Remarks by CARICOM Secretary-General, Dr Carla Barnett | 62nd Regular COTED | Georgetown, Guyana | 11 June 2026

 Dr. the Honourable Vince Henderson, Minister of Foreign Affairs, International Business, Trade and Energy of the Commonwealth of Dominica, and Chairman of the Council for Trade and Economic Development (COTED);
 Ministers and Heads of Delegations;
 Heads and Representatives of Regional Institutions;
 Staff of the Caribbean Community (CARICOM) Secretariat;
 Ladies and Gentlemen.

It is a pleasure to once again welcome you to the Headquarters of the Caribbean Community (CARICOM), this time for the Sixty-Second Regular Meeting of the Council for Trade and Economic Development (COTED).

Overlapping global crises are driving significant geopolitical and economic shifts. The ongoing disruption in global energy markets and supply chains have contributed to volatility in financial markets, added to inflationary pressures and dampened the medium term global economic outlooks.

The United Nations Conference on Trade and Development has predicted a dip in global merchandise trade volumes for this year, and for developing economies like those in CARICOM, UNCTAD warns of higher fuel, food, and fertilizer costs, which will not only increase inflation, but also undermine food security and increase our external vulnerabilities.

Our resilience is being tested, and safeguarding our trade and economic development agenda requires strategic, coordinated and focused efforts. In this regard, the COTED deliberations and decisions continue to be consequential for every member of the Community, particularly businesspersons, consumers, the self-employed, and our young people.

Over the next two days, you will debate issues and make decisions on a wide range of matters which are critical to our internal arrangements and our external environment. On a preliminary basis, we will consider the assessment of the CARICOM Single Market and Economy as the Region’s core platform for economic development and resilience, especially against a backdrop of global disruptions. This assessment also confirms that we need to address more effectively the implementation of the provisions of the Revised Treaty of Chaguaramas to ensure a stronger and more durable CSME.

Article 164 of the Revised Treaty, which establishes special temporary tariff protections and market access measures to support development of local manufacturing industries, remains vital to our Lesser Developed Countries. In this regard, I commend the CDF for its continued implementation of the Programme of Support Measures for Industries, which strengthens the competitiveness and sustainability of businesses which produce products that benefit from Article 164 protection.

It is also very pleasing to see work advancing on the development of a Digital Trade Policy for CARICOM, which must be seen as part of the Region’s strategic response to a more technologically advanced and interconnected world.

Looking at the external agenda, we are close to concluding negotiations to expand the Trade, Economic and Technical Cooperation Agreement with Colombia. This Meeting is expected to provide the strategic guidance required to position our negotiators to finalise a deal. We should bear in mind the mandate from our Heads of Government to exploit opportunities for market diversification arising from existing bilateral trade agreements.

The implications of the America First Trade Policy for CARICOM is also before us today. The Expert Working Group and the CARICOM team have been working hard and keeping the lines of communication open with the Office of the US Trade Representative as we prepare to engage this important trading partner on our future trading relationship.

Distinguished ladies, gentlemen, the multilateral trading system had entered a difficult period long before the current period of global turmoil. A fractured dispute settlement system, a stalled rule-making agenda, and challenges with monitoring and transparency took a toll on the system. These problems have been compounded by heightened trade tensions and unilateral trade policy measures. Nonetheless, for small states, rules-based multilateralism provides a superior alternative to a system based on power and coercion. I, therefore, encourage you to assign importance to ongoing developments at the World Trade Organization and the work flowing from the Fourteenth Ministerial Conference of the WTO, which was convened in March this year.

Mr. Chairman, the people of our Community look to us to make sound decisions on their behalf. I am confident that under your leadership, and with the valuable contribution of our Ministers and Heads of Delegation present, we will deliver positive outcomes from this Sixty-Second Meeting of the Council. My team and I remain ready to give our full support to you and to all here at the Meeting.

Thank you.

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