Blog

Santo Domingo, Dominican Republic – Caribbean Export’s Executive Director, Deodat Maharaj, visited the Dominican Republic  in March 2023 where he met with key stakeholders from the public and private sector. This was Mr. Maharaj’s first mission to the Subregional Office since taking up the post of Executive Director. While in Santo Domingo, he held meetings with the Dominican Republic Exporters Association (ADOEXPO), the Dominican Republic Export and Investment Promotion Agency (ProDominicana), the Ministry of Foreign Affairs (MIREX), Ministry of Economy and Planning (MEPYD)and the Vice Ministry of Foreign Trade of the Ministry of Industry, Commerce and MSMEs. Mr. Maharaj also had the opportunity to discuss regional matters with the Ambassador of the European Union to the Dominican Republic.

During his visit, Maharaj had the opportunity to meet with the press and exchange information about the Agency’s regional programs. He also spoke on how the Agency is undergoing a transition process that seeks to align with new areas relevant to international economic development, such as the transition to a green economy, the incorporation of technology in traditional economic sectors, and innovation and digitalization of our business across the board. Maharaj shared the Agency’s vision of leveraging the Subregional office in the Dominican Republic to serve as a bridge to enhance commercial opportunities between Latin America and the rest of the Caribbean.

Besides the high-level stakeholder meetings, Maharaj spent some time engaging with local media outlets in order to raise the visibility profile of the Agency. He was a guest on the radio program “Almuerzo de Negocios,” where he highlighted some of the success stories of Dominican companies abroad through the agency’s programs that have strengthened the commercial exchange of regional businesses. He also discussed the upcoming Caribbean Investment Forum (CIF), which will be held in the Bahamas in October of this year. The event aims to attract investors to the region and will focus on attracting investment in the Agrotech, Green Economy, and Technology sectors.

In an interview with El Nacional newspaper, Maharaj indicated that one of the new markets the region is focusing its attention on is African countries. “There are great business opportunities in Africa for the Caribbean. A large percentage of the African population is young and interested in novelty,” he said. The agency plans to explore this market through a trade mission in June, which will be accompanied by a large delegation of entrepreneurs and trade promotion agencies from the Caribbean.

A contingent from The Caribbean Export Development Agency (Caribbean Export), recently met with government stakeholders and partners in Saint Lucia to discuss the Agency’s services, impact and relevance. Led by the Executive Director Deodat Maharaj, during March 22- 24, 2023, Caribbean Export’s visit to Saint Lucia aimed to establish clear priorities and chart a concrete programme of support for local businesses.

During the visit, Caribbean Export met with partners, including the Prime Minister, the Minister of External Affairs and International Trade and Civil Aviation, staff of Ministry of Commerce, Manufacturing, Business Development, Cooperatives and Consumer Affairs, Invest Saint Lucia and the Chamber of Commerce, Industry and Agriculture.

The team had the pleasure of meeting the Honourable Philip J. Pierre, Prime Minister of Saint Lucia and hearing his government’s priorities, particularly on trade and investment. From the extensive discussions it was clear that the Agency’s work mirrors the government’s transformational agenda, which focuses on creating jobs and opportunities for the people of Saint Lucia. Caribbean Export lauded the Prime Minister on his imminent launch of the Youth Economy Agency and attendant programme that seeks to build capacities in Saint Lucia’s young entrepreneurs.

Caribbean Export also engaged in discussions with the Honourable Alva Baptiste, Minister for External Affairs, International Trade and Civial Aviation and his team. Here, the meeting focused on international partnerships and leveraging Caribbean Export’s role in assisting in the implementation of agreements such as the EU-CARIFORUM Economic Partnership Agreement (EPA) through years of dedicated support in training, capacity building and overall technical assistance to the private sector to take advantage of those agreements. In light of the UK-CARIFORUM EPA, the agency is looking forward to similar focused work.

As the Agency continues to pave the way for transformative investments across the Caribbean, one of the highlights of Caribbean Export’s visit was meeting with Invest Saint Lucia’s CEO, Octavian Charles, and his team. During the discussions that surrounded the identification of bankable investment projects around three main priorities; renewable energy, digital economy and agriculture technology, Caribbean Export took the opportunity to signal the upcoming second iteration of its Caribbean Investment Forum scheduled for October 2022.

Said Mr. Maharaj of the visit, “The discussions demonstrated a clear appreciation of our strategic plan’s priority areas, which are fully consistent with Saint Lucia’s goals. I’m delighted with our engagements over the three days, and we look forward to strengthening our support to the Saint Lucian private sector.”

As a dedicated organization committed to promoting trade and investment across the Caribbean, Caribbean Export shares the vision of business playing a vital role in the region’s economic growth. The organization is proud to be leading the way in facilitating transformative investments, supporting local businesses, and creating jobs and opportunities for the people of the Caribbean.

Today, the 8th of March is celebrated the world over in many different ways, and often used to advocate on issues affecting women and to inspire others for positive change. Believe it or not, the day’s origins go back as far as 1908 when 15,000 women took to the streets of New York to march in demand for shorter hours, better pay and voting rights.

Still in 2023, we are calling for the businesses and governments to address the gender pay gap. For example, in the European Union the gender pay gap stood at 12.7% in 2021 and only changed marginally over the past decade. In the United States, it was reported that all women were paid 83% of what men are paid in 2022, be the US Department of Labor. And, women of colour are paid even less. Unfortunately, Black women are paid 64% or 64 cents to every dollar and Hispanic women were paid 57% or 57 cents to every dollar earned by white non-Hispanic men.

At the recently held virtual Lunchtime Chat hosted by the University of the West Indies to mark International Women’s Day executive director at Compete Caribbean, Dr Sylvia Dohnert, highlighted that the majority of large corporations were owned by men and women-owned businesses were in the minority, “In the population of business in the Caribbean they average around 20 per cent [female-owned or predominantly female businesses] . . . There’s a correlation between the size of the business and female ownership so the larger the firm, the less likely that it is being owned by a female and this difference is statistically significant,”

So, how do we get equality? And how do we get equity for women across the world in all areas of our societies, be it education, healthcare, employment and also business?

This year’s theme for International Women’s Day is #EmbraceEquity, a call to get people talking about why equal opportunities are no longer enough and can in fact be exclusionary, as opposed to inclusive.

At Caribbean Export, I am fortunate to be part of a diverse team where all perspectives are respected and heard. As we implement our programmes and activities to support the development of the Caribbean private sector, we have experienced that on average 52% of the participants are women. It’s great to see that women are leveraging the support that is offered whether for their own business or to contribute to the success of the company they are employed by.

The Caribbean Export tools and resources are available to everyone equally, and I hope that businesses use them to their advantage. But, we understand that every business is different and has different development needs.

Caribbean Export uses its SME Diagnostic Tool to assess the small businesses and to identify the areas where development and support are required. This enables us to tailor the right solutions to give businesses to best foot forward to succeed in exporting.

I was fortunate enough to work with a group of women-owned businesses as part of our WE-Xport (women-empowered through export) programme. After understanding their different needs, we were able to provide a suite of services that included capacity building, businesses coaching, export promotions and technical assistance in specific areas. As a result, many of these businesses were able to either start or increase exports, achieve certifications, enhance their branding and marketing and even leverage the support from one-another for the development of the business.

While International Women’s Day is a great opportunity to raise awareness and take action to promote gender equality, it is important that we continue this work every day. Achieving true gender equality and equity requires consistent effort and a commitment to making changes both big and small in our daily lives. Whether it’s challenging gender stereotypes, advocating for policies that promote equal opportunities, or supporting women in leadership positions, we all have a role to play in creating a more equitable world. Let’s work together to make every day International Women’s Day!

“When girls are given the right tools to succeed, they can create incredible futures, not only for themselves but also for those around them.” Meghan Markle

It’s been one month since Caribbean Export’s Executive Director and Services Specialist met with Government Officials in Grenada to advance the country’s transformational agenda. One of the key takeaways from that engagement was the identification of capacity building support to the islands’ agro-processors.

Consequently, a 2-day workshop, entitled “Leveraging CARIFORUM Trade Agreements” was hosted by Caribbean Export, in partnership with the European Union Delegation in Barbados from 22-23 February 2023 at the Radisson Grenada Beach Resort. This workshop covered several topics that are key considerations for MSMEs that are already exporting, or those considering exporting to the European Union.

Minister Joseph Andall, Minister for Foreign Affairs, Trade and Export Development delivered the opening remarks, demonstrating the government’s commitment to the private sector. He noted “The Government of Grenada is committed to building and supporting the development of world class brands that are capable of successfully competing in both regional and international markets, with special focus on the European market. As such, this workshop today is critical for firms that are serious about taking advantage of trade agreements such as the CARIFORUM-EU Economic Partnership Agreement and getting their products into those markets.”

Ms. Carlene Hamiliton of the EU Barbados and Eastern Caribbean States delegation navigated the EU export requirements portal to a packed room of close to 50 participants comprising representatives from 35 MSMEs and 11 Ministry and Business Support staff. Ms. Mikaela Stoute – Research Officer Market Intelligence and Ms. Natasha Edwin-Walcott, Senior Advisor Competitiveness and Export Promotion from Caribbean Export emphasized ways to assess a firm’s export readiness, leveraged key market research and intelligence tools and showcased how to prepare for export promotion and enter new markets. As far as possible, real-world examples were demonstrated, highlighting the opportunities and export potential of Grenadian products, but also the challenges of market access.

The Grenada Trade and Investment Officials as well as Grenada Bureau of Standards presented on the Grenada economy and the importance of standards and labeling in exporting products.

Participants’ products ranged from seamoss, teas, chocolate, water, sauces and condiments as well as service providers. By the close of the session on day two, the room was just as full as day one. Representatives were fully engaged, provocative in their thinking and ready to improve their business and export plans to take advantage of the trade opportunities presented.

Caribbean Export acknowledges the support provided by the local partners and business support organisations such as the Ministry of Foreign Affairs, Trade and Export Development, Grenada Investment and Development Corporation and the Grenada Chamber of Industry and Commerce for the leadership in hosting this event.

Jamaica Blue Mountain coffee is known for its unique flavour profile and high quality, which makes it a sought-after coffee by many coffee enthusiasts around the world.  A specialty coffee grown in limited quantities in the Blue Mountain region of Jamaica, it is generally considered to be one of the most expensive and exclusive coffees available in the world. Its rarity and high quality have contributed to its popularity and high demand among coffee aficionados.

The demand for this coffee naturally will fluctuate depending on a variety of factors, including supply, pricing, and consumer preferences.  However, globally the specialty coffee market was worth over USD53.67bn in 2019, with the EU specialty market valued at $16.68 billion (almost one third of the global total) which is also projected to grow by 9.0% annually between 2020-2026 due to rising demand for on-the-go coffee and a strengthening premium coffee shop segment.  

Given the immense opportunity for Jamaica Blue Mountain Coffee in Europe, the Ministry of Foreign Affairs and Foreign Affairs sought to enhance the competitiveness of Jamaican coffee in the EU. The Ministry commissioned the Caribbean Export Development Agency to facilitate an in-depth study on the European coffee market and the scope for increased exports of Jamaican coffee.

“Currently, approximately 10% of Jamaica’s exports of Blue Mountain Coffee goes to Europe. There is indeed significant scope for its expansion given the EU’s large consumer base. According to existing data, Europe accounts for approximately 33% of global coffee consumption, making Europe the largest coffee market in the world, and, accordingly, one with great potential.” shared Ambassador Symone Betton-Nayo.

Taking a practical, market-led approach, the consultant Windward Commodities, met with a cross-section of Jamaican and European coffee stakeholders and engaged in other research activities to determine the trends in the EU market and explore how Jamaica could expand its coffee exports to Europe and compete successfully in the market. 

The study entitled ‘Time to wake-up and ‘cup’ the coffee – Expanding Jamaica Blue Mountain Coffee in the EU’ outlines a number of market-led recommendations and practical steps that can create transparency and collaboration in the Jamaican coffee industry – playing to the strengths of supply chain partners and exploring partnerships in new markets.

Caribbean Export was delighted to collaborate with Ambassador Betton-Neyo and her team to facilitate this crucial review of the Jamaican coffee sector to enhance the competitiveness of its exports.

“We are confident that the recommendations will have a positive impact on ongoing efforts to expand Jamaican coffee exports to the EU.  We commend Caribbean Export for its strong and tangible contribution to efforts aimed at enhancing the Caribbean’s export potential in the European market” concluded Ambassador Betton-Neyo.

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.

Thirty Business Support Organisations (BSOs) and 150 businesses from across the region will participate in a 5-month joint online training initiative to support E-commerce adoption as part of their business strategies and operations. The technical support provided under the Virtual E-Commerce Accelerator Programme (VEAP) started today, Thursday February 2, 2023.

Two Caribbean digital transformation specialists, Gilbert Williams and Leighton Campbell are facilitating the training and coaching. These master trainers met with representative from BSOs in 13 Member States over a period of five weeks to prepare them with core content and strategy that will allow each of the BSOs to work with at least 5 businesses throughout the rest of the programme. The BSOs will work together with the master trainers to guide the businesses to successfully adopt e-commerce leading to increased sales and expanded market reach.

“The VEAP is part of Caribbean Export’s wider digital transformation of business agenda. Key design elements of the programme include building the capacity of BSOs to deliver e-commerce adoption initiatives to their clients during and beyond the project’s life.  I am confident that we have developed a unique and adequate methodology to achieve this outcome.” – stated Phillip Jackson, Programme Lead and Advisor for Innovation and Digital Business.

The VEAP is an 18-month Technical Cooperation (TC) supported by a grant from the French Development Agency through Expertise France, the French international technical cooperation agency and implemented by Caribbean Export Development Agency.

The current training will be followed by a second installment of the programme that will incorporate the lessons learnt from the first iteration. The second phase will target a new cohort of businesses.

For more information or to get involved contact Phillip Jackson at : pjackson[at]carib-export.com

Digital transformation, the green economy and the ease of doing business were the focus of discussion earlier this week, when Caribbean Export’s Executive Director Deodat Maharaj and Services Specialist Allyson Francis met with the Hon. Lennox Andrews, Hon. Andy Williams and senior government officials across several portfolios in Grenada.

During the extensive dialogue, Mr. Maharaj underscored the regional Agency’s commitment to strengthening its partnership with Grenada to drive the Government’s transformational agenda in key sectors.

The Caribbean Export executive team also met with several Business Support Organisations and other partners in the private sector to discuss concrete ways to support private sector investment and business development in 2023.

 To address one of the pressing concerns raised during the meeting, Caribbean Export agreed to provide immediate technical support to the creative sector and capacity-building support to the country’s agro-processing sector.  The proposed programming initiatives will better equip the MSMEs to use market intelligence tools, understand exporting requirements and the fundamental nuances of the export market.

Of the short but productive visit to Grenada, Mr. Maharaj expressed his delight in meeting with the government ministers and other partners to agree on concrete ways to strengthen the Agency’s support to private sector development and advance the country’s transformational agenda.

 With an implementation rate of over 85%, Caribbean Export is pillar-assessed and focused on private sector development aligned to key Sustainable Development Goals. The Agency remains a credible implementing partner ready to help drive Caribbean transformation.

The Dominican Republic and Haiti were jointly present at the important international event Salon du Chocolat 2022 in Paris, France, which took place from October 28 to November 1, 2022. This is the largest event dedicated to the chocolate industry with more than 200 exhibitors from different countries filling the more than 20,000 square meters of Pavilion 5 at Porte de Versailles.

Participating companies from Haiti were AYITIKA SA, cocoa and chocolate producers, and the Federation of Cocoa Cooperatives of the North (FECCANO), a federation of eight cooperatives producing cocoa in northern Haiti. Participating from the Dominican Republic were Chocolala SRL, a cooperative of women cocoa and chocolate producers in Puerto Plata; Grupo CONACADO, one of the country’s largest cocoa producers and processors with more than 33 years of experience; ProAgro, a medium-sized company expanding into international markets with its production of chocolate powder and its La Criollita brand; and Recursos Globales, a family business noted for its CacaoMae brand that produces chocolate and other cocoa-derived products.

These six companies were just a few of the many that make up the Binational Cocoa/Chocolate Value Chain that Caribbean Export launched as part of the actions it implements within the framework of the Trade and Private Sector Support Component of the Binational Cooperation Program between Haiti and the Dominican Republic. This initiative is part of the actions of the expanded strategy that seeks to improve the private-private binational dialogue, as well as to improve the competitiveness of Haitian and Dominican companies with a view to consolidating institutional cooperation between the two countries. The actions of this program are supported technically and financially by the European Union through the 11th European Union Program. European Development Fund. Caribbean Export’s Deputy Chief Executive Officer, Mr. Leo Naut reported that: “The Binational Cocoa/Chocolate Value Chain covers the entire spectrum of the industry, with cocoa producers, cocoa processors and renowned chocolatiers among its beneficiaries. At the Salon du Chocolat, the participating companies received a great reception from the public present, and have also had the opportunity to establish ties with potential business partners in the European Union and other relevant markets”.

ITC and the Caribbean Export Development Agency (CEDA) organized a bootcamp on ‘Access to Green Finance’ on 22-24 November 2022 in Bridgetown, Barbados. The bootcamp included workshops and business matchmaking sessions targeting micro, small, and medium-sized enterprises (MSMEs) from Guyana, Barbados, and Saint Lucia. The workshop aimed to enhance MSMEs’ competitiveness by increasing their knowledge and readiness to access green finance, and resource efficiency and circularity practices with a focus on solar energy adoption.

Access to finance workshop

The first two days of the workshop were led by Access to Finance consultant Mr. Christopher McGann and it included a blend of interactive sessions.

On the first day, participants explored the challenges and opportunities of green/sustainable finance and the relevant UN SDG Goals and Environmental, Social, and Governance (ESG) criteria. They also learned about Credit Risk Abatement Facility (CRAF) facilitated by CARICOM Development Fund (CDF)’s Financial Controller, Mr. Wayne Vitalis. CRAF is a partial credit guarantee facility that provides an incentive for additional lending to MSMEs by financial institutions for renewable energy/energy efficiency initiatives in CARICOM. Lastly, they were introduced to ‘Project Viability and Financing Types’ by Ms. Debbie-Anne Jemmott, Investment Analyst of the Enterprise Growth Fund Ltd.

On the second day, key results of the regional landscape study on access to finance commissioned by the GreenToCompete Hub in the Caribbean was presented, followed by an interactive panel discussion on the risks and opportunities in green financing for MSMEs in the Caribbean with the following expert speakers:

• Barbados Fund Access – Ms. Nadia Wilkie, Project Development Officer
• CIBC First Caribbean International Bank – Mr. Ray Ward, Associate – Investment Banking
• Enterprise Growth Fund – Ms. Debbie-Ann Jemmott, Investment Analyst
• CARICOM Development Fund – Dr. Laverne MacFarlane, Senior Economist

Through this discussion, participants companies were able to gain deeper insight into the available services provided by these institutions and requirements to access funds to implement green projects.

Speed dating and matchmaking

To know more about green financing options, speed dating and matchmaking sessions were organized with financial institutions providing green services and products, such as Barbados Fund Access, Enterprise Growth Fund Limited, CIBC First Caribbean International Bank, Signia Globe Financial Inc, Republic Bank Barbados Limited, CARICOM Development Fund, and the Bloom Cleantech Cluster of Export Barbados. Participant companies and financiers discussed opportunities to get access to finance to implement resource-efficient and circular projects and get sustainability certifications since many of the businesses present have been coached by the Hub on these topics.

Visit to solar PV farm

On the last day of the workshop, company representatives visited a solar farm facility to witness firsthand the application of solar PV installed in a sheep farm and learned about its financial viability and sustainability. The visit provided an insight into the range of possibilities of solar farming. The installer also highlighted the type of crops that can be grown on-site and the alternative livelihood (e.g sheep farming) that can possibly be developed in parallel.

Originally published by ITC. 

GreenToCompete Hub Bootcamp – Connecting small businesses to green financiers and solutions in the Caribbean – GreenToCompete

Please note the offices of Caribbean Export will be closed from Friday December 23, 2022 and will re-open on Tuesday, January 3, 2023. 

Wishing you Happy Holidays and a Prosperous New Year!