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The Green Climate Fund (GCF) Caribbean Regional Dialogue concluded last Friday on a high note with the Trade and Business Forum, a session that highlighted the critical role of the private sector in climate resilience and economic transformation. Led by Caribbean Export, this forum brought together key stakeholders to explore how trade and business can drive the region’s green transition. 

Caribbean trade is evolving rapidly, with climate change and sustainability shaping new opportunities and challenges. In 2023, CARICOM recorded $40.2 billion in exports and $49.6 billion in imports, reflecting a trade deficit that underscores the need for greater economic resilience. Dr. Damie Sinanan, Executive Director of Caribbean Export, highlighted the importance of MSMEs, which comprise 70-85% of Caribbean economies, playing a crucial role in economic sustainability. He emphasized the growing opportunities in green trade, particularly in agriculture, clean energy, and digital transformation, while noting the pressing need for supply chain modernization, sustainable production, and intra-regional trade expansion to remain competitive. 

The Caribbean has immense potential to lead in sustainable industries, particularly in clean energy, ocean industries, and the Blue Economy. However, logistical barriers, regulatory gaps, and financing constraints continue to hinder progress. Discussions at the forum focused on the urgent need for sustainable agriculture, with CARICOM aiming to cut food imports by 25% by 2030, requiring significant investment in climate-smart agriculture, organic farming, and technology adoption. Agriculture remains a critical employer in the region, with employment rates as high as 30% in Guyana, 25% in Dominica, and 18% in Jamaica. In addition, digital transformation is emerging as a crucial enabler of the green economy, with technologies like AI, blockchain, and IoT improving efficiency and transparency in trade. 

Access to green finance remains a major challenge, and financial institutions, including Republic Bank, Belize Development Bank, CARICOM Development Fund (CDF) and the Caribbean Development Bank (CDB), shared insights on innovative financial instruments that could help businesses transition to sustainable trade models. The private sector must be at the forefront of climate adaptation and mitigation efforts. Strategic investment is key, and businesses must leverage regional and global funding opportunities, including the Green Climate Fund’s financing mechanisms provided via accredited partners to adopt greener practices. Regulatory reform is also critical, as governments need to finalize policies and incentives that encourage businesses to invest in sustainable industries. The forum emphasized that public-private collaboration is essential, with the private sector working alongside governments, financial institutions, and development agencies to accelerate the green transition. 

One of the biggest challenges for Caribbean businesses is accessing affordable and innovative financing for green initiatives. The Green Climate Fund (GCF) presented successful case studies, such as the Accelerating Solar Action Program in Ghana and the Mirova Sustainable Land Fund, demonstrating how concessional financing can drive private sector investment in climate resilience. Efforts to provide additional financing options alongside strategies to encourage green business growth were explored. Caribbean Export’s initiatives, including Green Transition Grants, Green Energy Audits, and sustainability training, were highlighted as key resources for businesses ready to embrace sustainability.  Further, CDF shared a number of initiatives currently being implemented to provide greater access to finance for the private sector. 

As the forum concluded, one key message stood out: the time for action is now. Businesses must embrace the green transition to remain competitive in the global economy. Governments need to implement supportive policies to enable trade and investment in climate-friendly industries. Financial institutions must expand green financing solutions to help businesses scale their sustainability efforts. Regional collaboration is essential—CARICOM nations must work together to create an enabling environment for sustainable trade and investment. 

The Trade and Business Forum set the stage for deeper engagement between public and private sector leaders to drive economic resilience in the Caribbean. Through trade, investment, and partnerships, the region can not only adapt to climate change but also thrive in the green economy. Caribbean Export remains committed to empowering businesses, unlocking trade opportunities, and fostering a sustainable economic future for the region. 

As we celebrate International Women’s Day 2025 under the theme ‘Accelerate Action,’ it’s an opportune moment to reflect on the progress made and the road ahead for women entrepreneurs in the Caribbean. Across the region, women-owned businesses are vital drivers of economic growth, innovation, and resilience. Yet, despite their immense contributions, many still face obstacles such as accessing funding, limited exposure to new markets, and inadequate support systems that can help them scale.

At Caribbean Export, we believe that accelerating action means going beyond conversations and driving real, tangible support for women entrepreneurs. That’s why we are collaborating with Global Affairs Canada to implement the Caribbean Women Entrepreneurs Generating Resilient and Inclusive Trade(GRIT) project —an initiative to strengthen women-led businesses by providing the tools and opportunities necessary for sustainable growth and international expansion. GRIT will support women-led businesses from Belize, Dominica, Grenada, Jamaica, Saint Lucia, and Saint Vincent and the Grenadines.

Closing the Gender Gap in Trade

Women entrepreneurs in the Caribbean often struggle to break into international markets due to various constraints. GRIT seeks to change this by delivering specialized training, mentorship, and financial support to enhance business competitiveness.

To equip women entrepreneurs with the support they need, this initiative will provide:

• Access to finance – Providing grant funding for women-led businesses to adopt technology.
• Export training and mentorship – Preparing entrepreneurs to enter and sustain a presence in regional and international markets.
• Buyer Outreach – Connecting women entrepreneurs with potential partners and buyers through trade missions.

A Future of Inclusion and Innovation

The time for action is now. GRIT is designed to break down barriers and open doors for women entrepreneurs, providing them with the critical resources needed to scale, compete, and succeed in global markets. The Caribbean’s economic future depends on inclusive growth, and empowering women entrepreneurs is key to unlocking opportunities for prosperity. Through initiatives like GRIT, we are addressing the challenges women face in trade and fostering an ecosystem where their businesses can thrive and lead the way in innovation and sustainability.

Now is the time to get involved. If you are a woman entrepreneur looking to expand your business, break into new markets, or access valuable training and mentorship, we invite you to be part of this project. Complete our survey and take the next step in your entrepreneurial journey. Survey Link

Together, let’s accelerate action and shape a future where Caribbean women entrepreneurs lead, succeed, and transform industries across the region.

Happy International Women’s Day!

On Friday, February 21, 2025, the Honourable Serge Letchimy, President of the Executive Council of Martinique, visited the Caribbean Export Development Agency in Barbados. This visit coincided with Martinique’s significant milestone of signing an accession agreement to become an associate member of the Caribbean Community (CARICOM) during the 48th Regular Meeting of the Conference of Heads of Government of CARICOM.

During discussions at Caribbean Export, President Letchimy outlined a comprehensive framework aimed at deepening Martinique’s integration into the Caribbean market. He outlined the dual identity of Martinique as both European and Caribbean, highlighting the island’s strategic position to serve as a bridge between the European Union and CARICOM member states.

A focal point of the meeting was the exploration of relationships between African, Caribbean, and Pacific (ACP) countries and the European Union’s outermost regions. President Letchimy proposed the development of fiscal norms and the reduction of trade barriers, including the elimination of duties, to facilitate the free circulation of goods. He also advocated for joint programming of funds and the enhancement of logistical, digital, air, and maritime connectivity to bolster regional trade.

Historically, freight aid was predominantly allocated for raw materials imported from Europe. President Letchimy suggested revising this approach to extend benefits to regional trade, thereby reducing costs for Caribbean entrepreneurs. He underscored the importance of collaboration with CARIFORUM to harmonize efforts, viewing Martinique’s accession to CARICOM as a pivotal step in legitimizing direct negotiations and fostering independent trade agreements.

The President highlighted existing programmes, such as the Martinique Initiative and Development Martinique, as potential platforms for cooperation. He expressed enthusiasm for increased business exchanges between Martinique and other Caribbean firms, noting the island’s strategic location as advantageous for regional commerce.

Executive Director, Dr. Damie Sinanan on behalf of Caribbean Export extended congratulations to Martinique on its impending CARICOM membership and welcomed the opportunity to strengthen partnerships with Martiniquan firms. Dr. Sinanan acknowledged its longstanding collaboration with French Caribbean Outermost Regions (FCORs) to support trade and emphasized the agency’s commitment to facilitating greater participation of Martiniquan businesses in regional economic initiatives. Notably, Caribbean Export looks forward to engaging Martiniquan firms in projects such as the EU-LAC Digital Accelerator, which fosters digital transformation and innovation among businesses in Latin America, the Caribbean, and the European Union.

The agency also underscored the importance of leveraging Martinique’s accession to CARICOM to create synergies in trade, investment, and capacity-building programmes. By integrating into regional frameworks, Martiniquan businesses will have greater access to support mechanisms that enhance their competitiveness and expand market opportunities.

Martinique’s journey toward CARICOM membership has been a decade-long endeavour, culminating in the recent signing of the accession agreement. This move is anticipated to strengthen regional cooperation across various sectors, including economic development, healthcare, education, transport, and disaster risk management. As an integral part of the European Union, Martinique’s inclusion offers a unique opportunity to bridge Caribbean nations with European markets.

The finalization of Martinique’s associate membership awaits ratification by the French National Assembly, which must approve the Protocol on Privileges and Immunities. Once completed, Martinique will join the ranks of CARICOM’s associate members, further solidifying its commitment to regional integration and cooperation.

This development signifies a historic moment for both Martinique and CARICOM, promising to enhance economic diversification, cultural exchange, and collective resilience in addressing shared challenges within the Caribbean region.

When opportunity knocks, successful businesses act. That’s exactly what Stingrae Caribbean Limited (Stingrae) did. On February 4th, members of the Trinidad-based company joined us at our Barbados office to share how strategic investments, expert guidance, and a well-utilized grant helped them scale and expand into new markets. 

In 2022, Stingrae, value-added seafood processors and distributors were awarded a non-reimbursable grant of EUR 26,000 under the Direct Support Grant Programme (DSGP) – an initiative funded by the European Union under the 11th EDF Regional Private Sector Development Programme, designed to support business recovery post-COVID. Stingrae’s goal? To build a more competitive and efficient business model by upgrading their website, integrating back and front-end store operations, upgrading equipment and strengthening marketing and product development strategies.  

Unlocking New Potential 

The grant enabled Stingrae to hire consultants in HACCP, food safety, and process improvement. These specialists helped identify inefficiencies in the company’s processing systems and implemented critical control measures. While this required unexpected capital investment, it proved invaluable. 

Without it, Stingrae might not have been able to fully capitalize on the grant’s potential. Following expert recommendations, the company achieved a major milestone, HACCP certification, and secured plant licenses from the Ministry of Health- essential steps that opened new export opportunities across the Caribbean. 

Scaling Up: Revenue, Employment, and Innovation

Since implementing the grant, Stingrae has:

• Expanded into new markets and is now exporting to 4 Caribbean islands: Antigua, Barbados, Grenada and St. Lucia
• Hired 15 new team members, of which an estimated 90% are women and 86% are youth
• Achieved an 80-90% increase in sales
• Launched value-added products, including snapper burgers and seafood lasagna, further diversifying their product offerings.

Lessons Learned: The Power and Challenges of Grant Funding

While the Stingrae team acknowledges that they might have completed the project without the grant, they recognize that DSGP funding accelerated their progress. Instead of relying solely on internal resources, they were able to hire experts, expedite implementation, and reallocate funds for other initiatives.

However, the grant process underscored the importance of strong record-keeping. While the reporting requirements were extensive, maintaining organized and accurate records made the process more manageable. Like many small and medium-sized enterprises (SMEs), the company initially found the administrative workload demanding. However, they quickly realized that good record-keeping simplified compliance and positioned them for future opportunities. At the end of the day, paperwork is unavoidable, but having the right systems in place can make applying for grants—and securing funding—easier.

A Blueprint for Success

Stingrae’s experience shows how strategic grant utilization can drive substantial business transformation. Their investment in digitalization, expert guidance, and operational improvements positioned them as a stronger competitor in the Caribbean seafood export market.

Despite the challenges associated with grant administration, their journey underscores a valuable lesson: when businesses leverage external support effectively, they can scale, innovate, and thrive in ways they never imagined.

For other SMEs considering a similar path, the message is clear—opportunities exist, but navigating them efficiently is key to maximizing impact.

The United Nations Framework Convention on Climate Change (UNFCCC) 29th Climate Conference of Parties (COP29) met in Baku Azerbaijan 11-22 November 2024. Dubbed the ‘Finance Conference’, there was an expectation especially from vulnerable and marginalized economies, that this gathering would address how Small Island Developing States (SIDS) and other similarly affected economies would finance climate action and build resilience to ensure their sustainability.

By now, everyone would be familiar with the “1.5 to stay alive” campaign that sought to build awareness about the state of global warming and the necessity to keep global temperatures below 1.5 degrees Celsius. Scientists have long argued that human action, including the burning of fossil fuels like coal, gas and oil in homes and industry, have contributed to rising carbon dioxide levels, increasing the earth’s temperature. These rising temperatures lead to more frequent and intense weather, heatwaves, heavy rainfall and flooding, rising sea levels and more intense storms and hurricanes.

With 2024 already on target to be the hottest year on record¹ , this sobering assessment will have detrimental effects for SIDS including the Caribbean. Only in July this year, hurricane Beryl was the earliest category 5 storm to be recorded, causing hundreds of millions of dollars in damages and complete loss and devastation to Carriacou and Petite Martinique, Grenada. Thus, the imperative for ALL economies to act is not one grounded in a medium-to-long-term trajectory, but one that is a lived experience for us in the Caribbean.

Caribbean actors, large and small, private and public, must play a role in building a resilient community. Recognizing this, and with Caribbean Export’s mandate in mind, as the leading implementer of private sector programmes in the Caribbean, the Agency curated a panel discussion as its contribution to Caribbean voices at COP29 – Building Climate Resilience in the Caribbean Region – A Private Sector Approach.

While the Caribbean is renowned for its natural beauty, it is already reeling from the devastating impacts of climate change and environmental degradation imposing significant economic strain on industries such as tourism and agriculture, and overall economic development. Hurricane impacts, tourism losses and infrastructure damage from sea level rise could amount to USD22 billion per year by 2050 and USD46 billion per year by 2100, representing 10% and 22% of current regional GDP² .

Beyond the hazards of climate change, the region faces another challenge of high energy costs. In the OECS, energy rates exceed US$0.35/kWh³ , which is more than double the average energy cost in the OECD of US$0.15/kWh and far above the global average of US$0.17/kWh⁴ . This economic pressure is especially severe when combined with the region’s efforts to recover from the COVID-19 pandemic, which has disrupted supply chains and strained local economies. Save for Trinidad and Tobago that benefits from lower energy costs due to domestic oil and gas production, the rest of the region continues to face the burden of high energy prices, making the region uncompetitive across many industries.

At the same time, the challenges posed by high energy costs and climate vulnerability highlight the need for a comprehensive green economy transition. Such a transition, while urgent, is bursting with opportunities for economic transformation. Renewable energy, including solar, wind, and marine energy, represents one of the Caribbean’s most promising sectors. The region is blessed with abundant natural resources. Between 2015 and 2022, the Caribbean increased its renewable energy capacity by 51%, reaching 64% of the generation from renewable sources in 2022⁵ . However, this pace must be accelerated. As population and economic growth continue, electricity demand is projected to increase by an annual average of 2.3% from 2022 to 2050⁶ , further amplifying the need for sustainable and efficient energy solutions.

The green economy transition also offers substantial economic benefits. A joint report by the International Labour Organization and the Inter-American Development Bank published in 2020 estimated that decarbonization efforts could create approximately 400,000 jobs in the Caribbean⁷ . Furthermore, the International Renewable Energy Agency has projected that for every US dollar invested in the energy transition, an additional US$0.93 of GDP growth could be generated beyond the business-as-usual scenario. These figures illustrate the potential for significant economic gains through sustainable investments⁸.

Data shows that SMEs account for between 70 and 85% of Caribbean economies, thus as engines of growth across important sectors of the economy, SMEs can make a significant contribution to the transition to greener and more climate friendly practices which in turn portend significant job creation while mitigating climate risks.

Turning to the panel discussion, joining Caribbean Export’s Executive Director were the Executive Director of the Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE), Vice President of Caribbean Development Bank and Founder and Chairman of Kenesjay Green, an SME and operator in the renewable energy space.

The discussion raised some critical points for consideration on how SMEs can be supported to achieve greater impact in addressing climate action. These can be summarized as follows:

1. Access to finance will increase the scope and scale of projects to assist in the green transition
   • Green practices and strategies require significant investments in renewable energy systems, energy efficient equipment, waste management etc. Thus, access to funds will allow SMEs to adopt the innovative solutions required to make a significant impact, implementing green solutions and making an overall contribution to climate imperatives.
2. Technical assistance is an important driver
   • While efforts at the green transition are popular in the Caribbean, many SMEs lack detail on green technologies and practices, as well as the practical benefits and solutions to transition to sustainable operations. Thus, we cannot overstate the importance of knowledge transfer, including the conduct of assessments including energy audits, to pinpoint opportunities for greener practices. Moreover, the need for the right innovative technologies and appropriate solutions were also identified.
3. The need for a supporting enabling environment
   • Clear, enforceable and predictable policies and regulatory frameworks are important not only for the SMEs but are important signals for investors and financiers as these policies encourage innovation. A call was made for Caribbean governments to act with alacrity to update the policies to attract the private capital to finance the transition.
4. Partnerships for climate action
   • Collaboration is essential to address climate action and to build a more resilient Caribbean. Due to the complexities around building climate resilience, partnerships will require not only pooling resources, but also expertise, the input of local communities and international partners to deliver impact.

Conclusion

The Caribbean faces unparalleled challenges from climate change, but it also has immense potential for transformation. The private sector is a critical driver of this change, capable of fostering innovation and accelerating the green economy transition. Access to financing, capacity building, supportive policies, and collaborative partnerships are key to this effort.

While COP29 fell short of expectations⁹ , the region’s resilience lies in its ability to act decisively. By embracing sustainable practices and amplifying advocacy efforts, the Caribbean can redefine its economic future. Climate resilience is not only a necessity but an opportunity for the region to thrive, creating a more inclusive and sustainable legacy for generations to come.

1. WMO 2024 on track to be hottest year on record ↩︎
2. Thomas A, Menke I, Serdeczny O. Loss and damage costing and financing mechanisms: Caribbean outlook. Climate Analytics. April 24, 2018 ↩︎
3. Koon Koon R, Shah K, Ashtine M, Lewis S. A Resource and Policy Driven Assessment of the Geothermal Energy Potential of St. Vincent and the Grenadines  ↩︎
4. https://www.statista.com/statistics/183700/us-average-retail-electricity-price-since-1990/ ↩︎
5. Inter-American Development Bank. Energy Transition in Latin America and the Caribbean. January 2023 ↩︎
6. U.S. Energy Information Administration. International Energy Outlook 2023. September 2023 ↩︎
7. Caribbean Export and CCREEE Cooperate to Support Sustainable Energy Development and Create Jobs- https://ab.gov.ag/pdf/CCREEE_CE_create_Jobs.pdf ↩︎
8. STATE OF THE LEAST DEVELOPED COUNTRIES 2021 Building back better in response to COVID-19
   https://www.un.org/ldc5/sites/www.un.org.ldc5/files/stateldc_2021.pdf ↩︎
9. COP29: Small island states ‘feel abandoned’ as climate talk grind on https://www.euronews.com/green/2024/11/19/cop29-small-island-states-feel-abandoned-as-climate-talks-grind-on  ↩︎

This week, Caribbean Export had the pleasure of meeting with Ellen Ligteringen, CEO of Suriname-based Tan Bun Skrati, a craft, tree-to-bar chocolatier. Since first engaging with Caribbean Export through an intellectual property webinar, Ellen has received extensive support to help her business succeed on the international stage. From initial guidance to securing grants, Caribbean Export has supported Ellen’s journey from local artisan to global exporter.

During her recent visit to Barbados for market research, Ellen stopped by to share her story. She described how the Brand Packaging workshop and subsequent technical assistance empowered her to transform her product’s branding and packaging, helping her craft a compelling narrative that resonates with international consumers. Her participation in trade shows like ANUGA has also played a crucial role, allowing her to connect with peers, showcase her unique products, and gain insights into international market trends. Tan Bun Skrati now exports its rich craft chocolate bars—available in 72%, 80%, and 100% cacao varieties—to markets in the Netherlands and the United States.

Ellen’s journey exemplifies the impact of development programs like Caribbean Export’s 10th and 11th European Development Fund (EDF) Regional Private Sector Development Programme. Through these initiatives, Caribbean Export has provided grants, training, and market access opportunities to Caribbean businesses ready to expand beyond local markets. With her EDF grant, Ellen was able to invest in new production equipment, which has significantly boosted her production capacity and enabled her to explore new product categories such as cosmetics.

Caribbean Export remains committed to supporting businesses like Tan Bun Skrati as they grow and diversify. Our organization is continually evolving to meet the needs of Caribbean exporters, offering a suite of new programs to support businesses at every stage of development. This includes the upcoming Art of Logistics webinar in collaboration with DHL, which will help businesses optimize their logistics strategies, as well as a certification program designed to enhance product standards and quality.

We look forward to seeing Ellen’s continued success and innovation, along with many other Caribbean entrepreneurs who are ready to make their mark on the global market. Watch the video below to hear Ellen and her partners share reflections on how Caribbean Export’s support has transformed their journey to new export markets.

During the period October 22 to 24, our Executive Director, Dr. Damie Sinanan, represented the Agency at the Commonwealth Heads of Government Meeting (CHOGM) in Samoa. The event brought together leaders from 56 Commonwealth nations to address urgent global challenges and strengthen collaboration, with a central focus on resilience in areas like climate change, sustainable development, and economic stability.

At CHOGM, Dr. Sinanan participated in the Commonwealth Business Forum, joining esteemed panelists such as The Hon. Julianna O’Connor-Connolly JP, MP, Premier of the Cayman Islands, Roy Lagolago, Head of Secretariat, PACER Plus Implementation Unit & Labour Mobility Secretariat and Ayo Otuyalo, Group Managing Director, Prime Atlantic Group to discuss “Reducing Barriers to Trade.” Andrew McKellar, Chief Executive, of the Australian Chamber of Commerce and Industry, chaired the plenary. The panel also featured addresses from H.E Nana Addo Dankwa-Akufo Addo, President of the Republic of Ghana and The Rt. Hon. David Lammy MP, Secretary of State, Foreign, Commonwealth and Development Office, United Kingdom.

During the discussion, Dr. Sinanan emphasized the importance of building Caribbean resilience through expanding trade, accessing new markets, and forging partnerships, particularly in Africa. He also highlighted digitalization as a critical success factor for MSMEs, underscoring the need for an enabling environment that fosters digital trade and supports small businesses in adopting innovative technologies.
Dr. Sinanan had the unique opportunity to briefly chat about the Sustainable Markets Initiative and the challenges and potential of small business development with His Majesty King Charles III, emphasizing the Agency’s commitment to building resilient economies across the region.

During his speech at the meeting of the heads, President Dr. Mohamed Irfaan Ali paid tribute to King Charles III, acknowledging his unwavering commitment to creating a better world and his dedication to reaching those who might otherwise be overlooked.

Key takeaways from CHOGM 2024 included the urgent need for action on climate adaptation, enhanced support for vulnerable nations, and investment in green initiatives. The creation of digital jobs, particularly for women and youth, emerged as a priority to address rising unemployment and migration.

At Caribbean Export, we remain dedicated to advancing a green economy transition through initiatives designed to boost CARIFORUM SMEs’ sustainability and competitiveness. We are working to align our region’s economic practices with global sustainability standards. Our upcoming Green Transition Grant Facility launching in 2025, is just one of the ways we aim to lead this transition.

Looking ahead to CHOGM 2026, which will be hosted in Antigua and Barbuda, our team is excited to continue advocating for the unique needs of small island states on the international stage and to champion the region’s progress in sustainable development and economic resilience.

The Caribbean Export Development Agency, in collaboration with the Delegation of the European Union in the Dominican Republic, the Ministry of Economy, Planning and Development (MEPyD), and the Ministry of Industry, Commerce and MSMEs (MICM), hosted the workshop “Business Opportunities in Europe and Latin America.” This event served as a unique platform for startups and technology companies in the Dominican Republic to establish product linkages with corporations from Europe and Latin America, exploring possibilities for strategic alliances aimed at innovation and growth in the international market.

The workshop is part of the Digital Connectors initiative, which is included in the EU-LAC Digital Accelerator program financed by the European Union as part of its Neighborhood, Development and International Cooperation Instrument (NDICI-Global Gateway). With over 170 corporations and 900 startups from Europe, Latin America, and the Caribbean connected in a cooperation network, this program seeks to drive digital transformation and foster strategic collaborations to provide solutions to the technological challenges of private companies worldwide.

Opening Remarks During the event’s opening, authorities emphasized the importance of international collaboration for the growth of the technological sector in the Dominican Republic. They highlighted that events like this workshop contribute to the global positioning of Dominican technology companies and strengthen their capacities to face challenges in the international market.

“Through Digital Connectors, we are committed to supporting the Dominican Republic and the entire region in building an innovation ecosystem with new opportunities for the growth and internationalization of local companies,” stated Melvín Asín, Head of Cooperation of the Delegation of the European Union in the Dominican Republic.

“In recent years, the country has experienced a significant digital transformation. The proliferation of connectivity, access to smart devices, and the implementation of emerging technologies have marked a transition towards a more digital society. Our government has made a strong commitment to digital transformation, making it a priority in the Multi-Year Public Sector Plan,” commented Olaya Dotel, Vice Minister of International Cooperation of the Ministry of Economy, Planning and Development (MEPyD).

“Collaboration with European and Latin American corporations is an invaluable opportunity for our startups to grow and face new challenges,” highlighted Fantino Polanco, Vice Minister for Industrial Development of the Ministry of Industry, Commerce, and MSMEs.

“At Caribbean Export, we are committed to driving digital transformation at the regional level and to the potential of our startups to integrate into global value chains. Through the EU-LAC Digital Accelerator, we aim for these companies to establish strategic connections and generate international business opportunities that drive their economic growth and job creation in the country,” declared Leo Naut, Deputy Executive Director of the Caribbean Export Development Agency.

Speakers and Topics Covered The workshop featured participation from experts in international partnerships and collaboration strategies in the ICT sector:

• Maika Gorostidi, Co-Director of the EU-LAC Digital Accelerator, who introduced the program’s objectives and detailed how it connects Dominican startups with corporations from Europe and Latin America.

• Francisco (Paco) Prieto, Co-Director of the EU-LAC Digital Accelerator, led the session on Strategic Connections: Companies from Europe and Latin America seeking collaborations with ICT companies and startups to generate business and address digital challenges, analyzing the opportunities and benefits of collaboration between startups and corporations.

• Miguel Rodríguez, Innovation Consultant of the EU-LAC Digital Accelerator, who shared key strategies for establishing business relationships with international corporations and startups, focusing on open innovation and solving common digital challenges.

This event marks the first workshop specifically aimed at startups and technology companies in the Dominican Republic as part of the Digital Connectors program agenda. The program will continue with other workshops focused on training corporations in open innovation, as well as bilateral meetings between these corporations and both governmental and private trade support organizations, to strengthen the technology ecosystem and facilitate strategic connections that drive the international expansion of the technology sector in the region.

The Caribbean Export Development Agency, in partnership with the Ministry of Industry, Commerce and SMEs (MICM) and the European Union (EU) in the Dominican Republic, has launched the “Digital Connectors” initiative. This groundbreaking program aims to create new business opportunities for Dominican industries in the digital sector.

Deputy Executive Director of Caribbean Export, Leo Naut, explained the initiative’s scope and benefits for both large corporations and SMEs at the event held at the MICM headquarters. “Participating companies in Digital Connectors will work with entrepreneurial startups and international experts. Local technology organizations will be able to identify new market opportunities and strategic alliances with key players from Europe, Latin America, and the Caribbean, achieving productive linkages that help them grow through the export of their services,” said Naut.

A New Era for Digitalization

The “Digital Connectors” initiative seeks to address the challenges of digitalization and create business opportunities by connecting companies from the Dominican Republic with innovation ecosystems in Europe, Latin America, and the Caribbean. This pilot program of open innovation will allow local companies to access high-quality digital acceleration services, opening up new commercial opportunities in digital transformation and global competitiveness.

The Digital Connectors program is part of the EU-LAC Digital Accelerator Programme, funded by the European Union’s Global Gateway.

Key Figures

The EU Ambassador to the Dominican Republic, Katja Afheldt, expressed, “The Digital Connectors program is a flagship example of European Union cooperation in the Dominican Republic: accompanying the country in its major reforms and innovation through knowledge transfer, the exchange of best practices, and support for the business sector and the talent of young Dominicans. This program paves the way for a more innovative, competitive, and digital future.”

“We are convinced that this collaboration with the European Union will allow us to continue advancing in our mission to create a more competitive, dynamic, and innovative economy,” stated Minister Bisonó.

Who Can Participate?

The Digital Connectors program targets technology companies and corporations operating in key sectors such as industry, consumer goods, tourism, logistics, distribution, energy, health, agribusiness, and pharmaceuticals, among others. It is also open to startups, entrepreneurs, and any company interested in improving its competitiveness through innovative and digital solutions. Interested companies can register through the following link

Upcoming Workshops

To socialize the concepts of open innovation and corporate entrepreneurship with local industries, a workshop will be held on October 28th for technology companies with expansion visions, seeking innovative solutions to grow in international markets. On October 29th, industries and corporations from various sectors will participate in a training session focused on companies willing to collaborate with entrepreneurs and technology firms from Europe and Latin America to identify innovative solutions that generate operational and financial improvements.

What is the EU-LAC Digital Accelerator?

The EU-LAC Digital Accelerator is a platform financed by the European Union (EU) as part of its EU-LAC Digital Alliance, created under the Global Gateway framework. Over five years, this initiative will facilitate collaboration between the private sector and various stakeholders from the EU, Latin America, and the Caribbean.

Led by TECNALIA, the Digital Accelerator brings together prominent international innovation players, such as IESE Business School, WAYRA-Telefónica, and the European Business and Innovation Centre Network (EBN), among others, promoting competitiveness, digital skills, and business transformation in Europe, Latin America, and the Caribbean.

Sustainable development is not just a buzzword in the Caribbean but a critical path toward securing the region’s future. As climate change intensifies, the need for sustainable practices has never been more urgent. From rising sea levels to increased hurricane activity, the Caribbean faces unique environmental and economic challenges that necessitate significant investments in sustainable industries and infrastructure. 

This week I attended the Caribbean Infrastructure Forum (CARIF) 2024 in Miami hosted by New Energy Events, CIBC and KPMG. One of the most anticipated discussions was the panel titled ‘Sustainable Development: How Does Investment in Sustainability Translate into Economic Wins for the Private Sector?’. The panel featured distinguished leaders, including our Executive Director, Dr. Damie Sinanan, alongside representatives from the United Nations as well as private sector business such as Sandals Resorts.  The session was moderated by CIBC’s Executive Director for Investment Banking, Gillian Charles-Gollop.  The discussion highlighted how sustainability investments can yield substantial economic benefits for businesses and the region at large. 

The Case for Sustainable Development 

The Caribbean region is highly vulnerable to climate change, making sustainable development essential for both survival and growth. Climate-induced threats such as rising temperatures, sea level rise, and extreme weather events like hurricanes are already causing damage to infrastructure and the economy. As highlighted in the panel, Gillian Charles-Gollop of CIBC noted that sectors such as water, sanitation, and energy infrastructure will require significant investment—up to $2.2 trillion by 2030—to meet the United Nations Sustainable Development Goals (SDGs).  

Beyond environmental resilience, sustainable practices offer a critical opportunity for economic diversification. The Caribbean’s heavy reliance on tourism (which contributes as much as 32% of GDP in some islands) makes its economy particularly vulnerable to global shocks. Investing in sectors such as renewable energy, sustainable agriculture, and circular industries can help mitigate these risks and promote economic stability. 

Economic Wins for the Private Sector 

During the discussion Dr. Sinanan emphasized that investments in green technologies and climate resilience are not only vital for environmental protection but also for boosting economic performance. According to a study he cited, investment in green technologies could create over 400,000 jobs in the Caribbean by 2030. For the private sector, sustainable investments offer direct benefits, including cost savings through improved efficiency, reduced carbon footprints, and enhanced competitiveness. 

For example, Sandals Resorts International, represented by Kirstin McCarthy, has integrated sustainability into its core operations. McCarthy shared how the company has managed to achieve long-term savings by making their resorts more energy-efficient and reducing their water usage. She emphasized that their approach – “building better with less” – not only reduces environmental impact but also increases profitability. Sandals’ holistic strategy, where sustainability is embedded in all aspects of their operations, is a model other businesses can follow. 

Public-Private Partnerships: A Key Driver of Progress 

The panelists agreed that the path to sustainable development in the Caribbean requires collaboration between the public and private sectors. Giuseppe Mancinelli from the United Nations Office for Project Services (UNOPS) underlined the importance of infrastructure investment in achieving SDGs. He emphasized that resilient infrastructure, which accounts for 80% of greenhouse gas emissions and 90% of adaptation costs, plays a central role in reducing climate vulnerability while fostering economic growth. 

Moreover, Jeremy Superfine, a developer responsible for Cricket Square in the Cayman Islands, pointed out that the public sector must create a regulatory environment conducive to private sector investment in sustainability. He suggested that clear rules and policies, coupled with financial incentives, are critical to motivating businesses to invest in green technologies and resilient infrastructure. 

Conclusion: Building a Sustainable Future Together 

In conclusion, the panel at CARIF2024 highlighted that investing in sustainability is not only a moral imperative but also an economic necessity for the Caribbean. As Dr. Sinanan aptly summarized, these investments offer practical, tangible benefits, from job creation to cost savings and long-term economic resilience. For the region to fully capitalize on the economic opportunities of sustainable development, collaboration between the public and private sectors is essential, as is the need for clear regulatory frameworks and forward-thinking policies. By taking bold steps today, the Caribbean can build a more resilient, diversified, and prosperous future that benefits both people and the planet. 

The Caribbean and the world have lost a remarkable leader, diplomat, and advocate for small nations with the passing of Sir Shridath Surendranath Ramphal. Born on October 3, 1928, in New Amsterdam, British Guiana (now Guyana), he rose to become one of the Caribbean’s most distinguished global statesmen. His career, marked by service to the Caribbean, the Commonwealth, and the international community, spanned more than five decades, leaving an indelible impact on global diplomacy and development.

As the Caribbean Export Development Agency reflects on its Memorandum of Understanding with the Shridath Ramphal Centre at the University of the West Indies (UWI), this moment offers an opportunity to honor the man behind the name—a figure whose life’s work focused on justice, equality, and advancing the interests of small and developing nations on the world stage.

Regional Leadership: Champion of Caribbean Integration

In the Caribbean, he is revered for his role in fostering regional integration. His early involvement in the creation of the Caribbean Free Trade Area (CARIFTA) laid the groundwork for what would later become the Caribbean Community (CARICOM). As Guyana’s Foreign Minister from 1972 to 1975, he was instrumental in promoting economic cooperation within the region, encouraging the development of shared institutions that would support Caribbean self-reliance.

His visionary leadership also extended to his advocacy for Caribbean unity on the global stage. He believed that the Caribbean’s collective voice could carry weight in international forums, giving small island nations a seat at the table on issues such as trade, development, and climate change.

Global Statesman: Commonwealth Leadership and Beyond

It was in the international arena, however, where Shridath Ramphal became a household name. As the second Secretary-General of the Commonwealth of Nations, serving from 1975 to 1990, he was a tireless advocate for the interests of the developing world. Under his stewardship, the Commonwealth became a vital platform for promoting social justice, environmental sustainability, and the economic rights of small nations.

Shridath’s leadership of the Commonwealth came at a critical time. The 1970s and 1980s were marked by intense geopolitical tensions, apartheid in South Africa, and growing global economic inequality. He played a pivotal role in the Commonwealth’s opposition to apartheid, standing firm against racial injustice and advocating for economic sanctions against the South African regime. His moral clarity and diplomatic skill helped to strengthen the global movement for human rights and justice.

The Shridath Ramphal Centre: A Lasting Legacy

In recognition of his contributions to Caribbean integration and global diplomacy, the University of the West Indies established the Shridath Ramphal Centre for International Trade Law, Policy, and Services. The Centre, based at the Cave Hill Campus in Barbados, is a tribute to his lifelong commitment to promoting the interests of the Caribbean in global trade negotiations.

The Centre’s work, which includes research, policy analysis, and capacity building, reflects Sir Shridath’s belief that the Caribbean must be proactive and united in asserting its rights in the international system. Through its partnership with organizations like the Caribbean Export Development Agency, the Centre continues to champion the cause of economic empowerment and sustainable development for the region.

A Life of Service

Sir Shridath Ramphal’s passing marks the end of an era for the Caribbean and the international community. He leaves behind a legacy of principled diplomacy, unyielding advocacy for justice, and a vision of a fairer, more equitable world. As we honor his life and contributions, we are reminded of the power of leadership that is guided by integrity, intellect, and a commitment to the common good.
For the Caribbean, Shridath Ramphal will always be remembered as a statesman who understood the unique challenges facing small nations and dedicated his life to ensuring that these voices were heard. His influence will continue to shape Caribbean diplomacy and international relations for generations to come.

Caribbean food is loved around the world for its taste, fresh ingredients, and special blends of seasoning.

Turmeric, ginger, cumin, thyme, nutmeg, cinnamon, and red pepper are just some of the herbs and spices that you will find in cupboards in most domestic and commercial kitchens around the region.

Many Caribbean cooks seem to innately know which flavourings to add to bring out the best in fish, meat, or vegetables. Guyanese businesswoman Christine Sinyangwe also has this gift.

Christine has been cooking since she was young and has always enjoyed experimenting with different dishes as well as picking up additional tips from cookbooks and food-based shows.

Christine was in the real estate sector for years, but when that business took a downturn in 2021-2022 and she was left with just $5,000 (GUY) to her name (equivalent to about $25 (US)), she decided to put her knowledge, experience, and passion for cooking to use and start her own food manufacturing business.

Initially, Christine made her unique blend of herbs and spices at her home in very small batches and only sold it to friends, family, and neighbours and at a local market.

Then, as she carried out some more research into labelling and bottling, Christine’s confidence developed and eventually she marketed her product as an all-purpose blend before adding a more concentrated version for meat, vegetables, and fish. She also created a hot pepper sauce.

As the business started to grow, Christine realised the potential for her products, and sought business advice from the Guyana Marketing Co-Operation. In the summer of 2023, Christine officially registered her ‘City Girl’ brand.

As a small business owner, Christine says she is always looking at ways to reduce her overheads, so she was happy to be invited to take part in an ISO 50001 Energy Management Workshop by the Guyana Office for Investment, which was hosting the event in collaboration with the Caribbean Export Development Agency and Republic Bank Guyana.

The three-day workshop aimed to help small and medium sized enterprises (SMEs) align with ISO 50001 compliance standards and teach them ways to effectively enhance their energy efficiency. It also outlined how SMEs could leverage energy reduction techniques and introduced participants to renewable energy opportunities to enhance global competitiveness.

Christine says the workshop opened her eyes to the various ways she could reduce her energy consumption and cut her bill. She has since implemented some small but significant changes including replacing her regular lightbulbs with energy efficient ones and making more use of natural light by working primarily in the day rather than at night.

Christine is also looking at buying a solar-powered garlic peeling machine for $100,000 (GUY). She works on her own and says hand preparing her ingredients takes most of her time. She soaks the ginger and garlic to make it easier to remove the skin, but a machine will get through thousands of garlic pieces in a day.

Industrialisation will also free Christine up to work on new products like her recently launched Guyanese Achar condiment made with tamarind and mangoes as well as a jerk seasoning and a chunky lime and pepper sauce which she is hoping to bring to market shortly.

“I definitely want to bring in some industrial equipment that runs on solar,” Christine says. “I’m currently looking around, speaking to people in that field, and doing my own research as well. I want to get something that will last because it is a big investment but within a couple of months, I will have made that change.”

She adds: “Venturing into machination is important for me. It’s hard to find good staff so I prefer to work by myself for now and use industrial equipment to make the preparation easier. I currently make 30 batches of each product a day but of course machinery will help me to scale up because I would like to start selling in more outlets in Guyana and add more products.”

Expanding her product line is Christine’s priority right now. She also wants to enhance her marketing efforts through traditional media and online so that one day ‘City Girl’ can become a household name at home and abroad.