Here’s a bold statement: Trinidad and Tobago’s economy might be far more dependent on Caricom than many realize—and dismissing this regional bloc could come at a staggering cost. But here’s where it gets controversial... While Prime Minister Kamla Persad-Bissessar has openly criticized Caricom as a fractured and unreliable partner, the Joint Consultative Council for the Construction Industry (JCC) is sounding the alarm, calling the Caricom market indispensable to the nation’s economic resilience. In a recent statement, JCC President Fazir Khan urged TT to reject any notion that it could thrive without Caricom’s support, highlighting the bloc’s critical role in trade, diversification, and job creation.
And this is the part most people miss... Caricom isn’t just another trading partner—it’s TT’s second-largest export market, trailing only the US. In 2024 alone, TT earned over US $1.1 billion in foreign exchange from Caricom trade, with domestic exports totaling US $784.7 million and re-exports reaching US $501.3 million. To put this in perspective, Caricom accounts for roughly a tenth of TT’s global exports and an even larger share of its non-energy exports. For instance, excluding petroleum, exports to Caricom topped US $560 million in a recent benchmark year, representing about one-quarter of all intra-regional exports—the largest share of any member state. This isn’t a marginal market; it’s a vital anchor for economic diversification and a pivot away from energy dependence.
For the construction industry, this regional demand translates into tangible jobs for technicians, engineers, contractors, and consultants—roles that might otherwise be at the mercy of the volatile local market. Khan emphasized that any disruption to Caricom trade could result in hundreds of millions of US dollars in annual export losses, particularly for non-energy sectors still struggling to establish themselves globally. At a time when TT is striving to stabilize foreign exchange earnings and expand its productive base, undermining this relationship would be, as Khan put it, economically ill-advised.
But here’s the controversial question... Is the Prime Minister’s criticism of Caricom—including claims that members sided with Venezuela against the US in drug trafficking efforts and that Antigua’s actions led to US visa restrictions—fair, or does it risk overshadowing the bloc’s undeniable economic value? Antigua’s Prime Minister Gaston Browne, for one, took issue with the “unreliable partner” label, pointing out Caricom’s substantial trade contributions. Meanwhile, Persad-Bissessar insists that TT is exploring partnerships beyond the region, though she confirmed that Cabinet has not discussed withdrawing from Caricom.
What do you think? Is Caricom a cornerstone of TT’s economy, or is it time to look elsewhere? Does the Prime Minister’s critique hold water, or is it a misstep? Let’s spark a discussion—share your thoughts in the comments below!
