FOR IMMEDIATE RELEASE

Paramaribo, Suriname, 15 June 2026 – The CARICOM Competition Commission (CCC) and the World Intellectual Property Organization (WIPO) have signed a Memorandum of Understanding (MoU) on Technical Cooperation in the areas of Competition Law and Intellectual Property. This agreement acknowledges that IP and competition policy are complementary tools for stimulating innovation, supporting business growth, and ensuring that consumers benefit from greater choice, improved products and services, and competitive prices.

Through this partnership, the CCC and WIPO will work together to support regional economic diversification, promote consumer welfare, encourage innovation and entrepreneurship, and contribute to the achievement of the United Nations Sustainable Development Goals. Under the MoU, the CCC and WIPO will collaborate in four key areas:

• Policy Coherence
• Capacity Building
• Evidence Generation
• Public Advocacy

Speaking on the significance of the agreement, the Executive Director of the CARICOM Competition Commission, Dr. Troy Waterman, noted that innovation is increasingly important to the region’s economic transformation and resilience. According to Dr. Waterman:

“Competition and innovation are key drivers of economic development. This partnership with WIPO will help equip policymakers, regulators, businesses, and consumers with a better understanding of how intellectual property and competition policy can work together to promote innovation while safeguarding competitive markets. By strengthening institutional capacity and generating evidence-based policy guidance, we aim to support a more dynamic and inclusive regional economy.”

The partnership is expected to contribute to stronger institutional capacity across the region, improved policy coordination, increased awareness of IP and competition issues, and a more enabling environment for innovation-led growth.

About the CARICOM Competition Commission

The CARICOM Competition Commission, headquartered in Paramaribo, is a specialised institution of CARICOM dedicated to the promotion and protection of competition within the CSME. Its primary goal is to create a level playing field for businesses while fostering economic growth and development in the CSME Member States.

About WIPO

The World Intellectual Property Organization (WIPO) is the United Nations agency dedicated to developing a balanced and effective international intellectual property system that enables innovation and creativity for the benefit of all.

CARICOM Competition Commission