11TH European Development Fund Implementation Report 2017- 2023

The intervention aimed to achieve several specific objectives. These included fostering stronger relationships between the EU and CARIFORUM private sectors, creating fresh opportunities for trade and business collaboration between the two regions, and improving the overall business environment through dialogue between public and private entities as well as among private sector stakeholders themselves.

According to feedback provided by 48 Caribbean exhibitors and 31 EU buyer attendees, all four of the Business Forum’s main indicators were achieved.

1. To secure business leads

2. Enhance understanding on entry into EU markets,

3. Enhance knowledge on trade opportunities with the Caribbean

4. Overall satisfaction with the Business Forum itself

Up to 138 serious business leads were secured at the Business Forum, with an average of 4 serious business leads made per exhibitor at the event. Most of the leads made were by Caribbean Creative industry exhibitors (44%) followed by that of Food products (20%), then Rum (19%). While 18 Caribbean companies from the Rum (6), Food products & Natural products (5), Food products (4) and Creative industry (3) sectors, indicated that they were able to negotiate potential contracts with EU and other international counterparts. According to participating Caribbean exhibitors, expected long-term impacts of the Business Forum ranged from that of increased exports and profits, to that of new joint ventures with EU and other international firms. The overall majority (94%) of the respondents confirmed that the Forum provided their company “market access opportunities not previously known” and they were able to achieve their expectations and priorities set for their participation in the Forum. (2) Absolutely Caribbean Virtual Expo and Cooking Show In November 2020, Caribbean Export hosted the ‘Absolutely Caribbean Virtual Expo’ as a follow-up to the 4th CARIFORUM EU Business Forum. The event aimed to provide a platform for CARIFORUM producers to showcase their products to the European market. The event which normally would have been in-person was hosted virtually given the onset of the COVID-19 pandemic. The event welcomed 47 CARIFORUM firms from target sectors including:

Alcoholic beverages (8 firms)

Natural cosmetics (10 firms)

Natural products (18 firms)

Sauces & Condiments (11 firms)

Implementation of the 11th European Development Fund (EDF) Regional Private Sector Development Programme (RPSDP)

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