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STATEMENT BY THE CARIBBEAN COMMUNITY (CARICOM) ON BLACKLISTING BY THE EUROPEAN COMMUNITY

STATEMENT BY THE CARIBBEAN COMMUNITY (CARICOM) ON BLACKLISTING BY THE EUROPEAN COMMUNITY

The Caribbean Community (CARICOM) deplores the ongoing unilateral, arbitrary and non-transparent blacklisting strategy employed by the European Union (EU) against CARICOM Member States. The most recent inclusion of CARICOM States to the blacklist of alleged non-cooperative tax jurisdictions and jurisdictions identified as being deficient in the area of Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT), underscores the EU’s unwillingness to take into account the substantial progress made by CARICOM Member States at compliance with global standards.

Moreover, the unquestioned use of ratings from other international bodies as a determining factor in the decision to list a jurisdiction along with the absence of meaningful prior consultation with the affected States negates the spirit of partnership and multilateralism that has characterised the relationship between CARICOM and the EU. Along with the unprecedented task of staging a post-COVID-19 economic recovery, these CARICOM States now have the added burden of being subjected to the EU’s discriminatory tactics disguised as tax policy and governance. 

Blacklisting severely affects the economic prospects of the listed states and the Community, in general, at a time when all of our Members are already faced with the disproportionate impact of the COVID-19 pandemic. This labelling causes significant reputational risk, erodes our competitive advantage, and discourages the investment that CARICOM States desperately need to drive inclusive growth and build economic resilience.   

The Caribbean Community calls upon the European Union to desist from this harmful practice of blacklisting small states, and instead pursue a mutually collaborative engagement towards our shared goals of effective tax governance and combatting money laundering and terrorism financing. 

International Relations CARICOM
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OECS Communications Unit Organisation of Eastern Caribbean States
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The Organisation of Eastern Caribbean States (OECS) is an International Organisation dedicated to economic harmonisation and integration, protection of human and legal rights, and the encouragement of good governance among independent and non-independent countries in the Eastern Caribbean. The OECS came into being on June 18th 1981, when seven Eastern Caribbean countries signed a treaty agreeing to cooperate with each other while promoting unity and solidarity among its Members. The Treaty became known as the Treaty of Basseterre, so named in honour of the capital city of St. Kitts and Nevis where it was signed. The OECS today, currently has eleven members, spread across the Eastern Caribbean comprising Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, St. Kitts and Nevis, Saint Lucia, St Vincent and The Grenadines, British Virgin Islands, Anguilla, Martinique and Guadeloupe. 

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