THE CARIBBEAN
Countries in the Caribbean region have unique trade
challenges. Despite their proximity to the large markets of the United
States and Canada, and free access to numerous products in North
America and the European Union, Caribbean exporters face significant
hurdles. The small size of the countries, high production and
especially transport costs all hamper their export competitiveness.
ITC is working to address these challenges by supporting national
export strategy development, capacity building for trade support
institutions and companies and through the facilitation of a dialogue
on the implementation of a regional strategy.
The Economic Partnership Agreement (EPA) signed recently by
CARIFORUM countries with the European Union opens new prospects for
cooperation and trade development. This is the first time that
Caribbean countries are participating in a reciprocal trade
liberalization scheme with a major and economically stronger trading
partner.
There are at the same time several market niches waiting to be
exploited. This is true especially for creative enterprises if they
could obtain technical assistance in the fields of market research,
design, standard certification, packaging and product adaptation to the
requirements of selected target markets and tourists visiting the
region. The creative industries sector is highly differentiated across
countries and across sub-sectors. Countries such as Jamaica, Barbados,
and Trinidad and Tobago have better infrastructure and a better track
record in export performance, particularly in music, publishing, visual
arts and film. The Caribbean Export Development Agency, working jointly
with the national export promotion agencies, has prioritized four
sectors for increasing their performance in the coming years. Creative
industries was one of them.
ITC is currently working with Provinest and Europaid on a project to
promote the creative sector as a viable contributor to CARIFORUM’s
export diversification and export growth goals.
More specifically, the project aims to:
- Build capacity among selected micro, small and medium enterprises
(MSMEs) to respond to international market demands, particularly with
regard to product design and development.
- Enhance the capacity of Caribbean Export; the Organization of
Eastern Caribbean States Export Development Unit (OECS EDU) to provide
improved marketing and networking services to the Creative Industries
sector.
- Increase awareness of the CARIFORUM Creative Industries sector.
Few Caribbean countries have developed effective national trade
promotion programs to address their major challenges. Even those that
have, Jamaica, Dominican Republic, Barbados and Trinidad and Tobago,
still need specific assistance in the development of non-traditional
sectors. In mainland countries such as Guyana, Surinam and Belize,
which could develop sizeable export industries adding value to their
natural resources, existing export schemes need to be strengthened and
market strategies identified. Smaller islands need to pool efforts in
their export development activities, particularly in the service
sectors. Haiti is a special case due to the recent earthquake: its
export companies and cooperatives require urgent support.