{"id":267998,"date":"2020-04-17T08:26:19","date_gmt":"2020-04-17T12:26:19","guid":{"rendered":"https:\/\/content.carib-export.com\/news\/talking-exports-how-caribbean-export-will-support-the-regions-private-sector-through-covid-19\/"},"modified":"2022-06-13T20:57:25","modified_gmt":"2022-06-14T00:57:25","slug":"talking-exports-how-caribbean-export-will-support-the-regions-private-sector-through-covid-19","status":"publish","type":"news","link":"https:\/\/content.carib-export.com\/fr\/news\/talking-exports-how-caribbean-export-will-support-the-regions-private-sector-through-covid-19\/","title":{"rendered":"Parlons exportations\u00a0: comment Caribbean Export soutiendra le secteur priv\u00e9 de la r\u00e9gion pendant le COVID-19"},"content":{"rendered":"
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Anthony Bradshaw
Officer in Charge – Caribbean Export <\/em><\/figcaption><\/figure>\n<\/div>\n\n\n

The COVID-19 pandemic will have a significant impact on the private sector and economies globally. The economic slowdown will severely affect MSMEs, as they suffer from the impact of government decreed shutdowns, supply chain disruption and demand contraction. With the containment of the crisis, the recovery phase will commence, and the firms must be ready to take advantage of the turnaround in economic activity but must first deploy business continuity strategies to support their survival. <\/strong><\/p>\n\n\n\n

In our fourth year of implementation of the 11th<\/sup> European\nDevelopment Fund (EDF) Regional Private Sector Development Programme,  Caribbean Export Development Agency\n(Caribbean Export) is forced to re-visit its programme, mode of operation and\nhow it supports the regional private sector in the midst of the crisis. <\/p>\n\n\n\n

Caribbean\nExport, like other organisations across the world, is currently implementing\nsignificant changes to the delivery of existing services through the use of\ntechnology and exploring what additional services are required by its\nstakeholders during and post the current crisis. We recognise that whilst many\nof the challenges at the micro level remain unchanged such as access to finance\nand access to new markets, they will be significantly more acute and new\nchallenges will emerge.   Against this changing\nlandscape we appreciate that the status quo cannot endure.<\/p>\n\n\n\n

Caribbean Export in collaboration with the Delegation of the European Union in Barbados will explore a number of initiatives focusing on SME development in response to the current COVID 19 pandemic and the potential adverse effect this will have on regional firms.\u00c2  In this regard, a strategic approach has been adopted, in collaboration with the Caribbean Development Bank to conducting two surveys targeting SMEs<\/a> and Business Support Organisations to collect basic information from key stakeholders to identify the most relevant and effective interventions in a timely manner.\u00c2  Further, a grant facility along with other capacity building programmes to be executed will form part of a regional approach to support poverty reduction, economic and social resilience within the Caribbean in response to this global crisis. <\/p>\n\n\n\n

Over the next\nfew months Caribbean Export will be providing direct support to firms in\ncollaboration with its strategic partners to ensure companies receive much\nneeded access to finance.  We\u00e2\u20ac\u2122ve had to\nre-think our strategy in order to have a nimbler approach in light of the\nCOVID-19 environment. <\/p>\n\n\n\n

Under this\ndirect support programme, firms will be able to apply for a grant to be used\nfor a range of initiatives based on the stakeholder survey currently being\nconducted. <\/p>\n\n\n\n

In addition to access to finance Caribbean Export provides a range of capacity building initiatives which will now be delivered online via webinars and our online e-learning platform.  The Agency hosted its first webinar on Thursday 16th<\/sup> April on finance and accounting outsourcing<\/a> with more to come on stream. The webinar series titled Talking Exports: A Crisis Management Series<\/a> will include topics such as \u00e2\u20ac\u02dcManaging cash flow in the COVID-19 environment\u00e2\u20ac\u2122 on 21st April, supply chain management on May 5th, communications coming soon. <\/p>\n\n\n\n

The current\ncrisis has resulted in an acceleration of our e-learning focus and the Agency\u00e2\u20ac\u2122s\ntraining workshops will be available on the e-learning platform such as the\nProNET series, Services Go Global, Intellectual Property and Competitive\nIntelligence to name a few.<\/p>\n\n\n\n

Related to our\nincreased focus on technology as a service delivery mechanism we are also\nfurther developing our business to business portal to provide an online space\nwhere Caribbean firms can register to interact with buyers and suppliers. The\nB2B portal allows firms to post their product and service profiles and\nCaribbean Export will market the platform to regional and international buyers.<\/p>\n\n\n\n

The position of\nthe Caribbean in this global environment as the world emerges from this\npandemic will be critical.  Caribbean\nExport as the secretariat for the Caribbean Association of Investment Promotion\nAgencies (CAIPA) will be embarking on an international marketing and promotions\ncampaign to position the region as a viable location for investment post\nCOVID-19.  This will be a vital step in\nbuilding investor confidence and in re-establishing our region as a prime\ndestination for foreign direct investment (FDI).   <\/p>\n\n\n\n

The Caribbean is\nwell positioned in proximity to the United States as a nearshore location for\nbusiness process outsourcing (BPO) firms looking to expand beyond call centers\ninto new growth areas, such as shared services centers, legal process\noutsourcing, human resources outsourcing, and finance and accounting\noutsourcing among others.  <\/p>\n\n\n\n

Outsourcing has\nbeen a key area of focus as we implement the Regional Investment Promotion\nStrategy (RIPS). Given the success and interest attained to date, we continue\nto believe that the region presents a very compelling case for job creation,\nparticularly among our youth and continued FDI in this area.<\/p>\n\n\n\n

In summary,\nCaribbean Export as it re-focusses its efforts, during the coronavirus\n(COVID-19) pandemic, to fulfil the overall objective of the 11th<\/sup> EDF\nRPSDP of increasing employment creation and inclusiveness, particularly for\nyouth, women and indigenous groups, and overall poverty reduction in CARIFORUM\nstates, the Agency is:<\/p>\n\n\n\n