2024 Annual Results Report

www.carib-export.com

Delivering Impact Annual Results Report | 2024 @caribbeanexport | @caribxport

Caribbean Export: Transforming businesses, transforming lives, and delivering impact where it counts most.

OUR VISION To be the driving force behind the Caribbean's economic transformation by enabling a globally competitive and resilient private sector. OUR MISSION Strengthening the Caribbean private sector by providing targeted strategic support, mobilizing resources, and building impactful partnerships that drive innovation, resilience, and sustainable economic growth.

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DELIVERING IMPACT

Annual Results Report - 2024

CONTENTS

Acronyms Message from the Chairperson of the Board

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Message from the Executive Director Message from the European Union About Caribbean Export: Delivering Impact for a Resilient Caribbean Strategic Goals: A Roadmap for Transformation and Sustainable Growth Year in Review: Statistical Highlights Partnerships in Action: The Foundation of Growth and Resilience Projects Implemented in 2024 What Our Partners Say Catalysing Investment: Driving Growth and Opportunity in the Caribbean Transforming Our Future, Empowering Growth: Caribbean Investment Forum, Guyana Powering the Future: Digital Transformation for a Competitive Caribbean Driving Digital Transformation: Connecting Corporate and Startups Empowering MSMEs Through Digital Transformation Unlocking Export Potential: Empowering Caribbean Businesses Leveraging Trade Opportunities Building Capacity to Supporting the Green Transition in Renewable Energy Absolutely Caribbean: Building Global Recognition for Brand Caribbean Scaling Success: How Superb Blend Leveraged Caribbean Export’s Support Contact Us

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Acronyms

Afreximbank

African-Export Import Bank

AgTech

Agricultural Technology

B2B

Business to Business

BSO

Business Support Organisation

CAF

Development Bank of Latin America and the Caribbean

CARIFORUM

Caribbean Forum

CCREEE

Caribbean Centre for Renewable Energy and Energy Efficiency

CDB

Caribbean Development Bank

CDTI

Caribbean Digital Transformation Institute

CIF

Caribbean Investment Forum

COP29

United Nations Climate Change Conference 29

EPA

Economic Partnership Agreement

EU

European Union

EU-LAC

European Union - Latin America and the Caribbean

FDI

Foreign Direct Investment

IDB

Inter-American Development Bank

MOU

Memorandum of Understanding

MSME

Micro, Small and Medium-sized Enterprise

NDICI-Global Europe

Neighbourhood, Development and International Cooperation Instrument

OECD

Organisation for Economic Co-operation and Development

RPSDP III

Regional Private Sector Development Programme III

SDG

Sustainable Development Goals

UN ECLAC

United Nations Economic Commission for Latin America and the Caribbean

UNCTAD

United Nations Conference on Trade and Development

USAID

United States Agency for International Development

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MESSAGES

Message from the

Chairperson of the Board

The 2024 Annual Results Report reflects another year of remarkable progress for the Caribbean Export Development Agency, underscoring the Agency’s unwavering commitment to driving private sector development in the region. On behalf of the Board of Directors, I extend my deepest appreciation to the management and staff for their dedication and the many achievements realized over the past year. As the Caribbean economy continues to recover from the lingering effects of the COVID-19 pandemic, Caribbean Export has remained steadfast in its mission to enhance the region’s economic resilience. Amidst the volatility of small island economies, the Agency has taken strategic steps to position Caribbean businesses—particularly MSMEs—for sustained growth, global competitiveness, and job creation. In 2024, Caribbean Export built upon the solid foundations laid in previous years, guided by new leadership and a renewed vision. The Agency successfully completed the first year of implementation under the European Union (EU)-funded Regional Private Sector Development Programme III, further reinforcing its role as a catalyst for economic transformation. With donor support from the EU, Compete Caribbean, the Inter-American Development Bank (IDB), Republic Bank Limited, and the Caribbean Development Bank (CDB), the Agency achieved an overall implementation rate of 93%, a testament to its efficiency in executing impactful initiatives. The expansion of strategic partnerships has further strengthened Caribbean Export’s ability to foster sustainable economic growth and enhance regional competitiveness. A key highlight of the year was the continued success of the Caribbean Investment Forum (CIF)—the Agency’s flagship investment event. CIF 2024 raised the bar yet again, delivering a high-calibre platform that showcased 15 investment-ready projects with a collective value of USD 60M from across CARIFORUM. The forum strategically focused on three priority sectors: sustainable agriculture, green economy transition, and digital transformation, aligning with global investment trends while meeting the region’s development needs. Caribbean Export’s achievements in 2024 reaffirm its status as the leading agency for private sector development in the Caribbean. As we look ahead, we remain confident that through strategic collaborations, innovation, and unwavering commitment, the Agency will continue to unlock opportunities, drive economic transformation, and shape a more prosperous future for the region.

Dr. Lynette Holder Chairperson of the Board of Directors Caribbean Export Development Agency

“Caribbean Export has remained steadfast in its mission to enhance the region’s economic resilience.”

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MESSAGES

Message from the Executive Director

As the Caribbean’s leading agency for private sector development, I am pleased to present the 2024 Annual Results Report, reflecting another year of impact, resilience, and growth. In a global landscape marked by economic recovery, climate challenges, and geopolitical shifts, Caribbean Export has remained steadfast in its mission to support businesses and strengthen the region’s economic foundation. With 2024 marking the final year of our 2021-2024 Strategic Plan, we focused on deepening investment opportunities and enhancing business competitiveness through donor-funded initiatives. Our efforts centred on digital business and innovation, export development, and market expansion, with targeted support for renewable energy adoption, business network development, and the advancement of women-owned enterprises. Through these interventions, we have continued to empower MSMEs across 15 CARIFORUM states, providing direct support to over 930 firms in key sectors such as agro-processing, non food manufacturing, and professional services, contributing to the region’s economic momentum. In making CARIFORUM MSMEs ripe for investment, Caribbean Export had its third iteration of the Caribbean Investment Forum (CIF), this year in Guyana. Over 360 delegates engaged at the event, further fortifying relationships with potential partners and supporting regionalisation advanced discussion on critical issues. As we continue positioning Caribbean Export as the premier platform for investment in the region, these engagements are pivotal in unlocking new opportunities for our private sector. Given the current economic climate, Caribbean Export has continued to embrace development partners like EU-LAC Digital Accelerator, Compete Caribbean through IDB funding, Republic Bank Limited, direct support from the IDB and the CDB, along with the European Union's funding, through the RPSDP III, driving the agency forward. Additionally, we have signed 5 MOUs in 2024 with partners like the Afreximbank, CAF, Pleion Group (a CIF success), DHL Group and CCREEE. As we look to the future, Caribbean Export is seeking to embark on new relationships in support of the future of the private sector. In 2024, Caribbean Export has completed its first full year under the NDICI funded RPSDP III and successfully completed the 2021-2024 Strategic Plan. As we journey on this road ahead, I am proud to announce our new Strategic Plan for 2025-2028, which has been approved by the Board of Directors is set to commence. This plan takes a laser focused direction to empower businesses to become more competitive and integrative into the global market; positioning the Caribbean as a premier investment destination; and investing in the institutional strengthening of Caribbean Export. Strong governance and transparency with audit reports are at the forefront of our operations at the Agency and are available for public consumption at www.carib-export.com. Finally, I would like to thank our Board of Directors for their support as we cement our position as the leading executing agency in the Caribbean region for private sector support and driving impact in the future economic development of the Caribbean. These achievements were made possible with the tireless work of my dedicated staff at Caribbean Export, and I am forever grateful for their service and support of the Agency and the Caribbean people.

Damie Sinanan Executive Director Caribbean Export Development Agency

“These achievements were made possible with the tireless work of my dedicated staff at Caribbean Export,

and I am forever grateful for their

service and support of the Agency and the Caribbean people.”

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MESSAGES

Message from the European Union

Despite the evolving global political landscape, the European Union (EU) remains steadfast in its commitment to fostering sustainable economic growth and resilience in the Caribbean. Recognizing that long-term prosperity requires sustained collaboration, the EU is committed to support the Latin America and the Caribbean under the Global Gateway Investment Agenda (GGIA). Through the GGIA the EU supports partner countries to bridge the region’s investment gap and mobilize private capital for innovative, sustainable, and transformative investments. By combining hard infrastructure investments with flanking measures in the regulatory frameworks, the EU assist partner countries in improving their business and investment environment, upscaling their export capacity, developing human capital, and building together a more secure and resilient global supply chain. To successfully implement the Global Gateway Investment Agenda in the region, we rely on strong, like-minded partners who share our vision and commitment. In this regard, the Caribbean Export Development Agency, with whom we have a solid and long-standing partnership, plays a key role in driving private sector development and strengthening trade and investment linkages between the Caribbean and Europe. A key pillar of this collaboration is the Regional Private Sector Development Programme III (RPSDP III) whose impact and achievements are showcased in this report. The program strengthens diversification and competitiveness within the private sector by supporting Micro, Small, and Medium Enterprises (MSMEs) in their green transition, digital transformation, and access to finance, all of which we believe are critical to long-term economic sustainability. Furthermore, the Regional Private Sector Development Programme plays a pivotal role in supporting Caribbean businesses in reaping the benefits of the CARIFORUM-EU Economic Partnership Agreement (EPA), a key framework of economic cooperation between our regions that allows an asymmetric duty-free and quota-free access of Caribbean goods and services into the European Single Market. The Regional Private Sector Development Programme has also been notably instrumental in preparing companies to comply with EU regulatory requirements, in enhancing the knowledge about key EPA’s provisions, in developing market intelligence tools or in connecting regional business with counterparts in Europe. In 2024, once again, Caribbean Export has successfully delivered multiple EU-funded initiatives in key economic sectors such as digital, green economy, and investment promotion, encompassing capacity-building webinars, international trade shows, and the Caribbean Investment Forum (CIF), the region’s reference investment event. These initiatives have contributed to boost trade, fostering innovation, and positioning the Caribbean on the path to attract high-quality and sustainable investments. The achievements highlighted in this Annual Results Report underscore the power of strategic partnerships in addressing shared challenges and unlocking economic opportunities. I commend Caribbean Export for its unwavering commitment to strengthening the private sector, enhancing competitiveness, and supporting small businesses in accessing European markets, while promoting the presence of European Private Sector in the region. Lastly, I would like to commend the strong dedication and commitment demonstrated by the former Executive Director of the Caribbean Export Development Agency, Mr. Deodat Maharaj, throughout his tenure, and also extend our appreciation to the new Executive Director Dr. Damie Sinanan for ensuring a smooth transition and for his vision on how the agency can achieve greater impact and success.Together, we will continue to create lasting, impactful solutions that drive sustainable growth and prosperity for the people in the Caribbean.

Her Excellency Ambassador Malgorzata Wasilewska

Head of Delegation of the European Union to Barbados, the Eastern Caribbean States, the OECS, and CARICOM/CARIFORUM

“The achievements highlighted in this Annual Results Report underscore the power of strategic partnerships in addressing shared challenges and unlocking economic opportunities..”

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ABOUT CARIBBEAN EXPORT:

DELIVERING IMPACT FOR A RESILIENT CARIBBEAN

About Caribbean Export: Delivering Impact for a Resilient Caribbean

Caribbean Export is the leading regional trade and investment promotion agency, committed to transforming the Caribbean into a globally competitive and resilient economic space. Guided by a clear vision and mission, our work centres on driving private sector-led growth and sustainable development, ensuring that our impact resonates where it matters most—within the lives of the people and businesses we serve. Our programmes are tailored to meet the region’s unique challenges and opportunities, focusing on building the competitiveness of Caribbean businesses while fostering economic transformation across our member states. By championing innovation, inclusivity, and climate responsibility, we align our initiatives with the Sustainable Development Goals (SDGs) to create lasting value for our stakeholders and communities.

Caribbean Export’s transformative agenda is anchored in three strategic areas:

Sustainable Agriculture

Digital Transformation

Transition to a Green Economy

These focus areas underpin our efforts to drive sustainable and inclusive economic growth. We aim to enhance market access, attract investment, and support the transition to a greener, more sustainable economy. From e-commerce and digitalization to green manufacturing and renewable energy, we empower Caribbean businesses to thrive in high-value markets while building resilience against global economic shifts and climate vulnerabilities. With a steadfast commitment to inclusivity, we create opportunities for underrepresented groups such as women, youth, and marginalized communities, ensuring equitable access to resources, training, and financing. Our results-driven approach emphasizes measurable outcomes, with robust monitoring and evaluation frameworks that showcase the tangible impact of our initiatives. Operating from offices in Barbados and the Dominican Republic, Caribbean Export consistently delivers high-impact programs, demonstrating institutional excellence, efficiency, and adaptability in executing its initiatives. By fostering strong partnerships, mobilizing resources, and leveraging innovation, we remain at the forefront of regional development, dedicated to shaping a prosperous and sustainable Caribbean future.

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STRATEGIC GOALS:

A ROADMAP FOR TRANSFORMATION AND SUTAINABLE GROWTH

Strategic Goals: A Roadmap for Transformation and Sustainable Growth

The Caribbean is at a pivotal moment, poised to unlock its vast potential in a rapidly evolving global economy. Caribbean Export, as the region's premier trade and investment promotion agency, stands committed to driving transformative growth through innovation, collaboration, and strategic action. Our 2025-2028 Strategic Plan reflects a bold vision for the future— one that leverages partnerships to amplify impact, positions the private sector as the engine of economic progress, and lays the groundwork for a sustainable and inclusive regional economy. At the heart of this plan is a focus on strengthening resilience, competitiveness, and innovation within the private sector. Through targeted initiatives and cross-sector collaboration, Caribbean Export seeks to ensure that the benefits of economic growth are shared widely across the region, leaving no one behind. By fostering strategic alliances with governments, donors, private sector stakeholders, and international development partners, the Agency is creating an ecosystem that enables regional businesses to thrive in a competitive global market.

1. Strengthen Private Sector Competitiveness for Global Market Integration Caribbean Export empowers businesses to expand into regional and global markets by enhancing export readiness, embracing digital transformation, and building resilience to climate-related risks. Targeted initiatives such as capacity-building programs, market intelligence tools, and export promotion activities aim to unlock new growth opportunities and foster innovation. 3. Institutional Strengthening and Resilience The Agency’s commitment to governance, accountability, and results-based management ensures effective resource utilization and measurable impact. With robust digital transformation initiatives, Caribbean Export is enhancing operational efficiency and strengthening its position as a trusted partner for regional development programmes.

2. Attract Foreign Direct Investment through Bankable Projects

Investment-ready are the linchpin of regional economic transformation. By developing and promoting investment-ready projects, Caribbean Export positions the region as a hub for sustainable investment. Initiatives like the Caribbean Investment Forum and the Project Preparation Facility support the creation of high quality opportunities that meet global investor standards and drive economic diversification. projects

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YEAR IN REVIEW:

STATISTICAL HIGHLIGHTS

Year in Review: Statistical Highlights

The Caribbean private sector continues to evolve, with Caribbean Export at the forefront of fostering its development. In 2024, the agency successfully completed its first full year of implementing the Regional Private Sector Development Programme (RPSDP III), funded by the European Union, while also managing resources from other development partners. Amidst this dynamic landscape, Caribbean Export has expanded its strategic partnerships to drive innovation, particularly in key focus areas such as the green economy transition and the digital transformation of businesses. These efforts reflect the agency’s commitment to building a more competitive, resilient, and globally connected private sector across the Caribbean.

930 OVER BUSINESS PROFESSIONALS ACROSS THE CARIBBEAN PARTICIPATED IN OVER 10 INTERVENTIONS IN 2024 6 DEVELOPMENT PROGRAMMES

USD 14M MANAGED FUNDS Caribbean Export is directly managing funds of over USD 14M from 6 different international development partners Caribbean Export’s communications have touched over 2.8 million people global ly

Women continue to represent the largest percentage of

beneficiaries at 52%

KEY SECTORS REPRESENTED • Agriculture & Agri-business • Manufacturing (Non-Food) • Professional & Business Services

Caribbean Export is implementing 6

economic development programmes supporting the advancement of Caribbean businesses

FOLLOWERS 66,756 Caribbean Export continues to reach new audiences and has an active follower base of over 66, 756 across the Caribbean.

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YEAR IN REVIEW:

STATISTICAL HIGHLIGHTS

ENGAGEMENT LEVEL

100 150 200 250

50

0

Haiti

Belize

Guyana

Jamaica

Grenada

Barbados

Dominica

Suriname

Saint Lucia

The Bahamas

St. Kitts & Nevis

Trinidad & Tobago

Antigua & Barbuda

Dominican Republic

Saint Vincent & the Grenadines

Engagement Level

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Partnerships in Action: The Foundation of Growth and Resilience

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PARTERNSHIPS IN ACTION:

THE FOUNDATION OF GROWTH AND RESILIENCE

For over 25 years, Caribbean Export has demonstrated its leadership in managing and implementing Official Development Assistance programmes that drive regional economic growth. Recognizing the profound challenges posed by climate change, Caribbean Export has expanded its partnerships to address the vulnerabilities of the region’s Micro, Small, and Medium-Sized Enterprises (MSMEs). These businesses, forming the backbone of the Caribbean economy, face heightened risks from extreme weather events, which disrupt supply chains, damage infrastructure, and undermine agricultural productivity. According to OECD the Caribbean has seen increased frequency of extreme weather event by 85% between 2001 to 2020 compared to the period between 1980 and 2000. This underscores the escalating impact of climate change on the region. Limited access to finance, technology, and infrastructure further compounds these challenges, threatening the resilience and sustainability of MSMEs, while posing long-term risks to the region’s economic resilience. The stakes are high with an urgency to address these challenges. The region also faces structural challenges, as the World Bank has reported that the broader Latin America and Caribbean region is forecasted to grow by only 1.9% in 2024, the lowest among global regions, with a modest rebound to 2.6% anticipated in 2025. These figures highlight the need for accelerated efforts to strengthen economic resilience and competitiveness. Caribbean Export has integrated these imperatives into its transformative agenda, as outlined in its Strategic Plan 2025-2028. This agenda focuses on building a resilient private sector that aligns with the UN’s Sustainable Development Goals (SDGs), particularly those targeting poverty reduction, gender equality, decent work, climate action, and partnerships for sustainable development. By leveraging strategic alliances and embracing innovation, Caribbean Export aims to create high-value jobs and foster inclusive growth across the region. These partnerships amplify the Agency’s ability to drive impactful initiatives, from promoting green technology adoption to advancing digital transformation. Caribbean Export remains committed to collaborating with global organizations that share its vision for sustainable development. Together, we aim to navigate the challenges of a changing climate and evolving economies, paving the way for a Caribbean that is resilient, inclusive, and poised for long-term prosperity.

Latin America and Caribbean region is forecasted to grow by only 1.9% in 2024, the lowest among global regions, with a modest rebound to 2.6% anticipated in 2025.

World Bank - Taxing Wealth for Equity and Growth, 2024

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PARTERNSHIPS IN ACTION:

THE FOUNDATION OF GROWTH AND RESILIENCE

Projects Implemented in 2024 EU: Regional Private Sector Development Programme III (RSPDP III) The RPSDP III commenced in October 2023 and aimed to enhance employment opportunities, foster inclusivity (especially for youth, women, and indigenous communities), and alleviate poverty across CARIFORUM States. The programme pursued three primary objectives: reinforce private sector diversification and competitiveness in the Caribbean with a special focus on MSMEs including women and youth owned enterprises; and to enhance trade and investment between the Caribbean and the EU in the framework of the Economic Partnership Agreement (EPA) including support to B2B dimension and assisting the Caribbean private sector to grow in an inclusive and sustainable manner, including in the area of services. EU-LAC Digital Accelerator The EU-LAC Digital Accelerator is a five-year programme being implemented by a consortium consisting of ten partners from across Latin America and Europe including Tecnalia, European Business and Innovation Centre and Network, European Business Angel Network, IDB Labs, Expertise France, IESE Business School and Wayra, with Caribbean Export positioned as the implementing partner of activities in the Caribbean region. The EU-LAC Digital Accelerator is an initiative to foster innovation and digital transformation across the three regions, through accelerated collaboration among multiple stakeholders and the private sector. The programme aims to enhance competitiveness, digital skills, and innovation, and establish EU-LAC partnerships between European and Latin American/ Caribbean businesses operating within the digital sphere. Compete Caribbean: The Caribbean Digital Transformation Institute (CDTI) Project Funded by the Inter-American Development Bank in collaboration with the Compete Caribbean Partnership Facility, this three-year (2022-2024) project aims to establish the CDTI as a regional public asset. The project’s primary objective is to coordinate the regional ecosystem to facilitate the transformation of MSMEs through the adoption of digital technologies. Republic Bank Ltd: Project THRIVE In 2023, Caribbean Export and Republic Bank Ltd, the largest indigenous bank in the Caribbean, extended their Memorandum of Understanding (MOU) to support small business development in the region. This collaboration is focused on equipping MSMEs with the skills, tools, and financial knowledge needed to scale their operations, improve competitiveness, and expand into international markets. Project THRIVE will be launched in 2025 offering a transformational capacity building programme designed to empower Republic Bank Ltd. business clients through a strategic mix of training, mentorship, and financial literacy initiatives.

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PARTERNSHIPS IN ACTION:

THE FOUNDATION OF GROWTH AND RESILIENCE

Inter-American Development Bank: Caribbean Green Energy Adoption and Energy Efficiency Toolkit for MSMEs Funded by the Inter-American Development Bank (IDB), this project seeks to create a regional public good that strengthens the capacity of key stakeholders through training, tools, and resources designed to help firms improve energy efficiency and transition to green energy solutions. Addressing a critical gap in the region, this initiative will have a transformative impact on Caribbean MSMEs, which make up over 70% of businesses. By equipping them with the knowledge and support needed to adopt sustainable energy practices, the project will drive cost savings, enhance competitiveness, and contribute to a greener Caribbean economy. Caribbean Development Bank: Improving the Ease of Starting a Business in the Caribbean Funded by the Caribbean Development Bank (CDB) this programme seeks to improve the processes and procedures for starting a business by focussing on the re-engineering of the business registration processes, including their digital transformation and enhancing their customer service.

6 PROGRAMMES IMPLEMENTED

African-Export Import Bank (Afreximbank) - In June 2024, Caribbean Export and Afreximbank signed an MOU to collaborate on capacity building, information exchange, trade facilitation, and investment promotion between Africa and the Caribbean, aiming to unlock new opportunities for growth and collaboration. Development Bank of Latin America and the Caribbean (CAF) - Caribbean Export and CAF renewed their partnership to promote investment opportunities and foster economic transformation in the Caribbean, focusing on strategic collaborations to drive sustainable growth in the region. Pleion Group Inc. - In June 2024, an MOU was signed between Caribbean Export and Pleion Group Inc. to enhance regional transportation through the Connect Caribé initiative, aiming to boost regional trade and logistics, thereby driving economic growth across the Caribbean. DHL Group - Caribbean Export and DHL have formalized a strategic partnership through an MOU to enhance the capabilities of MSMEs in the Caribbean. This collaboration focuses on e-commerce, logistics, and professional development, supporting MSMEs' growth in the global marketplace. Caribbean Centre for Renewable Energy and Energy Efficiency - At the UN Climate Change Conference 29 (COP29), Caribbean Export and CCREEE renewed their MOU to promote renewable energy and energy efficiency across CARIFORUM states. The partnership focuses on empowering Caribbean businesses to adopt sustainable energy practices through technical assistance, capacity building, and joint project development.

MOUs Signed in 2024 Caribbean Export remains dedicated to driving economic growth, sustainability, and resilience in the Caribbean. In 2024, the agency forged key alliances with leading institutions to advance this mission, by signing the following memorandums of understanding (MOUs): EUROPEAN UNION PILLAR ASSESSED • Internal Control • Accounting • External Audit • Grants • Procurement • Exclusion from Access to Funding • Publication of Information on Recipients • Protection of Personal Data

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PARTERNSHIPS IN ACTION:

WHAT OUR PARTNERS SAY

What Our Partners Say

Inter-American Development Bank Carina Cockburn Country Representative, IDB Country Office Barbados

Inter-American Develoment Bank (IDB) is proud to partner with Caribbean Export to support the digital transformation and climate response of Caribbean businesses, both through its regional public good instruments and through Compete Caribbean, a partnership between the IDB, the United Kingdom’s Foreign and Commonwealth Development Office, the Caribbean Development Bank, and the Government of Canada. We are especially proud of the partnership regarding the Digital Check-up tool for micro, small and medium-sized enterprises (MSMEs), and the progress on building the Caribbean Digital Transformation Institute, which will be launched later this year to further support the digital transformation of MSMEs. Another joint project currently being developed is the Green Energy Adoption and Energy Efficiency Toolkit for MSMEs which will support Caribbean companies to become more energy-efficient and facilitate the adoption of energy management systems. We are very pleased to have collaborated with Caribbean Export on these initiatives and look forward to continuing our strong partnership in the future.

“We are especially proud of the partnership regarding the Digital Check-up tool.”

Driven by our commitment to sustainable economic growth in the region, the Caribbean Development Bank has chosen Caribbean Export as a key partner for private sector development programmes. Their deep understanding of the region, and focus on entrepreneurship, trade and investment align perfectly with our objectives. We place great confidence in Caribbean Export’s expertise and innovative capacity to deliver meaningful results that empower businesses across the Caribbean. Working together, we aim to unlock the region’s private sector potential to foster resilience and improve livelihoods. Caribbean Development Bank Mr. Isaac Solomon Vice President, Operations, Caribbean Development Bank

“We place great confidence in Caribbean Export’s expertise and innovative capacity to deliver meaningful results.”

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PARTERNSHIPS IN ACTION:

WHAT OUR PARTNERS SAY

Tecnalia Maika Gorostidi EU-LAC Digital Accelerator Project Director, Tecnalia

The year 2024 has been a period of great momentum for the EU LAC Digital Accelerator in the Caribbean, and among others, I would highlight the launch of the Digital Connectors programme in the Dominican Republic. Caribbean Export has contributed considerably to its success, which is reflected in the increase of Caribbean corporations and startups that are joining and participating in the accelerator. This is the case of corporations such as Grupo Corripio that has already entrusted some of its digital challenges to the accelerator and other companies that we are accompanying under the leadership of Caribbean Export. We are confident that 2025 will be a year that will visualise the positive impact generated by the EU LAC Digital Accelerator as a result of the joint work of all partners, and especially the local partner Caribbean Export.

“The year 2024 has been a period of great momentum for the EU LAC Digital Accelerator in the Caribbean”

Republic Bank Limited Nigel Baptiste Group President & Chief Executive Officer, Republic Financial Holdings Ltd.

At Republic Bank, we believe that the growth of our economies is intrinsically linked to the success of our private sector, particularly our SMEs. Since 2022, our partnership with the Caribbean Export Development Agency (Caribbean Export) has been a powerful catalyst for building capacity, fostering intra-regional trade, and unlocking new opportunities for businesses across the Caribbean and beyond. Together, we have facilitated export development training, supported in-country SME development, and played a pivotal role in initiatives like Caribbean Export’s Caribbean-West Africa Trade Mission to Ghana. Through our major sponsorship of the Caribbean Investment Forum, we have strengthened regional and global business connections, driving meaningful outcomes for enterprises and economies alike. Looking ahead, our commitment deepens with a new agreement to develop 500 SMEs across the Republic Bank Group in the Caribbean and in Ghana. This underscores our shared vision with Caribbean Export: to create a sustainable, thriving ecosystem where businesses can expand, innovate, and contribute to the broader prosperity of our region. We are proud of what we have achieved together and remain steadfast in our dedication to empowering businesses, fostering trade, and ensuring the long term economic resilience of the Caribbean.

“Looking ahead, our commitment deepens with a new agreement to develop 500 SMEs.”

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Catalysing Investment: Driving Growth and Opportunity in the Caribbean

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CATALYSING INVESTMENT:

DRIVING GROWTH AND OPPORTUNITY IN THE CARIBBEAN

In a rapidly evolving global economy, investment plays a pivotal role in shaping the future of industries, infrastructure, and economic resilience. However, according to the OECD global foreign direct investment (FDI) flows continue to face headwinds, with a 7% decline in 2023, bringing total FDI to USD 1.36T, marking the second consecutive year below pre-pandemic levels. In Latin America and the Caribbean, it was reported by UN ECLAC that FDI inflows dropped by 9.9% to USD 184.3B, reflecting a broader trend of economic uncertainty and shifting investor priorities. Despite these challenges, the Caribbean remains a dynamic and attractive destination for investment, particularly in sectors such as renewable energy, digital transformation, sustainable tourism, agri-business, and logistics. The region’s growing focus on climate resilience, innovation, and regional integration has positioned it as a compelling option for investors seeking long-term, sustainable opportunities. Caribbean Export is at the forefront of this transformation, championing investment-led growth that creates jobs, strengthens industries, and accelerates economic diversification. Through strategic partnerships, investment facilitation, and targeted sectoral initiatives, we are committed to ensuring that FDI not only flows into the region but also delivers equitable, impactful, and sustainable benefits for businesses and communities. As global investment patterns shift, the Caribbean must remain agile in attracting capital that aligns with its long-term development goals. This means fostering an enabling business environment, modernizing regulatory frameworks, and leveraging trade agreements such as the CARIFORUM-EU EPA to unlock new opportunities. By nurturing investor confidence and connecting high-potential projects with international capital, Caribbean Export is helping to shape a future where investment drives inclusive prosperity, economic resilience, and a thriving private sector. Transforming Our Future, Empowering Growth: Caribbean Investment Forum, Guyana The Caribbean Investment Forum (CIF) has established itself as the premier platform for attracting investment, fostering strategic partnerships, and positioning the Caribbean as a hub for sustainable economic development. With an emphasis on green investments, digital transformation, and economic resilience, CIF continues to showcase the Caribbean as a prime destination for international investors. In 2024, CIF was hosted in Georgetown, Guyana, under the theme “Transforming Our Future, Empowering Growth.” Organized by Caribbean Export in collaboration with the Government of Guyana, the European Union, the CARICOM Secretariat, and the Caribbean Development Bank (CDB), the Forum brought together government leaders, private sector executives, international investors, and development partners to discuss and catalyse investments that drive sustainable growth. CIF’s growing international appeal was evident in 2024, with 23% of attendees coming from outside the Caribbean, a significant increase from 16% in previous years. This demonstrates CIF’s expanding global recognition as a key platform for investment discussions, deal-making, and economic collaboration.

“The Caribbean Investment Forum is not just an event—it is a movement towards a more resilient, sustainable, and investment-ready Caribbean.” – Dr Damie Sinanan, Executive Director, Caribbean Export

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CATALYSING INVESTMENT:

DRIVING GROWTH AND OPPORTUNITY IN THE CARIBBEAN

Key Focus Areas and Investment Opportunities CIF 2024 focused on three key sectors critical to the region’s economic transformation:

Green Economy & Renewable Energy The Caribbean’s vulnerability to climate change and the global push toward renewable energy makes investments in green technology, sustainable infrastructure, and energy efficiency vital. CIF 2024 highlighted investment-ready projects aimed at reducing the region’s dependence on fossil fuels, enhancing energy security, and driving economic sustainability. Sustainable Agriculture & Food Security With rising global concerns about food security, CIF 2024 emphasized the importance of climate-resilient and sustainable agricultural practices. Discussions explored precision farming, organic agriculture, and biotechnology, offering investors the opportunity to support initiatives that boost productivity, create jobs, and open new export markets while preserving biodiversity. Digital Transformation & Innovation Technology is a key driver of global competitiveness. CIF 2024 reinforced the need for investments in digital infrastructure, tech startups, and e-commerce platforms to enhance business efficiency, drive innovation, and open new market opportunities. The Forum showcased successful digital transformation case studies, emphasizing the role of digital skills training and education in preparing the Caribbean workforce for the evolving global economy.

“We have to go after innovation that will position us as a region of excellence, and a region of excellence requires innovative thinking, it requires investing in a knowledge economy, investing in our human resources, building the right and strong partnerships. These are the things that matter.” –

H.E Dr Mohamed Irfaan Ali, President of the Co-operative Republic of Guyana

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CATALYSING INVESTMENT:

DRIVING GROWTH AND OPPORTUNITY IN THE CARIBBEAN

By focusing on these key areas, CIF 2024 aimed to catalyse transformation in the region, positioning the Caribbean as a dynamic and forward-looking economic area ripe for investment. The emphasis on green business, sustainable agriculture, and digitalisation reflects a strategic alignment with global development priorities, ensuring that investments contribute to a more sustainable, resilient, and prosperous Caribbean. The Forum's outcomes are expected to foster a more integrated regional market, attract foreign direct investment, and support the development of policies that facilitate economic growth and diversification. Through continued collaboration and commitment to these initiatives, the Caribbean is poised to transform its economic landscape and secure a prosperous future for its people.

Investment Highlights:

Total Portfolio Value: Nearly USD 60M 50% increase from CIF 2023 Number of Projects: 8 Countries Represented: Sustainable Agriculture & Digital Transformation The Bahamas

Investment Village: Connecting Projects with Capital

Saint Lucia St. Vincent & the Grenadines

Caribbean Export continues to bridge the gap between high-impact investment projects and global investors through its Investment Village initiative. At CIF 2024, the Forum showcased eight investment-ready projects in sustainable agriculture and digital transformation, with a total portfolio value nearing USD 60M—a 50% increase compared to the previous year. These projects were carefully curated and packaged to align with investor demands, reflecting the Agency’s commitment to facilitating large-scale, high-return investments in the region.

Dominican Republic

Guyana

Suriname

By presenting well-structured, investment-ready projects, CIF 2024 opened doors for transformative investment deals that will fuel regional economic growth, create employment opportunities, and drive sectoral innovation.

Country

Sector

Project

Investment (USD)

Sustainable Agriculture

Prosperina AgTech

500,000

The Bahamas Dominican Republic

Sustainable Agriculture

Crazy About Organics

6,798,000

Sustainable Agriculture

HUBU Aquafarm

5,000,000

Guyana Guyana Guyana Saint Lucia

Sustainable Agriculture

GUYIMEX International

13,200,000

Digitalization of Business

HealthApp Solutions

15,708,700

Digitalization of Business

Orbtronics Innovation Hub

5,000,000

Sustainable Agriculture

Transforming Caribbean Agriculture through Innovation and Sustainability

7,667,500

Saint Vincent & the Grenadines Suriname

Sustainable Agriculture

Project Kiem

5,000,000

22 | CARIBBEAN EXPORT ANNUAL RESULTS REPORT 2024

CATALYSING INVESTMENT:

DRIVING GROWTH AND OPPORTUNITY IN THE CARIBBEAN

A High-Impact Networking Platform CIF continues to distinguish itself as the Caribbean’s leading business networking event, facilitating meaningful investor connections and business collaborations. 221 B2B MEETINGS HELD, CREATING DIRECT PATHWAYS FOR DEAL-MAKING

INCREASED BY 12% COMPARED TO 2023 SPONSORSHIP

PLATINUM SPONSORS:

GOLD SPONSORS:

SILVER SPONSORS:

BRONZE SPONSORS:

CARIBBEAN EXPORT ANNUAL RESULTS REPORT 2024 | 23

CATALYSING INVESTMENT:

DRIVING GROWTH AND OPPORTUNITY IN THE CARIBBEAN

Expanding Global Awareness Through Strategic Communication

Communications Highlights:

CIF 2024’s communications campaign significantly amplified the visibility of the event, ensuring that investment opportunities in the Caribbean reached a global audience. Through a targeted integrated campaign that included digital marketing, media partnerships, and stakeholder engagement, the Forum attracted interest from investors, policymakers, and business leaders worldwide. This multi-channel approach ensured that CIF’s key messages on sustainability, digital transformation, and economic resilience reached a diverse and influential global audience. Looking Ahead: Strengthening the Caribbean’s Investment Ecosystem The success of CIF 2024 underscores the Caribbean’s growing attractiveness as an investment destination. Through strategic partnerships, targeted investment facilitation, and data-driven project packaging, Caribbean Export remains committed to expanding the region’s investment pipeline and accelerating economic transformation. As the Caribbean continues to position itself as a global leader in sustainable development, digital transformation, and economic diversification, CIF will play an essential role in driving investments that empower businesses, strengthen industries, and create lasting prosperity for the region.

Social Media Over 3.9 million impressions across

Engaged Audience:

More than 82,800 interactions Campaign Clicks: Over 45,000

visitors engaged with CIF content

24 | CARIBBEAN EXPORT ANNUAL RESULTS REPORT 2024

Powering the Future: Digital Transformation for a Competitive Caribbean

CARIBBEAN EXPORT ANNUAL RESULTS REPORT 2024 | 25

POWERING THE FUTURE:

DIGITAL TRANSFORMATION FOR A COMPETITIVE CARIBBEAN

Digital transformation is reshaping industries worldwide, and for Caribbean MSMEs, it presents a critical opportunity to boost productivity, enhance product offerings, and diversify markets. As global trade becomes increasingly digitized, businesses that fail to adopt technology risk being left behind. Caribbean Export has been at the forefront of this transition, driving initiatives that equip the region’s private sector with the tools, knowledge, and support necessary to thrive in a rapidly evolving digital economy. One of the most significant shifts has been the acceleration of e-commerce, which has provided MSMEs with direct access to international markets. The COVID-19 pandemic underscored the necessity of digital trade, and Caribbean businesses that successfully pivoted to online platforms were able to expand their customer base and increase exports. Recognizing this, Caribbean Export partnered with DHL Group to launch the Go Trade & Grow Beyond Borders series, designed to strengthen MSMEs’ e-commerce capabilities. The series kicked off with the Welcome to eCommerce webinar, which explored digital communication, collaboration tools, and operational strategies for running a successful online business. Yet, while e-commerce has opened doors, logistics and transportation challenges continue to hinder MSME competitiveness. The high cost of shipping, fragmented supply chains, and outdated port infrastructure remain barriers to efficient trade. These issues were spotlighted at the 2024 UNCTAD Global Supply Chain Forum, where Caribbean Export hosted a panel discussion featuring regional stakeholders. The discussion emphasized the need for MSMEs to have a voice in shaping trade policies, the creation of cost-effective bulk shipping solutions, and urgent investment in modernizing logistics infrastructure to enhance efficiency and competitiveness. As part of the Go Trade & Grow Beyond Borders initiative, Caribbean Export and DHL also hosted The Art of Logistics webinar, equipping MSMEs with essential knowledge on managing international shipments and navigating the complexities of cross-border trade. Beyond logistics, digital transformation is reshaping the very foundation of business operations. The Fourth Industrial revolution refined the business environment, providing MSMEs with the technological edge to access resources that were previously only available to larger firms. MSMEs benefitted from the flexibility of rapid adaptation from the use of technology for data processing to create a more dynamic business environment. Caribbean Export undertook two interventions in 2024 based in technology, the development of the Caribbean Digital Transformation Institute (CDTI) which assess the digital development of MSMEs and supports the building of digital capacity and the European Union Latin America and the Caribbean (EU-LAC), Digital Accelerator which explores the private sector connections between the three regions to work together to solve technical challenges with innovative solutions. As the Caribbean private sector stands at a pivotal juncture in its digital transformation journey, a strategic, multi-pronged approach is essential. While technology adoption is crucial, it must be accompanied by investments in digital skills training, trade facilitation, and infrastructure upgrades. Moreover, inclusivity must be a priority—ensuring that youth, women entrepreneurs, and traditionally marginalized groups have equal access to digital opportunities. For Caribbean MSMEs to fully capitalize on the benefits of digital trade, policymakers, development agencies, and private sector partners must work together to create an enabling ecosystem. Strengthening regional and international partnerships, reducing trade barriers, and fostering a culture of innovation will be key to driving sustainable growth and securing the region’s place in the global digital economy.

26 | CARIBBEAN EXPORT ANNUAL RESULTS REPORT 2024