Caribbean urged to act on import diversification as supply chain pressures mount – points to new import pathways, collective action key to trade resilience

As the Caribbean region grapples with supply chain challenges and rising costs, the question of where goods are sourced has come into focus. Recognizing the urgency of this issue, the Caribbean Private Sector Organisation (CPSO) has been leading efforts to identify practical ways to de-risk imports and further broaden sourcing opportunities beyond traditional markets.

This came to a head during a lengthy webinar session hosted by the CPSO and the Eastern Caribbean Central Bank on Wednesday titled, “De-Risking CSME Imports: Examining the scope for goods market fulfilment from non-traditional sources.”

During the webinar, regional experts highlighted the need to diversify trade relations, strengthen resilience and lower costs for both businesses and consumers. Chairman of the CPSO, E. Gervase Warner, disclosed that the organisation’s ongoing work has positioned it to tackle the question of whether viable alternatives exist to the region’s heavy reliance on the United States following the announcement and imposition of reciprocal tariffs.