Caribbean business and the Region’s trade and investment agenda will benefit following yesterday’s agreement between the Caribbean Export Development Agency (Caribbean Export) and Corporación Andina de Fomento (CAF) – the development bank of Latin America, on a framework of cooperation to support private sector transformation across the Caribbean.
The Heads of the two institutions signed a Memorandum of Understanding (MOU) in The Bahamas at the 44th CARICOM Heads of Government meeting on the 16th of February 2023.
Caribbean Export and CAF have agreed to work together in the areas of research, data collection exchange and analysis on sustainable development, trade and investment promotion issues affecting Latin America and the Caribbean with the view to strengthening opportunities for sustainable private sector growth.
Central to regional transformation will be the institutional strengthening and capacity building of businesses to enhance the productivity and sustainability, particularly in the areas of technology and innovation, digital transformation, green energy and entrepreneurship. Together they will focus on addressing key issues related to regional integration, trade and investment promotion.
CAF is a development bank focused on improving the lives of Latin American and Caribbean people. An institution which aims to become the green and blue bank of the region, CAF vision aligns well with Caribbean Export’s areas of strategic focus to advance the region’s transformation.