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• Collaboration to promote renewable energy and energy efficiency across CARIFORUM states.
• Focus on enabling small and medium-sized enterprises (SMEs) to adopt sustainable energy practices.
• Joint efforts in technical assistance, project funding, and knowledge transfer to transform the region’s energy landscape.

At the 29th Conference of the Parties (COP29) on Energy Day, the Caribbean Export Development Agency (Caribbean Export) and the Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE) renewed a Memorandum of Understanding (MOU). The signing followed Caribbean Export’s panel discussion, Building Climate Resilience in the Caribbean Region – A Private Sector Approach, held in the CARICOM Pavilion. Witnessed by key regional partners, it punctuated the pressing need for concrete climate action to advance sustainable energy solutions in the Caribbean.

The agreement focuses on empowering Caribbean businesses to adopt innovative renewable energy and energy efficiency practices. Key areas of collaboration include technical assistance, capacity building, and the joint development of projects aimed at reducing energy consumption and promoting clean, affordable energy technologies.

Dr. Damie Sinanan, Executive Director of Caribbean Export, emphasized the importance of the partnership:
” This collaboration represents a bold step towards empowering Caribbean businesses to lead in the green economy. By leveraging our combined expertise, we are not only advancing energy efficiency but also driving innovation that enhances competitiveness and resilience across the region. Together, we will shape a region where businesses thrive and contribute to a cleaner, more sustainable future for the Caribbean.”

Dr. Mohammad Rafik Nagdee, Executive Director of CCREEE, highlighted the broader implications of the agreement:
” The Caribbean’s transition to renewable energy is not just a necessity but an opportunity for economic growth and resilience. The private sector’s involvement is crucial in driving innovation and investment in sustainable energy solutions. The renewed Memorandum of Understanding signed on Energy Day at COP29 in Azerbaijan, underscores our commitment to fostering public-private partnerships that will accelerate this transition and ensure a sustainable future for our region.”

This MOU signals a united front in tackling climate change and fostering a sustainable energy ecosystem in the Caribbean. Through their collaboration, Caribbean Export and CCREEE aim to unlock funding opportunities, advance regional energy policies, and inspire innovative solutions for a greener future.

The Caribbean Export Development Agency is pleased to announce that Wayne Elliott has been appointed as the Manager of Technical Programmes.

Wayne Elliott is an international development professional with a proven background in project management, economic analysis, and research. He brings extensive experience in managing and implementing multilateral development initiatives, with a career dedicated to advancing sustainable development across the Caribbean. Wayne’s work focuses on derisking innovation, improving the regional business environment, and integrating Caribbean private enterprises into global value chains and sectoral clusters.

Currently serving as the Manager of Technical Programmes at Caribbean Export, Wayne leads a portfolio of initiatives aimed at fostering sustainable economic growth by boosting the competitiveness of businesses in the Caribbean. His expertise extends to guiding and participating in research-driven projects that enhance regional competitiveness, promote private sector development, raise awareness of climate change issues, and strengthen the innovation and entrepreneurial ecosystems in the Caribbean.

Wayne’s analytical skills and strategic approach have positioned him as a key contributor to initiatives that drive innovation, regional competitiveness, and inclusive growth. His commitment to improving lives through collaborative and impactful, human-centered solutions is at the heart of his work.

Wayne, a national of Barbados, is a graduate of the University of the West Indies – Cave Hill with academic qualifications that include a Master of Sciences Degree in Financial and Business Economics- Distinction. His academic background, combined with his extensive professional experience, makes him exceptionally well-suited to lead Caribbean Export´s technical programmes.

Commenting on his appointment, Wayne remarked that he embarks on this journey with purpose, passion, and a commitment to excellence. He shared: “Joining Caribbean Export as the Manager of Technical Programmes is a tremendous privilege. I look forward to leveraging our collective strengths to foster innovation, improve regional competitiveness, promote sustainable growth and deliver human-centered solutions that have a lasting impact.”

Wayne Elliott can be reached at: welliott@carib-export.com

The Caribbean Export Development Agency (Caribbean Export) is set to participate in the 29th Conference of the Parties (COP 29), taking place in Baku, Azerbaijan. As part of its commitment to advancing climate resilience and sustainable development across the Caribbean, Caribbean Export will host a panel discussion on November 15, 2024, focusing on ‘Building Climate Resilience in the Caribbean Region – A Private Sector Approach.’ The event will be held in the CARICOM Pavilion’s Side Event Room from 2:00 to 3:00 pm local time. 

The panel aims to address the unique challenges the Caribbean faces due to climate change, including rising sea levels, increasingly severe weather events, and escalating energy costs, which together threaten the region’s economies, particularly in tourism and agriculture. The discussion will explore innovative strategies and collaborative approaches that Caribbean businesses are employing to build resilience and transition towards a greener economy. 

Dr. Damie Sinanan, Executive Director of Caribbean Export, will join leaders from the Caribbean Development Bank (CDB), Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE) and Kenesjay Green. Together, they will discuss sustainable energy solutions, private sector adaptation strategies, and the mobilization of investments to support climate resilience in the Caribbean. 

Natasha Edwin-Walcott, Senior Advisor for Competitiveness and Export Promotion at Caribbean Export, will moderate the session. Key topics will include enhancing private sector resilience through international partnerships, improving access to climate finance, and attracting green investments. Panelists will also share insights on successful public-private partnerships and the crucial role of SMEs in driving the green transition. 

This panel underscores Caribbean Export’s commitment to fostering sustainable economic growth and climate resilience within the Caribbean private sector. Through ongoing collaboration with regional governments and international stakeholders, Caribbean Export is actively supporting initiatives that promote sustainable development and position the Caribbean as a leader in green economic transformation. 

• Green Business Practices training will take place in St. Kitts and Nevis from November 19-21, 2024
• Businesses will receive training on implementing energy-efficient and sustainable practices
• The training session is part of the Building Resilient Economies series

Businesses across Saint Kitts and Nevis are set to gain valuable insights at the ‘Enhancing MSME Competitiveness with Green Business Practices’ capacity building training, scheduled for November 19 – 21, 2024.

This opportunity, part of the Building Resilient Economies: Empowering CARIFORUM MSMEs through Capacity Building and Green Business Strategies series, developed by the Caribbean Export Development Agency, with support from the European Union, is offered in collaboration with the St. Kitts Investment Promotion Agency and the St. Kitts – Nevis Chamber of Industry and Commerce. It will help firms tackle rising energy costs and boost their competitiveness.

The training will equip companies with the tools and knowledge to implement sustainable, green business practices. By focusing on practical applications, the workshop aims to empower businesses to operate more efficiently, adopt energy-efficient strategies, and leverage renewable energy technologies. This approach will help reduce operational costs and enhance overall competitiveness while contributing to a greener future.

“As the region pivots towards a green economy, it is essential that our private sector remains competitive on the global stage. This capacity building series is a vital step in that direction, providing MSMEs with the resources and technical knowledge to transition to greener, more  sustainable practices,” said Natasha Edwin-Walcott, Manager (Ag) at Caribbean Export.

The series aligns with the region’s strategic priorities of promoting economic and environmental sustainability and is part of a broader effort to foster a more resilient, sustainable, and competitive CARIFORUM private sector by reducing energy dependency, supporting climate resilience, and improving energy security.

The series will be hosted across several member states, with the first activity already successfully executed in Jamaica early October, with positive feedback from participating businesses. The Saint Kitts intervention will continue this momentum, offering customized training modules, practical and hands-on activities, and access to leading experts in renewable energy and energy efficiency.

We encourage firms to register at carib-export.com/events.

• Eco-conscious Caribbean businesses exhibiting at world’s biggest food tradeshow – SIAL.
• ‘Absolutely Caribbean’ booth will highlight food from 26 innovative regional brands.
• SIAL Paris brings together global buyers, distributors, and producers for potential partnerships.

Cutting-edge Caribbean brands with fresh and exciting sustainable products are ready to explore potential new export opportunities at the world’s biggest food tradeshow – SIAL Paris 2024.

Exhibiting at the ‘Absolutely Caribbean’ booth from 19-23 October, with support from the Caribbean Export Development Agency (Caribbean Export) and the European Union, an exclusive group of 26 regional companies will showcase their flair, flavours, and innovation to thousands of SIAL attendees who are looking for the next big trend in the food industry.

Global buyers, distributors, and restaurateurs will interact with individual businesses from Barbados, Haiti, Jamaica, Saint Lucia, and Trinidad & Tobago as well as local Trade Promotion Organisations over the course of five days. All the companies taking part were chosen because their products represent the Caribbean’s unmatched access to local, organic ingredients while also demonstrating a strong commitment to sustainable processes and ethical manufacturing practices.

Trinidad and Tobago’s ‘Handmade by Jeanette’ will be on show at the ‘Absolutely Caribbean’ SIAL stand. This lifestyle company, founded in 2020 by Jeanette Marcelle, makes handmade, organic, and eco-friendly agri-food products using 75% locally sourced ingredients. Jeanette is also dedicated to reducing food waste by utilising imperfect or surplus produce that would typically be discarded.

Small batch coffee and chocolate producer ‘Noble Tree Speciality Coffee and Cocoa’ will also be showcasing its products in Paris. Established in 2017, this Saint Lucian brand sources 100% of its coffee and cocoa from local farmers. Nobel Tree prides itself on prioritising “social responsibility, corporate responsibility, environmental impact, and sustainability” and for every tree harvested, its best seedlings are replanted, to ensure ongoing production with minimal negative effects.

Consumer interest in sustainable food sources is undoubtedly a hot topic. In its 2023 Earth Day Survey , consulting firm Kearney found that “… consumers are considering the environmental impacts of their food choices more than ever”. It added: “Climavorism—defined as actively making food choices based on climate impacts with the intent to benefit the planet—is a growing concept and lifestyle.”

In 2022, Innova’s Lifestyle & Attitude Survey also found 90% of consumers claim to “at least sometimes consider the environment when choosing food” and “over 1 in 4 consumers want environmental considerations to be part of future new product development, with similar importance for flavour and naturalness.”

Natasha Edwin-Walcott, Manager (ag), Competitiveness & Export Development, Caribbean Export, said “Global demand for organic, eco-conscious food products continues to grow, and Caribbean agro-processors are uniquely positioned to meet this demand with authentic, planet-friendly offerings. Caribbean Export is dedicated to fostering innovation and sustainability in the region, and we’re proud to support these exceptional companies as they bring the vibrant flavors and rich culture of the Caribbean to the global stage.”

We invite you to visit the ‘Absolutely Caribbean’ stand at Booth 4 K 083 to interact with these unique regional brands which represent the perfect combination of bold invention and thoughtful innovation.

Caribbean Export Development Agency (Caribbean Export) and DHL, a global leader in logistics, have signed a Memorandum of Understanding (MOU) to formalize a strategic partnership aimed at enhancing the capabilities of micro, small, and medium enterprises (MSMEs) in the Caribbean. The MOU establishes a framework for collaboration between the two organizations in areas such as e-commerce, logistics., and professional development, supporting MSMEs’ growth in the global marketplace.

The MOU underscores Caribbean Export’s commitment to fostering economic growth in the region by enhancing the skills and knowledge of MSMEs. Through this partnership, Caribbean Export and DHL will launch a series of initiatives designed to help MSMEs navigate the complexities of global trade, particularly in logistics and e-commerce.

Dr. Damie Sinanan, Executive Director of Caribbean Export, stated:

“This partnership with DHL is a significant step forward in our efforts to empower Caribbean MSMEs and equip them with the tools and knowledge they need to compete effectively on the global stage. By combining Caribbean Export’s deep understanding of the region’s business landscape with DHL’s international expertise in logistics and e-commerce, we can create transformative opportunities for MSMEs to expand their market reach and thrive in the digital economy.”

“At DHL, we take pride in our partnership with Caribbean Export, as it signifies a notable achievement in our efforts to foster economic growth and create better opportunities for SMEs. This partnership holds great significance in our journey to make a real difference in the lives of businesses in the Caribbean region.” said Mario de Silva, Country Manager of DHL (Barbados) Ltd.

Partnership Objectives

The MOU between Caribbean Export and DHL focuses on several key areas, including:

1. Capacity Building for MSMEs: Through collaborative initiatives, Caribbean Export and DHL will provide training and resources to help MSMEs overcome logistical challenges and leverage e-commerce opportunities.
2. Professional Development for Caribbean Export Staff: DHL will offer technical assistance to enhance the skills of Caribbean Export staff in logistics and e-commerce, enabling the agency to better support the region’s MSMEs.
3. Strengthening Training Modules: DHL will contribute its expertise to update and strengthen Caribbean Export’s ProNET (Productivity Network) training modules, ensuring that MSMEs receive relevant and up-to-date guidance.
4. Ongoing Collaboration: The MOU lays the groundwork for future cooperation between Caribbean Export and DHL, with the flexibility to introduce new initiatives that further support MSMEs in the Caribbean region.

First Activities Announced: Workshops on E-Commerce and Logistics

As part of this collaboration, Caribbean Export and DHL are pleased to announce the first two workshops under the MOU framework. These workshops, based on DHL’s GoTrade program ‘are designed to provide Caribbean MSMEs with practical insights into e-commerce and logistics:

Introduction to E-Commerce:

Date: 30th October 2024

Time: 11am – 1pm (AST)

This workshop will introduce MSMEs to the fundamentals of e-commerce, covering topics such as digital sales strategies, payment gateways, and creating an effective online presence.

The Art of Logistics:

Date: 11th November 2024

Time: 11am – 1pm (AST)

Focused on the critical role logistics plays in global trade, this workshop will guide MSMEs through the essentials of supply chain management, international shipping, and customs processes, ensuring businesses are well-prepared to deliver their products efficiently to global markets.

Both workshops will be facilitated by experts from DHL’s GoTrade program and are designed to provide actionable knowledge that MSMEs can immediately apply to improve their competitiveness and operational efficiency.

Link to the Mou Signing: Watch Now

• ‘Absolutely Caribbean’ pavilion at SIAL Paris 2024 will feature 26 unique Caribbean brands.
• Companies from Barbados, Haiti, Jamaica, St Lucia, and Trinidad & Tobago are taking part.
• Caribbean products on show will include sauces, condiments, chocolate, coffee, and cakes.

Vibrant, original, exotic, and diverse Caribbean flavours are set to command attention at ‘SIAL Paris 2024’ when 26 regional businesses display their one-of-a-kind products at the world’s biggest food tradeshow from 19-23 October.

The carefully curated group of established and emerging Caribbean agro-processors will exhibit their products under the ‘Absolutely Caribbean’ umbrella supplied by the Caribbean Export Development Agency with financial support from the European Union.

“Caribbean Export is thrilled to be supporting 26 Caribbean brands at this year’s installation of SIAL Paris, one of the world’s premiere food expos, with thousands of visitors expected over the five-day period. Following a competitive process, we selected a diverse but quality range of products that we believe highlight the best of the Caribbean. We have worked closely with the brands, and together with European partners, provided a training series on export requirements to ensure firm capacity and expertise to access the European market. The brands will be represented by individual firms, but also Trade Promotion Organisations from across the region, a partnership we are proud of,” said Natasha Edwin-Walcott, Manager (ag), Competitiveness & Export Development, Caribbean Export.

Thousands of industry buyers and media who visit the ‘Absolutely Caribbean’ booth over the course of the show’s five days will get the chance to enjoy a tantalising variety of Caribbean food inspired by, and infused with, fresh, locally-sourced ingredients such as mango, pineapple, passion fruit, and coconut, and made using sustainable and ethical manufacturing practices.

Haitian chocolate producer Choko Lakay is one of the regional businesses set to share its story at SIAL Paris 2024. This company started in 2016 and now helps support over 200 female farmers grow organic, sustainable cacao for a range of premium products such as cocoa butter, cocoa nibs, cocoa tea, chocolate soap and massage oil.

Dark Seamoss from St Lucia will also present its suite of ocean-farmed, organic products at SIAL. Dark Seamoss’s range of healthy drinks and concentrated powders tap into the benefits of sea moss as a fibre-rich prebiotic that boosts good bacteria in the gut and helps to lower cholesterol.

All the ‘Absolutely Caribbean’ specialty food brands at SIAL plan to take full advantage of global interest in Caribbean cuisine which has continued to grow ever since it was identified in 2022 as one of the top food trends by the US National Restaurant Association.

In addition, research on the ‘Top Ten Trends for 2024’ in the global food and beverage market by Innova found that two-thirds of consumers are “open to trying new global cuisines” and these can include “authentic, adventurous foreign dishes, as well as globally-influenced dishes made with local ingredients”. This aptly demonstrates the export potential for Caribbean-based food around the world.

Adventurous customers are continually craving bold, innovative, naturally healthy flavours and Caribbean food ticks every single box, which makes the ‘Absolutely Caribbean’ booth at SIAL a must-visit area where attendees can expect delicious tastings, interesting interactions, and memorable stories.

We invite industry buyers and media to visit the ‘Absolutely Caribbean’ brand at Booth 4 K 083, and look forward to demonstrating exactly what makes Caribbean food truly exceptional.

In a prestigious ceremony, the Export and Investment Center of the Dominican Republic (ProDominicana) awarded Caribbean Export a special recognition for its vital support in executing projects that advance exports and investment in the country. This accolade acknowledges Caribbean Export as a crucial strategic partner in implementing programs that help exporting companies and small and medium-sized enterprises (SMEs) in the Dominican Republic reach international markets.

During the “Alianzas que Suman” (Alliances that Add Up) ceremony, Ms. Romily Thevenin, Communications and Research Officer, accepted the recognition on behalf of Caribbean Export. The award was presented by ProDominicana’s Executive Director, Ms. Biviana Riveiro.

ProDominicana praised Caribbean Export for its “exceptional contributions,” which have been instrumental to the organization’s success. Caribbean Export’s consistent support has been essential in boosting exports and investment in the Dominican Republic through comprehensive programs including capacity building, market intelligence, and technical assistance, enhancing significantly the competitiveness of Dominican businesses. Initiatives in export promotion, investment facilitation, and access to finance have opened new opportunities not only for local products and services but for the entire Caribbean region on the global stage. Additionally, the focus on sustainability, innovation, and sector-specific support, along with strategic partnerships and regional integration efforts, have fostered a robust and dynamic economic environment.

The recognition of Caribbean Export underscores its ongoing commitment and dedication to creating a favorable environment for trade and investment, which is commendable and pivotal for the Dominican Republic’s economic growth.

Other honorees at the event included the Ministry of Economy, Planning, and Development of the Dominican Republic, the Ministry of Foreign Affairs (MIREX), The Santo Domingo Chamber of Commerce and Production, the Dominican Agribusiness Board (JAD), the Development and Export Bank (BANDEX), Banreservas, DP World, INICIA, FERSAN, La Aurora, the Dominican Exporters Association (ADOEXPO), the Association of Foreign Investment Companies (ASIEX), businessman Evaristo Pérez Carrión, and businesswoman Ligia Bonetti.

We extend our heartfelt gratitude to ProDominicana for this recognition and look forward to continuing our collaborative efforts to drive economic growth and prosperity in the Dominican Republic and the entire Caribbean region.

• Partnership Agreement Facilitates Caribbean’s Access to African Market
• MoU Highlights Closer Partnership Between Africa and the Caribbean
• Unleashing New Opportunities for Growth and Collaboration in Africa

The Caribbean Export Development Agency (Caribbean Export) has inked a partnership with the African Export-Import Bank (Afreximbank) through the signing of a Memorandum of Understanding (MoU). This strategic alliance aims to drive collaboration in vital areas such as capacity building, information exchange, trade facilitation, and investment facilitation between Africa and the Caribbean region.

Dr. Damie Sinanan, Executive Director of Caribbean Export, highlighted the significance of this partnership during a joint press conference at the Caribbean Investment Forum. He stressed the Agency’s determination to explore new frontiers for export expansion, specifically focusing on promising markets such as Africa.

The MoU was signed on June 14, 2024, in the Bahamas. It marks a significant achievement following Caribbean Export’s missions to Ghana and Nigeria in 2023. These missions involved a delegation of companies and business support organizations from the Caribbean, uncovering substantial opportunities for enhanced trade and investment between Africa and the Caribbean.

“We found immense opportunities for trade and investment between Africa and the Caribbean,” added Dr. Sinanan. He told the media that Ghanaian firms’ eagerness to collaborate with counterparts in the Caribbean signals the vast potential for mutual growth and prosperity.

He emphasized the value of knowledge transfer from African partners in trade, investment, and technological advancements, thereby underlining the agency’s commitment to fostering enduring relationships and partnerships over the next “three to five years.”

In alignment with this vision, Okechukwu Ihejirika, Acting Chief Operating Officer of the Caribbean Office of Afreximbank, spoke about the bank’s unwavering commitment to standing as a robust partner for the Caribbean region. “There’s much value inherent in us working together as a team. We make ourselves a formidable force when we work together,” Ihejirika said.

Notably, this strategic alliance sets the stage for a concerted push to strengthen trade relations and foster a more resilient bond between Africa and the Caribbean.

The collaboration between Caribbean Export and Afreximbank represents a significant step forward in enhancing Caribbean firms’ capacity to harness the vast opportunities presented by the African market and forge indispensable partnerships critical for driving sustainable trade and investment growth.

• CIF 2024 successfully concludes in Georgetown, Guyana
• 200 business meetings facilitated
• Delegates discover impressive array of private sector projects totaling US$50 million

A clear vision for a transformed Caribbean and a roadmap to achieving it – that’s what attendees of the third edition of the Caribbean Investment Forum (CIF) 2024 came away with when the high level conference drew to a close on Friday, July 12, in Georgetown, Guyana.

Hosted by the Caribbean Export Development Agency (Caribbean Export), at the Arthur Chung Conference Centre, under the theme “Transforming Our Future, Empowering Growth”, the forum brought together over 450 delegates from 40 countries for three days of insightful presentations, strategic networking and intense negotiations.

Delegates explored the abundant investment opportunities and incentives in the Caribbean, particularly in the priority areas of green economy transition, the digitalization of Caribbean business, and sustainable agriculture.

Caribbean Export’s Manager (Ag), Competitiveness & Export Promotion, Natasha Edwin-Walcott, said, “The Caribbean Investment Forum delivered its promise to provide a platform for the public and private sector including investors, entrepreneurs and development partners to network and collaborate on ways to transform the region on the three focus areas. Feedback from attendees and partners have been overwhelmingly positive. The event attracted over 450 delegates and facilitated more than 200 business meetings. The CIF brand is growing and we are excited by the partnerships established and the encouraging discussions held with development partners and other stakeholders.”

During his opening speech, newly appointed Executive Director of Caribbean Export, Dr. Damie Sinanan, spoke of the trail of devastation left in the wake of Hurricane Beryl and how its aftermath further proves the importance of the conference’s priority areas.

“With this one catastrophic event we have to ask ourselves some serious questions. Once again, how do we mitigate and adapt to those climatic impacts? How does this affect our ability to feed our people and how do our Caribbean people exploit opportunities presented by new technologies, innovation and connectivity to continue to do business in times of peril? That is why since 2022 Caribbean Export has championed these core areas and it is no different this year. We believe these areas portend the greatest potential for a transformative and resilient Caribbean region.”

In his wide-ranging keynote address detailing his vision for a transformed Caribbean, President of the Co-operative Republic of Guyana, His Excellency Dr Mohamed Irfaan Ali, told the packed conference hall, “Sometimes we are captured by our own size, size of population and size of market but there is nothing bigger than an idea, than innovation, than driving ideas, that can change the narrative and position us as a region of excellence and that is what we have to do. We have to go after innovation that will position us as a region of excellence, and a region of excellence requires innovative thinking, it requires investing in a knowledge economy, investing in our human resources, building the right and strong partnerships. These are the things that matter.”

Over the two days of high level discussions and presentations, delegates learned about investment and partnership opportunities that are addressing the region’s biggest challenges and promising transformative results.

Conference highlights included the U.S. Agency for International Development (USAID) reaffirming its commitment to the Caribbean and an announcement of US$28 million in funding to the Caribbean, including an extra US$1.45 million to expand the Economic Development Activator programme in Guyana, Suriname and Trinidad and Tobago. The announcement came on day two during the keynote address from USAID’s Deputy Administrator for Policy and Programming, Isobel Coleman, titled ‘Building Resilience Through De-risking: Unleashing Catalytic Capital and Public-Private Collaborations in the Caribbean’.

Representatives from the Inter-American Development Bank (IDB), CAF Development Bank, Regional European Union Delegation from the Caribbean and others, also reaffirmed the commitment of their individual organisations to helping the region develop in the three priority areas. Delegates learned more about the EU’s Global Gateway Strategy, and the IDB’s One Caribbean strategy.

The first day of activities featured, among other things, a keynote fireside chat on Building Tomorrow: Harnessing the Power of Green featuring the Chairman of CAG, The Carlyle Group, Dr. Gerrard Bushell, as well as a CEO Leadership Roundtable titled Caribbean Titans Unite: Fueling Resilience Through Bold Investments featuring Vice President of Citi Environmental & Social Risk Management, Ryshelle McCadney; Managing Director of Farfan & Mendes Ltd, Andrew Mendes; COO – Caribbean Office (Ag.) of African Export-Import Bank, Okechukwu Ihejirika; and Director of Global Business Development of Global Integrated FinTech Solutions, Dave Sahadath.

During the opening of the CIF 2024 Investment Village and Blitz, Advisor for Investment Promotion at the Caribbean Export Development Agency, Tonya Cummins, told attendees, “This initiative underscores our commitment to facilitating meaningful connections and fostering an ecosystem where investment can thrive. It is designed to not only highlight the projects but also to demonstrate the immense potential and readiness of the Caribbean to attract and sustain FDI…. Our goal is to create a robust environment that supports business growth, fosters innovation, and enhances the economic well-being of our member states.”

The Investment Village featured an impressive array of private sector projects ranging from US$500,000 to US$16 million, collectively amounting to a total portfolio value of close to US$50 million. The projects all fell under the sustainable agriculture and digital transformation thematic areas and included Project Kiem based in Suriname, Crazy About Organics Sustainable Farms based in the Dominican Republic, Transforming Caribbean Agriculture through Innovation and Sustainability based in St. Vincent & The Grenadines, HUBU Aquafarm Phase 2/3 Development based in Guyana, Prosperina Agtech based in The Bahamas, HealthApp Solutions based in Guyana, Orbtronics Innovation Hub based in St. Lucia and GUYIMEX International based in Guyana.

Delegates also heard presentations from the Carib Equity and United Nations Capital Development Fund (UNCDF), EU funded projects.

On the final day of conference activities, Grenada’s Minister for Climate Resilience, the Environment and Renewable Energy Ministry for Climate Resilience, the Environment and Renewable Energy, Kerryne James, joined the conference virtually for a ministerial spotlight on Fostering Sustainable Development Through Innovative Investment Strategies in the Caribbean: Opportunities and Challenges.

Later, delegates received a much anticipated update on the Ferry Project from His Excellency Ambassador Dr. Andre Thomas, Chairman & CEO of Pleion Group Inc, Parent Group of Connect Caribe. They also heard country presentations from investment agencies representing the Dominican Republic, Turks & Caicos, Trinidad and Tobago, Barbados, St. Kitts, Grenada, and Dominica, which were also well received.

In her closing remarks, Guyana’s Minister of Tourism, Industry and Commerce, Oneidge Walrond, described CIF 2024 as a resounding success.

“The government of Guyana is fully aware of the importance of this forum for the sustainable development of our Caribbean region. CIF has once again provided a dedicated space for global and regional interactions, many of which we hope to evolve into long-lasting partnerships and business relationships,” she said.

• MOU solidifies the Caribbean Export and Pleion Group Inc. partnership, creating a framework for joint initiatives.
• CIF 2024 MOU signing ceremony emphasizing the significance of collaboration.
• By working together, Caribbean Export and Pleion Group seek to drive economic growth in the Caribbean region.

The Caribbean Export Development Agency (Caribbean Export) and Pleion Group Inc. inked an agreement to enhance regional transportation through the Connect Caribé initiative. This partnership, which centers on the exchange of vital information and expertise, is touted as a significant step towards boosting regional trade and logistics, driving economic growth and development across the Caribbean.

On Friday, June 12, 2024, the two partners signed a Memorandum of Understanding (MOU) at Guyana’s Arthur Chung Conference Centre on the final day of the 2024 Caribbean Investment Forum.
Dr. Damie Sinanan, Executive Director of Caribbean Export, highlighted the shared goals and positive impact of Connect Caribé, the private-sector-led Caribbean ferry project, and its effects on the future of regional commerce. He also expressed the full support of Caribbean Export for such a project led by Pleion Group Inc.

“This is one of the successes that have come out of the Caribbean Investment Forum. It’s not just about meetings, having a full room, or talks. It’s about actions, and this is a prime example,” Dr. Sinanan highlighted.

H.E. Ambassador Andre Thomas, Chairman and CEO of Pleion Global Group Inc., credited the partnership’s birth to participating in a roundtable on transportation and logistics forum at the CIF two years ago.

“Our project equation is about four parts, and all were found at CIF. So, I must say [Pleion Global Group Inc. is] excited to sign this much-needed initiative to move from concept to reality,” Ambassador Thomas explained.

The Pleion Global Group Inc.’s project, ‘Connect Caribe,’ was established to enhance regional trade and logistics within the Caribbean by facilitating the movement of people and cargo.

Initially, the project focused on transporting heavy and light cargo and agricultural produce. Over time, passenger movement was added with ferry routes to several regional destinations. This project will undoubtedly revolutionize transportation, with a ripple effect that, once fully operational, will boost economic growth in the Caribbean region.

• Priority areas identified for partnerships

• Collaborations with businesses will accelerate environmental solutions and innovation

July 11, 2024, Georgetown, Guyana—The third iteration of the Caribbean Export Development Agency’s (Caribbean Export) Caribbean Investment Forum (CIF) has received the support of several significant development partners, who aim to help the forum become a promoter for economic transformation in the Caribbean region. 

This was highlighted during a press conference held on the second day of the CIF, where the partners, the European Union, the U.S. Agency for International Development (USAID), the Inter-American Development Bank (IDB), and the CAF Development Bank, all underscored the importance of strategic partnerships to foster sustainable growth in the region.

Leo Naut, Deputy Executive Director of Caribbean Export, told the conference that by bringing together international development partners, the region can leverage their expertise, resources and networks to drive impactful projects forward.

The EU’s Head of Cooperation at the Regional European Union Delegation for the Caribbean, David Mogollon, said that the Union can use its tools and instruments to catalyze investments in the Caribbean.

Against this backdrop, Mogollon added that the European Union established the Global Gateway Strategy, which tries to leverage public funding to bridge the gap of investment and mobilise private sector capital.

As part of this strategy, he stated that the EU is trying to leverage $45 Billion Euros for the entire Latin American and Caribbean region. Giving a breakdown of how this works, he said that they have jointly identified several priorities with partners, ranging from maritime connectivity to renewable energy and digital transformation to building capacity.

Meanwhile, USAID Regional Representative for the Eastern and Southern Caribbean, Mervyn Farroe said that their goal is to support the creation of a safe, prosperous and resilient Caribbean region.

Mr. Farroe added that USAID’s strength lies in the partnerships with local government, international partners, regional organizations and the private sector.

“The Caribbean Investment Forum is taking place at an opportune time to foster more partnership because the record growth of private capital in the Caribbean and emerging economies around the world has created an unprecedented opportunity for governments and development partners to leverage their resources to enable investors to become the current driver of inclusive economic growth,” he said.

With this, he signalled that there is no better event than the CIF to make connections. As a result, the agency aims to partner with businesses to accelerate global environmental solutions and unlock innovative technology and research.

Furthermore, Lorena Solorzano-Salazar, Representative of the Inter-American Development Bank (IDB), said that in exploring partnerships in the Caribbean the bank has been focused on implementing its institutional strategy and its ‘One Caribbean’ strategy.

The ‘One Caribbean” strategy aims to promote integration and resilience in the region with the support of projects and partnerships.

At this year’s forum, she underscored the importance of partners like the IDB being present, exploring opportunities, and providing resources to the private sector across the region.

Meanwhile, CAF Development Bank Representative Bernardo Requena stated that staging the CIF showcases the Caribbean’s potential as a prime investment destination. “Our collaboration with the Caribbean Export Development Agency has been excellent, and we are committed to continuing this partnership with you,” Requena said.