Dear Reader,

Welcome to the Caribbean Trade & Development News Digest for the week September 20–26, 2026!

📌 THIS WEEK’S HIGHLIGHTS

• Royal Caribbean Group agrees to invest approximately US$3 billion for a 50% interest in Jamaica-born Sandals and Beaches Resorts, one of the largest transactions involving a Caribbean-founded services multinational.
• Dominican exports to Haiti rise sharply even as Haitian exports to the Dominican Republic collapse, illustrating the increasingly asymmetric nature of bilateral merchandise trade.
• CARICOM and India discuss expanding trade and investment alongside cooperation in agriculture, digital governance, energy and climate resilience.
• The WTO establishes a panel to examine the EU’s Carbon Border Adjustment Mechanism, a case with potentially far-reaching implications for climate-related trade policy.
• A proposal to restart appointments to the WTO Appellate Body fails for the 100th time, underscoring the continuing crisis in the dispute-settlement system.

🌴 CARIBBEAN TRADE STORIES

⭐ Royal Caribbean invests US$3 billion for 50% of Sandals and Beaches Resorts

Royal Caribbean Group/Sandals Resorts: Royal Caribbean Group will acquire a 50% equity interest in Sandals and Beaches Resorts for approximately US$3 billion, forming a joint venture that gives the cruise giant a major foothold in Caribbean all-inclusive tourism while providing Sandals with additional capital and distribution capacity for expansion. The transaction, announced September 23 and expected to close in early 2027 subject to approvals, implies a value of roughly US$6 billion for the Jamaica-born hospitality business and is particularly significant as a rare multibillion-dollar valuation of a Caribbean-created multinational services brand with supply-chain linkages spanning agriculture, manufacturing, transportation, entertainment and other regional services. Read more

Guyana’s new Development Bank to launch with US$100 million

Guyana Department of Public Information: Guyana is preparing to launch the Guyana Development Bank on October 5 with an initial US$100 million capital injection, offering financing of up to G$3 million, including zero-interest and zero-collateral loans for eligible borrowers, while combining credit with mentorship, training, technical assistance and market support. The government also plans a mobile application and community desks in commercial banks to reach rural, riverine and hinterland businesses, positioning the institution as a mechanism for helping local entrepreneurs and SMEs participate more fully in an economy being rapidly transformed by petroleum revenues and investment. Read more

Suriname and UNIDO target industrial diversification and local value addition

UNIDO: Suriname and the United Nations Industrial Development Organization launched a Programme for Country Partnership 2026–2031 on September 21 aimed at accelerating economic diversification, enterprise competitiveness and local value addition as new economic opportunities emerge. The programme will target agro-industrial and forest-based value chains, the bioeconomy, green and blended finance, skills and investment mobilisation, with a particular emphasis on processing more raw materials and agricultural products domestically—a significant development for an economy seeking to ensure that future resource growth generates broader productive capacity, exports and employment rather than deeper commodity dependence. Read more

Trinidad and Tobago’s gas shortage puts further pressure on petrochemical exports

Trinidad Guardian: Global petrochemical producer Proman is reducing its workforce in Trinidad and Tobago as the country’s prolonged natural-gas supply shortage prevents the company from operating all of its plants consistently at full capacity. The announcement adds to pressure on the Point Lisas Industrial Estate, where methanol and ammonia producers depend heavily on reliable gas supplies, and has wider trade implications because petrochemicals remain among Trinidad and Tobago’s most important manufactured exports; continued feedstock constraints therefore affect not only employment and plant economics but the country’s ability to maintain production and export competitiveness in industries in which it has historically been a major global supplier. Read more

Antigua and Barbuda aviation tax increase raises competitiveness concerns

Antigua and Barbuda is moving to increase its Passenger Head Tax on non-CARICOM international travel from US$40 to US$50, with travel within CARICOM exempt, as the government seeks additional revenue to finance obligations to regional institutions including the Eastern Caribbean Civil Aviation Authority and Eastern Caribbean Supreme Court. The International Air Transport Association has called for greater transparency and warned about the potential effect on connectivity and competitiveness at a time when passenger traffic reportedly declined 2.6% in the first half of 2026; for a tourism-dependent island economy, the debate highlights the difficult balance between financing essential regional institutions and keeping air-access costs internationally competitive. Read more

Bahamas aggregate producer plans US$9 million capacity expansion

The Tribune: Grand Bahama-based Freeport Aggregates plans to invest a further US$9 million to expand production capacity, building on US$10 million already spent rebuilding its plant after Hurricane Dorian, as the company seeks to meet domestic construction demand and continue servicing export orders. The investment could help ease concerns about shortages following the temporary shutdown of Bahama Rock, with Freeport Aggregates targeting completion of expanded fixed capacity during the third quarter of 2027 and approximately 20 additional jobs; the development illustrates how domestic productive investment can reduce exposure to higher-cost imports while preserving export capacity in an economy heavily dependent on imported construction inputs. Read more

Saint Lucia explores equity investment as alternative to more public borrowing

Government of Saint Lucia: Prime Minister Philip J. Pierre met Saudi Eksab CEO Yazeed Saleh AlYahya in New York on September 24 to discuss potential equity investment in Saint Lucian development projects, with the government explicitly seeking financing models that can mobilise private capital without automatically adding to sovereign debt. The approach is particularly relevant for Caribbean SIDS, where high infrastructure requirements, climate vulnerability and restricted fiscal space frequently collide: attracting credible equity investors could broaden financing options for productive and infrastructure projects, although the eventual development impact will depend on the sectors selected, investment terms and the extent to which projects generate domestic economic linkages. Read more

Grenada markets Project Polaris as investment in health and services economy

NOW Grenada: Grenada presented Project Polaris, encompassing a new General Hospital and wider Medical City, to international investors, development partners and healthcare operators during UN General Assembly week, highlighting potential opportunities across healthcare, research, technology, wellness and related services. Beyond improving domestic health infrastructure, the government is positioning the project as an economic-development platform capable of attracting capital and creating new service-sector activity, illustrating a wider Caribbean effort to diversify the traded-services economy beyond traditional tourism by building specialised areas such as medical, wellness and knowledge-intensive services. Read more

Barbados looks to expand its tax and investment treaty network

Barbados Today: Barbados is pursuing new double taxation and bilateral investment agreements with less traditional markets, including preliminary discussions with an unnamed European country, as Bridgetown seeks to broaden its investment relationships and strengthen the international framework supporting cross-border business. Expanding the treaty network remains particularly important to Barbados’ international business and services strategy because well-designed tax and investment agreements can reduce barriers to cross-border transactions, provide greater certainty to investors and deepen economic relationships beyond the island’s traditional partners, although the benefits ultimately depend on actual investment and commercial activity generated under those arrangements. Read more

Dominican exports to Haiti surge as bilateral trade becomes increasingly one-sided

Trade between the Dominican Republic and Haiti became even more asymmetric during January–August 2026, with Dominican exports to Haiti rising 19.4% to US$921.5 million while imports from Haiti fell almost 87% to only about US$680,000, according to Dominican customs data reported this week. Dominican sales included iron bars, cement and wheat flour alongside free-zone products, while the steep contraction in the opposite direction highlights the severe weakness of Haiti’s current export capacity; the figures matter for the wider Caribbean because they demonstrate both Haiti’s continuing dependence on imported essentials and the scale of productive-sector rebuilding required if the country is to participate more evenly in regional commerce. Read more

Dominican Republic reports record investment and exports

Presidency of the Dominican Republic: President Luis Abinader reported at the United Nations this week that the Dominican Republic has surpassed US$5 billion in foreign direct investment for the first time and is approaching US$16 billion in exports, alongside continued tourism growth. The figures reinforce the Dominican Republic’s emergence as one of the Caribbean’s most diversified trade and investment performers, supported by manufacturing free zones, tourism, services and increasing nearshoring interest; official data released earlier this month showed merchandise exports reaching a record US$10.56 billion during January–August alone, up 11.4% year-on-year. Read more

Cuba edges further towards market mechanisms amid deep economic crisis

Reuters: Cuba is cautiously introducing further market-oriented measures as it confronts severe inflation, currency depreciation, energy shortages and limited access to foreign exchange, including permitting private currency-exchange houses and introducing larger-denomination banknotes. The reforms remain constrained and the government maintains its socialist economic model, but the incremental shift is significant for trade and business because access to foreign currency, functioning payment mechanisms and a more predictable operating environment are critical to Cuba’s private sector, tourism industry, import capacity and ability to attract investment at a time when U.S. restrictions and domestic structural weaknesses continue to place the economy under acute pressure. Read more

CARICOM and India seek deeper trade, investment and digital ties

The India–CARICOM Foreign Ministers’ Meeting, held in New York on September 23, reviewed progress since the 2024 India–CARICOM Summit and discussed increasing trade and investment alongside cooperation in agriculture and food security, digital governance, climate resilience and energy. The meeting brought together representatives of 14 CARICOM member states, with India also encouraging deeper economic, digital and mobility links; the relationship has strategic potential for the Caribbean because India offers a large and growing market, significant expertise in digital public infrastructure, pharmaceuticals and renewable energy, and an additional source of South-South investment and development cooperation at a time when Caribbean states are seeking to diversify external economic partnerships. Read more

📢 STRAIGHT FROM THE WTO!

WTO panel to examine EU Carbon Border Adjustment Mechanism

WTO: The Dispute Settlement Body agreed on September 25 to establish a panel examining Russia’s challenge to the European Union’s Carbon Border Adjustment Mechanism (CBAM) and an alleged export subsidy under the EU Emissions Trading System, with 18 WTO members reserving third-party rights. The case is consequential far beyond the immediate parties because it could help clarify how climate-related border measures interact with WTO non-discrimination, subsidy and other trade rules; for Caribbean and other small developing economies, that matters as major markets increasingly link trade access to carbon content and environmental standards, potentially creating new compliance costs even for countries contributing relatively little to global emissions. Read more

Appellate Body appointments blocked for the 100th time

WTO: Colombia, speaking for 130 WTO members, introduced for the 100th time a proposal to begin filling vacancies on the WTO Appellate Body, but the United States again declined to support the decision, citing unresolved concerns about the dispute-settlement system. The milestone underscores how long the WTO has operated without a fully functioning two-tier appeals mechanism and is especially important for smaller economies: binding, enforceable dispute settlement is one of the principal ways a rules-based system can reduce dependence on economic power in resolving trade conflicts, meaning prolonged institutional paralysis potentially weakens one of the WTO’s most valuable protections for small and developing members. Read more

World Trade Report 2026 reinforces what is at stake for small economies

WTO: WTO Chief Economist Robert Staiger returned this week to the findings of the World Trade Report 2026, noting that around 72% of global merchandise trade still takes place on WTO most-favoured-nation terms despite the growth of bilateral and regional agreements. The report’s modelling is particularly striking: fragmentation into geopolitical blocs could reduce global GDP by 5.1% and exports by 18.6%, while a world in which the WTO was effectively replaced by free trade agreements could cut GDP by 6.9% and exports by 26.9%; by contrast, stronger multilateral cooperation could raise GDP by 2.9% and exports by 17.9%. For Caribbean states, the importance lies in the WTO’s role in moving trade relations away from purely power-based bargaining and towards common rules—making reform and renewal of multilateralism, rather than its abandonment, especially consequential for small economies. Read more

🌎 GLOBAL TRADE STORIES

ASIA

United States and China agree US$30 billion reciprocal tariff reductions

The United States and China concluded President Xi Jinping’s September 23–25 state visit with an agreement covering more favourable tariff treatment for approximately US$30 billion of non-sensitive goods in each direction, alongside implementation of a bilateral Board of Trade, an agricultural market-access working group and new mechanisms for dialogue on artificial intelligence. The Chinese and U.S. governments both confirmed the tariff arrangement, which marks a further attempt to stabilise the world’s most consequential bilateral trade relationship after several years of tariff escalation and supply-chain tensions; while narrower than a comprehensive settlement, the measures could directly affect agricultural goods, seafood, wood products, cosmetics, medical devices and other traded products. Read more

EU and Philippines move closer to comprehensive free trade agreement

The European Union and Philippines reached substantial agreement on a free trade agreement on September 22, putting negotiations on a path towards formal conclusion and eventual ratification. The proposed agreement would liberalise more than 94% of tariff lines and includes provisions covering investment, government procurement, intellectual property, digital trade and sustainability, while bilateral trade already spans tens of billions of euros; the deal reflects the EU’s wider effort to diversify commercial partnerships in Southeast Asia and the continuing appeal of comprehensive trade agreements as businesses and governments seek more resilient market access amid growing geopolitical and tariff uncertainty. Read more

India–New Zealand FTA to enter into force October 20

Reuters: India and New Zealand confirmed that their free trade agreement will enter into force on October 20, eliminating or reducing tariffs on around 95% of New Zealand exports to India, with 57% becoming tariff-free immediately, while Indian goods will receive full duty-free access to New Zealand. The agreement also includes services, mobility and investment provisions, with New Zealand committing to facilitate US$20 billion in investment in India over 15 years; the deal is another example of India’s accelerating trade-agreement strategy as New Delhi seeks to diversify export markets and investment relationships amid growing uncertainty in the wider global trading environment. Read more

LATIN AMERICA

Mexico plans to shift more imports towards the United States

Reuters: Mexico plans to increase imports from the United States while reducing purchases from other economies as part of negotiations surrounding the review of the USMCA, President Claudia Sheinbaum said on September 21. Washington has pressed Mexico to reduce the bilateral U.S. trade deficit, while wider negotiations have increasingly focused on North American manufacturing, Chinese participation in regional supply chains and rules governing automobiles and strategic industries; any significant sourcing shift could redirect trade throughout North America and demonstrates how bilateral trade balances are becoming an increasingly prominent negotiating objective in U.S. trade policy. Read more

Brazil holds off on tariff retaliation as U.S. negotiations continue

Reuters: Brazil will refrain for now from using its reciprocity law against U.S. tariffs while bilateral negotiations remain under way, President Luiz Inácio Lula da Silva said on September 21. Washington imposed an additional 25% tariff on some Brazilian goods in July alongside separate 12.5% duties affecting Brazil and other economies, prompting Brasilia to initiate a process that could eventually lead to countermeasures; the decision to continue negotiating temporarily reduces the risk of another major tariff escalation in the Americas, although Brazil has made clear that reciprocal measures remain available if talks fail. Read more

Soaring freight costs squeeze Venezuelan oil exports

Reuters: Global oil traders are demanding deeper discounts on Venezuelan crude as surging tanker costs erode trading margins, with the cost of chartering an Aframax vessel from Venezuela to the U.S. Gulf rising from approximately US$1.35 million at the start of 2026 to US$3.5 million. Venezuela exported about 1.17 million barrels per day in August, but port congestion, long tanker waiting times and exceptionally high freight rates are creating new constraints just as the country seeks to expand petroleum sales; the episode illustrates how shipping disruptions can effectively operate as a major additional trade cost even when formal sanctions or market-access barriers are relaxed. Read more

AFRICA

Nigeria and United States sign mineral-investment framework

Government of Nigeria: Nigeria and the United States signed a mineral-investment framework in New York this week aimed at converting government cooperation into business-to-business investment across exploration, mining, processing, infrastructure and technical capacity. Nigeria estimates the potential value of its mineral resources at around US$700 billion and is explicitly seeking greater domestic processing rather than simply exporting unprocessed commodities; the agreement reflects an increasingly important African trade-policy objective—using global competition for lithium, nickel, cobalt, rare earths and other strategic minerals to attract investment into local value chains, jobs and industrial capacity rather than reproducing traditional extractive trade patterns. Read more

Kenya and UNIDO launch new industrial-development partnership

UNIDO: Kenya and UNIDO signed Programme for Country Partnership Kenya 2.0 for 2026–2030 on September 21, creating a platform to coordinate public and private investment in industrial policy, enterprise competitiveness, strategic value chains, industrial corridors and green manufacturing. The partnership is designed to accelerate structural transformation and greater value addition while mobilising innovative and blended finance, reflecting Kenya’s ambition to position itself as a manufacturing and green-industrialisation hub; its emphasis on connecting investment, infrastructure, skills and value chains demonstrates the increasingly deliberate industrial policy being pursued by several African economies seeking to capture a greater share of value from regional and global trade. Read more

East Africa accelerates integration of capital markets and digital infrastructure

East African Community: The EAC this week revived its Capital Markets Sub-Committee for the first time since 2019 to accelerate regional capital-market integration in preparation for the East African Monetary Union, while a separate EAC–IGAD initiative brought governments together to strengthen cross-border digital connectivity and regulatory harmonisation. Taken together, the initiatives illustrate that regional economic integration increasingly extends beyond tariffs and goods trade: integrated capital markets can mobilise investment across borders, while interoperable digital infrastructure and common policies can lower transaction costs and create larger markets for financial and digitally delivered services. Read more

OTHER MAJOR GLOBAL TRADE DEVELOPMENTS

Strait of Hormuz traffic falls to a fraction of normal levels

Reuters: Only two commodity vessels were recorded crossing the Strait of Hormuz on September 21, compared with ten the previous day and a pre-conflict average of approximately 125 large commercial vessels daily, although vessels operating without tracking transponders may not be captured in the data. The strait normally carries roughly one-fifth of global crude-oil and LNG supply, making continued disruption a major risk not only for energy prices but for freight, insurance and wider supply chains; for highly import-dependent Caribbean economies, sustained increases in energy and shipping costs can feed quickly into the landed cost of food, manufactured goods and other essential imports. Read more

US$1 billion Glencore deal highlights race for recycled critical minerals

Reuters: U.S. metals-refining company Nth Cycle signed a US$1 billion offtake agreement with Glencore covering lithium and other critical minerals recovered from used batteries, underscoring the growing commercial importance of recycling within strategic mineral supply chains. Governments and businesses are increasingly attempting to diversify sources of lithium, rare earths and other materials required for batteries, artificial intelligence infrastructure and clean-energy technologies, while recycling offers a way to reduce dependence on newly mined supply; the agreement therefore reflects the wider restructuring of global trade around secure, traceable and increasingly circular critical-mineral value chains. Read more

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