Publications & Research

As countries pursue their climate ambitions towards achieving net zero by 2050, carbon pricing has become a key element on the agenda. While this practice attaches a cost to emissions, it may lead to carbon leakage as companies shift their carbon-intensive production activities abroad to countries with less stringent climate policies than the domestic economy. One mechanism to manage differences in carbon pricing due to a lack of co-ordination and uniformity among implementing countries is the establishment of border carbon adjustments (BCAs).

In July 2024, Curaçao became an Associate Member of the Caribbean Community (CARICOM). As Curaçao deepens regional integration, opportunities for improving intra-regional trade are being explored through, for example, negotiation of a Partial Scope Trade Agreement (PSTA) with Trinidad and Tobago. This paper investigates the potential for boosting trade between Curaçao and Trinidad and Tobago through an empirical analysis of each country’s comparative advantage. Through a suite of international trade-related tools, including the Balassa Revealed Comparative Advantage, Trade Complimentary, and the Trade Competitiveness Analysis of Nations (TradeCAN) methodology, the research highlights products and sectors with the highest potential for expanding trade in goods and services.