OVERVIEW OF THE CPSO
Engaging the private sector like never before!
Who We Are
The CARICOM Private Sector Organization (CPSO) is the most recently accredited Associate Institution of the Caribbean Community. The CPSO is a ‘Service Organization’ to mobilize and advance private sector participation in CARICOM, with a mandate to contribute to the full implementation of the CARICOM Single Market and Economy (CSME). The membership of the CPSO is comprised of private sector entities operating in the CARICOM space, including Micro, Small and Medium Sized Enterprises (MSMEs).
Background
CARICOM Heads approved the formation of the CPSO, and designated it an Associate Institution of the Community at the Fortieth Regular Meeting of the Conference of Heads of Government, in Saint Lucia in July 2019. The CPSO is a service organization to mobilize and advance the deeper involvement and more structured participation by the Private Sector in the CARICOM integration process. The CPSO is mandated to contribute to the full implementation of the CARICOM Single Market and Economy (CSME)
Our Mission
To encourage and facilitate better coordination and complementarities among regional private sector entities in relation to priority policy recommendations and projects in support of the CSME.
Purpose
To provide a driving force to the CARICOM Heads of Government to support the full implementation of the CARICOM Single Market and Economy (CSME) within five (5) years.
Vision
CARICOM functions well as a regional Single Market and Economy providing larger and more efficient markets for the free movement of goods, services, people, capital, technology, and ideas.
Genesis
3-4 December 2018, Trinidad and Tobago– Eighteenth Special Meeting of the Conference of Heads of Government of the Caribbean Community – The St. Ann’s Declaration agreed on a formalised, structured mechanism to facilitate dialogue between the Councils of the Community and the private sector and labour;…Also agreed to amend the Treaty to include as Associate Institutions representative bodies of Private Sector and Labour.”
3-5 July 2019, Saint Lucia – Fortieth Regular Meeting of the Conference of Heads of Government – CARICOM Heads approved the formation of the CPSO and designated it an Associate Institution of the Community. The CPSO as the “Apex” private sector institution will provide for the deeper involvement and more structured participation by the Private Sector in the CARICOM integration process. The CPSO is mandated to contribute to the full implementation of the CARICOM Single Market and Economy (CSME).
18-19 February 2020, Barbados – 31st Intercessional Meeting of Heads of Government of the Caribbean Community – CPSO presented on the “Twenty-five by 2025” Mandate received from CARICOM Heads of Government to reduce the Regions’ extra-regional import bill by 25% by 2025. CPSO presented on seven (7) priority products.
29th October 2020, Virtual – 41st Regular Meeting of the Conference of Heads of Government – CPSO was officially conferred the status of an Associate Institution of the Caribbean Community.
16th November 2020, Virtual – The CPSO signed the Headquarters Agreement with the Government of Barbados, establishing the official seat of the CPSO Technical Secretariat.
3rd December 2020, Virtual – The CARICOM Private Sector Organization (CPSO) and the Caribbean Community (CARICOM) signed a Memorandum of Understanding, which establishes the legal framework for cooperation and collaboration between the Private Sector and the Community, as mandated by the Conference of Heads of Government of the Caribbean Community.