Dr. Waterman (second from left) with other panellists

Dr. Waterman discussing competition policy in the Caribbean

CARICOM Competition Commission (CCC) is pleased to highlight the participation of its Executive Director, Dr. Troy Waterman, in the seminar “Markets for Development: Improving Lives through Competition”, held during the IDB Group Annual Meetings 2026 in Asunción, Paraguay.

The session brought together leading economists, policymakers, and private sector representatives to examine how stronger competition frameworks can contribute to inclusive growth, improved productivity, and enhanced consumer welfare across Latin America and the Caribbean. Dr. Waterman participated alongside a distinguished panel that included Laura Alfaro Maykall of the Inter-American Development Bank, Jan Eeckhout of the Barcelona School of Economics, Esteban Greco of GAMES Economics, and Javier Bernardes of Grupo JBB.

Drawing on the Caribbean experience, Dr. Waterman emphasized that small, open, and highly integrated economies face a unique set of structural and institutional challenges in maintaining competitive markets. He noted that these economies are simultaneously exposed to multiple disruptions, including technological change, evolving regulatory environments, and climate-related pressures, all of which require adaptive and responsive policy frameworks. Within this context, particular attention was given to factors that may distort competition, including protectionist tendencies linked to support for vulnerable sectors, the growing interface between trade policy and competition enforcement, and the granting of exclusive rights or state support to selected industries.

Dr. Waterman further highlighted that market characteristics in the Caribbean, such as limited scale, high levels of concentration, and relatively underdeveloped business models, can contribute to reduced competitive pressure. In some instances, pricing behaviour may be influenced by cross-border business structures, where prices are effectively “transplanted” across markets and reflect simplified pricing mechanisms rather than local demand conditions. This dynamic may reinforce situations in which consumers have limited alternatives and are effectively price takers, underscoring the importance of deeper empirical and behavioural research in the region.

A central theme of the discussion was the mismatch between regional market integration and the predominantly national structure of competition law enforcement. Dr. Waterman observed that, although firms often operate across borders within the CARICOM Single Market and Economy (CSME), only a small number of Member States have established fully functioning competition regimes. This institutional gap complicates enforcement and requires the CCC to play a coordinating role in promoting regulatory coherence, facilitating cooperation, and supporting capacity building across jurisdictions.

In addressing these challenges, Dr. Waterman underscored the importance of strengthening inter-agency coordination among competition authorities, sector regulators, ministries, and statistical agencies, as well as fostering a stronger competition culture among policymakers, legal practitioners, and market participants. He also emphasized the need to enhance analytical tools, including market studies and data collection frameworks, to support evidence-based decision-making and more effective enforcement outcomes. These efforts are essential to ensuring that competition policy contributes meaningfully to economic stability, resilience, and consumer welfare across the region.

The CCC remains committed to advancing competition policy as a key pillar of sustainable development in the Caribbean and to strengthening collaboration with international partners, including the Inter-American Development Bank. Participation in forums such as the IDB Annual Meetings provides an important platform for sharing regional perspectives and contributing to global discussions on the role of competition in improving lives.

About the CARICOM Competition Commission

The CCC, 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.

CARICOM Competition Commission