Chair's Opening statement at MonCom 2025

• Jose Manuel Salazar-Xirinachs, Executive Secretary of the Economic Commission for Latin America and the Caribbean,
• Distinguished Ministers,
• Excellencies,
• Representatives and delegations online,
• All other distinguished guests.

Good morning,

It is my distinct honour to address you today at the 22^nd Meeting of the Monitoring Committee of the Caribbean Development and Cooperation Committee (MonCom) here in Port of Spain, this vibrant city, a crossroad of Caribbean culture and collaboration, as we chart a course for regional progress.

As we gather here today, we are reminded of the importance of regional collaboration and the vital role our Committee plays in advancing the shared aspirations of Caribbean nations.  The work of the CDCC continues to be a cornerstone for promoting sustainable development, economic resilience and social progress throughout our region.

Over the years, the MonCom has demonstrated its commitment to fostering dialogue, monitoring progress and ensuring the effective implementation of our collective objectives. Our journey has not been without challenges, ranging from natural disasters to economic shocks. However, through determination, partnership and innovation, we can and will achieve significant milestones. Today, we affirm our dedication to build on our successes and address the evolving needs of our member states.

This session provides us with a valuable opportunity to review our ongoing projects, assess the impact of our initiatives and strengthen the mechanisms that underpin our cooperation, especially in the Global South. South-South Cooperation is profoundly significant for Small Island Developing States (SIDS) as it offers a crucial, peer-led mechanism to address their unique vulnerabilities, such as climate change impacts and economic shocks. It is an indispensable complement to traditional North-South cooperation, providing context-specific and innovative solutions. 

The countries of the Global South work together to strengthen institutions, enhance governance, and ensure access to justice. They also coordinate on policy matters and advocate for shared interests on the global stage, as outlined in key frameworks like the SAMOA Pathway and the new Antigua and Barbuda Agenda for SIDS, referred to as ABAS, which coincidentally was also hosted just last week right here.

At its core, South-south cooperation is an expression of solidarity and mutual respect, allowing SIDS to work together to achieve self-reliance and shape our own development agendas, free from external interference. This collective action approach is vital for achieving the global Sustainable Development Goals and ensuring no island nation is left behind. 

We are bound by shared aspirations for prosperity, resilience and a future where every person has the chance to thrive.

The key to unlocking this future lies not just in our natural resources or our human capital, but in a powerful, cross-cutting force that transcends physical borders and institutional silos: Technology and Digital Transformation.

This is not a mere technical upgrade; it is a strategic imperative. The digital revolution offers us an unprecedented opportunity to accelerate regional integration, a goal we have long pursued, while we fundamentally strengthen the institutional capacities that govern our societies. By leveraging technology, we can create a functional digital single market.

Imagine a small business owner in Jamaica selling handcrafted goods to a customer in Argentina with the same ease as selling locally. Imagine a developer in Brazil collaborating seamlessly with a research team in Barbados.

This future requires us to move beyond fragmented national policies. We need harmonized data protection laws, standardized e-commerce regulations and robust, interoperable digital payment systems. Platforms like the UN’s ELAC agenda, coordinated by ECLAC, provide the essential dialogue to forge this consensus. When our digital rules align, our economies integrate naturally, creating economies of scale that attract greater investment and foster innovation.

Technology provides us with the tools to modernize our public sectors, making them more efficient, transparent and responsive to the needs of our people.

For our Caribbean nations, where climate change poses an existential threat, digital resilience is physical resilience. Robust, interconnected digital networks provide essential communication and data backup during hurricanes and other extreme weather events. However, to do so will require significant investment.

For years, Latin America and the Caribbean have been caught in a vicious cycle. We are among the most vulnerable regions in the world, yet we receive a disproportionately small share of global climate finance. When funding does arrive, it often comes as loans rather than grants, trapping countries in a cycle of debt that leaves less and less fiscal space for climate action or essential social services.

Many nations are now spending more on debt interest than on climate or social investments, even as our economies risk significant per capita GDP losses from climate impacts. We must refuse to accept this cycle. The good news is that we are not passive victims; we have the power to create our own solutions by mobilizing both public and private finance.

We need a system that recognises vulnerability, not just income levels, when allocating resources. We must use our collective voice to ensure that developed nations honor their climate finance commitments and that funding is accessible, equitable and delivered with urgency. ECLAC reports that climate action can help the region overcome development traps like low growth and inequality, while creating jobs and boosting its global standing.

The technical assistance provided by the ECLAC sub-regional headquarters in areas such as disaster loss assessment methodologies, e-government systems, and national trade policies has been invaluable in building the capacity of our governments. Our task now is to ensure these tools are maximized and our shared experiences are effectively leveraged across the entire Caribbean Community

Let us use this meeting to foster a new era of proactive collaboration. We need stronger institutions working together seamlessly to articulate Latin America and the Caribbean’s position on the global stage and implement sustainable development initiatives that leave no island behind.

I look forward to productive deliberations, insightful discussions, and, most importantly, concrete and actionable recommendations that will truly unlock the potential of our remarkable Caribbean region.

Thank you.