The OECS (Organisation of Eastern Caribbean States) Commission, in partnership with the International Trade Centre (ITC), successfully wrapped up two key high-level conferences in Miami on May 22 and 23, 2025. The sessions took place at the W Hotel in Miami.
OECS reports that the events focused on strengthening investment facilitation reforms through the implementation of the Investment Facilitation for Development (IFD) Agreement at the World Trade Organization (WTO).
What, exactly, is the IFD Agreement? According to the WTO website, the Agreement, objective is “facilitating the flow of foreign direct investment between the Parties [member states], particularly to developing and least-developed country Parties, with the aim of fostering sustainable development.” It also explains that 126 WTO members are part of this initiative, which had been six years in the making. It was finalized at the 13th WTO Ministerial Conference in February 2024.
In September 2024, six OECS nations—Dominica, Antigua and Barbuda, Grenada, Saint Lucia, Saint Vincent and the Grenadines, and Saint Kitts and Nevis—completed draft self-assessments of their investment facilitation measures. These served as a basis for discussions on implementation strategies and capacity-building efforts to attract high-quality, sustainable investments.
Attended by ministers, heads of investment promotion agencies, and representatives from major international organizations, the recent gatherings in Miami aimed to foster more transparent, efficient, and predictable investment environments.
Beginning on May 22, 2025, the first event was the OECS Investment Facilitation Self-Assessment: Strategies to Improve the Investment Climate and Attract Sustainable Foreign Direct Investment (FDI). Organized by ITC and the OECS Commission, this session centered on reviewing and finalizing the classification of IFD provisions for notification to the WTO.
The following day, on May 23, 2025, the “Strengthening Investment Facilitation in the Caribbean Region” high-level event was held. This gathering was facilitated through a partnership between the Inter-American Development Bank (IDB), the OECS Commission, and ITC. Besides OECS member states, the event also involved several Caribbean Community (CARICOM) countries, including the Dominican Republic and Ecuador. Private sector representatives and investors participated as well.
The purpose of this event was to enhance awareness about the developmental benefits of Foreign Direct Investment (FDI) and to highlight the transformative potential of the IFD Agreement for the Caribbean’s investment environment. Speakers from the private sector shared insights into how investment facilitation impacts their operations, fostering dialogue on the role of the IFD Agreement within national development strategies and the technical support available.
Dr. Didacus Jules, Director General of the OECS Commission, underscored the importance of “reimagining investment as a pathway to inclusive prosperity.” He emphasized that although FDI has traditionally played a vital role in the OECS economies—contributing notably to GDP, employment, and infrastructure—the existing models need reevaluation due to challenges such as market volatility, regional competition, limited local linkages, and environmental and social concerns. Dr. Jules called for a new approach to investment that is strategically diversified, socially inclusive, and environmentally sustainable—incorporating diaspora capital, community financial institutions, and local entrepreneurs.
“The successful conclusion of these events marks a significant step towards reinforcing national efforts on investment facilitation already underway in the Caribbean region, ensuring that FDI serves as a true catalyst for inclusive and sustainable development”, concluded the OECS Secretariat.
