Implementation of the 10th EDF Regional Provate Sector Programme

PROMOTING TRADE AND EXPORT DEVELOPMENT

PARTICIPATION IN CARIFORUM-EU BUSINESS FORUM BY COUNTRY

during the B2B sessions; these included CARIFORUM manufacturers, distributors, and buyers; European manufacturers,distributorsandbuyers; agents/promoters; festival organisers; and higher education institutions. Six firms have also secured contracts, or traded with these contacts within the last six months. In terms of immediate tomedium-term outcomes, four beneficiary firms were able to identify new regional markets for export, and six firms were able to identify new international markets for export, with 50% of this total entering these markets for trade. New markets entered include the Caribbean (Barbados, Cuba, Haiti, Jamaica, Saint Lucia, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago), Europe (France, Germany, Hungary, Norway, United Kingdom) Panama, and the United States. Results include five firms seeing an increase in sales on entering these markets, while eight firms have generated increased export sales overall during the last six months ranging from US$1,500 - $2,500 or higher. Sixty-four percent (64%) of beneficiary firms further noted that the B2B sessions aided them in taking advantage of opportunities offered by the CARIFORUM-EU EPA in a number of areas including gaining market intelligence data, market entry requirements, and expanding their networks among others. Overall, an average of 28% of SME participants have been able to secure contracts with European firms following participation in both Forums.

NO. OF PARTICIPANTS

COUNTRY

Antigua & Barbuda

6 8

Bahamas Barbados

21

Belize

4

Dominica

11 22

Dominican Republic

Grenada Guyana

5

10

Haiti

8

Jamaica

69

St. Kitts & Nevis

4

St. Lucia

15

St. Vincent & the Grenadines

8 7

Suriname

Trinidad and Tobago

32

Africa

6 4

North America

Europe Pacific

71

7

manufacturing, music, agro-processing and higher education sectors; the importance of creating regional synergies in order to market the Caribbean adequately to Europe and the value of intra-regional trade to boost the economic development of the Caribbean. During the 2015 hosting of the Forum, B2B meetings and Business Development Café’s were hosted for SME participants. A review of participation revealed that 71% of the B2B beneficiaries noted that their objectives for attending the event were met. As a result of participation, two regional firms have been able to secure contracts with an estimated combined value of US$290,000. Additionally, 85% of participants were also able to establish informal contacts with at least three firms other than those they intended to meet. Eighty-nine percent (89%) of participants cited that the Business Development Café met their objectives. In particular the consultations with experts and networking opportunities received a rating of excellent from 96% of participants. Outcomes of a 6-month follow-up assessment revealed that 92% of respondents (13 firms) were able to establish a combined total of 292 business contacts

66