Earlier this week at the UK Foreign, Commonwealth and Development Office (FCDO Services), The Honourable Camillo Gonsalves, Minister of Finance for Saint Vincent and the Grenadines (SVG), fielded questions from Amabilidad and all delegates for nearly four hours — sharing insights and opportunities for trade and investment.

 

How do you position a truly standout destination, of 32 islands and cays, in a region filled with breathtaking land and ocean archipelagos?

 

➡️ Well, Saint Vincent and the Grenadines has a big Win! A distinct advantage in this period of trade uncertainty, and that is The Port Modernisation Project.

​

💡 The Eastern Caribbean consists of around 20 main islands. All in close proximity to each other, with average flight times of 20-30 minutes. The region has a combined population of up to 5 million. Those 5 million individuals and businesses import goods annually to the value of approximately US $3.54 billion (ECCU - 2022 data).

 

💡 Historically, about 50-70% of the Eastern Caribbean's trade is handled through the United States. This includes goods, transiting through US ports for redistribution. Over two thirds of those goods originate from outside of the United States with China, by way of example, accounting for northwards of 20% of imports to the Eastern Caribbean.

 

➡️ In light of the recent (April 2025), US Administration's trade tariff policy changes, those same products are now subject to duty increases of between 10 - 25%.

 

What if many of those same goods could instead be, shipped to and distributed by, the new Port at Kingstown, Saint Vincent and the Grenadines, enjoying a potentially duty free trading relationship.

 

🎯 The Port Modernisation Project is part of the solution.

 

➡️ Work is well underway through 2025 with budgets set at ~US $250 million funded by: the Caribbean Development Bank US $110 million, The United Kingdom Caribbean Infrastructure Fund US $27 million and the state of Saint Vincent and the Grenadines US $105 million.

 

The Port Modernisation Project presents not alone an infrastructure investment opportunity but also scope for all of the far reaching service providers needed to ensure success.

 

It is a unique time to shape the future of trade in the region.