CARIFORUM and UK EPA Study

Furthermore, given the overall decline in CARIFORUM’s exports of Financial services to the UK, from US$14 million down to US$11 million over the period of assessment, there appears to be an overall loss of competitiveness by the region in that destination market. This, however, may be attributable to the loss of correspondent banking relationships and the effect of blacklisting and de-risking on the Region’s banking and financial services sectors, particularly over the last five years. In the remaining sectors, Dominica, followed by Guyana, was determined to be the most competitive in the Telecommunications, Computer and Information services category, with the top five competitors all registering a positive trend in their respective RRCAs, suggesting that this is another potential growth area for the region. Jamaica was also the most dominant competitive exporter of Personal, Cultural and Recreational Services , followed in distant second by the DR, and may be due to its potentially stronger cultural offerings and related attractiveness of its tourism product, for which this sub-sector is a key component. Saint Kitts and Nevis was the overall most competitive exporter in the Government Goods and Services category, though Suriname showed much stronger competitiveness during the first three years of the period of assessment, as did Guyana in 2016 and 2017. The situation was very mixed in relation to the category known as Charges for the use of Intellectual Property , as Guyana was exceptionally dominant during the first five years of the period, with RRCA values of up to 44, while Barbados was most dominant during the years 2013 to 2016, though with RRCA values not exceeding 11. The DR was also the most dominant competitor, being the only exporter of Manufacturing Services on Physical Inputs owned by the UK , which was also the case for Barbados in relation to its exports of Maintenance and Repair Services and Construction services , which, in the case of the latter, appeared to have only been a one-off transaction. Of these remaining sectors, only the export of Government Goods and Services appeared to hold any potential for export expansion, while the Charges for the use of Intellectual Property appeared to

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