In addition to the cooperation with the EU and UN, the Cabinet of the Special Envoy is also engaging in collaboration with Latin America and the Caribbean. The Caribbean parts of the Kingdom have a favorable position in relation to Latin American countries, which can yield economic benefits. Additionally, they provide a safe haven in the region in terms of security, and their legal framework generally aligns with international standards. However, the islands are currently not fully utilizing these strategic advantages.
The Cabinet of the Special Envoy aims to strengthen cooperation with Latin America and the Caribbean and capitalize on the economic opportunities. It also participates in trade missions in the region organized by the Kingdom or initiates its own trade missions.
The Cabinet has identified several priority countries or islands, including the Caribbean countries within the Kingdom, Colombia, Panama, the Dominican Republic, Trinidad and Tobago, Suriname, and Miami (USA).
The Caribbean islands have relatively small and expensive markets which can expose challenges in attracting investors and expanding trade opportunities with larger economies in the region. Additionally, the Caribbean islands compete with other (island) nations in the region, for example in the tourism sector.
By joining trade missions from the Kingdom or initiating the Cabinet’s own trade missions in the region for the BES-islands, the ties with priority (island) nations can be strengthened, and we can provide them with better insights into the economic opportunities within and related to the BES-islands.
