Trade Watch V8 No 3 July 2014

INVESTMENT PROMOTION

CINEX Launches in Curacao

The Curacao Investment and Export Development Agency (CINEX) became the most recent addition to the CAIPA members when the Ministry of Economic Development of Curacao launched the Agency on May 12, 2014, at the Curacao Marriott Resort and Emerald Casino. Caribbean Export, as the CAIPA Secretariat, joined a number of other stakeholders in extending congratulations to the Ministry, which has been a member of CAIPA since its genesis. The Honourable Stanley Palm, Minister of Economic Development of Curacao, presided over the event during which the new agency logo and website were unveiled along with the government’s plans to host representative offices in the USA, China, and Holland and bilateral Chambers of Commerce in Brazil, Colombia, and Panama. CAIPA was created in 2007, in an effort to conglomerate the IPAs of the region under one umbrella, thus providing support for these important institutions. The Association now represents IPAs from 19 Caribbean countries. Caribbean Export has worked with CAIPA to facilitate the participation of its members in Caribbean Export programme-based activities, which have been designed to strengthen the agencies’ strategy and capacity to attract FDI to the region. Caribbean Export provides administrative support, financial management, as well as support in the form of technical assistance and advisory services to the member IPAs. In his opening remarks, Minister Stanley Palm expressed his belief that CINEX will play are crucial role in the sustainable development of Curacao through the attraction of FDI. The Ministry has recognized the value of investment promotional agencies to the development of economic sectors, particularly in those sectors which are burgeoning such as green or eco- sustainable initiatives. For Curacao, projects funded by FDI also present the potential opportunity for engagement with the English, Spanish and French-speaking Caribbean and extra-regional countries with which the country, being a Dutch-speaking territory, may not otherwise have explored. Caribbean Export is equally invested in facilitating trade and commercial collaboration between the CARIFORUM States which it represents as the CAIPA Secretariat and the Dutch-speaking Antilles. As part of the EU 10th EDF RPSDP, the Agency is charged with the facilitation of trade and tariff agreements between CARIFORUM and the OCTs. As a result, it is hoped that a regional environment will be cultivated which will enable successful enterprise and private sector growth in all territories. Members of the regional trade and commerce community were present to support the Ministry and its new offshoot. Attendees included representatives from UNCTAD, CAIPA and ProNicaragua. (TW)

From left: Paul Wessendorp, UNCTAD; Emily Ramirez, CAIPA; Vanessa Tore, Ministry of Economic Development of Curacao; Franklin Nicolaas, Ministry of Economic Development of Curcao; Javier Chamorro, ProNicaragua.

Minister Palm of the Ministry of Economic Development of Curacao, welcomes those present at the launch of CINEX.

7 Tradewatch • The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 8 No. 3 July 2014