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Caribbean Community and CARICOM Private Sector Organisation to sign MOU Thursday

As the Caribbean Community continues to forge ahead with the CARICOM Single Market and Economy (CSME), CARICOM Secretary-General, Ambassador Irwin LaRocque will sign a Memorandum of Understanding with the CARICOM Private Sector Organisation Inc (CPSO) on Thursday 3 December 2020. The MOU outlines areas of cooperation towards the full implementation of the CSME, acknowledging that the private sector is well positioned to positively contribute to the CSME regimes of free movement of goods, services, labor and capital.

The CPSO is the latest Associate Institution of CARICOM, having been so designated on 29 October 2020. Its status is recognition of the need for more structured engagement between the Community and the Private Sector and Labour to achieve economic development and full realisation of regional integration.

Regional private sector officials had engaged CARICOM Heads of Government about the establishment of the CPSO during their 40th Regular Meeting in Saint Lucia in July 2019. The Business Executives met the month before with Prime Minister Mia Mottley of Barbados, the Lead Head of Government on the CSME in the CARICOM Quasi-Cabinet and shared the view that the CSME continued to be the most viable platform for supporting growth and development in the Region.

In their next engagement with CARICOM Heads of Government, at their 31st Inter-Sessional Meeting in Barbados in February 2020, the private sector representatives  confirmed to the Heads that the CPSO had been established as a non-profit organisation with Headquarters in Barbados.

The CPSO’s Chairman Mr.  Gervase Warner will join the CARICOM Secretary-General for Thursday’s signing of the MOU.  The Ceremony begins at 11:00 a.m. (Eastern Caribbean Time) and will be Livestreamed on the CARICOM Face Book page – https://www.facebook.com/caricom.org

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