News

The Caribbean Export Development Agency becomes one-stop-shop for sustainability related services for businesses.

The International Trade Centre (ITC) in collaboration with Caribbean Export Development Agency (Caribbean Export) has announced the launch of the Caribbean Trade for Sustainable Development (T4SD) Hub, the latest in its network to help micro, small and medium-sized enterprises (MSMEs) to develop green and viable business models. The Caribbean Hub will be hosted by the Caribbean Export, the regional trade and investment promotion agency mandated to enhance the competitiveness of CARIFORUM MSMEs.

Caribbean Export is joining a global network of T4SD Hubs, which have been established with local institutions in Ghana, Kenya, Laos, Nepal, Peru and Viet Nam to strengthen the competitiveness of MSMEs by implementing green business practices, which help MSMEs to become climate resilient, lower their carbon emissions, recycle waste, get certified with sustainability standards and access green finance and value chains.

Launching the Hub virtually on Friday, 26^th of February, ITC Executive Director Ms. Pamela Coke-Hamilton said: “With the launch of the Caribbean T4SD Hub and the soon to be held UNCTAD 15, the region is positioning itself at the center of the current trade debate, which largely centers around how trade can contribute to an inclusive green recovery and transition. Trade can be a powerful tool to ensure a resilient and net zero emissions future, which leaves no one behind, when we ensure that it is used in the right way. Any stakeholder along an international value chain – whether a consumer, local producer or international brand – can play its role to transform our trading system by demanding sustainable products, by adhering to sustainability standards, and by implementing sustainable business practices.”

By hosting the Caribbean T4SD Hub, Caribbean Export will develop the expertise and skills to offer sustainability related services for MSMEs to build the business case to go green.

In his opening remarks, Caribbean Export Executive Director Deodat Maharaj stressed the partnership was “timely and necessary”.  Further, “for SMEs to enhance their competitiveness requires a concerted effort to protect against the vulnerability to disaster events, improved efficiency of the limited resources available and the identification of ways to rapidly expand production capacity. Moreover, our SMEs must be positioned to maximize the use of existing market access arrangements, by overcoming technical barriers to trade.”

Over the next two years, the Caribbean T4SD Hub will address key topics such as climate resilience, resource efficiency, circularity, sustainability standards and access to green finance and international value chains that are key challenges for Caribbean MSMEs to become and remain competitive.

The hub will deploy a unique programme comprised of blended learning activities, including e-learnings, webinars and customized face-to-face coaching sessions. The learning activities will incorporate ITC’s existing tools and services and provide guidance to MSMEs on ways to integrate sustainable practices into their core business models.

Caribbean Export was selected to host the Caribbean T4SD Hub following a competitive process. The institution will work closely with ITC staff and sustainability experts to implement the various work streams of the technical assistance. MSMEs that will be part of the hub’s coaching programme in the first two years of hub operations will be part of the pilot phase of the programme, which ITC will primarily lead. Following this, Caribbean Export foresees that it will have the necessary capacities to lead the continuation of the hub’s programme and mentor Caribbean MSMEs in establishing sustainability-driven export businesses.

COVID-19 continues to wreak havoc in 2021. BBC has reported that as of 1st of February 2021, more than 100 million people have been infected with the virus, 2.2 million people have died across nearly 200 countries. There are still over 382,000 new cases every day. Although both rich and poor countries have faced the full wrath of the pandemic, the difference is, the developed countries are buffered by their wealth enabling them to recover faster than anyone else.

On the other hand, we in the Caribbean continue to take a battering, much like our shorelines during a hurricane. But, unlike a Hurricane Irma or Maria, which created unprecedented destruction in a matter of hours in 2017, with Covid-19, soon it will be almost one year that this pandemic has been inflicting continuous hardship on the lives and livelihoods of our people.

Caribbean countries have largely managed well from a public health perspective. However, on the economic side, notwithstanding best efforts, the impact has been harsh. Tourism as the mainstay of the region’s economy had seen record tourist arrivals in 2019 of 31.5 million stayover visitors. It is now a mere trickle. Given that tourism accounts for between 34 and 48 percent of total GDP in countries such as The Bahamas, Barbados, and Jamaica , the effect has been massive.

Looking ahead, it is not all doom and gloom. We have a unique opportunity to press the reset button on our development agenda with business becoming a key partner on the path to recovery and resilience. To achieve this, Caribbean countries firstly require a sustained and forensic focus to create the enabling environment for business to flourish. The World Bank’s Ease of Doing Business Report 2020 ranks most Caribbean countries in the bottom half of countries globally. The exceptions are Jamaica and St Lucia which are ranked at 71 and 93 respectively.

Caribbean countries can and must do better. There is no prize for second place in this increasingly competitive world. We must accelerate efforts to improve the ease of doing business, including the establishment of special purpose units with the exclusive responsibility for breaking down of barriers to doing business and fast-tracking implementation of high priority policies. We also need to look at other experiences. Mauritius is a small island faced with similar challenges like the ones we have. Nonetheless, they have consistently improved in their ease of doing business ranking and in the same 2020 World Bank Report was ranked 13 in the world. This is higher than Australia, Canada and Germany. We can certainly learn from Mauritius.

Secondly and closely connected to the ease of doing business is the imperative of attracting foreign direct investment to generate jobs, growth and prosperity. Though Caribbean countries have been making concerted efforts to attract foreign direct investment, the results have been mixed. There are individual success stories including in the natural resource rich countries like Trinidad and Tobago and Guyana as well as in the tourism sector. However, we are not attracting foreign direct investment on the scale required to achieve the creation of much needed jobs and generate inclusive growth.

Like everywhere else, Covid-19 has accentuated the challenge of attracting investment. The Economic Commission for Latin America and the Caribbean had projected a decline in foreign direct investment to Latin America and the Caribbean in 2020 by about 50%. With many economies across the Region in a state of prolonged shutdown, the downward investment trend for 2021 is expected to be even more precipitous.

New strategies and approaches are required to bring investment to our shores. These include proposing projects that are regional, where more than one country can be packaged to an investor. There is strength in numbers. Caribbean Export has already started working to strengthen and improve the Region’s capacities to attract foreign direct investment. It supports the Caribbean Association of Investment Promotion Agencies (CAIPA) to increase collaboration among national investment promotion agencies. Also, Caribbean Export in concert with CAIPA has identified strategic sectors for targeting such as agrotechnology; business process outsourcing; renewable energy; and biotechnology.

Thirdly, we need to ramp up support to micro, small and medium sized businesses. These businesses are the lifeblood of local economies. They need to be innovative, agile and leverage the opportunities provided by digitalization. Going forward, a package of support is required combining know-how, access to finance and innovation.

Caribbean Export provides financial support to firms through its Direct Assistance Grants Scheme and Direct Support Grants Programme with funding from the European Union. These grants assist regional firms to meet the financial challenges brought on by the pandemic, help build their competitiveness and export capacity. Caribbean Export is also providing direct technical assistance to firms. Much more needs to be done.

Finally, regional integration is indispensable. Simply put, as individual states, our populations and markets are too small in this vast global marketplace. Therefore, acting independently or singularly is no longer an option. Working collectively is the only way. Building trade, investment and overall business relationships outside the English-speaking Caribbean is also critical. The work of Caribbean Export in bringing the CARICOM countries and the Dominican Republic together is a good example which must be supported.

In summary, creating an enabling environment for business to flourish, adopting new approaches to attracting foreign direct investment and supporting enterprises at the local level are all vital to fast track Covid-19 recovery. Caribbean Export as the lead agency for private sector development in the Region is committed to this agenda to help create jobs, growth and prosperity for our people.

The Caribbean Export Development Agency (Caribbean Export) is pleased to announce that Mr. Deodat Maharaj has been appointed as its Executive Director effective February 1, 2021.

Mr. Maharaj, a national of Trinidad and Tobago has extensive experience in international trade, working with the private sector, governments, and multi-lateral institutions in a career spanning more than 25 years. He knows the Region well, having lived and worked in Barbados, Guyana, Suriname and Trinidad and Tobago; served with the Caribbean Development Bank; and has consistently championed the development agenda of the Region in his various roles.

He previously served as Deputy Secretary General of the 54-nation Commonwealth where he led its work in economic and social development. He spearheaded the trade and investment agenda for the Commonwealth across its developing country membership in the Caribbean, Pacific, Africa, and Asia. Mr. Maharaj understands the vital role of the private sector as a key driver and partner in development and in Sustainable Development Goals (SDGs) achievement in partnership with government. He also recognises the importance of creating an enabling environment for business to succeed and the imperative of attracting foreign direct investment in regions such as ours.

Mr. Maharaj supported the establishment of the Commonwealth Enterprise and Investment Council and sat on its Advisory Board for three years. Mr. Maharaj also served with the United Nations in senior roles in the field and at headquarters. He has also lived and worked in the United Kingdom, United States of America, Tanzania and Mozambique.

A graduate of the University of the West Indies, Mr. Maharaj’s academic qualifications include a BSc; Government; Postgraduate Diploma, International Relations; MSc., International Affairs; Bachelor of Laws; and Postgraduate Legal Practice Certificate.

Commenting on his appointment, Mr. Maharaj shared: “It is an honour and privilege to lead Caribbean Export and to serve our Region. I look forward to working with all stakeholders to help advance a truly transformational agenda for Caribbean resilience”.

Mr. Maharaj can be reached at: dmaharaj@carib-export.com

The European Union and CARIFORUM have agreed to top-up by 3.68 million euros (US$4.4M) the EU-funded Regional Private Sector Development Programme implemented by the Caribbean Export Development Agency. This brings the overall EU support granted to the programme to 27.68 million euros (US33M).

The European Union and CARIFORUM upgraded the programme given the unprecedented situation the Caribbean region faced this year as a result of the COVID pandemic. Similarly, the duration of the programme was extended by one year, to end in 2022 (2017-2022).

“With these additional funds for the Caribbean Small and Medium Size Enterprises (SMEs), the European Union wants to reaffirm its commitment to stand by the countries of CARIFORUM and the Region in this critical time and the times ahead“ declared Malgorzata WASILEWSKA, Ambassador of the European Union to Barbados, the OECS states, the OECS and CARIFORUM/CARICOM.

The additional funds should be directed to the Direct Assistance Grant (DAGs) scheme, to further assist Caribbean Small and Medium Size Enterprises with mitigating the impact of the coronavirus (COVID-19) pandemic on their activities. The Direct Assistance Grant scheme provides specific non-reimbursable support to companies to strengthen their export capacity and competitiveness. In place for around 20 years now, the Direct Assistance Grant scheme channelled over 12 million euros (US$14.3M) to the benefit of over 600 firms across the region.

Background
For more than 20 years now, the European Union (EU) has partnered with the Caribbean region to support the development of the Caribbean Regional Private Sector. This has been done mainly through the Regional Private Sector Development Programme, with the Caribbean Export Development Agency as the main implementing partner. The major objective has been and remains to fight poverty by contributing to the economic growth and job creation in the Caribbean Region.

To be kept informed of the EU funded activities implemented by the Caribbean Export Development Agency and about when the next call for proposals under the DAGs will be organised, companies should subscribe to the Agency newsletter on the Agency website.

The ‘Absolutely Caribbean Virtual Expo’ was a resounding success for regional businesses looking to break into the lucrative European market.

From 17-18 November, 50 Caribbean companies taking part in the live expo linked up with over 450 European-based registrants with a keen interest in Caribbean sauces and condiments, natural products including food, cosmetics and nutraceuticals, as well as alcoholic beverages.

The ground-breaking event held under the theme, ‘Unlocking the Profit Potential of the Caribbean’, was hosted by the Caribbean Export Development Agency (Caribbean Export) in collaboration with the European Union.

Dr. Damie Sinanan, Manager of Competitiveness and Export Promotion at Caribbean Export, said: “We wanted to create a focused event, recognising that securing buyers time would be difficult given the virtual environment and the current mode of doing business.

“Each participant was allocated a booth and was able to conduct virtual meetings.  The virtual expo enabled those interested to browse and target specific sectors and products of interest, giving a higher success rate for the meetings”.

Lynda Francisque, Head Buyer at Pikyanga in France, described the expo experience as “time saving and interesting”. She added: “The number of participants was meaningful, because each one was very committed to providing the appropriate information.  It definitely saved me more time than going to halls one to ten”.

Over 250 business-to-business meetings took place during the event, with many exhibitors expressing high hopes for follow-ups and penetration in new markets.

Participating exhibitor Indira Weech, founder of BahamaSpa, said the expo was worthwhile. “We’ve made a few solid contacts and had some interesting conversations,” she stated.

Ida Williams of Jamaica’s Tijule Company gave the Absolutely Caribbean Virtual Expo “high marks”.  Despite some technical challenges with video calls, Ms Williams said Tijule was still able to connect with potential buyers offline and engage with them after the event.

The expo’s extensive programme of informative and insightful webinars were also well received. The Caribbean Flava session featuring UK chefs Craig and Shaun McAnuff of ‘Original Flava’ was described as “excellent”.

The ‘It’s Saucy’ webinar explored the sauces and condiments industry and also highlighted the trends and clear opportunities across Europe for Caribbean exporters in various other sectors.

The International Trade Center (ITC) Alliances for Action hosted three discussions. The first one looked at food trends post COVID-19 in the Caribbean. The second focused on Bean to Bar and Bean to Cup and delved into the opportunities and challenges for exporters of chocolate and coffee respectively.

The webinar on ‘All Things Natural’, gave health conscious visitors an opportunity to understand more about the function of indigenous products found in the Caribbean, and how they can be processed and used in the food, cosmetics and nutraceutical industries among others.

The ‘Take a Sip’ webinar featured a global panel who shared the history of Caribbean rum, as well as practical tips on how to position rum and spirit brands in the European market.

Registration and access to the Absolutely Caribbean Virtual Expo and its educational content will be available on demand until December 18, 2020.

The ‘Absolutely Caribbean Virtual Expo’ was a follow-up event to the successful 4th CARIFORUM-EU Business Forum held in Frankfurt, Germany in September 2019.

The expo was produced in collaboration with the European Union as part of the 11^th EDF Regional Private Sector Development Programme. It was also supported by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and the West Indies Rum & Spirits Producers Association (WIRSPA).

Scores of Caribbean music professionals used the downtime caused by COVID-19 to sharpen their musical skills and enhance their business knowledge.

Singers, song writers and music producers from as far north as the Dominican Republic and as far south as Guyana recently took part in a 60-hour Virtual Regional Song Writing and Music Production Training programme organized by the Caribbean Export Development Agency.  The initiative was held in conjunction with the OECS Competitive Business Unit.

According to Allyson Francis, Services Specialist with Caribbean Export, the training was designed to enhance the quality and trajectory of regional music by focusing on song writing, production and the business of music.

“There was also a practical component which involved a collaborative approach to writing and composing content that would find a place in regional and global markets,” she said, noting that trainers also paid attention to the construction of melodies, phrasing, hooks and themes.

Singers, songwriters and producers were placed in groups, a move which created fertile ground for skills sharing as well as intercultural and cross-genre collaboration. By the end of the 20-day period, a strong cadre of new songs were released.

“You have done excellent work here.  What I really liked was the collaboration that took place between the different countries. I really think it means we are going in the right direction. The Caribbean is so rich and what you all have done in a short space of time is exceptional,” Ms. Francis told participants.

Encouraging them to continue working together, she also told practitioners to ensure that they knew how to monetize their work and that they understood the rudiments of the music business.

“Beyond production is distribution. We have to start to talk about the platforms and begin to utilize them to distribute the music. At the end of the day it’s about money. It’s no longer just about a like and a love, it is a business, the business of music and the business of what we do. As a team, understanding which aspect of the value-chain you best fit.

“COVID-19 has exposed the fragility of the music industry and reinforced that practitioners must find ways to promote, sell and showcase their work beyond live performances and carnivals.  From a Caribbean Export standpoint, I’m very pleased to be part of this but we can only do so much as a development agency. I want you to continue to do your part as we will continue to contribute to making sure you are successful. One way at least will be to ensure you have digital presence” she stated.

Sobers Espirt, Business Development Officer with the OECS Competitive Business Unit, also called for increased collaboration. He pointed out that the collaborative approach had been successfully used by big-named artists for years and suggested participants should consider this strategic approach.

“The interaction during the programme has been excellent and I’m even more excited about the outcome. We are hoping it will spur greater collaboration because internationally the success of the music industry is through joint efforts. What we witnessed in this programme were people, who represented all the islands of the Caribbean, coming together for this venture; it was tremendous. 

“The Caribbean needs that at this difficult time in our history. Caribbean Export has played their part in terms of bringing the resources required to get all the artists,  trainers, mentors and producers together, but the part that you must play has to be to thicken the collaboration, to seek out support from each other and to see how we can work to produce different grids of music for Caribbean listeners, and for global listeners who are looking to buy and consume Caribbean music, because that is the goal,” Mr. Espirt said.

Timeka Marshall, a Guyanese singer/songwriter, is no stranger to collaborations. While she endorsed regional “collabs”, Timeka urged persons to explore joint ventures beyond the Caribbean.

“Collaborating is something that I always love to do because you get a chance to reach into someone else’s fanbase and be expose to a whole new set of people. So it is something I would always encourage. A few years ago I released a song featuring StoneBowy from Ghana. That opened me to a whole new market and Africa is a huge market for reggae and dancehall.  With the explosion of Latin music, Latin artists are collaborating with English artists and the Spanish market is a huge market… The world is one just one huge melting pot of culture, sounds and so on; the more we can mix and the more we can blend, the better for us,” Timeka shared.

As result of the programme, some 23 tracks are being produced to be showcased virtually to buyers and sellers from North America, Europe and Africa and Asia.

Caribbean creators of natural and organic products are being urged to take advantage of the growing trend for natural imports in Europe, following a new report from the Caribbean Export Development Agency (Caribbean Export).

The research was commissioned ahead of the Caribbean Export’s Absolutely Caribbean virtual expo on 17 and 18 November. It shows that increasing interest in natural products especially in the UK, Germany, Spain and the Netherlands, offers opportunities for artisans who incorporate indigenous ingredients.

“Europe’s love for natural plant-based ingredients, combined with the region’s efforts to promote sustainability, is fuelling the demand for natural products in different industries such as the cosmetics market”, states Dr. Damie Sinanan, Manager for Competitiveness and Export Promotion at Caribbean Export.

He adds: “The FMI reports that the natural cosmetics market is projected to grow at 4.9% volume CAGR through 2027. The opportunity here is great and we are excited to have some fantastic health & beauty producers at our expo this year.”

In the UK, the personal care market, including skincare, bath & shower and hair products, is worth £6.34bn. Certified organic and natural beauty products are worth £86.5m and growing 14% year-on-year. The ‘natural’ element is also important to Spanish consumers, and so is quality, as figures show eight million shoppers purchased a luxury beauty brand in the 12 months to April 2019 – representing one fifth of all Spanish beauty spend.
German beauty consumers tend to be more traditional in their choice of product, but natural products are demonstrating faster growth, suggesting these types of items are becoming more popular, especially in terms of facial care and hand & nail care. In the Netherlands, the health & beauty category is worth €2.4bn, growing by 1.5% in 2019.

Caribbean Export’s Absolutely Caribbean – unlocking the profit potential of the Caribbean event will provide exposure for the region’s diverse artisanal producers who are using only natural and / or organic ingredients.
The expo will support trade between the Caribbean and Europe by offering participants training, marketing and networking opportunities.

For more information about the event and to register, please visit –http://expo.absolutelycaribbean.com/about.html

• More than half (51%) of the Top 10 Rum Brands sold in the UK are produced in the Caribbean
• In Spain, the rum category is worth €42.3m
• In the Netherlands, rum forms just over a tenth (10.2%) of the Dutch Spirits market.

The Caribbean Export Development Agency (Caribbean Export) has found an increase in popularity of rums in the UK, Germany, Spain and the Netherlands over the past few years. In the new report commissioned ahead of their Absolutely Caribbean virtual expo on 17th and 18th November, Caribbean rums have been identified as having significant potential across Europe.

“We are seeing great opportunity for Caribbean rum across Europe at the moment and we are really excited to have some fantastic producers at our event this year which helps to support international trade between the Caribbean and Europe,” comments Dr. Damie Sinanan, Manager for Competitiveness and Export Promotion at Caribbean Export.

“Consumers are becoming more aware of the unparalleled diversity of styles and flavours of Caribbean rum, and they love what it has to offer. This is why rum is the fastest growing spirit in the European market. We are excited to see where the future of rum will take us,” comments Benjamin Boothe & Kristoffer von Stedingk, Rum Spirits Academy Europe.

Total rum sales in the UK were worth £1bn last year and Caribbean rum plays an important part within that. In fact, more than half (51%) of the Top 10 Rum Brands sold in the UK are produced in the Caribbean. In Spain, the category is worth €42.3m.

In Germany, Rum, Arrak and Tafia form 10.9% of the spirits’ market. Cocktails in particular seem to be driving growth in the market as their popularity increases. Almost half of German consumers (47%) say that cocktails are their preferred style of serving when it comes to drinking spirits. In the Netherlands, rum forms just over a tenth (10.2%) of the Dutch Spirits market.

To showcase the array of Caribbean producers, and to support trade between the Caribbean and Europe, the Agency has launched their first virtual expo event: Absolutely Caribbean – unlocking the profit potential of the Caribbean on 17th and 18th November.

The event is supported by the West Indies Rum & Spirit Producer’s Association (WIRSPA), who represent distillers’ associations from across the ACP Caribbean and will be hosting a rum seminar in collaboration with the Rum and Spirits Academy of Europe.

For more information about the event and to register, please visit –http://expo.absolutelycaribbean.com/about.html