Caribbean Export OUTLOOK 3rd Edition

Trade & Export Hot Spots 44

...the current greatest export products for CARIFORUM are found in agricultural and seafood products, agro-processing (sauces, spices, condiments, jams, jellies, etc.); and paper and paperboard products.

exchange. The French Law n° 2016-1657, which entered into force onDecember 5 th , 2016 introduced amendments with regard to the regional cooperation legislative framework. These amendments grant the ability to local representatives from the French Caribbean Islands to negotiate international treaties as well as to join regional organisations. Allowing for greater local autonomy, the recently proclaimed law could stimulate deeper and stronger economic exchanges specifically as it relates to private sector development. An important and obvious starting point is the region’s abundant supply of skilled labour and creativity. The digital revolution has transformed the regional economies and societies at themost basic levels.The EuropeanCommission notes that, “as a driver of inclusive growth and job creation, responsible for 84% of GDP and 90% of jobs in developing countries, the private sector is ideally placed to improve the lives of the poor and deliver on the promise of sustainable and socially inclusive economic development”, and that “private sector development plays a key role in creating economic growth, employment and improved living conditions”.

In the current global circumstances, prospects for economic growth in the Caribbean will depend on the ability of the private sector to increase its productivity and competitiveness. The regional cooperation efforts can and should bolster private sector collaboration. There is a need to encourage the creation of indigenous local content and leverage the potential of the Internet as a platform for business and innovation. The increasing success of the Dennery segment also known as “Lucian Kuduro” is a concrete example of the potential of Caribbean societies to not only use the internet for entertainment and consumption of content, but also as a tool to create content and drive innovation. A blend of dancehall, soca and Zouk, Dennery Segment described by 'musicologists' as an indigenous type of soca, began in the 1990’s with strong Martinican influence not only as it relates to the beats of the music but was also sustained and distributed through this particular island. The success of this new St. Lucian music genre on the Martinican market resulted in its popularity among the Martinican diaspora located in mainland France but also among other French Caribbean entities such as Guadeloupe and French Guyana.

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