Caribbean Community (CARICOM) Secretary-General Carla Barnett emphasized the need for the region to diversify its export base and reduce reliance on energy and commodities to ensure sustainable economic growth. Speaking at the International Trade and Investment Conference in Georgetown, Guyana, Barnett noted that despite a notable increase in merchandise exports, CARICOM still depends heavily on food, manufactured goods, and capital equipment imports.

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Barnett highlighted that total merchandise exports from the bloc have grown from around US$19 billion to over US$39 billion in the last five years. While imports rose to approximately US$42.9 billion in 2025, the export growth has outpaced imports, leading to a narrowing of the merchandise trade deficit from more than US$10 billion to roughly US$2.6 billion in 2024 and US$3.3 billion in 2025.

However, she raised concerns about the concentration of exports in energy and commodities, as well as the dependency on tourism, which constituted about 82% of CARICOM's services exports in 2024. Barnett noted the services sector had rebounded post-COVID-19, achieving a trade surplus exceeding US$7.2 billion.

Foreign direct investment (FDI) in CARICOM remained modest, with approximately US$4 billion attracted in both 2024 and 2025. Investment focus has primarily been on tourism, real estate, and energy, while greenfield investment is comparatively weak.

Amidst ongoing global uncertainty, including conflicts and rising shipping costs, Barnett stated the importance of regional integration and collective economic action. The Revised Treaty of Chaguaramas is the framework guiding regional integration, with CARICOM leaders steering policy. The CARICOM Single Market and Economy (CSME) aims to improve the movement of goods, services, and capital, emphasizing the need for equitable market access.

Barnett detailed four strategies CARICOM is pursuing to bolster economic connections: enhancing regional productive capacity through the CARICOM Industrial Policy, improving the investment environment via a new Investment Policy, deepening capital markets, and coordinating tax systems for smoother cross-border transactions.

Additionally, CARICOM aims to strengthen trade relationships beyond its borders, notably with Colombia, Costa Rica, and the Dominican Republic. Barnett welcomed the restoration of Caribbean Basin Initiative trade preferences but indicated that continuous engagement with trading partners is essential due to ongoing trade challenges.

Investment opportunities identified include agriculture and agribusiness—key for food security—as well as renewable energy, tourism, and logistics. Barnett stressed that quality in investment projects is as crucial as the volume, urging investors to consider the broader CARICOM market for opportunities.

She concluded by reiterating that while governments can establish frameworks for investment, the private sector will play a vital role in addressing practical constraints to enhance the Caribbean's economic landscape.