Cabinet Approves Advisory Trade Commission and Trade Development Framework

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Cabinet Approves Advisory Trade Commission and Framework Initiative

9 April 2026 | Press Release | By: Gina Matthews

The Ministry of Tourism is pleased to announce that Cabinet has approved the Terms of Reference (TORs) for the establishment of an Advisory Trade Commission (ATC) and the development of a comprehensive Trade Development Framework for the Cayman Islands. As a key step in advancing this initiative, the Ministry has issued a Request for Proposals (RFP) to engage consultancy services to support the design and implementation of the framework.

Upon taking office, the NCFC Government identified trade development and economic diversification as central pillars of its economic agenda. A primary objective of this focus is to reduce import costs, thereby providing meaningful cost-of-living relief to households and businesses across the Cayman Islands.

To advance this priority, the Government has approved the formation of the Advisory Trade Commission, to be chaired by Mr. Wil Pineau, and comprise of experienced representatives from both the public and private sectors with expertise in trade and commerce. The ATC will play a critical advisory role in ensuring that trade opportunities are optimised effectively to support national economic goals.

The Commission’s mandate includes assessing current trade processes, structures, and relationships; identifying emerging opportunities in regional and global markets; and recommending actionable policy and operational improvements. These efforts are intended to strengthen the Cayman Islands’ trade position while addressing key cost drivers impacting imports.

A central responsibility of the ATC, in collaboration with the Ministry will be to guide the development of the Trade Development Framework. This framework will focus on strengthening supply chains, enhancing logistics efficiency, and aligning existing policies, partnerships, and trade-related operations. The overarching objective is to create a more resilient and efficient trade environment that contributes directly to lowering the cost of imported goods.

The Ministry has issued an RFP inviting qualified consultants to support the design and implementation of the Trade Development Framework. The selected consultant will work in close collaboration with both the Ministry and the Advisory Trade Commission. Submissions are due by 4 May 2026 and should be sent to https://cayman.bonfirehub.com/opportunities/229904

Commenting on the initiative, Hon. Gary Rutty, Minister for Tourism and Trade Development stated, “This initiative marks a significant step forward in strengthening our trade ecosystem. By taking a strategic and coordinated approach to trade development, we are positioning the Cayman Islands to better navigate global economic shifts, improve supply chain resilience, and ultimately deliver tangible cost savings for our people and businesses.

Against the backdrop of shifting market demands, I am encouraged by the steady progress being made to advance these trade development initiatives. The establishment of the Advisory Trade Commission and the development of the Trade Development Framework represent important milestones in building a more sustainable, competitive, and resilient economy for the Cayman Islands.”

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Business & Industry Press Release Ministry of Tourism & Trade Development (MTTD)