the ocean biodiversity treaty on the conservation and sustainable use of marine Biodiversity of areas Beyond National Jurisdiction (BBNJ).

Remarks by CARICOM Secretary-General at Opening, First AfriCaribbean Trade and Investment Forum, Barbados, 1 September 2022

The First CARICOM-Africa Summit held on 7 September 2021, opened a new chapter in the deep-rooted and strong relations between CARICOM and Africa.  It set in motion various initiatives to further deepen and strengthen relations between the African continent and the Community.  In particular, the Leaders underscored the need to foster increased trade, investment, air travel, and maritime shipping links, with a view to realising greater economic integration and enhanced people-to-people contact between Africa and the Caribbean.

Antigua registers 7% increase in tourist arrivals in July - CARICOM Business

Antigua and Barbuda has reported a 7% increase in tourist arrivals in July as the country continues to record a “steady rebound” in visitor arrivals in the wake of the coronavirus (COVID-19) pandemic that had forced the closure of borders.

The Ministry of Tourism said during July, Antigua and Barbuda welcomed 24,673 visitors, an increase of 23,405 from the corresponding period last year and the 2019 record of 23,031.

Barbados Gov’t caps fuel prices - CARICOM Business

Effective August 19, consumers in Barbados will be paying less for gasoline and diesel as Prime Minister Mia Mottley announced that the price of fuel at the pump will be capped for the next five months.

Gasoline will cost BDS$4.48 (US$2.24) per litre, while diesel will be BDS$4.03 (US$2.01) until January 31, 2023. Mottley also said that the cap on the Value Added Tax (VAT) on gasoline and diesel, which was put in place five months ago, would be kept in place.

25% by 2025 Reduction in the Regional Food Bill

Heads of Government of CARICOM have committed to reducing the Region’s large food import bill by 25% by 2025. The implementation of the CARICOM Agri-Food Systems Strategy in the Member States, is expected to help achieve this target, by giving special attention to priority crops and products such as poultry, corn, soya, meat (Goat, Sheep, Beef), rice and niche vegetables which are highly imported products in the region.