Connect with us

Caribbean News

CARICOM Leaders team up for Summit in Saudi Arabia

Published

on

Joint Statement, Saudi Arabia – CARICOM Summit

 

Andrew Holness

November 25, 2023 – At the kind invitation of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, King of the Kingdom of Saudi Arabia, the Leadership of Saudi Arabia and the Leaders of the Caribbean Community (CARICOM) met in Riyadh, on 16 November 2023 for the inaugural Saudi Arabia-CARICOM Summit. The Summit was co-chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, His Excellency Roosevelt Skerrit, Prime Minister of Dominica, with the participation of Heads of State and/or Government of CARICOM and the CARICOM Secretary-General.

Prime Minister the Hon. Gaston Browne

Reaffirming their mutual interests and friendly relations, the leaders exchanged views on issues of common interest and discussed ways to further expand and advance their partnership to take advantage of the growth opportunities that can be utilized through cooperation between their two dynamic regions based on a shared vision and the values embodied in the United Nations (UN) Charter. The leaders hereby declare to:

  1. Join efforts to promote peace, security, stability and prosperity, through mutual respect and cooperation between countries and regions, to achieve sustainable development and progress and maintain the rules-based international order based on adherence to international law and the UN Charter.
  2. Undertake consultations and explore cooperation on specific areas of common interest between both sides, namely education scholarships), health, maritime cooperation, connectivity, logistics, food security, energy security, tourism economic and other possible areas of cooperation, where appropriate, including the Sustainable Development Goals (SDGs).
  3. Strengthen ties between the two sides, at the multilateral and bilateral levels, and in global fora by pursuing opportunities for sustainable development, peace, security and stability, tourism infrastructure development, as well as creating business opportunities in the ICT/Global Digital Services sector and boosting trade and investment flows by creating mutually beneficial opportunities for joint investments, with special emphasis on

    Hon Mia Amor Mottley

    sustainable infrastructure, renewables, trade, tourism, logistics, and connectivity.

  4. Promote trade and investment relations between Saudi Arabia and CARICOM, by enhancing public-private partnership and business-to-business relations between both regions, using available and new physical and online platforms, trade missions, exhibitions, seminars, conferences, and dialogue.
  5. Support Saudi Arabia’s bid to host Expo 2030 in Riyadh, highlighting the importance of organizing regional and international exhibitions to reenergize economic and cultural exchanges between the Saudi Arabia and CARICOM, mindful that individual CARICOM Member States have pledged their support for Saudi Arabia’s candidature to host Expo 2030.
  6. Cooperate in the development of sustainable and circular agriculture and in the promotion of sustainable food production, sustainable use and management of water resources and promote trade and investment opportunities in food and agri-based industries and encourage the exchange of information, sharing of experiences, research, modern technologies and best practices, as well as through conducting capacity building

    President Dr. Irfaan Ali

    activities.

  7. Promote dialogue among the peoples and cultures of both sides to enhance trust, and advance mutual understanding and greater respect for diversity, thus contributing to a culture of peace.
  8. Build on the two regions’ cultural diversity, openness and rich history to stress that tolerance and peaceful coexistence are among the most important values and principles for friendly relations between nations and cultures.
  9. Promote the cultural and creative industries of CARICOM and Saudi Arabia through cultural festivals, art exhibitions, film festivals, workshops, book fairs and other events. Furthermore, encourage
    the exchange of best practices and capacity building in the areas of museology, protection, conservation and restoration of cultural and historical heritage.
  10. Promote cooperation in the area of tourism, including heritage, cruise, sustainable and ecotourism, medical and wellness, tourism, by undertaking benchmarking activities, joint tourism investments, and strengthening capacity-building.

    Hon Dr. Terrance Drew

  11. Stress the importance and urgency of promoting joint action towards mitigating climate change and adapting to its impacts, protecting the environment and developing low carbon and clean energy technologies.
  12. Reaffirm the importance of working together to confront the global challenges related to climate change, committing to all efforts to address this urgent issue by setting and achieving ambitious goals to reduce emissions, adopting renewable energy production, and clean technologies including for abatement and removal, promoting equitable promoting equitable access to climate financing for Small
    Island Developing States (SIDS) to support mitigation and adaptation measures, and finding innovative technical solutions that will accelerate the transition to low-emission economies, and continuing to
    explore sustainable and inclusive pathways to implement the goals of the Paris Agreement.
  13. Welcome Saudi Arabia’s Middle East Green Initiative (MGI), and its announcement to establish and host a

    Prime Minister Honourable Dickon Mitchell

    dedicated MGI Secretariat and allocate US $2.5 billion to support MGI projects and governance.

  14. Support the announcement by Saudi Arabia about the establishment of an international water organization based in Riyadh, calling for further decisive global action.
  15. Stress the important role that CARICOM and the Saudi Arabia can play in hosting major sporting events, the Summit endorsed the candidacy of Saudi Arabia to host the 2034 FIFA World Cup. And Welcoming that the Caribbean will host the ICC T20 World Cup in 2024 and Saudi Arabia to host the 2034 FIFA World Cup.
  16. Recognize the important initiatives arrived at by Saudi Arabia and CARICOM in their respective regions, and decided to hold the Second Saudi Arabia-CARICOM Summit in 2026.

    John Briceno

  17. CARICOM Leaders expressed their appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, King of Saudi Arabia, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud Crown Prince and Prime Minister of the Kingdom of Saudi Arabia and to the Government and People of Saudi Arabia for their hospitality.

Prime Minister, Hon. Philip J. Pierre

Issued in Riyadh, Kingdom of Saudi Arabia on 16 November 2023

 

 

 

 

 

CAPTIONS

Header: CARICOM IN SAUDI ARABIA

1st insert Prime Minister Andrew Holness: At the invitation of the Crown Prince of Saudi Arabia, His Royal Highness, Mohammed bin Salman Al Saud, I am in the Kingdom of Saudi Arabia with fellow Caricom Heads, for the inaugural Caricom-Saudi Arabia Summit in the capital city of Riyadh.

I extend thanks to His Royal Highness Mohammed bin Abdulrahman bin Abdulaziz, Deputy Governor of the Riyadh Region for the warm welcome following my arrival at the King Khalid International Airport today.

Jamaica continues to pursue investment and partnership opportunities for our national development and looks forward to robust discussions with Saudi Arabia, for our mutual benefit.

2nd insert: Prime Minister the Hon. Gaston Browne and members of the Antigua and Barbuda delegation departed the Kingdom of Saudi Arabia for the Caribbean on Friday following a successful First CARICOM/Saudi Arabia summit in Riyadh.

3rd insert: Ahead of the inaugural Saudi Arabia-CARICOM Summit, Hon Mia Amor Mottley, Prime Minister of the Republic of Barbados held talks with Their Excellencies Mohammed bin Abdullah Al-Jadaan, Minister of Finance and Khalid Al-Falih, Minister of Investment of the Kingdom of Saudi Arabia to follow-up on a number of discussions already in progress.

4th insert: President Dr. Irfaan Ali and other CARICOM leaders held a round table meeting with members of the Saudi Arabian Government today as part of the CARICOM-Saudi Arabia Summit.

The CARICOM delegation also met with the Crowned Prince, HE Mohammed bin Salman Al Saud.

The one-day event is being held in the capital city of Riyadh.

5th insert: CARICOM-Saudi Arabia Summit – Welcoming His Royal Highness, Crown Prince Abdulaziz bin Salman, Minister of Energy seen here with Hon Dr. Terrance Drew, Prime Minister of St Kitts and Nevis.

6th insert: Prime Minister Honourable Dickon Mitchell, alongside fellow Caribbean Heads of Government, actively participated in a Saudi–CARICOM Investment Roundtable. The session welcomed prominent figures from major Saudi private sector companies, fostering an environment conducive to exploring investment prospects.

The primary goals of this meeting were to spotlight the appealing investment landscapes in both the Kingdom of Saudi Arabia and the CARICOM countries. Additionally, it aimed to forge new partnerships between entities from CARICOM nations and Saudi Arabia, with a specific focus on identifying investment opportunities within the Caribbean and establishing robust connections with Saudi companies.

This collaboration underscores our commitment to cultivating mutually beneficial partnerships that enhance economic growth and development in our nation.

7th insert: We thank our new bilateral partner Saudi Arabia for hosting our Belize delegation and those of our CARICOM Countries as we arrive in Riyadh to participate in the Saudi-CARICOM Summit.

I thank Governor of Riyadh Region Prince Mohammed bin Abdulrahman bin Abdulaziz and his delegation for the warm welcome at the King Khalid International Airport.

8th insert: Prime Minister, Hon. Philip J. Pierre, forms part of the official delegation of CARICOM Heads of Government (HoGs) that will participate in the inaugural CARICOM-Saudi Summit (The Summit).

The Kingdom of Saudi Arabia will receive the Prime Minister and the accompanying delegations of CARICOM HoGs for The Summit. The Summit will commence on November 16, 2023.

The Summit facilitates opportunities for Saint Lucia and CARICOM to extend avenues of cooperation on trade and investment, renewable energy, climate change and sustainable development with the Kingdom of Saudi Arabia.

Under the stewardship of Prime Minister Pierre, diplomatic relations between the Government of Saint Lucia and the Kingdom of Saudi Arabia have elevated – yielding significant inflows of financing support for capital projects and technical cooperation to advance the development of productive sectors, key to the development of Saint Lucia’s economy.

Minister for Education, Hon. Shawn Edward, will act as Prime Minister of Saint Lucia from November 14, 2023 to November 18, 2023.

Continue Reading

Caribbean News

Royal Caribbean Group and Sandals Resorts Announce Landmark Partnership to Accelerate Their Leading Vacation Experiences

Published

on

Royal Caribbean Group Investment to Advance Sandals and Beaches’ Growth and Broaden the Group’s Vacation Portfolio

Montego Bay, Jamaica and Miami, September 24, 2026 – Royal Caribbean Group (NYSE: RCL) and Sandals Resorts today announced the signing of an agreement to form a partnership in the all-inclusive resort space with a 50% investment from Royal Caribbean Group.  Building on Sandals and Beaches Resorts’ more than four decades of leadership in Caribbean hospitality, the joint venture will create new opportunities for continued resort growth while broadening the experiences across Royal Caribbean Group’s vacation platform.

The partnership brings together two of the travel industry’s most celebrated vacation companies, pairing Sandals and Beaches’ all-inclusive resort expertise with Royal Caribbean Group’s vacation platform, including industry-leading brands – Royal Caribbean, Celebrity Cruises and Silversea – a portfolio of private destinations, new river cruising offering, and an industry-first loyalty program. United in a shared history in the Caribbean and connected by a love for their communities, the companies will offer travelers an unparalleled collection of cruise, private destination and resort experiences, serving guests across more vacation occasions and establishing their undisputed leadership in Caribbean vacations.

The joint venture expands Royal Caribbean Group into an adjacent vacation category, growing its participation in the approximately $2 trillion global vacation market, and meets the growing global demand for Sandals and Beaches Resorts by accelerating their expansion. The partnership will include Sandals and Beaches’ collection of premier all-inclusive properties across the Caribbean, and the companies will explore opportunities to broaden distribution, deepen guest engagement, and make it easier for travelers to discover vacation experiences offered across both portfolios.

“For nearly 60 years, we’ve reimagined what a vacation can be, constantly expanding the ways we inspire our guests to explore, connect and create lifelong memories,” said Jason Liberty, Chairman and CEO, Royal Caribbean Group. “We have been building a vacation platform that brings joy to millions of people around the world and creates meaningful relationships that last with our guests. Our partnership with Sandals and Beaches Resorts is an important next step on that journey – bringing together two iconic leading vacation companies to further strengthen and grow one of the most admired resort portfolios in the world. The Stewart family has created powerful and beloved brands, and we are honored to build on that legacy. Together, we see tremendous opportunity to expand the reach of Sandals and Beaches Resorts and continue turning the vacation of a lifetime into a lifetime of vacations.”

“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality. Today is proof of how far that vision can go,” said Adam Stewart, Executive Chairman of Sandals Resorts and Beaches Resorts. “This partnership is the natural next step in building on that conviction. It gives us the ability to grow faster with a partner that shares our values of exceptional hospitality, long-term investment, and the power of enduring brands. Together, we will introduce more guests to Sandals and Beaches Resorts while creating even more extraordinary experiences for those who have made our resorts part of their lives for decades.” Stewart added, “As we continue to grow, we will remain true to what has always defined us: delivering authentic vacations that exceed expectations while creating opportunities for our team members, travel advisor partners and the communities we call home. The future has never been brighter, and I know this moment would make my father incredibly proud.”

The joint venture will be governed by a board under the shared leadership of Stewart and Liberty. Stewart will maintain a leadership role in guiding the company’s long-term strategic growth as Executive Chairman of Sandals and Beaches Resorts. Existing reservations, loyalty programs, resort operations and cruise operations will continue as usual, with the partnership bringing additional resources to support future opportunities.

Under the terms of the agreement, Royal Caribbean Group will acquire a 50% equity interest in Sandals and Beaches Resorts for approximately $3 billion, representing a forward EBITDA multiple of approximately 10x.  Royal Caribbean Group has secured committed debt financing from Morgan Stanley to fund the investment.  The transaction is expected to close in early 2027, subject to customary approvals and closing conditions, and is expected to be accretive to earnings next year.

BofA Securities and PJT Partners acted as financial advisors, and Latham & Watkins and Jones Day acted as legal advisors to the Sandals Group. Perella Weinberg Partners and Morgan Stanley acted as financial advisors and Kirkland & Ellis LLP acted as legal advisor to Royal Caribbean Group.

PHOTO CAPTION: Jason Liberty, Chairman and CEO of Royal Caribbean Group, and Adam Stewart, Executive Chairman of Sandals Resorts, mark the signing of an agreement to form a landmark partnership that expands Royal Caribbean Group into the all-inclusive resort space and supports the future growth of Sandals and Beaches Resorts. The signing took place at Royal Caribbean Group’s new headquarters in Miami, with the city’s skyline in the background.

Continue Reading

Caribbean News

Royal Caribbean Signs US$3-Billion Deal for Half of Sandals and Beaches

Published

on

The Caribbean tourism deal first reported as a possibility on Tuesday is now a signed agreement. Royal Caribbean Group plans to pay approximately US$3 billion for a 50% stake in Sandals and Beaches Resorts, putting the value of the business at about US$6 billion. The purchase is expected to close in early 2027, subject to approvals.

Founded in Jamaica by the late Gordon “Butch” Stewart in 1981, the resort business has a presence across nine Caribbean destinations, including Jamaica, The Bahamas and Turks and Caicos. Sandals has described its workforce as nearly 20,000 people, most of them Caribbean nationals.

“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality,” said Adam Stewart in the announcement carried by PR Newswire. He will remain executive chairman, while the Stewart family retains a stake. The companies say existing reservations and resort operations will continue as usual.

Continue Reading

Caribbean News

Pres Ali declares three days of national mourning following MV Barima tragedy July 21, 2026

Published

on

His Excellency Dr Mohamed Irfaan Ali has declared three days of national mourning following the tragic loss of lives in the M.V. Barima incident, as the nation continues to grieve alongside the families and communities affected.

The period of national mourning will be observed from Wednesday, July 22, through Friday, July 24, 2026, in honour of the victims of the tragedy. During this time, the National Flag will be flown at half-mast on all Government buildings and other appropriate locations across the country.

As part of the observances, Wednesday, July 22, has been designated a National Day of Prayer. A National Day of Prayer and Remembrance will be held at the Kingston Seawall in Georgetown, bringing together citizens in solidarity to honour the lives lost and offer support to grieving families.

The programme of remembrance will continue with a Night of Reflection and Prayer in Port Kaituma on Thursday, July 23, followed by another observance in Mabaruma on Friday, July 24.

The government is also encouraging religious organisations, civic groups and citizens throughout Guyana to organise candlelight vigils and moments of prayer during the three days as the nation collectively reflects on the tragedy and pays tribute to the victims. The declaration of national mourning underscores the government’s commitment to standing with the bereaved families and affected communities as Guyana mourns one of the country’s most heartbreaking maritime tragedies.

Continue Reading

FIND US ON FACEBOOK

TRENDING