CARICOM Mia Mottley Proposes Solutions for Economic Stability in Caribbean Region

CARICOM Chair Mia Mottley has proposed a series of actions to improve economic self-sufficiency, strengthen regional cooperation, and address the Caribbean’s vulnerability in global trade.

Mottley called for immediate actions, including reengaging with the United States at the highest level, acknowledging the mutual benefits of cooperation, particularly under initiatives like the Caribbean Basin Initiative. She said that the Caribbean’s small size, vulnerability, and limited manufacturing capacity make it incapable of distorting trade, which led the US to assist in promoting Caribbean exports under the initiative. “We will see how these tariffs will impact on that,” she warned.

She also stressed the importance of avoiding political divisions for personal gain, encouraging unity within the Caribbean to tackle common economic challenges. “United we stand, divided we fall,” Mottley said.

Another key suggestion from Mottley was to increase investment in Caribbean agriculture and light manufacturing, pushing for more ambitious goals in local production. “We must grow our own and produce our own as much as possible,” she said. Mottley said that strengthening small businesses and producers makes it a critical part of the strategy to build resilience in the region during times of global crises.

Supporting local products was another recommendation. Mottley encouraged consumers to buy local, stating, “Buy local and buy regional. The products are better, fresher and more competitive in many instances.”

Mottley’s last proposed action is to diversify trade partnerships with countries in Africa and Central and Latin America and renew relationships with older partners like the UK, Europe, and Canada. “We must not rely solely on one or two markets. We need to be able to sell our Caribbean goods to a wider, more stable global market.”

Moreover, Mottley pointed out the potential spillover effect on tourism. She said a possible slowdown in tourism due to rising global economic pressures threatens the Caribbean. “Worsening conditions in many of our source markets will have negative impacts on people’s ability to travel,” she said.

“We call in our regional private sector and the tourism sector to come together and to work with governments to collaborate for an immediate tourism strategy to ensure that we maintain market share numbers as a region,” Mottley stated. “I pray that I am wrong, and I’m praying that cooler heads prevail across the world and leaders come together in a new sense.”