2022 Annual Results Report

EXECUTIVE SUMMARY

to demonstrate that the Caribbean is open for business and investment, acting as a platform for private-to-private sector dialogue and engagement with both regional and extra-regional investors. We also recognise the importance of delivering results, where they matter, on the ground and in the lives of people. In this regard, I am proud of our programme implementation rate of 89% in 2022, one of the highest rates in the Region. Recognizing the importance of partnerships in supporting private sector development, Caribbean Export has worked diligently to foster new partnerships with organisations that share our vision for the region. The Agency has also remained committed to its export promotion strategies delivering several trade and export promotion programmes benefitting over 50 CARIFORUM firms from the manufacturing, agro-processing, rums & spirits and services sectors. Through this focused work, firms were able to showcase and demonstrate their products and services to some of the biggest wholesalers, distributors and content creators in the world including Sainsbury, Marks and Spencer, Netflix and Sony Music Entertainment. These activities have acted as a bridge to international markets, allowing firms to create and foster relationships with global partners. They have also brought high visibility to our Region’s goods and services and assisting them in securing distribution deals and production contracts. Recognizing the importance of partnerships in supporting private sector development, Caribbean Export has worked diligently to foster new partnerships with organisations that share our vision for the region. While the Agency continues to benefit from strong relationships with partners such as the European Union, the Caribbean Development Bank (CDB), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and the International Trade Centre (ITC), we have also forged new partnerships. During 2022, we welcomed three new partners on our mission towards building a GREENer, SMARTer, resilient Caribbean: Expertise France, the Inter-American Development Bank (IDB) and Tecnalia from Spain whilst deepening our partnership with CDB. Caribbean Export is profoundly committed to continued strong governance and transparency with audit reports of the Agency available for public consumption at: www.carib-export.com The 2022 Annual Results Report provides eloquent testimony to the work being done to improve lives and livelihoods across the Region. These results have been achieved by having a robust governance framework and for this I am grateful to the Chairperson and Board of Directors. I am deeply appreciative to the hard-working team at Caribbean Export who made these results possible.

Deodat Maharaj Executive Director Caribbean Export Development Agency

As the Agency for promoting Caribbean trade globally and steering investments to our Region, I am delighted to present our Annual Results Report 2022 highlighting the impact and results of our work. Notwithstanding the continued challenges of the coronavirus pandemic, as the lead private sector development agency in the Caribbean, we are happy with the concrete and direct support provided to business as we seek to help build a resilient Caribbean. Recognising the importance of sustained focus to deliver transformation results, we maintained our emphasis on the three pillars of our 2021-2024 Strategic Plan: export development and promotion; building the capacities of our investment promotion agencies and profiling the Region as an investment destination; and supporting the services sector as the next frontier for Caribbean business. The 2022 Annual Results Report looks at the impact of work is these areas. Caribbean Export has been able to conduct a series of targeted interventions aimed at driving investment in strategic sectors within the region, help accelerate the green transition of businesses, support women entrepreneurs and help position our businesses in transitioning their operations to digital platforms and e-commerce facilities. In a year of delivery across the board, the flagship Caribbean Investment Forum (CIF) in collaboration with the Government of Trinidad and Tobago, the European Union, the Caribbean Association of Investment Promotion Agencies (CAIPA), the Caribbean Development Bank (CDB) and other partners, was a landmark initiative for the year. The focus of CIF was

Annual Results Report - 2022 | Transforming to a Greener, Smarter, Resilient Caribbean 7