2024 Annual Results Report

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..”

8 | CARIBBEAN EXPORT ANNUAL RESULTS REPORT 2024