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Los artistas de la región del Caribe reciben una nueva plataforma para mostrar su talento. Esto viene con la presentación de Caribbean Rhythm Showcase (CRS), un medio virtual a través del cual se puede ver y apreciar su trabajo con la esperanza de llevar sus carreras al siguiente nivel.

Esta iniciativa está siendo desarrollada por la Agencia de Desarrollo de Exportaciones del Caribe (Caribbean Export), la agencia regional de promoción del comercio y la inversión enfocada en construir un Caribe resiliente brindando apoyo de vanguardia y de alto impacto al sector privado, con financiamiento de la UE, en el marco del programa de desarrollo del sector privado regional del ^11.º FED.

Según Allyson Francis, especialista en servicios de Caribbean Export, el objetivo más amplio de Caribbean Rhythm Showcase es desarrollar las economías creativas de la región para que puedan convertirse en mayores contribuyentes al producto interno bruto de los países individuales.

“La realización de esta Muestra de Música del Caribe es imprescindible para el desarrollo y la exposición de nuestros artistas regionales. A medida que las exportaciones de música continúan creciendo internacionalmente año tras año, el Caribe posee el talento y la creatividad para capitalizar el espacio de la música digital. Caribbean Export respalda la necesidad de este pivote digital, ya que es crucial innovar con nuestras exportaciones existentes e identificar vías alternativas en la industria de la música”.

Francis reitera que Caribbean Export se compromete a brindar apoyo de desarrollo sostenible para el talento regional: “Además de exhibir a nuestros artistas regionales, las reuniones de empresa a empresa con compradores, promotores, compañías de producción y distribución, editores, sellos discográficos importantes y Los ejecutivos de la industria de la música en los mercados de Europa, Estados Unidos, América Latina, Asia y África ayudarán a nuestros artistas a ganar negocios, aumentar las exportaciones, crear empleos y generar divisas. En Caribbean Export estamos comprometidos a brindar el apoyo necesario para ayudar a desarrollar la capacidad y mostrar a nuestros practicantes de música regional”.

Entonces, ¿cómo funcionará exactamente Caribbean Rhythm Showcase? Los organizadores hicieron un llamado de talento regional a artistas de toda la región cuyo género de elección es soca, reggae, dancehall, pop caribeño, rap, cadence-lypso y zouk. Se recibieron aproximadamente 100 respuestas, de las cuales 25 seleccionadas para participar en la exhibición deben registrarse en el sitio web de CRS y enviar un video de desempeño para su evaluación. Los actos seleccionados se presentarán en el escaparate.

Headline Entertainment de Jamaica ha sido seleccionado para ejecutar CRS, que se transmitirá en varias plataformas el 20 de diciembre. Jerome Hamilton, director gerente de Headline Entertainment, está entusiasmado con la oportunidad de trabajar con talentos nuevos y emergentes de la región y ayudar con el desarrollo de artistas y economías. “Headline Entertainment tiene el honor de tener la oportunidad de producir esta muestra de talento regional de Carib Expo.

Además de mostrar el talento, estamos invitando a compradores de diferentes países a participar. Esperamos que esto lleve a un mayor nivel de exposición a la variedad de la música caribeña, para que vean que existe una amplia gama de talentos, no solo reggae y soca. También esperamos algunas posibles conexiones de los propios artistas que forman parte del escaparate para que puedan encontrar una manera de colaborar en diferentes proyectos. Solo esperamos que esto sea un buen augurio para el futuro de los artistas, la música de la región y las economías”, dijo Hamilton.

Caribbean Rhythm Showcase (CRS), es una de varias iniciativas coordinadas por Caribbean Export para apoyar a los sectores creativos regionales.

• 20 jewellers from Haiti and Dominican Republic complete digital design workshop to enhance production capacity
• Participants will hold a binational jewellery exhibition in February 2022
• Training coordinated by Caribbean Export and supported by the European Development Fund

Veinte joyeros de Haití y la República Dominicana participaron en un curso de capacitación de tres días en noviembre de 2021 para aprender nuevas habilidades en diseño de joyas virtuales y modelado en 3D. Los participantes aprendieron a adaptar las habilidades artesanales tradicionales a las plataformas digitales y ampliar la capacidad creativa y productiva del sector.

Doce personas de Haití y ocho de República Dominicana asistieron a la capacitación. Los participantes realizarán una exposición binacional de joyería en febrero de 2022 combinando técnicas tradicionales con nuevas tecnologías de diseño digital. Las tradiciones artesanales de los dos países están ligadas a técnicas y procesos productivos de origen africano y taíno.

“Al apoyar a este sector, estamos apostando por las micro y pequeñas industrias culturales y creativas y contribuyendo a la dinamización de la economía que es muy relevante en las condiciones actuales en el contexto de la pandemia del COVID”, dijo Lidia Encarnación, Directora de Cooperación Regional. del Ministerio de Economía, Planificación y Desarrollo de la República Dominicana, en un discurso de presentación de la capacitación.

La actividad fue coordinada por la Agencia de Desarrollo de las Exportaciones del Caribe en el marco del Componente de Comercio y Desarrollo del Sector Privado del Programa de Cooperación Binacional Haití-República Dominicana. Está financiado por la Unión Europea en el marco del 11º ^Fondo Europeo de Desarrollo.

Raymond Lafontant, Asesor Técnico de la Oficina del Ordenador Nacional de Fondos Europeos en Haití, destacó que los dos países tienen mucho potencial para diferenciarse de otros productores de joyería por sus técnicas y diseños ancestrales, influenciados por su gran riqueza cultural. y diversidad.

“Las tendencias del sector de la joyería y bisutería en los mercados mundiales se dirigen hacia productos hechos a mano con énfasis en la calidad, en los detalles que imprimen diferenciación y exclusividad. La introducción de técnicas digitales crea un nuevo nicho de mercado en este sector”, dijo Leo Naut, Director Adjunto de Caribbean Export en República Dominicana.

El entrenamiento fue seguido por una ceremonia de graduación. Alán Fernández, Oficial de Programas de la Sección de Cooperación de la UE, dijo en un discurso en el evento que la UE está comprometida con promover procesos que impulsen el comercio y el desarrollo inclusivo en República Dominicana y Haití y en todo el Caribe.

Martino Vinci, de la Delegación de la Unión Europea en la República de Haití, destacó la importancia de que los dos países aprovechen los valores agregados de sus mercados artesanales, así como incrementar la posibilidad de trabajar juntos para sus economías se benefician de estas industrias creativas.

• Nearly USD 1 Million in technical assistance grants awarded to businesses
• 61 MSMEs in 14 Caribbean countries received grant funding
• Businesses headed by women and the youth accounted for 42% of grantees

Grants totalling nearly USD 1 million have been awarded to 61 small businesses in CARIFORUM member states to provide a bridge post-pandemic and increase exports in domestic and international markets. The Technical Assistance Programme (TAP) grant facility was implemented by the Caribbean Export Development Agency and jointly funded by the Caribbean Development Bank (CDB) and the European Union.

The TAP was set up after a survey exploring the impact of Covid-19 on businesses in the region found an overwhelming need for flexible funding over different time periods. The survey was carried out by Caribbean Export and the CDB.

“We listened and responded swiftly to MSMEs during the pandemic by providing a significant boost to drive growth and innovation in major and emerging sectors. The programme will continue to invest in our businesses in the region to help generate jobs and opportunity for our people,” said Deodat Maharaj, Executive Director of Caribbean Export.

Businesses could apply for one-off grants of up to USD 15,000. They were encouraged to take part through online information sessions. Eligibility was based on simple criteria: a minimum of two years trading in a CARIFORUM member state. The facility provided support for a range of business activities, including business digitalisation, marketing, certification, protection of intellectual property rights and resource efficiency and renewable energy.

“The European Union, for many years, has supported the development Micro, Small and Medium Enterprises in the Caribbean through the Caribbean Export Development Agency. The Technical Assistance Programme Grant Facility was deployed to assist companies in recovering from the COVID pandemic and therefore I look forward to seeing the impact it has had”, declared EU Ambassador Malgorzata Wasilewska.

Out of the 61 grants already awarded, businesses from all CARIFORUM member states have benefited. Manufacturing and agriculture and agro-processing emerged as the largest sectors, accounting for 42% of the total grants, followed by professional services (15%). Younger business owners aged between 18 and 35 accounted for at least 16% of the grantees. Among businesses awarded, 26% were headed by women.

“For many regional entrepreneurs, navigating such an unprecedented pandemic, and feeling the weight of responsibility – not just for the survival of their enterprises but for their livelihoods, health and wellbeing of staff, customers, and suppliers has required a Herculean effort,” emphasised CDB’s Director, Projects Department, Daniel Best. He added:

“CDB is therefore extremely pleased to have assisted in improving the resilience of these 61 MSMEs by providing much needed financing to help them realise improved production efficiencies, product quality, management of financial resources, and to obtain enhanced business support services, all of which are critical to enhance their competitiveness.”

The TAP programme will provide a suite of online training to build the capacity of MSMEs in the Caribbean. Firms can learn more about the programme and register their interest in participating here: Technical Assistance Programme

• CARIFORUM-UK Economic Partnership Agreement (EPA), which came into effect on 1 January 2021, is about mutually beneficial trade.
• The EPA will promote deeper trade and investment linkages with the UK and integration into global value chains.
• There is significant opportunity for services exports into UK markets.

The new economic partnership agreement (EPA) between the CARIFORUM Caribbean and UK was welcomed as the basis for a revitalised modern partnership”, and “an enabler” and “platform” for expanding trade and investment for all parties at a summit on Wednesday 24 November, 2021 , attracting more than 500 participants.

The hybrid event saw high-level Government representatives, trade promotion experts and businesses discuss opportunities under the partnership for economic growth both sides of the Atlantic. Services exports, renewable energy and private investment for green transition were some of the topics explored by participants. Speakers noted support at the firm level will give life and purpose to the Agreement, and full ratification would bring greater confidence to businesses.

Opening the event, Deodat Maharaj, Executive Director of Caribbean Export Development Agency said: “The EPA has the potential to make a big difference to our economies, but we need to see concrete, practical results at the firm level.” Referencing the climate negotiations, COP26, Mr Maharaj emphasised the importance of the transition to a green economy, which he said would generate around 400,000 jobs in the region.

Noting the dual challenge of climate change and the pandemic, Jonathan Knott, Her Majesty’s Trade Commissioner for Latin America and the Caribbean, stressed a “step change” in the way both governments and businesses engage. He said the UK is fully committed to implementing the agreement, which will bring down trade barriers and “open new doors” for both British and Caribbean businesses. Mr Knott urged companies to come forward with ideas and requests to make the agreement work for them.

Business had a strong voice at the event, raising questions about honing competitive advantage and the different support measures to be provided under the EPA, particularly for small and medium-sized enterprises. Dan Hart, UK Regional Trade Adviser for the Caribbean said that more needed to be done to translate the agreement into practical policy actions. Awareness was relatively low, he noted, particularly among small businesses, and to address this, the UK Government offers online tools to make trade easier under the EPA, and improves trade and market intelligence for Caribbean SMEs through the UK Trade Partnerships programme.

“For us, our role in the global system is facing a test, but the global system itself is facing a test,” said Marsha Caddle, Minister in the Barbados Ministry of Economic Affairs and Investment. She praised references in the agreement to climate investment and said that small island developing states (SIDs) must have more of a say in financial mechanisms to respond to the scale and urgency of challenges facing the climate vulnerable region, which is also disproportionately affected by the pandemic. “The region must work together and with the UK to build a marketplace for growth and resilience funds,” she said.

Presenting an in-depth study of the EPA, Dr Keisha-Ann Thompson said the agreement presented a significant opportunity at a critical juncture for trade and investment in the region, particularly for services export. Dr Thompson said it can support the development of regional value chains and integration into global value chains, important as some CARIFORUM countries had become less integrated in the global economy between 2008 and 2020.

A high-level virtual summit taking place on 24 November will help Caribbean and UK businesses capitalise on trade and investment opportunities under the recent Economic Partnership Agreement (EPA) between the UK and 14 Caribbean countries in the Caribbean Forum (CARIFORUM).

The Caribbean Export Development Agency (Caribbean Export) in partnership with the UK Department of International Trade will host the virtual summit, bringing together businesses, investors and trade promotion experts to explore doing business under the CARIFORUM-UK EPA. There will be presentations from the Prime Minister of Barbados, the Honourable Mia Amor Mottley, UK Minister for International Trade, Ranil Jayawardena and Her Majesty’s Trade Commissioner for Latin America and the Caribbean, Jonathan Knott.

“This event marks the beginning of a new chapter in the trade and investment relationship between the Caribbean and the UK. The agreement offers huge opportunities for businesses on both sides of the Atlantic and will help create jobs,” said Deodat Maharaj, Executive Director of Caribbean Export.

“The Caribbean Export Development Agency, as the lead regional institution for promoting Caribbean trade globally and steering investments, is pleased to support this initiative and excited with the high interest shown by the private sector across our region. We are committed to building on this foundation,” he continued.

The CARIFORUM-UK EPA, which came into effect on 1 January 2021, secures continuity for trade and preservation of market access between CARIFORUM and the UK, providing predictability and vital assurance to businesses, consumers and investors. With a bilateral trading relationship of GBP £2.9 billion in 2020, the new EPA provides a platform to deepen and forge even closer trade ties between UK and Caribbean businesses.

Her Majesty’s Trade Commissioner for Latin America and the Caribbean, Jonathan Knott said: “This summit is yet another key milestone in our implementation of the EPA, as the UK strengthens our trade and investment relationship with our Caribbean partners. We want to make this a living trade agreement for exporters and investors, increasing business-to-business connections, and setting the stage for a modern and prosperous trading relationship with the Caribbean region.”

“The UK looks forward to continue working with our Caribbean partners. We may be separated by thousands of miles, but we are united in our shared trade aspirations, values and friendship,” he added.

The Summit follows the inaugural meeting of the CARIFORUM-UK EPA’s Ministerial Joint Council, scheduled for 22 November. Senior officials from the UK and all CARIFORUM States held a successful first meeting of the EPA’s Trade and Development Committee in October.

Caribbean Export will present key findings of a recent study on CARIFORUM-UK trade trends and opportunities. The CARIFORUM Directorate and the UK Department for International Trade will provide an update on the implementation of the EPA for trade-related growth and development. Caribbean and UK business leaders will discuss trading goods and services under the EPA in key sectors.

The Caribbean Export Development Agency (Caribbean Export) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH have signed a Memorandum of Understanding (MOU) which focuses on the sustainable implementation of the CARIFORUM-EU Economic Partnership Agreement (EPA). The two organisations will work together to enhance the capacities of Caribbean businesses and their ability to leverage the provision available to them under the EPA.

“The CARIFORUM-EU EPA is a critical trade agreement for our regional exporters. Cooperating with partners such as GIZ supports our ability to really leverage its benefits so our exporters can grow and create much needed jobs for the prosperity of our people” shared Deodat Maharaj, Executive Director at Caribbean Export. Caribbean Export has recently released a strategy to support the transformation of the Caribbean which places the enhanced development of the private sector firmly at it’s centre.

The GIZ project entitled ‘Supporting Sustainability Aspects in the Implementation of EU Economic Partnership Agreements through Critical Observation of their Execution’ continues to support Caribbean businesses uncover new opportunities in global export markets. “GIZ continues to value the partnership with the Caribbean Export and the diligent efforts made by both agencies towards building bridges for CARIFORUM and European businesses to meet, invest and do business in these challenging times” expressed Verena Blickwede, Regional Director at GIZ.

The two organisations have held a productive relationship over the years and collaborated on a number of initiatives including the 4th CARIFORUM-EU Business Forum and the Absolutely Caribbean Virtual Expo most recently. Their continued collaboration will include the monitoring and evaluation of the EPA; supporting investment promotions and the enhancement of the export capacity of the services sector. Plans are already in development for training programmes for national standards bureaus and businesses on packaging and labelling; export missions to international trade shows and technical assistance grants.

Speaking at the first virtual investment forum taking place this week in Trinidad and Tobago, Deodat Maharaj, Executive Director of the Caribbean Export Development Agency ( Caribbean Export), described the event as a “pioneering approach to investment promotion”.

Referencing the COP26 negotiations, Mr Maharaj emphasised the need for the transition to a green economy, using Port of Spain as a “beachhead” for the Caribbean and further afield to increase foreign direct investment (FDI).

The two-day forum saw more than 900 registrants, representing businesses, investors and site selection experts from 67 countries explore investment opportunities in the Twin Republic, critical to economic recovery following the pandemic.

Hosted by InvesTT, the country´s investment promotion agency, and the Ministry of Trade and Industry, the event was supported by Caribbean Export. It showcased the country’s competitive advantages in key sectors, including creative industries, business services, manufacturing, renewable energy logistics and agrotechnology. Panellists representing existing investors in Trinidad and Tobago from different industries provided key insights alongside investment facilitation experts and officials.

In the opening remarks, Senator the Honourable Paula Gopee-Scoon, Trinidad and Tobago’s Minister of Trade and Industry, pointed to a new cycle of investment emerging in the post-pandemic period, precipitated by positive disruptive forces like digital transformation and renewable energy. “Reliable supply chains and access to export markets cannot be taken for granted and must be actively created and sustained. By refocusing on emerging sectors, we are now ready to compete on a global scale,” said the Minster.

Franka Costelloe, Chairperson of InvesTT, spoke about significant improvements in the domestic business environment with the use of new technologies to speed up processes such as licensing, business registration and payment of taxes.

“Following the pandemic, 2021 has been our biggest success story to date, achieving TTD 265 million in investment against a target of TTD 135 million,” said Ms Costelloe, referring to the success in attracting FDI by invesTT. “Trinidad and Tobago is attractive and competitive for the savvy investor,” she added, noting the country’s geographic advantage, linkages to global markets and access to a population of over 690 million in the Latin American and Caribbean region.

From an investor perspective, Ashley Parasram, Founder of Trinidad and Tobago Fine Cocoa, a company that seeks to reinvigorate the country’s traditional cocoa production market, emphasised the advantages of building in-country partnerships as a “springboard” for regional and international markets.

For further information about the forum, please email info@investt.co.tt

La Agencia de Desarrollo de Exportaciones del Caribe ha designado al Sr. Leo Naut como Director Ejecutivo Adjunto con base en la Oficina Subregional (SRO) de Santo Domingo. El Sr. Naut asumirá el cargo a partir del 1 de noviembre de 2021 liderando la ejecución del Programa Binacional República Dominicana – Haití y la implementación del Programa Regional de Desarrollo del Sector Privado del 11 ° FED (Fondo Europeo de Desarrollo)

“Tenemos la oportunidad de catapultar aún más los productos y servicios del Caribe como parte de la recuperación global del año pasado. Habiendo sido parte de Caribbean Export antes, estoy emocionado de trabajar una vez más junto a nuestros accionistas en toda la región para empoderar a las empresas para que crezcan y prosperen a nivel nacional y en el extranjero”, expresó el Sr. Naut.

El Sr. Naut es un profesional experimentado en las áreas de desarrollo económico y relaciones gubernamentales y se ha especializado en el desarrollo de iniciativas de formulación de políticas relacionadas con la inversión extranjera directa y la competitividad del sector privado.

Ex empleado de Caribbean Export, el Sr. Naut se desempeñó recientemente como Director Adjunto de Promoción de Inversiones de la Oficina de Invest Hong Kong de Nueva York. También ha colaborado anteriormente en la implementación de acuerdos de libre comercio, la negociación de tratados bilaterales de inversión y la habilitación del diálogo internacional público-privado.

“Nos complace darle la bienvenida a Leo nuevamente a Caribbean Export, y estoy seguro de que su liderazgo ayudará a la Agencia a elevarse a nuevas alturas de desarrollo del sector privado no solo en República Dominicana y Haití sino en todo el Caribe”, compartió Deodat Maharaj, Director Ejecutivo de Exportación del Caribe. El Sr. Naut es ciudadano de la República Dominicana y tiene una Licenciatura en Relaciones Internacionales de la Universidad de Boston y un Doctorado en Derecho de la Universidad Iberoamericana en Santo Dominigo, República Dominicana.

• €3M to be awarded to CARIFORUM firms via Caribbean Export’s Direct Support Grants Programme
• A minimum of 100 firms to receive grant funding in 15 Caribbean countries
• MSMEs will be able to apply for non-reimbursable grants of up to €30,000

As Caribbean firms continue to grapple with the effects of the COVID- 19 pandemic, the Caribbean Export Development Agency (Caribbean Export), with the continued generous support of the European Union, are once again providing critical assistance by making available the second round of direct support grant funding for micro, medium and small enterprises (MSMEs).

Commencing today, firms in 15 Caribbean countries (CARIFORUM) can apply for a non-reimbursable grant of up to €30,000 from a total available grant facility of €3,000,000. The funds are made available under the Direct Support Grants Programme, and these cash infusions are available to fund special projects that can help speed up growth and fast track recovery from the negative effects of the pandemic

“MSMEs form the backbone of many of our economies generating precious jobs and opportunities for our people. Caribbean Export must continue to focus our efforts on fast-tracking their recovery as businesses seek to diversify and innovate in the face of the ever-evolving pandemic.” remarked the Executive Director, Mr. Deodat Maharaj.

Mr. Maharaj further stated, “Supporting the development of a resilient, competitive private sector will lead to the economic growth and development of our Region consistent with the Sustainable Development Goals, and we are always delighted to have the generous support of the European Union, in these initiatives.”

Firms who have previously never received grant funding from the Agency will be eligible to apply, and the programme will support projects in the following areas:

• Resource Efficiency and Renewable Energy
• Digitalisation of Business
• Marketing & Promotions
• Building Resilience
• Purchase & Upgrade of Capital Goods (capped at a maximum of 50% of budget)
• Certification
• Capacity Building
• Protection of Intellectual Property Rights

In addition, Caribbean Export is encouraging women and youth-owned businesses to apply. Youth is defined as persons under 35 years of age.

Developed in 2020 in response to the COVID-19 pandemic, the Direct Support Grants Programme (DSGP) addressed the need for CARIFORUM firms to access finance when cash flow was significantly restricted.

Under the first round of DSGP funding, sixty-three (63) firms in the CARIFORUM region were awarded grants from sectors, including agro-processing (22), manufacturing (18), tourism (6), creative industries (4), professional services (5), agriculture (3), Information and Communications Technology (ICT) (3), and health and wellness (2).

Caribbean Export will be accepting official applications for the current allocation until December 5, 2021. Firms can visit https://content.carib-export.com/dsgp2021/ for more information about the Direct Support Grants Programme.

Executive Director Deodat Maharaj met with the Minister of Economic Affairs and Leader of the Government in the Senate, The Hon. Michael Halkitis and Parliamentary Secretary Wayde Watson to discuss providing innovative and targeted support to the Bahamian private sector.

All parties agreed that advancing the trade and investment agenda was critical to transforming the business sector in The Bahamas. Mr. Maharaj expressed his delight at meeting with the Minister and his colleagues and reaffirmed the Agency’s commitment to providing the much-needed support to create options and opportunities for the people of The Bahamas.

Caribbean Export agreed to work closely with Bahamian businesses to boost their export capacity. At the same time, high interest was expressed in convening an investment forum for the Bahamas with the support of the Agency. The Minister also welcomed the direct support grants programme for the business sector and made a commitment to use his Ministry’s platforms to promote the call for proposals that will be launched by Caribbean Export on October 22, 2021.

Monday’s meeting was one of several that Mr. Maharaj participated in since travelling to The Bahamas. In the coming week, the Executive Director will engage in robust dialogue as he meets with a range of stakeholders to discuss their challenges and the Agency’s role in delivering concrete and practical solutions to access business opportunities, enhance private sector development and sustainability.

• The Caribbean AgTech Investment Summit attract over 500 potential investors for the Caribbean.
• Almost all CARICOM members import more that 80% of the food they consume.
• CARICOM has established a task force to develop an e-agricultural strategy for the region.

At the Caribbean Export Development Agency’s first Caribbean AgTech Investment Summit (CATIS) the need for investment in high technology agriculture and agro-processing in the region was laid bare by senior officials.  The 3-day virtual event which commenced October 5, 2021, welcomed over 500 registrants from 60 countries around the world.

“There is a need for a paradigm shift in the use of technology within the agricultural sector” stressed the President of Guyana Dr. Irfaan Ali in his feature address.  “Technology transfer is not cheap and for small farmers the high cost can act as a disincentive to the use of technology”.

Acknowledging that small farmers may not be in the position to make the capital investment into drone technologies for example, the adoption of AgTech must be appropriate.

“Agricultural technologies have to be appropriate and affordable.  Appropriate technologies can be adopted to help improve land preparation, cultivation, at a reduced post-harvest loss”.

President Ali shared how ICT had already begun to provide services to farmers through the use of machinery to improve land preparation and harvesting, increase yields and employment of better farming techniques.  President Ali also stressed “the Caribbean has to be abreast with evolving agricultural technologies.  Unless it does so it will find itself losing competitiveness and being left behind”.

The President also shared that “the Caribbean Community is working to bring about technological improvement in agriculture.  It has established a ministerial taskforce to advance the transformation of regional food systems.  The task force is in the process of developing the CARICOM e-agricultural strategy with support from IICA, to improve producers competitiveness, incorporate greater climate smart technologies in the production process, increasing intra-regional trade and improving market infrastructure and connectivity, especially for small producers”.

The CATIS 2021 event was conceptualised to increase investment into the agribusiness sector in the Caribbean.  The event will showcase AgTech success stories and provide information on the business environment in the Caribbean to interested investors.  Further, country presentations highlight the opportunities available in specific countries in the region.

The event is convened by Caribbean Export in collaboration with the European Union (EU) and the Caribbean Association of Investment Promotion Agencies (CAIPA). Other partners include the Caribbean Agribusiness Association (CABA) and COLEACP.

Speaking on behalf of the EU Ambassador to Barbados, the Eastern Caribbean, OECS, CARICOM/CARIFORUM, Luis Maia, Head of Cooperation highlighted that the EU has been a partner for more than 2 decades, providing development support to businesses in the Caribbean. He noted further that agriculture and the agro-processing sector has been a priority sector benefiting from a range of interventions.  The challenge however is the lack of funding available to small businesses.

“In a context where access to funding is a major obstacle in the region, the sector needs investors to come in and support its ambitions and allow it to play a vital societal and economical role.” said Maia.

“Private sector development plays a key role in creating economic growth, employment, and improving living conditions. The Private Sector enables governments in developing countries to generate increased tax revenues, thereby contributing to the funding of wider development strategies, and encourages entrepreneurship and diversification of the economy” he continued.

Caribbean Export’s Executive Director, Deodat Maharaj, noted the motivating factors for the event, being the need to reduce the region´s high food import bill to achieve food security and ensure the best quality and nutritious products for the region´s people given the high levels of non-communicable diseases in the Caribbean.

“The food import bill for CARICOM countries increased to almost US$5 billion in 2018, doubling expenditure which stood at $2.1 billion in 2000. The FAO has indicated that if current trends continued, an increase to $8-10 billion was expected in 2020. These figures represent more than 60% of total food consumption for almost all CARICOM members, with half of these countries importing more than 80% of the food they consume. Simply put… most of our foreign exchange earnings in the region are being spent on food imports.”

He went on to highlight how the COVID-19 pandemic has further compounded the challenges in the region, adversely affecting global food supply chains, leading to scarcity of some food items, and calling for the region to find a way to produce more of the food we eat closer to home.

“Here is an opportunity to invest in the production of healthy food options for the more than 30 million inhabitants of the Caribbean and in recent times close to 30 million tourists who travel to our region yearly.”

Governments in the Caribbean have set an ambitious target to realise a 25% reduction in the region’s food import bill over the next 5 years (until 2025). Attracting partners who will be investing in the use of technological advancements and innovation in agricultural production and agro-processing will help us to ensure that this target is achieved, and sustainable jobs are created in the region.