Peace, partnerships and progress top agenda for Caribbean nations

Hon. Natalio Wheatley, Premier, British Virgin Islands, and Hon. Dickon Mitchell, Prime Minister, Grenada, said small island nations are rethinking how they grow their economies and protect regional stability, as geopolitical tensions and global shifts reshape the world order.

Speaking to India Today at the World Governments Summit, the two leaders highlighted the importance of peace, economic diversification and stronger global partnerships for Caribbean nations.

GEOPOLITICAL TENSIONS AND REGIONAL STABILITY

Wheatley said the United Arab Emirates has shown strong leadership by bringing countries together at a time when the global system is under pressure. For small island developing states like the British Virgin Islands, he said this moment offers a chance to build a fairer and more inclusive international order.

He said that instability in nearby regions could quickly affect Caribbean economies. Events such as political tensions in Venezuela and military activity close to US territories have caused anxiety and travel disruptions in the past. Since tourism is a major economic driver, any uncertainty in the region can directly affect livelihoods.

Mitchell echoed these concerns, pointing out that Grenada lies only about 100 miles from Venezuela. He said the Caribbean has long aimed to remain a “zone of peace” and that military build-ups or regional conflicts create unease, especially for tourism-dependent economies. He added that the region is relieved that tensions appear to be easing for now and hopes that diplomacy will continue to support long-term stability and investment.

BUILDING RESILIENT AND DIVERSIFIED ECONOMIES

Wheatley stressed that the British Virgin Islands has worked to build a strong and diverse economy. Beyond tourism and traditional sectors, the territory has developed a major financial services centre with hundreds of thousands of registered companies that facilitate global investment flows.

However, he warned that rising protectionism and shifting geopolitical alliances require constant attention. He said forums like the World Governments Summit help countries share best practices and strengthen cooperation outside traditional Western partnerships. The British Virgin Islands is planning trade missions to India and Asia and is also expanding airport infrastructure to attract long-haul tourism from new markets.

Mitchell said Caribbean nations have largely moved beyond relying on foreign aid and are focusing on innovative ways to attract investment. Grenada’s investment migration programme, for example, has helped the country manage economic and climate shocks, including hurricanes and the COVID-19 pandemic, without severe financial strain.

NEW GROWTH AREAS IN HEALTHCARE AND TECHNOLOGY

Mitchell highlighted healthcare and education as emerging growth sectors. Grenada hosts a large international medical and veterinary school that attracts students from around the world and contributes significantly to the national economy. Plans are underway to build an advanced teaching and research hospital aimed at boosting medical tourism.

He also pointed to opportunities in financial technology and digital regulation. By learning from regional leaders such as Bermuda in cryptocurrency regulation, Caribbean nations hope to enter new sectors more quickly and competitively.

Both leaders agreed that innovation, cooperation and stability will be key as small island states adapt to a rapidly changing global landscape.