Caribbean Leaders Rally for Investment Reform to Boost Regional Growth

A central focus of the Miami dialogue was the WTO’s IFD Agreement, finalized in 2024 and backed by 123 WTO Members.

Government ministers, top private sector leaders, and international development organizations came together in Miami on May 23, 2025, to chart a course for a more investment-friendly Caribbean. The high-level forum, titled “Strengthening Investment Facilitation in the Caribbean Region,” was co-hosted by the Inter-American Development Bank (IDB), the International Trade Centre (ITC), and the Organization of Eastern Caribbean States (OECS). The event focused on harnessing the momentum behind the World Trade Organization’s Investment Facilitation for Development (IFD) Agreement to unlock foreign direct investment (FDI) and stimulate sustainable development across the Caribbean.

Advancing the WTO’s Investment Facilitation Agenda

A central focus of the Miami dialogue was the WTO’s IFD Agreement, finalized in 2024 and backed by 123 WTO Members. This landmark initiative aims to simplify and streamline investment procedures, increase transparency, and improve coordination among institutions. With several Caribbean nations—such as Barbados, Suriname, Belize, and the Dominican Republic—already endorsing the agreement, the region has signaled strong political will to push forward with necessary reforms.

Participants from across the Caribbean explored how the IFD Agreement can be a transformative instrument, providing the architecture for smarter regulation, harmonized investment processes, and digital infrastructure that eases investor entry. They also emphasized that aligning with global standards will enhance the Caribbean's competitiveness in a rapidly evolving investment landscape.

From Policy to Practice: Building a Conducive Investment Ecosystem

The discussions in Miami delved into concrete strategies to improve investment facilitation, with stakeholders highlighting the need for better inter-agency coordination, the use of digital platforms like Single Investment Windows, and a regulatory environment that supports private sector engagement.

Single Investment Windows—centralized digital portals that streamline investor interactions with government—were recognized as game-changers in building investor confidence and cutting red tape. When properly implemented, these platforms can greatly reduce the time and cost associated with starting a business or navigating regulatory approvals.

The event also spotlighted the importance of trade and investment facilitation tools that enable smoother flows of capital, innovation, and partnerships. Such initiatives, speakers argued, can not only catalyze economic growth but also address structural vulnerabilities in small island economies.

The IDB’s Role: Tailored Support for Institutional and Regulatory Reform

The Inter-American Development Bank outlined a series of initiatives designed to support Caribbean countries in making investment facilitation a development priority. These initiatives include:

• Tailored Technical Cooperation: Support for institutional reform and capacity building within national investment promotion agencies and related ministries.

• Regulatory Modernization: Assistance in drafting investment laws, improving dispute resolution mechanisms, and reducing administrative burdens for investors.

• Financing Instruments: Targeted financial support to implement reforms aligned with the IFD Agreement and national development goals.

Through these tools, the IDB is positioning itself as a long-term partner for Caribbean governments working to translate investment policy into practical, measurable outcomes.

Looking Ahead: Co-Designing Implementation Roadmaps

The forum concluded with a shared commitment to move from dialogue to implementation. A critical next step involves working closely with Caribbean governments to co-develop national roadmaps that reflect each country’s unique context and priorities.

This process will involve aligning technical assistance, financing, and policy reform strategies to ensure the full and effective application of the IFD Agreement. Partners pledged to maintain momentum by fostering regional collaboration, peer learning, and engagement with the private sector.

The event underscored the Caribbean’s readiness to enact strategic reforms that will enhance its attractiveness as a global investment destination. With the right mix of policies, institutional support, and digital innovation, Caribbean countries can foster resilient economies that create jobs, strengthen value chains, and deliver long-term benefits for their people.