PM Calls for Stronger Regional Trade Partnerships Beyond CARICOM
Prime Minister Gaston Browne has urged CARICOM nations to expand their trade partnerships beyond the regional bloc, adding the need for stronger economic ties with South America, particularly Brazil.
He argues that diversifying trade relationships will help reduce geopolitical risks and enhance economic resilience.
Speaking on Pointe FM, Browne noted that while CARICOM’s economic integration efforts through the Caribbean Single Market and Economy (CSME) have facilitated trade within the region, there is still much work to be done in establishing a true single market.
He stressed that CARICOM nations must look beyond intra-regional trade and actively seek partnerships with Latin American economies.
“We need to be doing more trade with South America,” Browne stated.
“Countries like Brazil have high-quality products at competitive prices, and if we develop stronger trading links, it will not only boost economic activity but also reduce our dependence on traditional markets.”
The Prime Minister pointed out that increasing trade with South America could help CARICOM nations mitigate economic vulnerabilities linked to geopolitical uncertainties.
By diversifying trade relationships, the region can lessen its reliance on external powers that may impose restrictive trade policies or tariffs.
Browne also emphasized the importance of linguistic and cultural adaptability, suggesting that CARICOM countries should invest more in language education to facilitate business relationships with Spanish- and Portuguese-speaking markets.
He proposed making Spanish a compulsory subject in Caribbean schools to better prepare future generations for engagement with Latin America.
“We have to recognize that most countries in our hemisphere are Spanish-speaking,” Browne noted. “If we truly want to integrate our economies with South America, we must break language barriers and expand our communication capabilities.”
Browne’s call for enhanced trade with South America aligns with broader efforts to position CARICOM nations as competitive players in the global market.
By forging stronger economic ties with Brazil and other Latin American economies, the region stands to benefit from increased access to goods, technology, and investment opportunities.
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