Canada and the Caribbean Forge Stronger Trade Bonds

20 Oct, 2023

Canada and the Caribbean Forge Stronger Trade Bonds

During the Canada-CARICOM summit's concluding day, Canadian Prime Minister Justin Trudeau unveiled several new trade initiatives that aim to strengthen Canada's relationship with the Caribbean. Trudeau highlighted the pivotal role played by existing trade programs, which grant many Caribbean nations duty-free access for their goods. To further enhance this trade relationship and stimulate job growth, Trudeau announced an expansion of duty-free access for textile and apparel products under the

Commonwealth Caribbean countries tariff program.

In addition to trade expansion, Trudeau emphasized Canada's commitment to fostering closer ties between Canadian businesses and the Caribbean workers they employ. He disclosed a new foreign labor program within Canada's temporary foreign worker program, specifically tailored for agriculture and fish processing sectors, with the objective of reinforcing these business connections.

Furthermore, Trudeau underscored the potential for private capital investment in the Caribbean's clean economy, which offers opportunities for profit, prosperity, and the pursuit of sustainable development goals (SDGs). He identified green infrastructure, smart agriculture, renewable energy, clean technology, and other sectors as promising areas for collaboration between Canadian innovation and businesses in the Caribbean.

Trudeau emphasized the importance of ensuring that the benefits of economic growth are widely shared across both regions, including women, girls, LGBTQTI individuals, and people from diverse racial backgrounds. He noted that the people-to-people connections between Canada and the Caribbean provide a strong foundation for doing business and facilitating trade, describing it as a "natural fit."

Guyana's President, Irfaan Ali, who was representing Dominica's Prime Minister Roosevelt Skerrit as the co-chair of the summit, emphasized the importance of resetting the trade and investment agenda at the highest level. He stressed their commitment to expanding trade and exploring investment opportunities, demonstrating their

seriousness in promoting economic growth and collaboration between Canada and the Caribbean.

The summit discussions held over the past days have revealed the untapped potential and opportunities for partnership between the regions, and Trudeau encouraged a deeper commitment to further concretize and expand upon these ambitions.