CASTRIES, St Lucia – The Organisation of Eastern Caribbean States (OECS) Commission, in collaboration with the International Trade Centre (ITC), successfully concluded two pivotal high-level events in Miami on 22 and 23 May 2025, aimed at bolstering investment facilitation reforms through the implementation of the Investment Facilitation for Development (IFD) Agreement at the World Trade Organization (WTO).
These events brought together ministers, heads of investment promotion agencies, and representatives from key international organisations to advance efforts in creating more transparent, efficient, and predictable investment environments. The events were held at the W Hotel in Miami.
The events commenced on May 22, 2025, with the OECS Investment Facilitation Self-Assessments: Strategies to Enhance the Investment Climate and Attract Sustainable FDI. Organised by the International Trade Centre (ITC) and the OECS Commission, this session focused on reviewing and finalising the categorisation of IFD provisions for notification to the World Trade Organization (WTO). Six OECS countries—Antigua and Barbuda, Dominica, Grenada, Saint Lucia, Saint Vincent and the Grenadines, and Saint Kitts and Nevis—had completed draft investment facilitation self-assessments in September 2024, providing a foundation for discussions on implementation strategies and capacity building to attract high-quality, sustainable investment.
Following this, the strengthening investment facilitation in the Caribbean region high-level event took place on May 23, 2025. The Inter-American Development Bank (IDB) partnered with the OECS Commission and the ITC to facilitate this second event. In addition to OECS countries, it also involved several member states of the Caribbean Community, the Dominican Republic and Ecuador. Investors and private sector stakeholders were also present.
This gathering aimed to raise awareness and understanding of the developmental impacts of Foreign Direct Investment (FDI) and the transformative potential of the IFD Agreement for the Caribbean’s investment landscape. Speakers from the private sector shared insights on the importance of investment facilitation for their operations, fostering an exchange of experiences on the value of the IFD Agreement within national development plans and the associated technical assistance support.
Dr Didacus Jules, director general of the OECS Commission, emphasised the critical need to “reimagine investment as a pathway to inclusive prosperity”. He highlighted that while FDI has historically been a cornerstone of economic strategy in the OECS, contributing significantly to GDP, job creation, and infrastructure development, traditional models require reassessment due to vulnerabilities like volatility, intra-regional competition, shallow linkages, and environmental and social risks. D. Jules advocated for a new investment paradigm that is strategically diversified, socially inclusive, and environmentally sustainable, integrating diaspora capital, community financial institutions, and domestic entrepreneurship.
The Investment Facilitation for Development (IFD) Agreement, finalised at the 13th WTO Ministerial Conference in February 2024, is a landmark accord endorsed by 126 WTO members. Its core purpose is to enhance transparency, streamline administrative procedures, and promote international cooperation to facilitate FDI flows, particularly to developing and least-developed countries (LDCs), thereby contributing to their sustainable development objectives.
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.
The post OECS Commission – Development Partners conclude events focused on strengthening investment facilitation for sustainable development appeared first on Caribbean News Global.
