WILLEMSTAD - Following the approval of the treaty by the Dutch Kingdom government, which was negotiated with CARICOM, Prime Minister Gilmar Pisas signed the treaty for Curaçao’s admission as an associate member of CARICOM on July 28.
As previously indicated by Prime Minister Pisas, this membership is a significant achievement for Curaçao, as being an associate member of CARICOM will allow Curaçao to benefit in various areas where there is a common interest with other Caribbean nations.
Contrary to the negative impressions created by the Curaçao Manufacturers Association (CMA) through media communications, CARICOM is not focused solely on trade, nor is there any threat to local manufacturers!
This information is completely misleading and is causing unnecessary panic in the community.
Firstly, in accordance with the Treaty of Chaguaramas that established CARICOM, CARICOM members cooperate on various fronts, including: coordination of foreign policy for the Caribbean region, job creation, and the human and social development of residents in CARICOM territories, regional security (including the fight against organized crime and terrorism in the region), and economic integration.
Secondly, as an associate member, Curaçao is not obligated to form a common market or to fully eliminate import duties on all products with CARICOM member countries.
However, where there are advantages, Curaçao can always opt for bilateral trade agreements with individual CARICOM members.
This will always mean an expansion of the market for our exporters, but also a channel to obtain better prices for products such as agriculture, which generally tend to be priced lower compared to imports from North America and Europe.
In this context, Curaçao has recently expanded the countries from which we can import meat within the region to ensure better prices for local consumers.
Considering the aforementioned benefits, Curaçao has already begun negotiations with different CARICOM members, such as the Dominican Republic, Trinidad and Tobago, and soon Suriname, to establish trade agreements with these countries in the future. This will help expand our market and facilitate lower prices for the people of Curaçao, especially in the area of food.
These agreements are, of course, based on reciprocity in regulations: what applies to the country in question will also apply to Curaçao.
The government will always ensure a balance between the rights of importers and exporters, based on existing laws in our country.
According to the international trade regime of Curaçao, our laws have sufficient instruments and also an official government institution (Fair Trade Authority Curaçao - FTAC) to guarantee healthy competition across all markets for services and products, including locally produced products and those imported.
Additionally, all agreements include mechanisms for both parties to act properly against foreign companies that violate established regulations.
Contrary to what has been presented in local media by the Curaçao Manufacturers Association (CMA), Prime Minister Pisas praised the positive stance of the Curaçao Importers Association (Belangenvereniging Curaçaose Agenturen - BVCA), which sees possibilities and advantages that can arise from Curaçao's association with CARICOM.
Everything takes time, and the government of Curaçao believes that we must organize ourselves in such a way that both the public and private sectors as a whole benefit from CARICOM membership.
Finally, Prime Minister Pisas emphasized that we must not forget that international trade encompasses much more than just the import of products, as Curaçao is also extremely interested in collaborating with other countries in the region on areas with great potential to create more job opportunities, such as renewable energy, new forms of agriculture, telecommunications, and other areas that we need to ensure sustainable development for our country, such as the development of our human capital and increasing the resilience of small islands against climate change.
This area of management has great potential for our future as Small Island Development States (SIDS).
In the first meeting with Prime Minister Pisas, other government leaders from CARICOM member countries expressed concrete interest in working with Curaçao, especially given our strategic position, natural harbors, and infrastructure, which allow for well-developed services. This makes it possible for Curaçao to serve as a hub for trade in the Caribbean.
Therefore, Prime Minister Pisas believes that we cannot lose this opportunity to make Curaçao the pearl of the Caribbean that it deserves to be!