Prime Minister Chastanet proposes new US-Caribbean trade initiative

On the side-lines of the UN General Assembly in New York, Prime Minister Allen Chastanet has been speaking to the American business network CNBC.

Prime Minister Chastanet discussed the recent hurricanes that have devastated parts of the Caribbean, rebuilding the Caribbean and Caribbean – US relations.

He said recent events have showed that the Caribbean needs to diversify in terms of its sources of food, pointing to a shutdown of the American hub for several days.

“The support has had to come from the south because while we were going through this, you had two hurricanes heading up north. And literally Miami was on a shutdown. So unfortunately the American hub got shutdown almost for ten days out of Miami.  And so it really has shown us that we need to diversify ourselves a bit and maybe look a bit more to Panama in terms of supplies of food,” Chastanet.

Chastanet said the resilience of the Caribbean is very strong and the region will band together to recover from the disasters.

Chastanet proposed the establishment of a new private sector led initiative what would allow US companies to invest in St Lucia tax free and have their resources sent back home without facing heavy US government taxes.

He said there are great investment opportunities in the Caribbean for American companies.

“Can we not get an incentive, and that’s what we’re in discussions with the US about, that if US companies invest into the Caribbean, that those investments in our books are always tax free that the US allow those funds to be repatriated back into the US tax-free, only on those investments. So 1, it accomplishes getting the funds back into the United States of America. It creates an avenue for the private sector to participate in this growth and brings a lot of money to the table, Chastanet said.

Prime Minister Chastanet is expected to address the UN General Assembly today.

19 Comments

  1. Anonymous
    September 21, 2017 at 8:52 am Reply

    Once again he is offering foreign investors tax-free incentives whatabout local investors are their money not foreign enough

    1. Anonymous
      September 21, 2017 at 11:16 am Reply

      Well at least he is trying something new and I always thought that, instead of the US Companies moving all the way to China, they should have set up shop in the Caribbean instead which would minimize shipping costs.

      1. Anonymous
        September 21, 2017 at 12:03 pm

        The money paid to workers by these companies in china are miniscule for example a foxconn worker(Iphone) make $US2.00 an hour. Also there is not alot of flat land available in the caribbean to building these mega factories

  2. Anthony Gajadhar
    September 21, 2017 at 8:53 am Reply

    Chastenet proposes establishing of new private sector to invest St.Lucia Tax free and have their resources sent back home without facing heavy US Gov. taxes.
    But who will fall into this gimmick, Chastenet do not know how long he will be prime minister, and say after the new investor has established his business, he falls from power, and the new government imposes those taxes he has referred to.

    1. Kevin Edinbouwer
      September 21, 2017 at 9:08 am Reply

      This is why these small islands will never proposer. Their leaders and people are not matured and their psyche needs retooling. In my opionion and from my observation this guy is too advance for the caribbean. Most of the citizens are lost with his first world approach.

  3. Anonymous
    September 21, 2017 at 8:54 am Reply

    Agriculture is the answer, not retailing imported food. But then again, agriculture will benefit the masses while the retail business is for the 1%

  4. Anonymous
    September 21, 2017 at 9:46 am Reply

    This (Word deleted) is giving all foreigners tax free investments. Sandals got off scotch free but we the citizens of SLU who may owe on our taxes by hundreds or thousands usually get pinalized for not paying. Wheres the justice in This? This (Word deleted) must go

  5. Anonymous
    September 21, 2017 at 10:13 am Reply

    I want the truth. Can someone enlighten me whether there are any of the islands in the Caribbean which has not given foreign investors glamorous incentives in order to lure them to invest in their Island. I often wonder whether those who are always in opposition would not indulge in what they are now opposing if they were in the shoes of the prime minister. It’s always the Maco Jua watching a game who knows what should be the next move, but let him be involved in the game he is far worse than any of the players he was chiding as to what they should do.
    Yes local investors should be given incentives, but how many locals are prepared to invest? I am now over 60 and have not seen to many locals who are prepared to invest their money in anything. The economy was doing far far better years ago for the locals to have established themselves. Take away all the foreign investors who are currently in St. Lucia right now and see how many locals who are prepared to help their own comrade St. Lucian. Some of you need to experience what happened in Dominica and Puerto Rico and other Islands hit by the hurricanes to keep Quiet. God forbid.

  6. Anonymous
    September 21, 2017 at 10:39 am Reply

    Truth always offends. To much politics killing this country . Those who are currently in opposition had no ideas to offer about the way forward, now they are like the DEVIL suddenly transformed into angels of light. Instead of opposing St .Lucia is your Country: no matter who is in Power or who’s the PM give positive ideas to take this Country out of the Doldrums which former administrations has landed it into. Many who are now Clamoring about what should Chastanet do or not were either beneficiaries of the last Government. They can no longer put their hand into the Cookie Jar so Yo Fache.

    1. Anonymous
      September 21, 2017 at 12:19 pm Reply

      Just like Trump supporters shouting fake news, Chas supports saying whoever disagrees with him is a slp supporter. smh, so wanting comapnies to pay their taxes to help the country means u an slp hack

  7. Ivana Cardinale
    September 21, 2017 at 10:40 am Reply

    Tax free? Incredible. NEOLIBERALISM in action!

  8. Fairplay
    September 21, 2017 at 10:43 am Reply

    O yes, yo en wa ge.

  9. Prime Minister Chastanet proposes new US-Caribbean trade initiative | The Caribbean Mirror
    September 21, 2017 at 12:14 pm Reply

    […] September 21st, 2017 7 comments […]

  10. 666 - No Political Affiliation.
    September 21, 2017 at 1:58 pm Reply

    Modern slavery!

  11. Anonymous
    September 21, 2017 at 5:31 pm Reply

    When SLP was in office they couldn’t attract any investors,the country was at a dead stop, nothing was happening,they had no friends in the free world,no good ideas ,all of a sudden they know what is right and wrong for the country.Mr Prime minister don’t listen to them,they are a bunch of sad losers,all they have to offer is disturbances and ghettos

  12. Anonymous
    September 21, 2017 at 5:40 pm Reply

    When SLP was in office they couldn’t attract any investors,the country was at a dead stop, nothing was happening,they had no friends in the free world,no good ideas ,all of a sudden they know what is right and wrong for the country.Mr Prime minister don’t listen to them,they are a bunch of sad losers,all they have to offer is disturbances and ghettos

  13. Anonymous
    September 26, 2017 at 9:36 pm Reply

    Bring a lot of money to whose table?

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    October 10, 2017 at 2:19 am Reply

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