Kingdom of Saudi Arabia Hosts Inaugural Summit of CARICOM Leaders and Investment Forum

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His Majesty Salman bin Abdulaziz Al Saud, King of Saudi Arabia, representing the Custodian of the Two Holy Mosques, has extended a distinguished invitation to host the inaugural Summit of the leaders of the Caribbean Community (CARICOM).

Scheduled for November 16, 2023, in Riyadh, this high-level Summit will be followed by an Investment Forum
on November 17, 2023, marking a momentous occasion for the Caribbean region. The Summit, co-chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia, and the Honourable Roosevelt Skerrit, Prime Minister of Dominica and Chair of the CARICOM Conference of Heads of Government, aims to foster meaningful bilateral and
multilateral engagements with a non-traditional partner. he Summit saw a strong representation from Antigua and Barbuda.

The delegation of Antigua and Barbuda is composed of Ambassador Jefferey Hadeed (Non-Resident Ambassador to Italy), Ambassador Boris Latour (Ambassador to the United Nations in Geneva,to UNESCO and Ambassador-designate to France and Switzerland), Ambassador Colin Murdoch (OECS Ambassador to WTO), Ambassador Sami Al-Mufleh (Ambassador to Jordan), Ambassador Boustany (Ambassador to the UAE), who are all actively participating in the diplomatic dialogue.

The Prime Minister instructed his delegation to remain focus on fostering economic development for Antigua and Barbuda. The
Ambassadors have also engaged into productive discussions with Saudi private sector’s leaders to attract Foreign Direct Investment into the country. During the Summit, leaders have engaged in focused, in-depth discussions on mutual concerns at bilateral, inter-regional, and global levels, seeking to enhance economies, mobilize resources, build capacity, and create innovative opportunities for the Caribbean Community. The Summit will establish permanent and effective arrangements through the CARICOM-Saudi Arabia Forum, promoting shared principles, increased people-to-people contact, cultural heritage preservation, and addressing mutual concerns, including development issues and infrastructure challenges in the region.

Key areas of collaboration and discussion are including Agriculture and Food Security, Transportation, Renewable Energy, Health, Education, Climate Change and Finance, Tourism, and Investment. The CARICOM-Saudi Arabia Forum aims to deepen existing cooperation, sustain innovation, advance investment and trade, and address mutual concerns through well-established mechanisms. This historic event represents a pivotal step towards fostering a strong and enduring partnership between the Caribbean Community and Saudi Arabia, setting
the stage for mutually beneficial collaboration and progress.

Fostering trust, mutual respect, open dialogue, and communication are essential pillars that will underpin the historical Summit between CARICOM Member States and Saudi Arabia. This landmark event, co-chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud and the Honourable Roosevelt Skerrit, reinforces the commitment to meaningful partnership and highlights the crucial need for expanded international relationships.

Technical cooperation and assistance will play a vital role in advancing the capacities of CARICOM Member States and associated institutions to promote socio-economic development. During the Summit, Member States will explore opportunities to leverage Saudi Arabia’s resources, expertise, and financial capabilities across various sectors, including renewable energy, public health, education, and climate change adaptation. As global challenges loom large, the Summit underscores the necessity for expanded international relationships beyond traditional focuses and the significance of deeper engagement with Saudi Arabia in addressing these critical issues.

The CARICOM-Kingdom of Saudi Arabia Summit represents an unprecedented step in fostering a lasting partnership, addressing shared challenges, promoting economic growth, and nurturing cultural understanding. This collaboration signifies a devoted commitment to sustainable development, resilience against economic shocks, and the advancement of meaningful innovations.

Demonstrating a strong commitment to the region, the Kingdom’s ministerial cabinet has resolved to create a USD 1 billion fund dedicated to investments in the region, with intentions for the fund to become operational within the coming months. This achievement stands as a testament to the vision and leadership of The Honorable Prime Minister Gaston Browne, who has been instrumental in advancing this project from its inception.

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