Pulse of the Caribbean

#53 Caribbean News Round Up Episode 2 Week of June 2

• Pulse of the Caribbean

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Caribbean nations are making significant economic, trade, and security advancements with the Bahamas gaining OECD approval, the Dominican Republic setting agricultural export records, and regional security cooperation strengthening through high-level diplomatic visits. These developments demonstrate the region's growing global influence and commitment to international standards while addressing domestic challenges through innovative policy approaches.

  • The Bahamas achieves OECD approval for economic substance monitoring, joining nine other no-tax jurisdictions meeting international standards
  • Dominican Republic closes record-breaking agribusiness deals with buyers from 33 countries. 
  • China extends visa-free access to Latin American countries to boost trade relations
  • Grenada hosts high-level policy dialogue on regional disability inclusion 

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Speaker 1:

This is the Pulse of the Caribbean Caribbean News Roundup. Now today's Caribbean News Headlines.

Speaker 2:

This podcast is brought to you by Victory Run Walk, sponsored by the US Virgin Islands Department of Tourism. Register now for the 5K, 10k and Half Marathon. Labor Day weekend St Thomas, us Virgin Islands, and Diamond Key. Marina, yosemite, british Virgin Islands. Home of Foxy's Taboo and Gateway to the Bubbly Pool, a natural jacuzzi and hidden gem.

Speaker 2:

Welcome to pulse of the caribbean news roundup, episode two for the week of june 2nd. Here's a look at what's making caribbean headlines. We start a report in the bahamas. The bahamas ministry of finance announced that the organization for Economic Cooperation and Development's Forum on Harmful Tax Practices has reviewed and approved the Bahamas' fully equipped monitoring mechanism for economic substance regime oversight without questions or objections. The Bahamas is one of 10 no-tax or nominal tax jurisdictions to meet the Organization for Economic Corporation and Development's economic substance requirements. The British Virgin Islands, barbados, Turks and Caicos, bermuda, cayman Islands and Angola are the others. The statement added that the comprehensive monitoring mechanism guarantees legal entities in the Bahamas meet international economic substance requirements. It evaluates four key areas the Bahamas' readiness and ability to enforce compliance, monitoring resources, compliance evaluation processes and risk identification and response. The Bahamas Ministry of Finance will continue to collaborate with key regulators to uphold these standards. These include the Attorney General and Ministry of Legal Affairs, securities Commission, central Bank Compliance Commission and Insurance Commission. The Bahamas Ministry of Finance said those authorities will collaborate to ensure the Bahamas legal framework and compliance monitoring systems meet worldwide standards. Legal framework and compliance monitoring systems meet worldwide standards. The Bahamas follows the Organization for Economic Cooperation and Development's economic substance regulations, including its 15% corporate minimum tax. The domestic top-up tax is estimated to generate $130 million in the 2025-2026 budget cycle.

Speaker 2:

Our next stop is the Dominican Republic. The Dominican Republic's Agribusiness Board, jad, and the Export and Investment Center. Pro Dominican stage the 2025 Agribusiness Fair, where the Dominican Republic closed more than 528.6 million US dollars in deals, solidifying its position as the region's top exporter of agricultural products. This is the most successful fair to date, with a record figure that represents a 28.9% increase over previous editions. The event, which was attended by 160 domestic and 200 foreign businesses, brought in 200 purchasers from 33 nations, demonstrating the need for the Dominican Republic's agri-food goods around the world. Aruba is estimated at $98.6 million US dollars, the United States at 63.3 million and Puerto Rico at 60.3 million. They were among the nations producing the biggest business volumes. Antigua and Barbuda, spain, cuba, the Netherlands and Guadalupe were next in line Fruits account for $236.2 million, vegetables at $94.9 million, dairy and eggs at $34.1 million, tobacco at $28.3 million and coffee at $25.4 million. These were among the top performing product groups for the Dominican Republic. Osmar Benitez, president of JAD, the Dominican Republic's agribusiness board, commended the robust participation of Dominican exporters and producers, emphasizing their function in showcasing the nation's agricultural capabilities to global markets.

Speaker 2:

In other news out of the Dominican Republic, in an effort to modernize its national police, improve citizen security and rebuild public confidence in law enforcement, the Dominican Republic's President, luis Abinader, introduced a new police service and patrol model as a pilot program with more than 1,100 highly trained officers. The project, which is presently being implemented in several important areas of greater Santo Domingo, introduces a data-driven, community-focused approach. This new approach, which combines community outreach, cutting-edge technology and strategic planning, signifies a structural change in police operations. Heat maps, real-time data analysis and standardized patrol procedures will be all used by officers to combat crime in high-risk regions. Dark blue uniforms with body cameras, visible ID badges, qr codes and agronomic designs are among the new elements that will improve officer performance and transparency. The Dominican Republic's Minister of Police and the Interior credited constant police training and reform of the Dominican Republic's reputation as the Caribbean's safest nation. As the Caribbean's safest nation. To guarantee ongoing efficacy and response to public concerns, the initiative will be continuously watched under President Luis Abidinez's direct supervision through a joint task force.

Speaker 2:

Now on to Barbados. The regional police system, said Her Majesty Princess Anne the Princess Royal. Police systems, said Her Majesty Princess Anne the Princess Royal visited the Regional Security Systems headquarters on Monday June by the British High Minister to Barbados and the Eastern Caribbean, his Excellency Simon Mustard and her private secretary, captain John Boyd. The Princess Royal was given a virtual tour of the regional security system operating duties during her visit, demonstrating the organization's vital role in securing and stabilizing its eight member states. Regionalism, intelligence sharing and technology to improve public safety were stressed on the tour. His Excellency Simon Mustard said our shared commitment to regional security and resilience continues to grow and I'm proud of the enduring partnership between the United Kingdom and our Caribbean allies. He stressed the importance of international collaboration and the UK's support for regional security initiatives. The regional security system is a cooperative security treaty organization for Eastern Caribbean defense and security. It consists of island paramilitary troops and Barbados and Antigua military personnel, antigua and Barbuda, dominica, st Lucia, st Vincent and the Grenadines, st Kitts and Nevis, grenada and Barbados are regional security system members. The regional security system is based in Barbados.

Speaker 2:

Next up, china expands visa-free access for Latin America to boost trade ties. After this, get ready for Victory Run Walk 2025. Registration is open for the Virgin Islands 5K, 10k and half marathon. Register at VictoryRunWalkVIcom.

Speaker 2:

Whether you're a Caribbean national or just want to learn more about the Caribbean, you've got the right podcast. In our newest feature, the Pulse of the Caribbean podcast interview segment, episode number 50, meet Israel Peterson, culture bearer and teacher, as he shares the rich tradition of Mukajumbi still dancing and its deep cultural significance in the US Virgin Islands. His passion for preserving this African heritage shines through as he recounts his personal journey from childhood fascination to becoming a master practitioner. Pulse of the Caribbean podcast Listen online on our website, pulseofthegribeancom or your favorite streaming platform. This is the Pulse of the Caribbean News Roundup, episode 2 for the week of June 2nd.

Speaker 2:

Beginning June 1st 2025, citizens of Brazil, argentina, peru, chile and Uruguay will be able to enter China without a visa for up to 30 days for business, tourism, cultural exchange or transit. The Chinese Foreign Ministry recently established a trial policy that will last until May 31, 2026. This policy, announced at the fourth ministerial meeting of the China and the Community of Latin America and Caribbean States CELAC Forum in Beijing earlier this year, is consistent with China's broader initiative to expand visa exemptions and foster friendly exchanges with more Latin American and Caribbean countries. For Chinese enterprises with trading relations in the region, the initiative is seen as a long-awaited step toward real collaboration. And here's our final note.

Speaker 2:

The Grenada government and regional and international partners are holding a high-level policy dialogue on disability inclusion from June 2nd through June 4th that begins today. This important event promotes inclusive development on disability rights and opportunities through the Caribbean. Ministers, policymakers, representatives of organizations of persons with disabilities, development agencies and civil society leaders from throughout the region will attend the two-day dialogue. Disability inclusion in national policy, public services and development planning will be discussed. Recent regional initiatives, such as the Caribbean Development Bank 2024 Draft Regional Disabilities Assessment Report, have highlighted issues like limited access to services, underrepresentation in policymaking and the need for stronger legal protection for people with disabilities. Grenada will also discuss its disabilities inclusion efforts, including recent accessibility assessments of facilities, services and policies. Anticipated dialogue results include a regional disability inclusive policy and program blueprint, initiatives to improve education, employment and infrastructural accessibility, strategies to improve data collection and stakeholder engagement and mechanisms for disabled people to participate in policymaking. The two-day debate supports worldwide disability inclusion efforts, as reiterated by the Caribbean Development Bank during the Worldwide Disability Summit in 2025.

Speaker 2:

This podcast is brought to you by Victory Runwalk, sponsored by the US Virgin Islands Department of Tourism. Register now for the 5K, 10k and half marathon. Labor Day weekend St Thomas, us Virgin Islands, and Diamond Key, marina, yosvendike, british Virgin Islands. Home of Foxy's Taboo and Gateway to the Bubbly Pool, a natural jacuzzi and hidden gem. Have news and information you'd like to share with us. Send news releases to news at pulseofthecaribbeancom. If you have an interest in sponsoring or advertising on our podcast, email us at biz B-I-Z at pulseofthecaribbeancom. This has been your Pulse of the Caribbean News Roundup, episode 2 for the week of June 2nd. I'm Keisha Blyden. See you next time.

Speaker 1:

For more Caribbean news stories and information, visit us online at pulseofthecaribbeancom. If you found value in this podcast, be sure to like and subscribe wherever you listen to podcasts, and thank you in advance for choosing Pulse of the Caribbean Caribbean News Roundup as your source for Caribbean-centered news.