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Tradewatch
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The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 8 No. 3 July 2014
Official E-Newsletter of the Caribbean Export Development Agency
VOL. 8 NO. 3 JULY, 2014
engagement would be the catalyst for
potential partnership between territories,
which would enable them to take
advantage of the untapped resources which
these countries represent. Caribbean Export
has conducted studies which reveal that,
because of the political ties and preferential
agreements between the bodies, FCORs and
OCTs import the vast majority of their goods
and services from Europe.
The ultimate aim of the Forum, and
other such initiatives under the RPSDP, is
for CARIFORUM States to become a viable
alternative for FCOR/OCT needs such as raw
materials, tourism, contract manufacturing
in the agro-processing and industrial
sectors, as well as financial and professional
services. This would not only benefit the
CARIFORUM States, but also to alleviate
the significant financial burden, which
such hefty imports would incur. Caribbean
Export and its implementing partners have
set the foundation for these possibilities by
providing the opportunity for enterprises
from across the region to raise awareness
about their products and simultaneously
learn more about the demands and
preferences of the markets which they wish
to enter.
In addition to the networking and
potential for partnership, the Forum also
afforded those present with the opportunity
to examine and evaluate the barriers to
trade, which still exists and the common
developmental challenges that territories are
facing in the establishments of sustainable
trade relations. All parties were able to gain
an understanding of preventative trade issues
being faced and to collectively brainstorm
creative solutions.
To conclude the day’s proceedings,
the firms were given a guided tour of
Cayman Enterprise City (CEC). CEC was
established in 2012 as the Caribbean’s first
special economic zone. The technology and
information-based model is one which was
designed to attract international companies
to the unique advantages of investment in
the Caribbean context. This concept follows
in the blueprint of offshore banking and
franchising which has been extremely
successful particularly in the Cayman Islands.
Caribbean Export Hosts FCOR/OCT Business Forum
As a continuation of its mandate
to facilitate the development of a
trade and commerce relationship
among CARIFORUM States, the
French Caribbean Outermost Regions
(FCORs) and EU Overseas Countries
and Territories (OCTs), the Caribbean
Export
Development
Agency
(Caribbean Export) hosted a Business
Forum for private sector firms from
these territories and other public and
private sector stakeholders.
This mandate has become a focus
within the Agency as it aims to create
a regional brand which encompasses its
many strengths and resources. The forum
was conceptualized and realized in order to
open dialogue between CARIFORUM States
and their neighbours, with whom, despite
their close proximity and the establishment
of the Economic Partnership Agreement
(EPA) in 2008, there has been limited
interaction. The day of meetings took place
in Grand Cayman on June 25, 2014.
The Agency sponsored the participation
of 45 firms in the Forum through the
Regional Private Sector Programme (RPSDP)
funded by the European Union (EU) under
the 10th European Development Fund (EDF).
The companies participated in a series of
business to business (B2B) meetings, which
enabled direct interaction between the
firms and the OCTs present. It was hoped
that this rare opportunity for face-to-face
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EXPORT DEVELOPMENT
Food Safety Preparedness Meeting
and MOU Signing
FOSTERING PARTNERSHIPS
9th CARIFORUM/FCOR/OCT Task
Force Meeting
INVESTMENT PROMOTION
CAIPA participates in UNCTAD Green
FDI Workshop
OPPORTUNITIES
Caribbean Export Opportunities
In this Issue
A section of the audience listens to
presentations during the CARIFORUM/FCOR/
OCT Business Forum
Mr. Johann Moxam, President, Cayman
Islands Chamber of Commerce delivering
remarks during the Business Forum
Business Forum participants reviewing product
samples during the B2B session
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