Caribbean Export OUTLOOK 3rd Edition

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Trade & Export Hot Spots

Another intra-regional collaboration, which resulted in sustainable export, is the success of the Trinidad & Tobago firm Rotoplastics in the FCORs markets. By leveraging its strategic partnerships with distributors, the firm was able to align its marketing campaign to the specific needs and characteristics of each individual French Caribbean market. It required having in-depth and intrinsic knowledge of the consumers’ habits and tastes. By sustaining a strong partnership with the right experts who were able to analyse the French markets, they not only successfully increased sales but more importantly were able to consolidate shipments, which also allowed for a reduction of the expected costs. Recent experiences have indicated that perhaps the greatest hurdle to increasing exports to the EU relate to product standards and regulations. These challenges can be reduced through gathering of market intelligence and the preparation of innovative and sound export strategies. The FCORS have the requisite knowledge for greater access to the European markets. A number of services firms and MSMEs are now specializing in providing Business Facilitation Services (translation/B2B meetings/logistics/ legal requirements: licenses-certification-contracts) as well as customized market research, partner search, single company promotion, access to testing facilities to meet EU standards as well as support for applying for licenses and Certifications in the context of a wider Market Entry Strategy. In conclusion, there are many opportunities for the countries in the Caribbean to learn from each other and to collaborate more closely in developing innovative export products and services thus increasing trade. A combined strategy including technical assistance, research and innovation, education and training is key to further developing trade between the FCORs and CARIFORUM. There is a need for better coordination and collaboration between all the relevant stakeholders including government, private sector, national and regional business support organizations, regional agencies, and academia to solidify and build linkages. While the opportunities exist, it is through the facilitation of networking opportunities and collaboration that ideas can be created. example of successful

The FCORs have the requisite knowledge for greater access to the European markets.

Endnotes 1. Source: Doctorate research Université des Antilles –Laboratoire: Centre d’Analyses Geopolitique de la Caraïbe (CAGI) 2. Tableau de l’Economie Francais – Institut National de la Statistique et des Etudes Economiques 3. Private Sector Development, https://ec.europa.eu/europeaid/node/679_hr