Strengthening Curaçao’s Economic Future: Curaçao and Trinidad Strengthen Trade Ties

Curaçao and Trinidad and Tobago are making notable progress toward finalizing a Partial Scope Trade Agreement (PSTA) aimed at strengthening economic cooperation. This agreement will reduce tariffs on specific goods and services, creating opportunities for Curaçao to expand trade, attract investments, and enhance its economic competitiveness.

The process began with the signing of a General Framework Agreement in November 2022. By July 2024, the first round of negotiations in Curaçao addressed key topics such as market access, rules of origin, and trade facilitation. The second round, held in December 2024 in Port of Spain, marked significant advancements in technical barriers to trade, competition policy, and investment opportunities.

A highlight of these discussions was the recognition of the recently launched shipping route between both nations as a vital connection, improving trade efficiency and reducing costs. President of the Permanent Commission for International Trade and Foreign Economic Relations and Chief Negotiator for Curaçao, Dr. Caryl Monte, said: “Over the last decade, Trinidad and Tobago has shown actual interest in trade with Curaçao as evidenced by various investments and acquisitions by Trinidadian companies and investors. There are still many opportunities for our companies to trade in each other’s jurisdictions.”

For Curaçao, the agreement represents far more than increased exports; it positions the island as a competitive trade hub. Local businesses stand to benefit from reduced tariffs, particularly in sectors like manufacturing, agriculture, and services, while clearer trade frameworks encourage investment and joint ventures.

The third and potentially final round of negotiations is scheduled for February 2025 in Curaçao, bringing both countries closer to finalizing an agreement that promises long-term economic benefits and deeper regional integration. This milestone underscores Curaçao’s commitment to growth, innovation, and fostering partnerships that will drive the island towards a prosperous economic future.