OECS seeks expanded trade with Dominican Republic to lower import costs

Santo Domingo.- The Organisation of Eastern Caribbean States (OECS) is considering deeper trade ties with the Dominican Republic and Panama as part of efforts to lower consumer prices across the Eastern Caribbean.

Speaking after the OECS Summit in Antigua and Barbuda, Prime Minister Gaston Browne announced that the organization has requested a temporary suspension of the Common External Tariff (CET) to facilitate greater imports from non-CARICOM markets. The proposal aims to give member states access to more affordable goods and food products amid rising living costs.

Browne highlighted Panama’s role as one of the hemisphere’s largest commercial hubs and said the Dominican Republic could become a key supplier of competitively priced food and consumer goods. He noted that many products imported through traditional channels become more expensive before reaching Caribbean consumers, making direct trade with regional partners an attractive alternative.

To advance the initiative, the OECS has asked its commission to conduct a study identifying products that can be sourced at lower costs from the Dominican Republic. The organization also plans to engage with the Caribbean Community (CARICOM) on suspending the tariff framework. The move could strengthen trade between the Dominican Republic and Eastern Caribbean nations while helping reduce import costs and improve food security across the region.