CARICOM leaders move ahead with regional ferry initiative to reduce cargo costs

Barbados: Prime Minister Mia Mottley has announced that CARICOM leaders are moving forward with plans to establish a regional ferry service aimed at lowering the cost of transporting cargo between Caribbean islands and strengthening intra-regional trade.

Speaking on the initiative, Mottley said reducing the cost of inter-island cargo remains one of the region's top priorities. She noted that while a long-term ferry service is expected to be operated through private sector arrangements, sourcing suitable vessels could take up to a year.

To accelerate the process, discussions will begin between Barbados, Trinidad and Tobago, an St. Vincent and the Grenadines on the possibility of using one of Trinidad and Tobago's existing ferries as a pilot project. The temporary arrangement would serve as a proof of concept while governments complete the necessary regulatory work and the private sector secures dedicated vessels.

Mottley said she has undertaken responsibility for coordinating the legal and treaty arrangements needed to support the initiative. These include the mutual recognition of vehicle licences, insurance requirements and other regulations that would allow cargo vehicles to be transported efficiently between participating islands.

The initial phase of the project is expected to focus on the southern and eastern Caribbean. Governments will also assess whether ports require additional infrastructure, including ramps and other facilities in order to accommodate roll-on/roll-off ferry operations.

According to Mottley, the regional ferry service forms part of a broader strategy to reduce the cost of living by lowering freight expenses which ultimately influence the prices consumers pay for imported goods. She added that CARICOM governments are working collectively to shield citizens from imported inflation driven by global economic uncertainty and ongoing international conflicts.

The regional leaders are expected to continue discussions on the initiative as they work towards launching the pilot ferry service in the coming months.