1. travel
2. tourist destinations
3. caribbean

TRADEWATCH
The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 2 No. 10, October 2009
Learning how to benefit from the EPA
GTZ and InWEnt consult with BSOs on EPA implementation projects
A
four million Euro project likely to field six
long term advisers
in the region and focussing
mainly on services exports
was the subject of a recent
two-day workshop facilitated by the German Technical Cooperation (GTZ).
Focussing on sustainable
development, the GTZ is
owned by the German Government and promotes reform processes for political,
economic, ecological and
social development around
the world. Its objective is
to improve people’s living
Continued on page 2
IN THIS ISSUE:
• INTELLECTUAL PROPERTY
IN FOCUS:
Facing up to global IP
challenges PAGE FOUR
• Competitiveness:
GFI appreciative of
grant assistance PAGE FIVE
Caribbean Export’s
Information Collection
online PAGE SIX
• SECTOR SPOTLIGHT:
for consumers “organic
no longer enough
PAGE SEVEN
Seeking opportunities in the EU market: A working group at the GTZ meeting.
Workshops to focus on MRAs
C
aribbean Export Development Agency (Caribbean
Export) Caribbean Export
will partner with the National Coalitions of Services Industries and
the Office of Trade Negotiations,
CARICOM Secretariat to host workshops on Mutual Recognition
Agreements (MRAs) in five countries in November and December.
The purpose of these MRA workshops, being held in Barbados,
Belize, Jamaica, Saint Lucia and
Trinidad and Tobago, is to expose
national private sector representatives to the recent developments taking place in trade policy.
Article 85 of the CARIFORUM-EC
Economic Partnership Agreement
(EPA) states that “…the Parties
shall encourage the relevant professional bodies in their respective territories to start negotiations
no later than three years after
Continued on page 2
Tenders deadline
extended
Caribbean Export Development Agency
(Caribbean Export), on behalf of the
CARIFORUM Directorate, announces that
the tenders deadline for E-Commerce,
Agriculture and Fisheries and Investment
and Business Facilitation consultancies ad-
Caribbean Export’s Carlos
Wharton
vertised in the September Tradewatch has
been extended to December 1. For further
information, contact Manager, Operations
at Fax: (246) 436-9999 or Email: tender@
carib-export.com or visit the website at
www.carib-export.com. •TW
TRADEWATCH • The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 2 No.10 October 2009 • Page 1
TRADEWATCH
ENABLING ENVIRONMENT
Continued from page 1
conditions on a sustainable basis.
During the workshop, held October
26-27 in Barbados, the GTZ consulted
regional stakeholders on the final format
of a project which would support of regional and national institutions for the
implementation of the Economic Partnership Agreement (EPA) in the Caribbean.
Some 15 representatives of business
support organisations (BSOs) from 9
CARIFORUM Member States joined
officials of Caribbean Export Development Agency (Caribbean Export) in Barbados for discussions with Professor Dr.
Dieter Reineke and Andreas Edele of
GTZ who are finalising the document
for approval by the German Government. The project is expected to assist
the business community to better understand the opportunities within the
Economic Partnership Agreement (EPA),
strengthen BSOs in their delivery of
support to exporters and help these institutions to prepare project proposals
to access additional resources through
the global Aid for Trade programme.
Philip Williams, Executive Director of Caribbean Export complemented
Above: From left, Philip Williams, Executive Director of Caribbean Export; Pearlie
Drakes, Manager, Indigenous Services Exports, Invest Barbados; Michelle Hustler,
Project Manager, Trade in services, Barbados Coalition of Services Industries; and
Cornelis Alexander Dilweg, Representative of the Suriname Trade and Industry Association and Suriname Manufacturers’Association, in discussion at the GTZ meeting.
GTZ on their approach to consultative
project preparation and participants
were generally suppo rtive of the aims
and objectives of the proposed project
which is expected to begin operations
early in 2010 and last for three years.
A second workshop on October 28,
focused on the project “Capacity building to support EPA implementation in the
Caribbean”. This project, an initiative of
Capacity Building International Germany (InWEnt) will also be implemented in
2010 and will focus on Export Marketing
training for BSOs and small and medi-
Below: Christine de Barros Said, Senior Programme Manager, InWEnt at the meeting.
um-sized enterprises in the manufacturing sector. InWEnt, is a non profit organization focusing on human resource
development, training and dialogue.
Caribbean Export, the Caribbean Association of Industry and Commerce
(CAIC) and the Sir Shridath Rhampal
Centre (SRC) are collaborating with InWEnt on the project which is expected
to last for five years on a budget just under one million Euros. •TW
MRA workshops
Continued from page 1
entry into force of this Agreement in order
to jointly develop and provide such recommendations on mutual recognition, among
others, in the following disciplines: accounting, architecture, engineering and tourism.”
While the EPA is the first step in establishing a formal trade regime for service providers, MRAs must be signed to ensure that
the qualifications of regional service providers are recognised in the European Union.
The workshops will to expose participants
to the necessity of signing mutual recognition agreements for their respective services
to benefit from the preferences offered under
the EPA. They will also be given an overview
of the current negotiations between CARICOM
and Canada as it is anticipated that similar
arrangements will be required for their services exports to access the Canadian Market.
For further information on the workshops
contact Carlos Wharton at [email protected]. •TW
TRADEWATCH • The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 2 No.10 October 2009 • Page 2
SMEs: Survival strategies in
the global trade slowdown
TRADEWATCH
T
he breakdown in global demand is not only impacting
small and medium-sized enterprises in our region but Small and
Medium-sized Enterprises (SMEs) in
other parts of the developing world.
In the Caribbean some of the strategies being employed in the food sector
include paying closer attention to customer needs and increased promotion
to attract customers and influence their
product choices. Packaging sizes have
also been reduced, and, at some firms,
shorter working hours have been introduced to reduce unemployment and
production costs.
The Caribbean is not alone. At a recent seminar hosted by the International
Trade Centre (ITC), SME managers and
representatives from chambers of commerce from developing countries discussed how the crisis was affecting
them and how governments and multilateral institutions might be able to help.
The SME managers said the situation
had forced them to look at the entire
value chain and search ways to improve efficiency all along it. The session addressed the issue of access to
trade finance, including how to lower
its cost and enhancing its predictability.
In his presentation, Chinyemike Torti,
Chief Executive Officer of the Federation of Nigerian Exporters, pointed out
that, even before the crisis, trade financing in Africa was quite dismal. It was
difficult to get access to export financing from both commercial banks and
export agencies due to a lack of awareness, preparedness and risk mitigation
measures, along with credibility issues.
As a result, less than 3% of SMES in Nigeria had access to trade credit, and its
cost remained quite high. Mr Torti said
one could therefore understand why the
export potential of many economies in
Africa’s sub-Saharan region continue
to be hindered, a problem made worse
by the materialization of the crisis.
He said other factors affecting African
exports included the incomplete range
COMPETITIVENESS
At a recent seminar hosted
by the International Trade
Centre (ITC), SME managers
from developing countries
discussed how the crisis was
affecting them.
of facilities and services available to
traders and producers; weak efforts to
encourage savings and better liquidity of financial institutions; and poorly
adapted legislation and regulations.
Without the proper functioning of supporting institutional mechanisms, trade
finance by itself can be rendered useless.
Among other things, Mr. Torti proposed
strengthening south-south trade through
the creation of regional unions, the provision of substantial aid for trade from
multilateral agencies like World Trade
Organisation (WTO) and World Bank,
and the creation of mechanisms to reduce the cost of accessing trade finance.
Meanwhile, in his contribution to the
panel discussion, Oscar Sanez, President and Chief Executive Officer of
the Business Processing Association
in the Philippines said the Philippines
had become the second largest global
Business Processing Operations (BPO)
destination after India, with over six billion dollars in export revenue annually.
Mr. Sanez stated that despite of the
global economic slowdown, the Philippines economy had remained fairly resilient and was still expected to grow, albeit
at a slower rate compared to the previous
two years. And while the country’s resilience could be attributed to remittences
from abroad, it was also due to the fact
that the Philippines entered the global
recession from a stronger position than
it had with regard to previous crises having undertaken fiscal and other reforms.
Mr. Sanez said that the Phillip-
pines move into new ICT technology was mainly led by multinationals, which then train local SMEs. The
success of this sector despite the crisis could be the foresight that was
shown in June 2007, when “roadmap
2010” was launched to ensure that
growth of this industry was sustained.
Finally, Eddy Yeung, Chief Operating Officer, Textile Operations with
the CIEL Group in Mauritius said that
his company had taken a proactive approach in response to the economic
downturn, understanding that textile
products were no longer going to be a priority in the basket of goods for consumers, especially in Europe and the USA.
Mr. Yeung stated that the marketing
strategy adopted focussed on customer
satisfaction, giving customers’ more
satisfaction, which meant going above
and beyond what would have been expected, and being active in all pricing
decisions. The CIEL Group also worked
on increasing its trade with South Africa.
Designers were sent to the South African
market to meet their counterpart to develop products to the tastes of the market.
With regard to industrial strategy,
the group aimed at having a positive cash flow, improving productivity and competitiveness through benchmarking, and the right-sizing of mills
in order to produce as forecasted.
Mr. Yeung noted that SMEs which attempted to go to other regional markets,
often found that the continual need for
certificates and inspection, and the lack
of transparency, only complicated matters. Export customers were very stringent on quality and on-time delivery, and
claims and penalties applied impacted
on the results of the Group. Suppliers
were also taking a lot of risks due to the
fact that Credit Insurance for Export was
very hard to obtain and retailers were
very reluctant to open letters of credit.
The full article can be obtained from
the ITC website: http://www.intracen.
org/btp/wtn/newsletters/business_briefing.htm.TW
TRADEWATCH • The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 2 No.10 October 2009 • Page 3
Facing up to global IP challenges
T
he global IP system is in the
midst of a “long term trend of
steady intensification in the
use of intellectual property,” World
Intellectual Property Organisation
(WIPO) Director-General Francis
Gurry said recently.
He said an increasing number of
countries were seeking to establish
national innovation and intellectual
property strategies, and he appealed
to member states to find a balanced
way forward, noting that for WIPO to
retain its relevance in rule-making, “it
must be able to make rules both for
the latest advances in technology and
for traditional knowledge systems.”
Speaking at WIPO’s annual meeting in late September, Mr. Gurry
signalled the organisation’s eagerness to address challenges facing the global IP system. For the
first time, the meetings included a
high-level segment that brought together more than 40 ministers, who
shared their perspectives and national priorities on the role of IP in
economic growth and development.
In this regard, it is to be noted that
Caribbean Export, in partnership
with the Organisation of American
States, is in the process of identifying products that, because of their
TRADEWATCH
©
©
INTELLECTUAL PROPERTY
IN FOCUS
uniqueness and distinctiveness,
could benefit from the application
of such Intellectual property tools.
In late October, the OECS Secretariat, through its Commonwealth
Please take our survey
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survey results when we have
completed our analysis.
To
Secretariat sponsored Hubs and
Spokes facility, hosted a workshop
on intellectual property rights in
Roseau, Commonwealth of Dominica from October 28-29. The main
objective of the workshop was to
update government officials from
the OECS of the ongoing positions being taken under the World
Trade Organisation’s Doha Development Round of Negotiations in
the area of Intellectual property.
Participants discussed issues related to geographical indications,
the protection of biotechnical inventions and plant varieties and
the relationship between the WTO/
TRIPS Agreement and the Convention on Biological Diversity. The
workshop reinforced the importance
of the use of intellectual property as
a tool to preserve producers’ rights
in export markets. It was noted that
the Region could potentially benefit from coverage under the geographical indications framework.
TRADEWATCH
READERS’ SURVEY
download a copy of the survey
please visit http://www.caribexport.com/SiteAssets/TradeWatch%20Survey%20rev1.doc
or contact Cora Lowe at email:
[email protected]
you for your cooperation.•TW
Meanwhile, the International Trade
Centre has recently completed its intellectual property series. The series included topics such as licencing works
protected by copyright, intellectual
property issues to consider when building your company’s website; ways of entering an export market and how intellectual property can help; the essential
elements of trademark licences; determining if your company has intellectual
property assets and the main issues to
bear in mind when negotiating a licencing agreement. Further information can
be obtained from the ITC website http://
www.intracen.org/btp/wtn/newsletters/
business_briefing.htm.•TW
™
TRADEWATCH • The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 2 No.10 October 2009 • Page 4
Gom Food Industries’ billboard promoting its Sishado range of sauces (above left), and the product being shipped to market (above right).
Suriname’s Gom Food Industries
appreciative of grant asistance support
G
OM FOOD INDUSTRIES N.V.,
located at Mochalaan 3, ‘LHermitage
in the Republic of Suriname, produces three soy-based marinades and one barbeque topping, all
using pure vegetable products and
marketed under the Sishado label.
The company was founded by Mr.
and Mrs. van Gom, using a special recipe, who began operations in their own
home. The close family nature of the enterprise is reflected in the Sishado brand
name itself, a combination of Sinear,
Shaquille & Donovan, the names of the
first-born three grand children of co-proprietor and receipt holder Mrs. van Gom.
Caribbean Export Development Agency (Caribbean Export) has helped GFI in
its stated mission to make the transition
from a home craft business to a larger factory. GFI had previously made use of the
funding mechanism to develop a website.
Gom Food Industries, although growing consistently in its eleven years of operation, from a mere 600 litres in 1998
TRADEWATCH
COMPETITIVENESS
The need for a second kettle
was emphasized when the
company lost export sales due
to technical problems with
the originally-installed kettle.
to 180,000 litres in 2008, still could not
always meet market demand because of
its limitation in production capacity. Its
technical processes were limited to the
use of a cooking kettle implemented in
June 2008, which resulted in a production increase of approximately 25%.
The need for a second kettle was emphasized when the company lost export
sales due to technical problems with the
originally-installed kettle, as not meeting export market demand affected re-
Officials discuss the production system at Gom Food Industries (above left), now much
improved thanks to the new cooking kettle (above right).
lationships with distributors abroad.
GFI therefore decided to semi-automate production processes, making it the company’s chief objective
for 2009. It was felt that in doing so,
the company could gain a larger market share in the Netherlands and the
Dutch speaking Caribbean market, as
well as enter new markets in the English- and French- speaking Caribbean.
After receiving funding under Caribbean Export’s Grant Assistance Scheme,
GFI benefitted from the help of a technical consultant contracted by Caribbean
Export. As a result, supplier visits to the
Netherlands and Belgium were conducted by the general manager of GFI, and
the pump that was needed for installation and integration of the cooling tank
was purchased and installed as planned.
However, the visits to suppliers did not
result in the purchase of a semi-automated filling line, since the equipment did
not meet requirements. A visit was conducted in July with a follow-up in September to a supplier in Florida, USA, and
an order was made for an automated twohead piston filler, a semi-automated bottle capper and a semi automated labeler.
The funding requested and approved
for GFI under the Grant Assistance
Scheme was for an amount of EUR
€4,974, or 70% of the total project costs.
Offering a tip for future grant users, a
company spokesman says, “Make sure
that you have the original invoices and
payments for refund purposes. In the
e-mail age we are living in nowadays
offers, invoices and even payments are
done by e-mail, but these are not official
refunding documents!”•TW
TRADEWATCH • The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 2 No.10 October 2009 • Page 5
Empowering SMEs to access grant funding
TRADEWATCH
T
COMPETITIVENESS
he Caribbean Export Development
Agency (Caribbean Export) continued its grant proposal writing
workshops in Antigua and Barbuda, the
Bahamas, Saint Lucia, Suriname and Trinidad and Tobago in the month of October.
The aim of the workshops was to
provide Small and Medium-sized
Enterprises (SMEs) with information on how to prepare successful
grant proposals with a view to increasing the number of grants being
awarded to the various countries.
Participants were informed of European Union procurement procedures as this had implications for
the types of goods and services to
be procured under the Direct Assistance Scheme. The need for increasing the institutional capacity
in grant proposal writing was also
endorsed by the Bahamas Chamber of Commerce who will serve
as Caribbean Export’s focal point or
ness through increasing exports
of goods and
services
were
funded by the
European Union
under the 9th
Economic
Development Fund
(EDF) Caribbean
Trade and Private
Sector Development Programme
(CTPSDP). The
Direct Assistance
Scheme focuses
on
enhancing
From L to R: Philip Simon, Executive Director of the Chamber
CARIFORUM
of Commerce; Ms. Donnalee Bowe, Caribbean Export Board
firms’ ability to
Member for Bahamas; Kirk Brown, Senior Grant Advisor of
their
Caribbean Export and Hank Ferguson, Director, Trade Unit, increase
exports
and/or
Bahamas Chamber of Commerce.
potential to exinstitution on the ground providing port goods and services. Interested
assistance to firms that are inter- applicants can visit Caribbean Exested in applying for grant funding. port’s website or contact Kirk Brown
The workshops, part of Carib- ([email protected]) at Cabean Export’s ongoing support to ribbean Export for further informaSMEs to enhance their competitive- tion on how to apply.•TW
Caribbean Export’s information collection now online
With the click of a mouse, you can access
the vast information resources of Caribbean
Export Development Agency (Caribbean Export) available at www.carib-export.com/obic.
There, you will find an up to date collection of over 2,500 documents including reports and publications and presentations,
information relating to market access conditions, bilateral agreements, product/market
information, statistics, trade policy and standards. Classified by subject, author and title
the collection is accessible via our website.
Also on the website www.carib-export.com is our database of Caribbean Trade, Investment and Related
Organisations which provides profiles of institutions in 20 Caribbean countries including
Chambers of Commerce, Manufacturers’ Associations, Investment Promotion Agencies, Trade Promotion Or-
ganisations, Bureaux of Standards, Customs Departments,
Regional Organisations and Statistical Departments.•TW
TRADEWATCH • The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 2 No.10 October 2009 • Page 6
W
hile the results of recent research confirm the continuing
strong influence of low price
on a consumer’s purchasing decision,
they also show a shift away from some
familiar quality claims such as organic
and free-range. It is not that these terms
are no longer valued, rather, that newer
claims have captured the consumer’s
attention, according to U.S. researcher
Context Marketing.
The firm recently surveyed a national
(USA) sample of more affluent consumers to determine which issues-based
product claims are most important to
them when making specialty grocery
and restaurant menu decisions. The
research emphasized quality claims
having to do with safety and health,
as well as ethical considerations and
their role in the purchase decision.
It did not include nutrition claims
Consumers are paying closer attention
to quality food claims and are becoming increasingly savvy about evaluating
them. However, the quality claims that
consumers find most meaningful today
relate to food safety. Most important
M
For consumers, “organic”
is no longer enough
TRADEWATCH
SECTOR SPOTLIGHT
are claims that assure consumers that
the things they do not want to see in
food are not there, such as antibiotics
and artificial hormones. Food safety is
important to the majority of shoppers
and especially women who bring somewhat greater concerns to food choices.
Ethically-based claims also are important, and are frequently linked to
safety issues. Ethical behaviour is also
important for a company seeking to
gain consumer trust
and loyalty. Despite
the fact that most
consumers
report
that low price is the
main reason why they
purchase a product
in the supermarket,
60% of respondents
reported they are
willing to pay up to 10% more for
food that promises to be healthier, safer or produced to higher ethical standards. Another 12% said they would
pay more than a 10% premium.•TW
It’s simple: “Simple” simply sells
arketers such as Starbucks
are discovering that simple
sells, writes Bruce Horovitz
in a recent issue of USA Today.
The writer notes that there was a
two-thirds increase in the number of
new products using the words “simple” or “simply” in their product or
brand name from 2005 to 2008 according to Datamonitor. He quotes
one trend analyst as saying that
companies that offer products with
the fewest number of ingredients
stand to garner gains in 2010.
Mr. Horowitz predicts that while
2009 was all about buying products at
the lowest prices, marketing next year
will increasingly stress less as more,
as in fewer parts, additives or ingredients. And he notes that, while the trend
is taking hold in many product categories, including health and beauty
items, nowhere is it more apparent than
in the food and beverage categories.
Talking about how few ingredients
your product contains can make products mass-produced in factories sound
simply healthy or as fresh as something
made in your own kitchen, says Mr.
Horowitz, quoting a product analyst at
Datamonitor. In fact, says Lynn Dornblaser, a trends analyst at Mintel, which has
tracked decreases this year in the average number of ingredients in 19 product categories including dairy products,
processed meats and even pet foods,
companies that offer products with the
fewest number of ingredients compared
with rivals stand to win big in 2010.
Mr. Horowitz notes that consumers,
concerned by numerous food scares
and mounting worries about the healthiness of a ingredients commonly used in
processed foods, are demanding cleaner food labels: no artificial food colorings (some of which have been linked
to hyperactivity in children), no chemical additives (such as MSG) and no
chemical preservatives (such as BHA).
In 2010, products that tout simplified labels could be more sought
after than those clinging to the
formerly hot buzzwords “organic” or “natural,” says Dornblaser.
At its simplest, simple sells.
“The food business has always been
ingenious at turning any criticism into a
new way to sell food to us,” says Michael
Pollan, author of In Defense of Food: An
Eater’s Manifesto. The best-selling book
popularized the notion of buying only
foods with five or fewer ingredients. “As
soon as you stress fewer ingredients,
you’re implying that the food is healthy.”
(PH:384). Additional information can
be found at http://www.usatoday.com/
money/industries/food/2009-10-27marketers-simple-sells_N.htm •TW
TRADEWATCH • The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 2 No.10 October 2009 • Page 7
Developing your export plan
W
TRADEWATCH
hy Plan? If you plan your export venture with care and
thoroughness, you have a
better chance of success in your target markets and the opposite is also
true. Financial institutions and other
lending agencies know this and will
not provide funds to a business that
lacks a well-developed export plan.
Before you can develop your export
plan you need of course a current and
comprehensive business plan that reflects your domestic operation. If you
have one but it’s out of date you have
to review and renew it. If you don’t
have one you need to create one.
You can then move to create your
export plan. It identifies your target markets, export goals, necessary
resources and anticipated results.
In the introduction, you should provide information on the history, location and facilities of the business, its
vision and mission statements. In addition, the goals and objectives of the
organization, an overview of the international market and the purpose of
the export plan should be included.
As to organisational issues, ensure
that you have buy-in from management
and that your employees know what
they need to do to meet your exporting objectives. Take into account how
the relationship between exporting and
other operations will work in harmony
and include any company experience in
or knowledge of exporting, strategic alliances and labour market issues.
Products and services: When describing the key features of your products and
services, pay attention to the needs and
wants of your export target markets. For
example, consider adaptation and redesign required to address cultural differences and foreign consumers’ needs,
how language barriers may impact on
labelling requirements, and buyers’
preferences, such as colours and packaging that appeal to foreign buyers.
In addition, you should also consider
how your product may be impacted by
engineering standards and measurements, geographic and climactic conditions - such as topography, sea level
and humidity - that may affect the per-
HANDS ON
In the Hands On
section of our May
TradeWatch we
looked at the “Essential Elements
of a Business Plan. In this edition, we
look at developing and export plan.
formance of your product, and the comparative advantage of your product over
domestic brands in your target market.
Market overview: This shows that
you understand your market and do
adequate research. Keep in mind that
commerce is a very “cultural” activity;
customs such as religion and language
have a major impact on how people
do business. You should therefore focus
on the factors such as the political and
economic environment, competitors,
the size of the market and key market
segments, purchasing processes and
buying criteria, descriptions of industry
participants, tariff and non-tariff barriers,
industry trends and other market factors,
and market outlook.
Market entry strategy: Clearly indicate how your company plans to enter
the market. For instance, will you use
a foreign distributor or sell directly to
end-users? You should also describe
your promotional strategies and sales
processes. State any strategic alliances
that will help you enter your market,
whether they will help you handle logistics, distribution or promotion. You
can include a description of your target markets, an analysis of your competitive position, information on product positioning, your pricing strategy
and terms of sale, a distribution strategy, promotion strategy, and description of intermediaries and partners.
Regulatory and logistical issues: Many
countries are trying to standardize their
laws and regulations to encourage international trade, but discrepancies still
exist. Be sure to consider intellectual
property protection, modes of transportation and cargo insurance, trade documentation requirements, health and environmental regulations, particularly in
sectors such as food products, prescription drugs and chemicals, and language,
labelling and consumer protection laws.
Financial plan: Back up your information with a strong financial plan, particularly in areas such as export financing.
Here you should assess the potential costs
of exporting, as well as your expected
revenues. You should therefore develop
an export budget, which includes such
aspects as product adaptation and redesign costs, consulting fees, marketing
costs, travel expenses, distributor commissions, logistics-related costs and all
other costs that will affect your bottom
line. You should also show your financing options, state how you will handle
the costs of expanding, purchasing
equipment and streamlining your operations, demonstrate how you will collect
payment, and assess your cash flow and
working capital in the context of longer
sales cycles and longer payment terms.
Risk factors: Doing business in lesser
known territory with different rules and
regulations inevitably poses more risk
than operating at home. Show lenders
that you’ve addressed risk by providing a
customer credit check and obtain insurance for your sales. In your export plan,
you should discuss market risks, such
as economic instability and political
changes, and credit and currency risks.
Implementation plan and timetable:
It’s a good idea to reiterate your objectives and show how you’ll meet them
within a specific timeframe. Be sure
that you develop both short-term objectives (3-9 months) and longer term
objectives (1-2 years), show what you
intend to achieve in sales demonstrate
how you will evaluate and measure
your results against your objectives, and
provide an action plan and outline responsibilities of specific team members.
Source: www.exportsource.ca. Next
in the series we will look at identifying
your target market.•TW
TRADEWATCH • The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 2 No.10 October 2009 • Page 8
PUBLICATIONS to note
Study: Informal employment
curbs trade benefits for
developing countries
A joint study from the International Labour Organization and the WTO
has found that high incidence of informal
employment in the developing world suppresses countries’ ability to benefit from
trade opening by creating poverty traps for
workers in job transition.
“Trade has contributed to growth and development worldwide. But this has not automatically translated into an improvement
in the quality of employment. Trade opening needs proper domestic policies to create good jobs. This is all the more evident
with the current crisis which has reduced
trade and thrown thousands into informal
jobs,” said WTO Director-General Pascal
CARIBBEAN EXPORT
PUBLICATIONS
EXPANDING CARIBBEAN BUSINESS IN
THE GLOBAL MARKETPLACE
This strategy document seeks to inform
stakeholders of the current priorities and
direction of the Agency and represents the
first step in the process to develop a strategic plan for Caribbean Export. Readers are
invited to read and provide feedback to us
on this document. Visit our website www.
carib-export.com to download a copy of the
strategy document.
REPORT ON THE GUIDELINES FOR TECHNICAL REGULATIONS AND STANDARDS
IN THE EUROPEAN UNION MARKET FOR
ARTISANAL PRODUCTS
This report was prepared for Caribbean
designers and artisans as part of the Onsite
Caribbean 2 Project, which is aimed at developing unique products using a merger of
Caribbean-based design talent interfacing
with artisanal producers.
The report summarises legislative and nonlegislative requirements and aims to familiarise small and medium enterprise (SMEs) of
the market access requirements for the EU
market. To obtain a copy of this publication
contact Cora Lowe at Email [email protected] or click below to download the
document.
OVERVIEW OF THE CARIFORUM-EC ECONOMIC PARTNERSHIP AGREEMENT
The publication provides information on
the main provisions and operations of the
Lamy. Press release: http://www.wto.org/
english/news_e/pres09_e/pr574_e.htm.
For more information, please contact the
Department of Communication and Public
Information of the ILO at communication@
ilo.org, tel. +4122/799-7912.
ITC launches new series on trade
policy consultative mechanisms
Readers interested in monitoring the
consultation mechanisms ensuring privatepublic sector participation in trade policy
matters might be interested in a new series
of case studies which the ITC is presently
publishing. Consultative mechanisms for
three countries have already been published: China, Canada and Brazil. Further
information can be obtained from the ITC
website http://www.intracen.org/btp/wtn/
newsletters/business_briefing.htm. •TW
Editor’s note: Every issue of
TradeWatch will highlight Caribbean Export’s publications,
all of which are available on
our website www.carib-export.
com. Use this information to
select the publication that is
right for your business’ needs.
CARIFORUM-European Community (EC)
Partnership Agreement which was signed in
October 2008 and came into effect through
provisional application in December, 2008.
To request your copy of this publication please contact Cora Lowe, Research
and Communications Officer at Tel: (246)
436-0578, Fax: (246) 436-9999, or E-mail:
[email protected] or download from
our website www.carib-export.com.
MARKET BRIEF SERIES
The available titles in the Market Brief Series are Handicraft, Speciality Foods, Furniture, Engineering Services, Design Services
(Fashion, Graphic, Interior Design, etc.),
Management Consulting Services and Health
and Wellness Services.
The series provides opportunities for
small- and medium-sized enterprises (SMEs)
in the Caribbean Single Market and Economy
(CSME) and is the result of a joint effort between Caribbean Export and Trade Facilitation Office Canada. For further information
on the market briefs contact Cora Lowe at
E-mail: [email protected] or visit the
website at www.carib-export.com.•TW
TRADEWATCH
NOTICES
UNITAR’s eLearning Courses
for November and December
The United Nations Institute for
Training and Research (UNITAR) announces its e-Learning Course Calendar. Below are the courses for November – December, 2009:
• Capital Market Development &
Regulation - Advanced Course (2
November to 11 December 2009)
• Fundamentals of the Foreign
Exchange Market (2 November to 4
December 2009)
• Negotiation of Financial Transactions (2 November to 11 December
2009)
• Legal Aspects of Public Debt
Management (2 November to 11
December 2009)
• Basic Course on Public Debt Management (2 November to 11 December 2009)
• Fundamentals of the Equity Market (2
November to 4 December 2009)
• Fundamentals of Risk Management (9
November to 4 December 2009)
• Negotiating for Conflict and Dispute
Resolution (9 November to 11 December
2009)
• Fundamentals of Corporate Governance (16 November to 11 December
2009)
• International Negotiations: Practical
Skills and Techniques (16 November to
11 December 2009)
Registration procedure, fees, and
other course details can be obtained
from the website http://www.unitar.org/
pft/elearning or Email dfminfo@unitar.
org. •TW
TRADEWATCH • The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 2 No.10 October 2009 • Page 9
Global outlook for FDI and new
trends in today’s investment climate
I
n the wake of the global credit crisis,
governments acted swiftly to counter
the economic recession effects by
public stimuli and government-sponsored
companies.
According to Dixie Rampersad, Senior
Investment Promotion Advisor, Caribbean
Export Development Agency (Caribbean
Export) “Foreign Direct Investment (FDI)
attraction continues to be important and
the focus seems to be infrastructure investments, research and development, innovation and new technologies and more public/private investment.”
Mergers and acquisitions seem to be the
trend particularly in cross border activity.
Companies are generally looking at smart
businesses and new technologies emerg-
Caribbean Mission presenting
Brand Jamaica to the region
The Jamaican Manufacturers’ Association, Jamaica Exporters’ Association and Jamaica Trade and
Invest is coordinating a mission to Barbados, Saint
Lucia and Antigua and Barbuda on November 8-15.
The aim is to showcase quality Jamaican products and services including processed foods and
beverages, wellness products, furniture, pet bottles, art and craft, clothing, leather footwear, storm
shutters, chemical products and logistic support
and shipping services.
Product demonstrations, displays and business
matchmaking session will be held on November
9 at the Grand Barbados Beach Resort, Barbados;
November 11 at the Rex St. Lucia and November
13 at the Heritage Hotel, Antigua and Barbuda. For
further information contact: Andrea Leslie, Membership Services Coordinator, The Jamaica Manufacturers’ Association Ltd., Tel: +1(876) 922-8880-3;
922-8869, Fax: +1(876) 922-9205, Email: jma@
cwjamaica.com
6th annual Femmes, Création
& Production 2009 in Haiti
The 6th annual trade fair “Femmes, Création & Production 2009” celebrating Vital Voices’ 10th anniversary
in Haiti, will be held on November Friday 13-15, 2009 at
the Karibe Convention Center , Petion Ville, Haiti. Haiti’s
major annual business event will showcase high quality
crafts, gifts, fashion and home décor, accessories, aND
herbal and spa products.
TRADEWATCH
INVESTMENT PROMOTION
ing. Joint innovative centres are new trends
for partnerships and green projects are also
emerging as new types of investment that
are getting a lot of attention from the donor
agencies and emerging markets are considered the growth markets of the world.
Caribbean Export will continue to
facilitate and support the collaboration of regional Investment promotion Agencies and promote the region
as a premier destination of FDI.•TW
TRADEWATCH
REGIONAL EVENTS
The main goal of this year’s event is to showcase the
collaboration of artisans under the theme of “Yon Lakou
– Yon Pwodwi”, which means “One Village – One Product.” The collaboration reflects both local traditions and
culture and contemporary designers’ creativity. Last year,
over 8,000 visitors and international buyers attended the
trade fair. For more information about the event visit
www.fed.ht.org.
InvestSVG sends trade and
investment mission to the UK
Invest SVG, St. Vincent & the Grenadines’ investment
promotions agency, with funding from the European
Union, is leading a delegation of representatives from
pillar organisations to the UK from 9th to 13th November, and is keen to meet with UK businesses, trade and
industry associations and chambers of commerce who
are interested in learning about the opportunities, and
in partnering with local businesses. The delegation will
also be attending World Travel Market to meet with travel
and tourism stakeholders at this event.
Executive Director, Cleo Huggins, said, “We are on a
mission to create and facilitate cross-border opportunities between our respective market players. We are proactive in building on the long history of trade and investment relationships between the UK and the Caribbean
that will be mutually beneficial.” For more information,
contact Gus Franklyn-Bute, email: [email protected]
or mobile: 07912 216 426. •TW
TRADEWATCH
BUSINESS OPPORTUNITIES
TRADE POLICY ADVISORS WANTED
The European Commission (EC), the Commonwealth
Secretariat (ComSec) and Organisation Internationale
de la Francophone (OIF) have recognized the scale of the
trade capacity development challenge faced by developing ACP member countries and, through dialogue and
with the support of the ACP Secretariat, have concluded
that a joint partnership initiative called the Trade Policy
Formulation, Negotiations and Implementation Project
is a sound approach to addressing these challenges and
constraints. The Commonwealth Secretariat will be responsible for the implementation of the project in ACP
member states of the Caribbean, Pacific, Eastern and
Southern Africa regions and with the African Union (AU)
while the OIF will be responsible for the implementation
of the project in the regions of West and Central Africa.
In order to achieve the above, the Project will contract
a team of Regional Trade Policy Advisors (RTPAs) and
regionally and nationally-based Trade Policy Analysts
(TPAs). All RTPA duties will be planned and carried out
in co-ordination with regional integration organisation
(RIO) Secretariat officials. The RTPAs’ annual work programmes will be approved by the Commonwealth Action
Team (C-AT). Contact for Applications: Mrs. Puja D Sharma, ([email protected]), Phone: +44-207747-6531. Closing Date: 12 Nov 2009. This invitation is
open to independent experts who are nationals of Commonwealth member countries. Terms of reference can
be downloaded from http://www.thecommonwealth.
org/Shared_ASP_Files/GFSR.asp?NodeID=214646&Attr
ibuteName=File
University of Miami Resident Fellow
ProgramME
The Center for Hemispheric Policy at the University of
Miami is seeking applications for its new Resident Fellow
Program. The applicant who is selected will be invited to
spend the spring 2010 semester at the center and participate in all the center activities. Within the resident fellow’s area of expertise, it is expected that the fellow be a
speaker at several center programs, as well as write or cowrite policy paper(s) in that area. The fellow will give a
limited number of guest lectures to students in university
classes, focusing on Latin America and the Caribbean.
The competition is open to journalists, political analysts, economists and scholars from Latin American and
Caribbean countries, and Canada, with expertise in Latin
American and Caribbean policy issues.
Applicants must speak and write English fluently, and
satisfy immigration regulations for temporary residence
in the United States. Application requirements include a
C.V. or a description of background and qualifications, as
well as complete contact information, a short writing
Continued on page 11
TRADEWATCH • The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 2 No.10 October 2009 • Page 10
T
rade
watch
EVENTS
NOVEMBER
WIPO – Caribbean Export Regional
Workshop on Intellectual Property as
Marketing Tools for SMEs
November , 2009
The seminars will be held in Dominican
Republic, Belize, Grenada and Trinidad & Tobago. For further information
contact: Alan Ramirez, Deputy Executive
Director,
Caribbean Export, Tel: +1 (809) 531-2411,
Fax: +1 (809) 473-7532, Email: alan.
[email protected]
41st Annual Monetary Studies
Conference
“Building Financial Sector Resilience
in the Caribbean”
November 10 – 13, 2009
Georgetown GUYANA
For more information please contact:
Caribbean Centre for Money & Finance
(CCMF)
Tel: (868) 645-1174/1610
Fax: (868) 645-6017
Email: [email protected]
Meeting of Health and Wellness
Leadership Circle
November 11 – 12, 2009
For further information visit
www.carib-export.com or contact:
Tonika Sealy
Caribbean Export Development Agency
Tel: +1 (809) 531-2411
Fax: +1 (809) 473-7532
Email: [email protected]
Commonwealth Business Forum 2009
Partnering for a More Equitable and
Sustainable Future: The Commonwealth and the Americas
November 23 – 26, 2009
Port of Spain, TRINIDAD AND TOBAGO
Website: www.cbcglobal.org
Registration closes on Sept. 30, 2009
Contact: Ms Carol Ayoung
Chief Executive Officer
Caribbean Association of Industry and Commerce (CAIC)
Ground Floor, 27A Saddle Road
Maraval, Trinidad and Tobago
Tel: (1-868) 628-6859
Fax: (1-868) 622-7810
E-Mail: [email protected]
[email protected]
Commonwealth Heads of Government
Meeting (CHOGM) 2009
November 27 - 29, 2009
Port of Spain, TRINIDAD AND TOBAGO
Website:http://www.chogm2009.org/
December
18th Caribbean Media Exchange on
Sustainable Tourism (CMEx)
December 3 – 7, 2009
Coco Palm’s Conference Centre
Rodney Bay Village, SAINT LUCIA
The 2nd Caribbean Design Network
Meeting
December 9-10, 2009
Dominican Republic
For further information
Contact: Veona Maloney
Caribbean Export Development Agency
tel: (246) 436-0578
e-mail: [email protected]
CARICOM-DR Business Forum
December 11, 2009
Santo Domingo, Dominican Republic
For further information contact:
Alan Ramirez, Deputy Executive Director
Caribbean Export Development Agency
tel: +1 (809) 531-2411
Fax: +1 (809) 473-7532
email: [email protected]
Caribbean Export Steering
Committee Meeting
December 16, 2009
Bridgetown, Barbados
Email: [email protected]
23rd Caribbean Export Board
of Directors Meeting
December 17, 2009
Bridgetown, Barbados
Email: [email protected]
Other events
WORLD TAVEL MARKET 2009
“2010 Year of Action
and Soft Adventure”
November 9 – 12, 2009
Excel Exhibitions and Conventions Centre
Docklands
London, ENGLAND
For further information please contact Mrs.
Betty Lewis-Browne, Marketing Executive
Barbados Tourism Authority
Tel: (246) 467-3659
Email: [email protected].
BUSINESS OPPORTUNITIES web: www.craftimagedesigns. com.
Continued from page 10
sample in English; two recent reference
names, with affiliations, email addresses
and telephone numbers.
Please submit the above information
to [email protected] by
November 15, 2009. For further information contact: Juanita Lynch, U.S. Embassy,
Bridgetown, +1(246) 227-4102
Web & graphic design solutions
We offer economical web design solutions for businesses on a budget, great
prices, designs and services. Ask about
our specials for small businesses and non
profit. Contact: Rose Hunte (Barbados),
CraftImage Designs (1 246) 231 8826.
email:[email protected],
2009 EFFoST Conference ‘New challenges in food preservation
November 10, 2009
Budapest, HUNGARY
www.effost-conference.elsevier.com
3rd Halal Expo 2009
Dubai and Gulf Halal Forum
November 10 – 12, 2009
Madinat Jumeirah
T
rade
WATCH
watch
ABOUT US
We are very interested in your feedback.
Please email your comments to:
[email protected].
All material copyright © 2009 Caribbean Export
Tradewatch is a publication of the
Caribbean Export Development Agency Head Office: Mutual Building,
Hastings Main Road,
Christ Church, BB15154, P.O. Box 34B, Brittons
Hill Post Office, St. Michael, BB14000, BARBADOS
Tel: +1(246) 436-0578 Fax: (246) 436-9999
E-mail: [email protected]
At Gail’s Graphic Designs, we craft influential and comprehensive brand directives with our unique blend of design services. Whether you are just starting out
on building your business and your brand
or in need of a complete image overhaul,
we can help your company identify,
develop, and visibly communicate your
marketing message. Based in New York,
Gail’s Graphic Designs offers a broad spectrum of creative design and communication solutions to assist in the marketing
of your product or services. Contact Gail
Lewis at 917-873-9660, [email protected] or visit Gail’s Graphic Designs at
www. gailsdtp.com, www.gailsdtp.com/
blog. •TW
Dubai, UNITED ARAB EMIRATES
For inquiries, please contact:
Ali Ahmed Hassan, Project Manager
Orange Fairs and Events, P. O. Box 111164
Dubai, United Arab Emirates
Tel: +971 4 2988144
Mobile: +971 50 7354073
Fax: +971 4 2987886
Email: [email protected]
Website: www.worldhalalexpos.com •TW
CARIBBEAN EXPORT’S KEY RESULT AREAS
AND GOALS
• Fostering an enabling environment –
for trade and investment within the region
through regional integration, cooperation and
advocacy initiatives designed to position the
region more effectively in the world economy.
• Enhancing Competitiveness - Increase
the competitiveness of firms in CARIFORUM
countries in selected sectors through investment, management and product development, market expansion and export diversification.
• Promoting Investment - Promote the Caribbean region as a prime destination for intra
and extra-regional investment.
• Strengthening Institutional Capacity
and Networking - Enhance the capacity of
public and private sector BSOs, particularly
sector associations, trade promotion organisations and investment promotion agencies, and
support the development of vibrant Caribbean
business networks to improve services to clients. • TW
Sub Regional Office:
Calle Carlos Lora No. 9, Ensanche Los Restauradores, Santo Domingo,
DOMINICAN REPUBLIC
Tel: +1 (809) 531-2411 Fax: +1 (809) 4737532 E-mail: [email protected]
Website: www.carib-export.com
TRADEWATCH • The Official E-Newsletter of the Caribbean Export Development Agency • Vol. 2 No.10 October 2009 • Page 11