News

• Caribbean Export turns its attention to Dubai in search of foreign direct investment
• President Ali of Guyana to be the official patron of the Caribbean Investment Forum in Dubai
• The Caribbean Investment Forum in Dubai

The Caribbean Export Development Agency in collaboration with the Caribbean Association of Investment Promotion Agencies (CAIPA) and the European Union are to host the Caribbean Investment Forum (CIF2022) on March 22, 2022, during Expo Dubai in the United Arab Emirates.

To be held under the patronage of His Excellency Dr Mohamed Irfaan Ali President of the Co-operative Republic of Guyana, the CIF2022 is a high-level event that will attract high-net worth individuals and international businesses seeking investment opportunities in, among other sectors, AgTech, Hotel and Resort Development, Renewable Energy, Logistics and Transportation.

“The United Arab Emirates is a non-traditional source of investment for us in the Caribbean but one we can no-longer overlook.  We need new sources of investment for these new times. Our aim for hosting the Caribbean Investment Forum in Dubai is to not only raise the profile of the Caribbean as a premier investment location but to present real investment opportunities to potential investors and financial institutions” shared Deodat Maharaj, Executive Director at Caribbean Export. 

Caribbean countries provide strong foundations for businesses and boast outstanding track records for economic and political stability, openness to international trade and economic integration, making the region one of the lowest perceived risks in the Latin America and Caribbean market.

The Caribbean has great economic potential and diverse growth opportunities in emerging sectors such as high-end agriculture and the digital economy.  A region with a long history as one of the world’s top tourist destinations, there are also a wealth of hotel and resort development opportunities available for the right investor, as we emerge from the COVID-19 pandemic.

• Caribbean Export supports Jamaica’s coffee exporters to expand in EU market.
• The initiative provides market penetration strategy to target new consumers.
• Consultants, Winward Commodities, will provide the analysis and strategy.

A new initiative to help boost Jamaican coffee exports to the European Union (EU) was launched at a high-level event on 27 January which celebrated a longstanding and fruitful partnership between the Caribbean Export Development Agency (Caribbean Export) and the Government of Jamaica.

Caribbean Export will provide consultants to produce a comprehensive analysis of the EU coffee market and develop the market penetration strategy to increase the footprint of the Blue Mountain and Jamaica High Mountain coffee brands in Europe. The initiative is funded by the EU, as a part of ongoing and generous support to businesses in CARIFORUM countries.

“Europe holds strong prospects as a strong and important coffee market, with significant scope for the expansion of exports, due to its large consumer base of approximately 450 million consumers,” said The Honourable Kamina Johnson Smith, Minister for Foreign Affairs and Foreign Trade, speaking at the event.

Minister Johnson commended the ongoing support provided by Caribbean Export, funded by the EU, which she said has in the last four years provided grants amounting to US$1.3 million to 53 local firms. She highlighted the initiative will enable economic growth in the country, vital to rebound from the pandemic.

The EU already accounts for 10% of Jamaica’s total coffee exports. The absence of marketing intelligence and penetration strategies was flagged as an issue and barrier to expansion in Europe by Jamaica’s coffee exporters and their EU counterparts.

“Our goal is to assist in creating an evidence-based strategy for positioning Jamaican coffee in the European market, which, when executed, will connect with new consumers and create a memorable experience, while sharing the story behind the product and strengthening the unique brand identity of Jamaican coffee and Jamaica as a whole,” said Deodat Maharaj, Executive Director of Caribbean Export.

Mr. Maharaj emphasised the importance of leveraging the CARIFORUM-EU Economic Partnership Agreement to expand coffee exports for jobs and growth. At a time of disruption, he said, “there is a silver lining” – the EU’s very attractive coffee market”.

Consultants, Windward Commodities, will conduct an in-depth review of the EU coffee market, including market entry requirements and an analysis of the market penetration strategies of other major coffee suppliers. They will provide recommendations to enhance the competitiveness of Jamaica coffee exporters in the EU market.

The event was attended by The Honourable Kamina Johnson Smith, Minister for Foreign Affairs and Foreign Trade, the Honourable Dr. Norman Dunn, MP Minister of Industry, Investment and Commerce, Her Excellency, Ambassador Symone Betton-Nayo, Norman Grant, President, Jamaica Coffee Exporters Association (JCEA), Deodat Maharaj, Executive Director of Caribbean Export, Jo Spalburg, Caribbean Chamber of Commerce in Europe, and other key partners.

Performing artistes from the Caribbean region are given a new platform to showcase their talent.  This comes with the introduction of the Caribbean Rhythm Showcase (CRS), a virtual outlet through which their work can be seen and appreciated with the hope of taking their careers to the next level. 

This initiative is being developed by the Caribbean Export Development Agency (Caribbean Export), the regional trade and investment promotion agency focused on building a resilient Caribbean by providing cutting-edge and high-impact support to the private sector, with funding from the EU, under the 11^th EDF Regional Private Sector Development programme.

According to Allyson Francis, Services Specialist at Caribbean Export, the wider aim of Caribbean Rhythm Showcase is to build out the creative economies of the region so that they can become greater contributors to the gross domestic product of the individual countries. 

“The execution of this Caribbean Music Showcase is imperative to the development and exposure of our regional artists. As music exports continue to grow internationally year after year, the Caribbean possesses the talent and creativity to capitalise on the digital music space. Caribbean Export supports the need for this digital pivot as it is crucial to innovate with our existing exports and identify alternative avenues in the music industry.”

Francis reiterates that Caribbean Export is committed to providing sustainable development support for regional talent: “In addition to showcasing our regional artistes, the business-to-business meetings with buyers, promoters, production and distribution companies, publishers, major record labels, and music industry executives within the European, United States, Latin American, Asian, and African markets will help our artistes gain business, increase exports, create jobs, and generate foreign exchange. At Caribbean Export we are committed to providing the necessary support, to help build the capacity and showcase our regional music practitioners.”

So how exactly will the Caribbean Rhythm Showcase work?  The organisers made a regional talent call to artistes throughout the region whose genre of choice is soca, reggae, dancehall, Caribbean pop, rap, cadence-lypso and zouk. Approximately 100 responses were received, of which 25 selected to participate in the showcase are required to register on the CRS website and submit a performance video for assessment. The acts selected will be featured in the showcase.

Jamaica’s Headline Entertainment has been selected to execute CRS which will be aired on various platforms come December 20. Jerome Hamilton, managing director of Headline Entertainment is excited at the opportunity to work with new and emerging talent from the region and assist with the development of artistes and economies.  “Headline Entertainment is honoured to be afforded the opportunity to produce this showcase of regional talent by Carib Expo. 

In addition to showcasing the talent we are in turn inviting buyers from different countries to participate. We hope this will lead to a greater level of exposure to the variety of Caribbean music, so they see that there is a wide range of talent out there, not only reggae and soca. We are hoping as well for some possible connections from the very artistes themselves who are part of the showcase so they can find a way to collaborate on different projects. We just hope this augurs well for the future of the artistes, the music of the region and the economies,” said Hamilton.

Caribbean Rhythm Showcase (CRS), is one of several initiatives coordinated by Caribbean Export to support regional creative sectors. 

• 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

Twenty jewellers from Haiti and the Dominican Republic took part in a three-day training course in November 2021 to learn new skills in virtual jewellery design and 3-D modelling. Participants learnt to adapt traditional craft skills to digital platforms and expand creative and production capacity in the sector.   

Twelve people from Haiti and eight from the Dominican Republic attended the training. The participants will hold a binational jewellery exhibition in February 2022 combining traditional techniques with new digital design technologies. Handicraft traditions in the two countries are linked to techniques and production processes of African and Taino origin.

“By supporting this sector, we are betting on micro and small cultural and creative industries and contributing to the revitalisation of the economy that is very relevant in the current conditions in the context of the COVID pandemic,” said Lidia Encarnación, Director of Regional Cooperation of the Ministry of Economy, Planning and Development of the Dominican Republic, in a speech introducing the training. 

The activity was coordinated by the Caribbean Export Development Agency under the Component for Trade and the Private Sector development of the Haiti-Dominican Republic Binational Cooperation Program. It is financed by the European Union under the 11^th European Development Fund. 

Raymond Lafontant, Technical Advisor of the Office of the National Authorizing Officer of European Funds in Haiti, stressed that the two countries have a lot of potential to differentiate themselves from other jewellery producers due to their ancestral techniques and designs, influenced by their great cultural richness and diversity. 

“The trends in the jewellery and costume jewellery sector in world markets are directed towards handmade products with an emphasis on quality, in the details that print differentiation and exclusivity. Introducing digital techniques creates a new market niche in this sector,” said Leo Naut, Deputy Director of Caribbean Export in the Dominican Republic. 

The training was followed by a graduation ceremony. Alán Fernández, Program Officer of the EU Cooperation Section said in a speech at the event that the EU is committed to promoting processes that boost trade and inclusive development in the Dominican Republic and Haiti and throughout the Caribbean.

Martino Vinci, from the Delegation of the European Union in the Republic of Haiti, stressed the importance of the two countries taking advantage of the added values ​​of their artisan markets, as well as increasing the possibility of working together so their economies benefit from these creative industries.

• 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.