There has been no monetary figure mentioned yet, but the St. Vincent prime minister said reparations must "bear a close relationship to what was illegally or wrongly extracted and exploited ... from the Caribbean by the European colonialists, including the compensation paid to the slave owners at the time of the abolition of slavery."
At the time of emancipation of slaves in 1834, Britain paid 20 million pounds to British planters in the Caribbean, the equivalent of some 200 billion pounds ($315 billion) today.
The Caribbean governments have brought on the British law firm of Leigh Day, which waged a successful fight for compensation for a group of Kenyans who were tortured by the British colonial government as they fought for the liberation of their country during the so-called Mau Mau rebellion of the 1950s and 1960s.
Firm lawyer Martyn Day said the Caribbean nations are seeking to negotiate a settlement "based on the impact of slavery on Caribbean societies today."
"All the Caricom countries are keen to seek resolution amicably with the former slave nation states like Britain, France and the Netherlands," Day said at the conference.
But, he said, if that does not succeed, they will go to the International Court of Justice, the United Nations' highest judicial organ.
Gonsalves said he expected all Caricom's member states will have their representatives include a strong message about reparations in their speeches at the U.N. General Assembly next week.
"The awful legacy of these crimes against humanity a legacy (that) exists today in our Caribbean ought to be repaired for the developmental benefit of our Caribbean societies and all our peoples," he said.
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David McFadden on Twitter: http://twitter.com/dmcfadd