Sunday, June 7, 2026
Sunday, June 7, 2026
CARICOM advances regional ferry plan as part of push for greater intra-regional trade
Caribbean Community (CARICOM) leaders agreed to advance a regional ferry service as a critical step toward improving transportation and boosting intra-regional trade. This decision was made during a recent high-level summit where transportation, trade barriers, and expanded cooperation with Africa and Latin America were key agenda items.
A small committee has been established to oversee the ferry service and includes the Prime Ministers of St. Vincent and the Grenadines and Barbados, and the President of Guyana, according to CARICOM’s Chairman and Prime Minister of Jamaica Dr Andrew Holness.
He said the committee will review proposals for the ferry service, which is expected to begin in the Eastern Caribbean and include cargo capabilities.
“There is a strong basis for intra-regional trade but there has to be public infrastructure to support that as well,” Dr Holness emphasised.
Since last year, the regional ferry service has been touted as a service meant to facilitate the easier movement of goods (particularly food) and people.
In March last year, it was announced that the company, Cari Cargo Inc, will support the ferry service venture while the Galleons Passage, a vessel from Trinidad and Tobago will also be used to ply the route, at least initially.
At the closing ceremony of the 49th Regular Meeting of the Conference of Heads of Government of CARICOM in Montego Bay, Holness highlighted that discussions also focused on deeper integration within CARICOM through the Caribbean Single Market and Economy (CSME).
Dr Holness said particular attention was paid to economic coordination led by the private sector on this effort.
He also highlighted the resource strengths of member states for instance, oil in Guyana, Suriname and Trinidad and with financial services in Jamaica, Holness said there is strong capacities across the region for intra-regional trade.
“You are going to see more trading but most of our economies are service-based, so you are going to see more trade but you should also take note that trade works when there are other parallel activities so there needs to be a more freer and more integrated capital market,” Dr Holness said.
But trade beyond the region was another major focus, particularly South-South cooperation with Africa and Latin America.
“We are very serious about wanting to increase trade, especially to the global south and Africa,” said Dr. Terrence Drew, Prime Minister of St. Kitts and Nevis.
The recent establishment of Afreximbank offices in Barbados, and Jamaica’s signing of partnership instruments, mark tangible steps toward strengthening CARICOM’s ties with Africa. The bank is expected to support trade and finance facilitation, not just in goods, but in services and the creative industries/
These are areas that Holness said the region holds competitive advantages.
This is being done against the backdrop of shifting global trade dynamics, including the introduction of a 10 per cent base tariff by the United States under its “New America First” trade policy.
As such, CARICOM leaders reiterated the urgent need of diversifying trade partners and strategies.
“Intra-CARICOM trade is still less than 15 per cent of total trade,” Dr Holness noted.
