Blog

On March 13-14, 2024, team members from the Caribbean Export Development Agency (Caribbean Export) attended the 2024 MSME International Conference and the VIII Inter-American Dialogue of High-Level MSME Authorities on the invitation of the Organization of American States (OAS) and the U.S. Chamber of Commerce. These events provided a platform for global leaders to converge and strategize on bolstering Micro, Small, and Medium-sized Enterprises (MSMEs) worldwide.

Caribbean Export was front and center, joining esteemed speakers such as Misha Lobban Clarke, Dr. Claire A. Nelson, Rick C. Wade, and Anthony Hinojosa in a riveting panel discussion on ‘Tapping Diaspora Markets for MSME Export Success.’ This session not only showcased the agency’s expertise but also underscored its commitment to leveraging diaspora networks for the advancement of Caribbean businesses on the global stage.

The agency’s efforts did not go unnoticed, as fellow panelists, including Jodie Dublin-Dangleben from Jaydees Naturals in Dominica, commended Caribbean Export for its unwavering support for regional enterprises and its steadfast dedication to MSME development. Such accolades serve as a testament to the agency’s impactful initiatives and its pivotal role in driving economic growth across the Caribbean.

Beyond the confines of conference rooms, Caribbean Export seized the opportunity to engage with key stakeholders from prominent organizations such as The World Bank/IFC, USAID, Inter-American Development Bank, U.S. Department of State, Pan American Development Foundation, and RTI International. These engagements are instrumental in fostering new partnerships and strengthening existing ones, paving the way for collaborative efforts aimed at enhancing Caribbean resilience and prosperity.

One notable meeting took place with Ambassador Louis Harold JOSEPH, Charge d’Affaires a.i. at the Embassy of Haiti in the United States, where discussions revolved around Caribbean Export’s plans to bolster private sector development in Haiti. Among the initiatives on the table was the launch of a recovery facility in collaboration with interested partners, underscoring the agency’s commitment to supporting economic revitalization efforts in the region.

As the curtains drew to a close on a week filled with meaningful exchanges and strategic collaborations, Caribbean Export returned home imbued with a sense of purpose and determination. The collective spirit of cooperation that permeated throughout the conference reaffirmed the agency’s commitment to empower Caribbean MSMEs and drive sustainable growth and prosperity across the region.

In the wake of this fruitful week in Washington, DC, Caribbean Export stands poised to continue its mission of championing Caribbean businesses, forging strategic alliances, and propelling the region towards a brighter and more prosperous future.

A senior level team from Caribbean Export was in Guyana from 4- 9 March, 2024 to meet with the host Government and related agencies to plan for the Caribbean Investment Forum (CIF 2024) scheduled for July 10-12, 2024 at the Arthur Chung Conference Centre.

Caribbean Export, in partnership with the European Union and the CARICOM Secretariat will host the 3rd edition of this landmark initiative under the patronage of His Excellency, Dr Mohamed Irfaan Ali, President of the Cooperative Republic of Guyana. President Ali, no stranger to the Agency having been the distinguished Keynote speaker at the 2022 Caribbean Investment Forum in Dubai UAE, positions Guyana again, as well as the rest of the Caribbean in this initiative to transform the region.

Guyana has consolidated its position as the world’s fastest growing economy in 2024 driven by the oil boom, registering 62% national output in 2022, and 27.2% and 34.2% expansion in 2023 and 2024 respectively1 . Moreover, the country’s economic landscape has shifted with the attendant support services for the petroleum and gas sector increasing from 0.2% of GDP in 2015 to 57.3% in 2022, displacing the agricultural sector as the country’s economic mainstay.

Despite this fortune, the country remains committed to its place as the breadbasket for the Caribbean and its food security pledge to increase agricultural production in foods such as rice, soy and other produce. Investments in modernising the agriculture industry are key, including smart and sustainable agriculture and innovations to its mega-farms to leverage Guyana’s landmass. As a colleague from Go-Invest, the national Investment Promotion Agency of Guyana shared an analogy, “all of CARICOM can fit into Guyana.” In addition, several large infrastructure projects are underway, from road expansion networks in Georgetown, to road links aimed at connecting with neighbouring countries Suriname and Brazil. It is therefore no surprise that at the recently concluded CARICOM Heads of Government meeting held just two weeks ago under the Chairmanship of President Ali, the meeting hosted His Excellency Luiz Inacio Lula Da Silva, the President of Brazil. This signals a commitment to strengthen south-south cooperation among the parties.

Moreover, anyone traveling to Guyana recently would understand the challenges of securing quality accommodation at reasonable prices. This however is set to change, with the addition of close to 1000 rooms to the accommodation listing by 2025. Internationally branded hotels such as Hyatt Place, Four Point Sheraton, AC Marriott and Marriott Courtyard Hotel will add Guyana to their global footprint and increase the value proposition of the country.²

Other sectors poised for investment include ICT and innovation, critical inputs for enhancing the digital landscape of the country to make it internationally competitive and to take advantage of all the developments that will emerge. Moreover, as more than 80% of Guyana is covered in forests3 , this augurs well for ecological services and green output. Consequently, while Guyana will experience record oil production in the coming years, upstream and downstream investments will be cross-cutting, catapulting economic yield. With a population of less than one million, there is insufficient local labour to meet the growing demand. Therefore, Caribbean nationals, and indeed others, will be heading to Guyana to take advantage of the growing economic activity, an ironic reversal as witnessed in the mid to late twentieth century when Guyanese left for the diaspora.

Based on the foregoing, Caribbean Export is therefore confident in its decision to host this forum with three featured themes for investment – Sustainable Agriculture, Digitalization of Business, and the Green Energy transition. The event is primed to follow the 2022 and 2023 iterations held in Trinidad and Tobago and the Bahamas respectively, with 500 business delegates in each showing, and global participation from more than 40 countries. These include investors and financial institutions, C-suite executives from regional and international conglomerates, and regional and international partners.

It would be remiss to not point out the strong partnerships that Caribbean Export has endured over the years in its work supporting the Caribbean’s private sector. Our 92% implementation rate achieved in 2023 for the 11th European Development Fund Regional Private Sector Development Programme which ended in September 2023 is proof of the Agency’s leadership in this space, and the high-level meetings over the week stand as a testament to the strength of our collaboration.

Thanks to the Head of the EU Delegation in Guyana Ambassador Van Nes, CARICOM Assistant Secretary General for Economic Integration, Innovation and Development Joseph Cox, IDB Country Representative for Guyana Lorena Solorzano-Salazar, as well as the leadership of several private sector agencies such as the Georgetown Chamber of Commerce and Industry, the Guyana Manufacturing and Services Association and the EU-Guyana Chamber of Commerce. The team also met with senior representatives of the Office of the President, the Ministry of Tourism, Industry and Commerce and Go-Invest. These partners were apprised of the work of the Agency, and on the staging of CIF2024.

CIF2024 will showcase the best of Guyana with the opening ceremony on Wednesday 10th July where H.E. Irfaan Ali will present his keynote address followed by a cultural evening and networking reception. The following two days will include morning plenary sessions with presentations of shovel ready projects in the three areas, as well as the investment village and expo featuring product demonstrations, business meetings and country presentations from Caribbean Investment Promotion Agencies in the afternoon.
Indeed, there is a buzz in Guyana, and the energy is palpable. We look forward to seeing you then.

1. https://www.spglobal.com/marketintelligence/en/mi/research-analysis/the-worlds-fastest-growing-economy.html#:~:text=Guyana%20registered%20the%20world’s%20highest,fastest%2Dgrowing%20economy%20in%202024 ↩︎
2. Guyana Tourism Authority, in Georgetown Chamber of Commerce Publication 2023 ↩︎
3. https://guyanainvest.gov.gy/wp-content/uploads/2020/11/G-iNVEST-Brochure-President-Ali-Speech-on-Guyana-Investment-Opportunties.pdf ↩︎

This week, I had the distinct pleasure of connecting with the Swedish Ambassador, Anders Bengtcén, and exploring potential trade bridges between the Caribbean and Sweden. My initial meeting with Amb. Bengtcén at the awarding of the Swedish Foreign Service Medal to Honorary Consul Titti Kerr sparked a fruitful follow-up discussion on fostering stronger trade ties together with our Senior Advisor for Competitiveness and Export Promotion, Natasha Edwin-Walcott.

Sweden presents an interesting opportunity for some Caribbean businesses seeking new trade and investment opportunities. Trade between CARIFORUM and Sweden is governed by the Economic Partnership Agreement (EPA) and has steadily increased over the period 2018-2022. As shown in the table below, the International Trade Centre (ITC) Trade Map reports that merchandise trade between CARIFORUM and Sweden increased by approximately 256% between 2018 and 2022. Albeit small quantities in the steady increase is encouraging.

In our meeting we explored our experiences of success with niche Caribbean products like Jamaican Blue Mountain coffee, Haitian cocoa, and Belizean turmeric at international trade shows like SIAL Paris, ANUGA, and the UK’s Speciality and Fine Food Fair. These triumphs highlighted the potential for Caribbean offerings in the Swedish market with the right market intelligence and cooperation.

Consumer trends in Sweden offer exciting opportunities for Caribbean businesses:

• Sustainability-conscious: Swedish consumers prioritize environmentally friendly products and ethical sourcing. Caribbean producers focused on sustainable practices can resonate with this value-driven market.
• Early adopters: Swedes are known for their tech-savviness and openness to new trends. Caribbean businesses with innovative and tech-enabled solutions can find a receptive audience.
• Quality over quantity: Swedes value quality over low prices. Caribbean products known for their unique flavours and craftsmanship can appeal to this discerning market.

As we embark on our upcoming programming to continue supporting Caribbean producers look out for opportunities to participate once again at SIAL Paris and also Vitafoods Europe in Barcelona.

Beyond trade, we also discussed leveraging Sweden’s renowned technological expertise, particularly in engineering. Our upcoming Caribbean Investment Forum in Guyana (July 10-12, 2024) will focus on three key areas where Swedish investment can significantly impact our economies: digital transformation, green economy transition, and sustainable agriculture.

Building stronger ties with Sweden can unlock significant benefits for both sides. By understanding consumer trends and leveraging the expertise of both regions, we can create a win-win situation that fuels economic growth and prosperity.

Are you a Caribbean business owner looking to tap into the Swedish market? Let’s explore the possibilities together!

Table: CARIFORUM Exports to Sweden 

	2018	2019	2020	2021	2022
CARIFORUM Aggregate	19,591	42,962	51,375	56,009	69,786
Antigua and Barbuda	4	0	0	0	0
The Bahamas	275	130	0	1	2,220
Barbados	380	410	199	331	720
Belize	6	14	7	7	6
Dominica	0	0	0	0	0
Dominican Republic	96,111	56,215	70,323	110,923	73,533
Grenada	0	0	7	0	0
Guyana	18	0	1	0	12
Haiti	nd	nd	nd	nd	nd
Jamaica	43	7	7	11	89
Saint Lucia	2	0	3	nd	nd
St. Kitts and Nevis	nd	nd	nd	nd	nd
St. Vincent and the Grenadines	0	0	239	0	0
Suriname	307	5	0	0	34
Trinidad and Tobago	135	2,766	6,680	7,136	17,708

Source: ITC Trade Map 

Units: USD thousand 

The 2024 Caribbean Investment Forum (CIF 2024) was at the forefront of the agenda during our Executive Director’s recent mission to Guyana from January 29-February 1, 2024. The Caribbean Investment Forum has emerged as the premiere regional forum bringing investors and businesses together to create deals in sectors that can drive regional transformation.

During the visit, Mr. Maharaj conducted high-level meetings with H.E., the President and key policy makers. He also engaged in dialogue with the CARICOM Secretary-General, development partners, the media and other stakeholders.

His Excellency President Dr Mohamed Irfaan Ali confirmed the government’s partnership in hosting CIF 2024 from July 10-12, at the Arthur Chung Conference Centre, Georgetown, Guyana. “I am delighted with the commitment of the President to this flagship initiative. Guyana clearly recognises CIF 2024 as a pivotal platform to bring investments to the Region to create jobs and opportunities for Caribbean people.” said Mr. Maharaj.

He added, “We are excited to showcase sustainable agriculture investment opportunities and innovation in the heart of the Caribbean’s breadbasket.”

The Caribbean Investment Forum is a crucial platform for shaping the region’s economic landscape by helping steer private investments in transformative sectors such as sustainable agriculture, technology and innovation and the green economy transition.

Discussions with the Secretary-General and other CARICOM officials explored avenues to extend partnerships from CIF to other programming areas. CARICOM has again committed to partnering with Caribbean Export for CIF 2024.

Mr. Maharaj had constructive engagements with other stakeholders, including Dr. Peter Ramsaroop who leads the Guyana Investment Agency. He remains supportive of advancing our impactful initiatives in the region. As Caribbean Export implements the Regional Private Sector Programme on behalf of the European Union, our focus will be on a few key areas. These include accelerating regional development through promoting green economy practices and digital transition. We will also focus on supporting Small and Medium Enterprises’ access to finance through the expansion of the range of financial offerings.

The short but fruitful mission strengthened existing relationships and lays the foundation for an exciting Caribbean Investment Forum 2024 which will help create jobs and opportunity for Caribbean people.

Last week, I had the opportunity to step out of the confines of the office and immerse myself in the dynamic world of financial technology at Fintech Islands. Hosted at the magnificent Wyndham Grand Barbados Sam Lords Castle, this event served as a beacon for thought leaders, innovators, and enthusiasts alike, converging to explore the ever-evolving landscape of fintech.

At Fintech Islands, the discourse spanned across several captivating tracks, each delving into the realms of innovation, sustainability, and inclusivity within the financial sector.

Session covered themes such as Artificial intelligence (AI) and how it’s transforming the financial sector, offering solutions from ChatGPT to combat cybercrime. Further the ethical considerations that must accompany its implementation to ensure responsible integration into financial services.

Redefining access to financial services was another area, delving into the emergence of mobile-first banking solutions that are reshaping how individuals, especially the unbanked and underbanked, access financial services. This revolution is highlighting the importance of inclusivity and accessibility in banking innovations.

Critical for the advancement of the sector is how central banks are embracing digital transformation, driven by advancements in technology and the rise of digital payments. The introduction of Central Bank Digital Currencies (CBDCs) is aiming to enhance financial efficiency and inclusion, ensuring that all individuals benefit from the digital age. And the proliferation of cryptocurrency, real-time solutions, and social networks is redefining digital payments, emphasizing convenience, security, and inclusivity in financial transactions. As innovations continue, prioritizing consumer needs and preferences remains essential for the seamless adoption of digital payment solutions.

Of particular interest to me was the session on climate fintech and how Fintech-powered solutions are crucial in financing the energy transition and enhancing resilience to climate change. By leveraging fintech, communities vulnerable to environmental threats can fortify their sustainability efforts.

Key moments included Diego Szteinhendler’s (SVP, Fintech & Enablers, Latin America and the Caribbean Mastercard) insights on fintech trends, Alfonso Garcia Mora’s (Regional Vice President International Finance Corporation, The World Bank Group) advocacy for inclusive development, and Martin Kwame Awagah’s (Board Member Africa Fintech Network) exploration of fintech’s role in African financial inclusion.

The panel discussion on “Banking on a Sustainable Path,” featuring esteemed leaders such as Chad Blackman (Minister of Economic Affairs & Investment Government of Barbados), David Griffiths (Associate Partner IBM Consulting), Anthony Clerk (Managing Director & CEO, Republic Bank (Barbados) Limited) and our Executive Director – Deodat Maharaj, provided a comprehensive overview of the challenges and opportunities in climate finance and mitigation.

From forging innovative partnerships to fostering educational reform, the discourse underscored the imperative of collective action in achieving sustainable development goals and fostering a resilient financial ecosystem.

As we reflect on the insights gleaned from Fintech Islands, one truth remains abundantly clear: the future of finance is not merely a destination but a journey—one defined by innovation, inclusivity, and sustainability. Let us embark on this voyage together, charting a course towards a brighter, more prosperous tomorrow in the true spirit of SDG 17 – Partnerships for the Goals.

Please note the offices of Caribbean Export will be closed from Friday December 22, 2023 and will re-open on Tuesday, January 2, 2024. 

Wishing you Happy Holidays and a Prosperous New Year!

When the Crafts for Export Cluster was launched for the first time in the Dominican Republic in June of this year, architect Fátima Polanco was already 18 years old when, together with two sisters, she started a business selling items including costume jewelry, her true passion.

After the experience with her sisters, she became independent in 2010, when she opened her first store and formalized her commercial activity with a view to reaching a wider and more diverse public. For this moment, it has also defined its design line and production materials in which the native, Dominican and island materials such as semi-precious stones Larimar and amber prevail.

Fátima Polanco 3 estilos, is the name of the brand created with her two sisters and that she has kept in honor of them. The designer, whose mission is to position her creations in the international market, is a member of the Dominican Federation of Artisans, FEDARTE, the National Association of Women Artisans, Designers and Artists, ANADAMA and the Promotion of Craft Development, FODEARTE, among others in the craft sector.

The Crafts Cluster of the Dominican Republic is made up of the subsectors of jewelry, fashion, accessories, textiles, decoration, wood and recycling, and is an initiative supported within the framework of the Trade and Private Sector Support component of the Haiti/Dominican Republic Binational Cooperation Program financed under the 11th International Cooperation Program. European Development Fund and implemented by Caribbean Export. Under this same program, Fatima Polanco 3 estilo is a beneficiary of the binational chain of handicrafts, jewelry, fashion and accessories.

Thanks to her participation in the program, the designer has received technical assistance for the formulation of the re-launch of her brand, with updating of the digital platform and networks.

The optimization of the brand’s graphic line, as well as having a stronger presence on the web and social networks, has contributed to the strengthening of the company, achieving a more recognizable image in the eyes of the public and more in line with its nature. On the web, we are working to improve the user experience, facilitating the navigation of potential customers and a better display of jewelry in a visually attractive catalog.

With the support of Caribbean Export, it has also acquired equipment to contribute to the development of productive capacities that in turn are at the service of the artisan sector, including women and young people interested in strengthening capacities with workshop and training programs that allow the promotion of links to increase the competitiveness of production, allowing access to international markets and thus improve the quality of life of the artisan sector. On the other hand, the opportunity to acquire endemic materials of the island for the elaboration of jewelry, which increases the economic development of the sector and that the raw material is acquired from local producers both in the country and in neighboring Haiti. This promotion contributes to strengthening the production capacity of the handicraft value chain, promoting creative diversity and optimizing product marketing processes.

Currently the raw material par excellence of Fatima Polanco’s creations are the semi-precious stones larimar and amber native to the Dominican Republic and in this way she is profiling her company as a Country Brand, “guaranteeing to show the world the beautiful shades and colors of Larimar, and position our handcrafted jewelry as the number one option in the national and international market”.

As part of this support provided by Caribbean Export, the exhibition of handcrafted jewelry “Symbiosis” was held, of which she was part, and in which the public could enjoy and purchase handcrafted jewelry made with raw materials from the island, including larimar and amber, jasper, malachite, azurite. This production, marked by process improvement and added value, corresponds to the objectives of targeting binational handicrafts to foreign markets.

For Fatima Polanco, the Agency’s support will contribute to strengthening the country’s handicraft sector in terms of training, specialization and the evolution of quality levels to meet the demands of a more demanding international market, especially the English Caribbean. The Crafts for Export Cluster is part of the results of the Caribbean Export program, whose initiative includes companies, public and academic institutions related to the jewelry, fashion and decoration sectors.

For the future, Fátima Polanco envisions teamwork in the handcrafted jewelry sector with a view to creating greater opportunities for the growth and productive and economic capacity of the sector that will position and promote it to capture new international markets, placing the Dominican Republic at the forefront with colorful and modern designs, positioning the larimar in all the showcases of the world.

The Spanish explorer and conqueror Juan Ponce de Leon, who was governor of Puerto Rico, and conqueror of Florida (he lived in our country before going to Puerto Rico) thought that when he sighted the things of Florida, it was the mysterious island of Bimini, they thought it was an island, which was what this advance guard of the crown was looking for. Specifically, the mysterious island of Bimini, a place where, according to natives of Puerto Rico and Quisqueya, there was a fountain that “turned old men into young men”. While others sought gold, the colonizer sought something even more valuable, eternal youth. He never made it to the island, and of course, he never found the fountain of youth either.

But myth and history have kept alive the idea of trying to avoid aging and its consequences. And we have come a long way. The market is overflowing with offers and promises to counteract the passage of time. Wonderful creams, cosmetic surgeries, pills and potions with extraordinary properties.

But in our country, Leonardo de León Miranda, who according to his father, belongs to the descendants of the Spanish conquistador, has dedicated part of his life to study and obtain from nature products that, although they do not promise eternal youth, are a natural alternative to maintain health and general wellbeing.

A natural sportsman, De León always felt the need to consume products and supplements free of industrial processes, and in that personal search he started what today has become a successful project that in a short time has positioned itself as a natural alternative for food supplements and cosmetic products based on what nature has to offer.

“More than 20 years ago I was looking for protein supplements, because I have always exercised and I needed and need that supplementation. But I couldn’t find what I was looking for, neither in the country nor in the United States. I was looking for something that had no sweeteners, no flavorings or preservatives, that was as natural as possible. What I found had at least six chemical or artificial ingredients and my body did not like that. When I consumed that, my body reacted against it, it rejected it. I started to prepare my own supplements from natural products such as cocoa, products without chemical processes. That was the beginning, because when I saw the results in me, I thought that this could benefit many people. That was the beginning of The Fountain of Youth,” Leonardo de Leon tells us.

The products offered by La Fuente de la Juventud are obtained from fruits and plants carefully cultivated and selected to guarantee the consumer products free of artificial elements, guaranteeing verifiable results in their health.

The quality of Fountain of Youth ‘s natural products has been welcomed by customers. “The people who have tried our products have shown absolute satisfaction with the results. This is part of our success,” says De León, who never misses an opportunity to express his pride and gratitude for what has been achieved so far.

La Fuente de la Juventud has its organic farm in Rancho Arriba, San José de Ocoa province, but it has also built up a portfolio of suppliers that guarantee products whose cultivation process it oversees. “We wanted to involve small producers, especially women, whom we teach to grow and handle the products we buy from them, giving them the opportunity to obtain a source of resources, to develop themselves,” explains the president of La Fuente de la Juventud.

Caribbean Export, an invaluable help

De León does not miss an opportunity to highlight the support received by Caribbean Export, without which he believes he could not have taken his project to the level it is currently at. “Caribbean Export is present in every success we have achieved, in every product we exhibit. That is why their brand is on the label of our products, as a sign of pride, recognition and guarantee”, he expresses visibly excited.

“Our relationship with Caribbean Export began when we participated in a contest organized by them, and we won with a project to create essential oils. Thanks to that first support from Caribbean Export, we have become the first factory that produces from the bush, we are an absolutely ecological and organic factory,” says De León.

It is currently part of the project led by Caribbean Export to strengthen the binational value chain of essential oils/cosmetics, which is part of the trade and private sector support component of the Haiti-Dominican Republic binational program with funds from the 11th European Development Fund.

“As part of this program, one of the major achievements was the installation of a water purification system that updates our irrigation and production processes. This ensures optimum water quality for our processes,” added De León.

Africa is rising,with one main reason being the increased and sustained efforts on boosting intra-African trade. Traditionally, the trade of the individual countries in Africa followed routes and patterns established since colonial times. The African Free Trade Continental Area, the largest free trade area in the world in terms of the number of particpating countries, is changing that narrative. Given the massive opportunities arising from greater African trade, there are also good options for boosting the African-Caribbean trade and investment partnership. In this context, Caribbean Export joined the landmark Intra-African Trade Fair 2023 (IATF 2023) in Cairo, Egypt, last week.

IATF 2023, held from November 9-15, unfolded as a pivotal platform for fostering economic ties and cross-border collaboration while showcasing the continent’s vibrant diversity. This pioneering initiative welcomed thousands of business owners and trade experts, providing an invaluable forum for meaningful discussions on pressing topics. These included private sector development, trade facilitation, investments, digital trade, the importance of digital financial inclusion and quality infrastructure. Delegates gleaned insights that transcended borders, laying the groundwork for a future marked by strengthened economic partnerships and mutual growth, including the emphasis on business.

Recognizing the strategic imperative of enhancing collaboration, our Executive Director, Deodat Maharaj expressed his enthusiasm at participating in this significant event. The invitation extended by the African Export-Import Bank (Afreximbank) to serve as the Caribbean Ambassador for IATF 2023 demonstrated the growing recognition of the mutual benefits that lie in advancing the alliance between Africa and the Caribbean.

Reflecting on his participation, Mr. Maharaj emphasised: “The imperative to deepen the trade and investment relationship with Africa is clear. Witnessing the Caribbean contingent in Cairo, as we celebrate the pinnacle of African excellence, engaging in the exchange of ideas and fostering new connections demonstrates our commitment to this objective. My sincere congratulations to Afreximbank for adeptly orchestrating yet another successful event.”

Throughout various panel discussions, the common challenges faced by Africa and the Caribbean, particularly the need for bankable projects, became evident. Addressing these challenges not only requires innovative solutions, but also a heightened level of collaboration. The event’s dynamic celebration of the creative sector underscored the potential of the arts as a formidable catalyst for economic opportunities between Africa and the Caribbean. It highlighted the prospect of the creative sector becoming the next frontier for trade between these two regions, offering a promising avenue for mutual growth and exploration.

The Caribbean actively participated in the event led by Barbados and St Lucia. Caribbean Export’s role as an IATF 2023 Ambassador, coming just months after our first trade and investment mission to West Africa, amplifies the momentum established for Caribbean businesses to actively collaborate with their African counterparts and foster mutually beneficial opportunities. This is one sure way to deepen our trade and investment partnership with Africa. It is about less talk and more business.

Dr. Lynette Holder and Dr. Leroy Almendarez, have been reelected as Chairperson and Deputy Chairperson of Caribbean Export Development Agency’s Board of Directors this past October 26, 2023 at latest board meeting held in Nassau, The Bahamas. Their unopposed re-election underscores a strong endorsement of dedicated leadership in the midst of ongoing regional challenges. In recent years, the Agency has faced the task of repositioning itself, and the Board, collectively, has shown steadfast support throughout this transformative period.

Caribbean Export operates with a profound mandate – to foster sustainable economic development and regional integration throughout the Caribbean. It aspires to uplift the lives and prospects of the diverse nations within the Caribbean region. This commitment is reflected in the Agency’s multifaceted efforts aimed at enhancing trade, investment, innovation, and entrepreneurship – all essential ingredients for the advancement of this vibrant and culturally rich community.

At the heart of Caribbean Export’s operations is its Board of Directors, a group of dedicated individuals, representing the 15 member states of CARIFORUM, who serve as the Agency’s guiding compass, steering it towards the attainment of its goals and ensuring that its efforts contribute to the betterment of the region.

Regarding her re-election to the Board, Dr. Holder stated: “ The overwhelming support from my regional colleagues has been both humbling and an encouragement that we are on the right track in making the agency fit-for-purpose at this time. Caribbean businesses and by extension people, expect their regional export development agency to provide the programmes and interventions needed to make a tangible difference in their lives and livelihoods as we confront a myriad of internal and external challenges. I am appreciative to every Director for reposing the confidence in me to lead the team for another term.”

One of the Agency’s core principles is the practice of good governance. Transparency, accountability, and ethical conduct are the cornerstones of Caribbean Export’s operations. This commitment not only ensures the organisation’s integrity but also positions it as a beacon of hope and opportunity for the people of the Caribbean region.

Together with the collective wisdom of the Board of Directors, Caribbean Export is well-poised to realise its vision of a prosperous and integrated Caribbean, where economic growth and cultural richness can coexist harmoniously, bringing prosperity and opportunities to the nations and people of the region.

Standardization is a key element in supporting innovation and conveying knowledge. Over the last ten years, cooperation between Haiti and the Dominican Republic on standards has developed and intensified through a partnership supported by the bi-national cooperation program.

Improving the quality of goods produced in both countries, promoting and formalizing trade and consolidating institutional cooperation between Haiti and the Dominican Republic are the main thrusts of the bi-national cooperation program between the two countries, whose “trade and private sector component” is being implemented by the Caribbean Export Development Agency, Caribbean Export, with support from the European Union. The partnership between the Bureau Haïtien de Normalisation, BHN, and INDOCAL, the Dominican standards bureau, is a concrete expression of these three objectives.

BHN guarantees standards in Haiti

Created in 2012, the Bureau Haïtien de Normalisation (BHN) is under the supervision of the Ministry of Commerce and Industry. Its mission is to develop, certify and publish standards for all fields: products, services or organizations. It is also responsible for distributing documentation relating to standards (guides and procedures), marks of conformity and quality labels. The BHN is also the organization that enables certification, and above all, it is the sole guarantor of metrology, i.e. the scientific guarantee of measurements: this enables any buyer to be assured that when he buys a liter or a gallon, there really is a liter or a gallon of product.

A specialist in agro-industry, Monorde CIVIL joined the BHN at its inception and has been its director since 2020. ” As early as 2013, cooperation and collaboration between the two neighboring countries, Haiti and the Dominican Republic, was supported and promoted by the European Union’s 1^0th EDF,” he explains, citing the first collaboration protocol signed between BHN and Indocal. For him, this bi-national collaboration on standards is essential, as it is the cornerstone of trust between the two countries, and more broadly at the international level, where the BHN represents Haiti.

Successful partnership between BHN and INDOCAL

As of 2013/2014, Caribbean Export, which is in charge of this aspect of binational cooperation, is inviting entities from the two neighboring countries to create quality infrastructures and work together. BHN and Indocal take part in quality events, exchange information and know-how, and take part in training courses together. Technicians from the two offices train together, particularly in metrology, especially for mass and volume. ” Our missions are the same, but our challenges are different ! Indocal has been around longer and has more experience, but above all it has a law that creates the Dominican standardization and quality system,” explains Mr. Civil, who regrets that Haiti has not yet been able to pass the law prepared by the BHN.

The BHN and Indocal have been cultivating a fruitful collaboration for some ten years now, which has intensified with the bi-national cooperation program. The two institutions took a closer look at the three value chains supported by Caribbean Export under this program: cocoa and chocolate, essential oils and handicrafts. The security situation in Haiti has unfortunately reduced the scope for action, but through this highly technical collaboration, the two institutions have made enormous progress in establishing quality standards, particularly in the cocoa and chocolate sectors.

A bi-national standard for chocolate

“For there to be a standard, all the stakeholders have to come together in a technical committee and agree by referring to an international standard. “explains the BHN director. Indocal therefore set up a technical committee and organized bi-national meetings with the BHN. Both countries referred to the Codex alimentarius standard, which all countries use for the food sector. As a result, the chocolate standard has been published by the Dominican Republic, and as soon as it has been translated into French, the Bureau Haïtien de Normalisation will approve it for Haiti too. This standard guarantees the quality specifications for the product in question, and as the two institutions have signed a cooperation agreement, this will open up access for a “chocolate” product to standards in the other country, and vice-versa.

A common language : metrology

Despite the Covid 19 pandemic and the upheavals in Haiti that have slowed it down, the bi-national partnership between BHN and Indocal has gone from strength to strength. From an exchange platform, cooperation has moved on to training courses, notably on the certification system for both countries. In the field of metrology, technicians from both countries, who attend training courses all over the region, also worked in pairs on highly specialized courses in the Dominican Republic. ” The technicians in both countries are highly trained and work in the same way. Even if English and Spanish have to be combined for training courses, their common language is definitely metrology. Exchanging skills and know-how is a win-win situation “Mr. Civil is pleased to report that, following the training course, a department was set up to check propane kiosks in Haiti.

A website under construction for BHN

Thanks to the bi-national program, BHN will soon be able to set up its own website. ” This portal is essential for raising awareness and communicating about the institution’s work, and for connecting the BHN and its users. Standards concern all aspects of life. There are standards for products and services, but also for adaptation to climate change, environmental standards, and so on. Our work is very cross-functional, and every time a standard is approved, it is published on the “He is delighted to see this site project, undertaken and supported by Caribbean Export in 2022 and 2023, moving forward. From now on, all the standards currently available at the BHN will be accessible and can be obtained, for a fee, by interested parties in Haiti, to produce or serve in compliance with national, binational and, in some cases, international standards. We will also be publishing information on training courses available to young people, as well as public surveys. A major step forward for BHN and for national and bi-national standardization.

What is the Digital Check-up?

Are you a micro, small or medium-sized enterprise (MSME) looking to navigate the digital landscape successfully? The Digital Check-up is the key to unlocking your digital potential. The Digital Check-up is a powerful diagnostic tool, designed to assess and evaluate the digital capabilities and readiness of a small business. The Check-up will assist the owners and/or managers of MSMEs to understand the current level of digital maturity of the business, identify areas for improvement, and provide comprehensive recommendations to guide digital adoption, consistent with their digital level of maturity.

Assessing your Digital Readiness

To determine the level of maturity of your business you will be required to answer a series of questions in seven (7) crucial areas of digital transformation, such as online presence, digital marketing, e-commerce, data management, and technology infrastructure. The platform’s built-in analytics and algorithms will analyse the responses to provide an assessment of your business’s digital strengths and weaknesses.

Your Personalised Roadmap to Success

One of the most significant benefits of the Digital Check-up is the actionable recommendations it offers based on your digital maturity level. After completing the assessment, you’ll receive a PDF document with targeted strategies to take your business to the next level of digitalization. The project includes other components linked to the Check-up that your company will benefit from, including free access to courses as part of learning tracks on the Caribbean Digital Transformation Institute (CDTI), an E-learning Management Platform designed specifically for this project.

The Digital Check-up provided under the CDTI Project, a 3-year initiative funded by the Inter-American Development Bank (IDB) and Implemented by the Caribbean Export Development Agency, is designed with MSMEs in mind.

The Check-up is modeled on a similar tool used by thousands of businesses in over 13 Latin-American countries. This version has the benefits of improvements informed by lessons learnt from its previous deployment and use in these countries.

Why should you use the Digital Check-up?

In addition to learning about your digital maturity level and your strengths and weaknesses in digitalization, here’s why the Digital Check-up is an essential tool for MSMEs:

• Benchmarking Against Industry Standards:
  • The tool will assist you in benchmarking against industry standards or best practices. This comparison provides a clear roadmap for improvement and helps you set achievable goals.
• Opportunities for Innovation:
  • By identifying gaps or areas with low digital maturity, your organization can explore innovative solutions and technologies that have the potential to drive growth, enhance efficiency, and improve competitiveness.
• Enhanced Customer Experience:
  • The Check-up helps identify gaps in your customer engagement, user experience, and digital touchpoints. Addressing these gaps can lead to improved customer satisfaction and loyalty, as well as increased sales and market share.
• Cost Optimization and Efficiency Improvements:
  • Streamlining your operations, automating tasks, and adopting digital tools, can optimize resource allocation, reduce costs and improve overall efficiency.
• Strategic Decision-Making:
  • Understanding your company’s digital strengths and weaknesses, empowers you to align digital initiatives with your business objectives, allocate resources effectively, and prioritize investments that deliver maximum value and impact.

Your Path to Digital Transformation

Once you’ve completed the Digital Check-up and received your personalized recommendations, your journey toward digital transformation becomes clearer. Here are some concrete next steps:

Access targeted courses on our online learning management platform, the Caribbean Digital Transformation Institute. These courses are part of learning tracks that seek to address the knowledge and skills needs of businesses based on their level of digital maturity.

Collaborate with a digital transformation services provider or advisor armed with data-driven insights, from the Check-Up, to help your business create a tailored digitalization and investment strategy. This strategy can be instrumental in securing funding from various sources to support your digitalization efforts. Having a data-driven, information-rich strategy and investment plan increases your likelihood of success of attracting and receiving funding or other types of support.

By completing the Digital Check-up and accessing its direct benefits, your company gains a competitive advantage in exploiting the growing opportunities for digitalization support from various agencies.

Click here to take the Digital Check-up today!