WILLEMSTAD – The monopoly held by Curaçao Ports Services (CPS) is hindering the island’s ability to withstand economic crises, according to former Minister Alex Rosaria. In an analysis published in local newspaper Èxtra, Rosaria warns that Curaçao is already feeling the effects of higher U.S. import tariffs, which have increased by approximately 10% for many countries in the region, including Curaçao.
Rising Import Costs Fuel Inflation
Rosaria explains that import taxes—levies on foreign products—inevitably lead to higher prices on the island. This, in turn, drives inflation and reduces consumer purchasing power. While authorities previously promised price reductions, they failed to account for the potential impact of a trade war with the United States. “Now we are facing reality,” Rosaria stated.
The former minister noted that Washington introduced the tariffs to boost American industries, but since factories cannot be built overnight, the increased import duties could backfire and trigger a global recession.
Curaçao’s Vulnerability and China’s Growing Influence
Curaçao does not export significant goods to the U.S. but is highly dependent on American imports. As import costs rise, the effects ripple through the entire economy. Additionally, Rosaria warns that U.S. policies could strengthen China’s influence in the region, impacting trade relations and potentially affecting international efforts to combat drug trafficking and illegal arms trade.
He stresses that Curaçao’s vulnerable position is worsened by its lack of coordination within the Caribbean Community (CARICOM). To counteract the economic strain, Rosaria calls on the government to:
Request formal technical documentation on U.S. import tariffs to develop a targeted response strategy.
Engage in diplomatic discussions with CARICOM and the U.S. to explore exemptions or tariff reductions.
Strengthen regional trade by investing in local agriculture and industrial production, reducing reliance on foreign imports.
Breaking the CPS Monopoly for Economic Stability
One of the key obstacles to Curaçao’s economic resilience, according to Rosaria, is the monopoly held by CPS over port operations. This restricts efficient and competitive logistics, further weakening the island’s economic stability.
To improve Curaçao’s ability to withstand global economic shocks, Rosaria urges the dismantling of the CPS monopoly, allowing for greater competition and efficiency in port operations. Such a move, he argues, would be a crucial step toward securing the island’s economic future.
