Trade Watch V8 No 3 July 2014

FOSTERING PARTNERSHIPS

9th Meeting of the CARIFORUM-FCORs-OCTs Task Force on Trade and Investment

Caribbean Export’s vision for a self-sufficient and globally competitive private sector is one which is inclusive of all the region’s resources, regardless of the territories from which they originate. In order to realize this vision, the Agency continues its efforts at the economic integration of the CARIFORUM territories which it represents with the FCORs and OCTs. As such, Caribbean Export convened its 9th Meeting of the CARIFORUM-FCORs-OCTs Task Force on Trade and Investment in Grand Cayman from June 26-27, 2014. The meeting, which brought together members of government and leaders in the private sector, followed a highly successfully business forum which provided a platform for CARIFORUM, FCOR and OCT private sector firms to engage in business to business meetings, thus stimulating exchanges on trade and investment amongst the territories. These exchanges were crucial to the strengthening of the linkages which, up until now, have been lacking amongst the territories. Despite their close proximity, and the existence of a number of trade tariffs and agreements, most significantly the EPA, commerce and investment among the territories has remained largely unexploited. This lack of development may be due to the fact that a number of barriers to trade still exist among the territories. The forum presented the opportunity for members of the private sector to discuss these challenges and to build on the linkages made during the business forum. The Agency also led discussions on the establishment of a Technical Management Unit (TMU). This unit would provide assistance to exporters from CARIFORUM States that wish to enter the French Caribbean Market and also to assist French

David Gomez, Manager Trade and Export Development, Caribbean Export delivers remarks during the Task Force meeting

Caribbean Exporters with exploring trade opportunities within the CARIFORUM region. Regional BSOs are already highly instrumental in this market research and export preparation process and have already begun assisting CARIFORUM firms to export to FCORs. However, Caribbean Export is aware that they face challenges in doing and therefore the TMU is intended to address issues such as the provision of market research and intelligence in doing business in the FCORs; assist with meeting language and cultural requirements; identify key contacts and the coordination of trade fairs and market visits to facilitate buyer/seller contacts. (TW)

4 Tradewatch • The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 8 No. 3 July 2014