by Curlan Campbell
- Signing took place on Tuesday, 29 July 2025, at AfriCaribbbean Trade and Investment Forum in Grenada
- Agreement outlines 9 key areas of cooperation, including joint economic and social development projects
- Memorandum of Understanding reflects shared commitment by both chambers to confront current regional economic challenges
A Trade and Business Development Cooperation Agreement was formally signed by the Trinidad and Tobago, and Grenada Chambers of Industry and Commerce in an effort to deepen regional cooperation and strengthen economic resilience.
The signing took place on Tuesday, 29 July 2025, at the AfriCaribbbean Trade and Investment Forum (ACTIF2025) in Grenada, signalling a new chapter of private sector leadership in Caricom’s integration agenda.
The agreement was signed by Sonji Pierre-Chase, the newly appointed and first-ever attorney President of the Trinidad and Tobago Chamber of Industry and Commerce, and Collin Francis, President of the Grenada Chamber of Industry and Commerce (GCIC).
“This was an initiative we had reached out to our counterparts, the president of the Grenada Chamber, to sign a trade and business alliance agreement,” said Pierre-Chase. “It is based on all themes for this year of driving Caribbean resilience and where we see the private sector collaborating on initiatives that are mutually beneficial to our membership, to really upscale and build that resilience.”
The agreement outlines 9 key areas of cooperation, including joint economic and social development projects, sharing and conducting research on high-potential sectors, promoting cultural exchange, capacity building, and technical knowledge transfer. It also focuses on coordinating trade missions, facilitating government and stakeholder linkages, supporting trade initiatives, and addressing market access barriers through collaboration.
The Memorandum of Understanding reflects a shared commitment by both chambers to confront current economic challenges in the region by strengthening trade and investment ties, leveraging the chambers’ role as sustainable platforms for advancing regional economic integration. The parties have pledged to add value to their respective members through strategic collaboration.
Pierre-Chase emphasised the significance of intra-regional collaboration, especially as Caricom looks to scale up economic ties with Africa. “If we’re looking to develop and encourage trade between Caricom and the African continent, we in Caricom need to build our scale and develop our own linkages within our membership, and I think today’s signing ceremony really is an impetus to get us in that direction.”
Speaking on capacity-building efforts under the agreement, Pierre-Chase said, “This agreement covers both technical capabilities and enhancements. So where we see our assistance coming in is where we could mutually exchange information and ideas to build each other’s capacity… technology innovation, information development, we really want to use, where we have an advantage, to assist them.” She also highlighted a significant challenge that the region must tackle: ensuring the seamless movement of people. “I think the main one is the movement of people… that movement of people seamlessly throughout the region is one of the top priorities. We have to be able to tap into where we have talent, wherever in the community.”
Francis hailed the agreement as both timely and transformative. “It is a pleasure and an honour to welcome you all to this important occasion, one that signifies a formal agreement, and a deeper, more deliberate commitment to regional economic integration led by the private sector.” He continued, “This agreement represents exactly that. It is a practical expression of what functional cooperation can look like when built around the needs of our members, our SMEs, and our communities. It reflects the reality that we are stronger when we act together, rather than in parallel.”
The agreement is closely aligned with the goals of the Caribbean Single Market and Economy (CSME), including the free movement of services, goods, skills, and capital. Francis added, “This signing is a beginning. A beginning of closer ties between our business communities… and a beginning of more chambers stepping forward as leaders in shaping the region we want to see.”