OECS Business Focus 6 by AMS St. Lucia

The quarterly magazine for OECS decision makers

OECS

One Community Growing Together

Issue No. 6

May/July 2017

Trade in Goods & Services Specialty Caribbean Expo

www.oecsbusinessfocus.com

An official publication of the OECS Commission

Sagicor

OECSBusinessFocus May / Jul

No. 6

O E C S

BF May/Jul 2017

CONTENTS FEATURE

44. Saint Lucia TEPA & OECS Partner On Inaugural Specialty Caribbean Expo 46. The Saint Lucia Trade & Export Promotion Agency - Connecting OECS Business To The World 48. The Region On Show At Specialty Caribbean Expo 50. Saint Lucia Manufacturers Take Centre Stage 52. Strong Showing By OECS Member States 54. We Are TEPA 56. Capacity Building - Learning On TheJob 58. Exporting Saint Lucia’s Music Scene 60. Why Trade Shows Still Matter For Small Business Growth 62. The Ubiquitous Creativity Of The OECS 66. The WTO Trade Facilitation Agreement And Free Circulation Of Goods: An OECS Approach 68. OECS Commission Working With Partners Towards Improved Customs Procedures 70. The Role Of Trade In The Implementation Of The Sustainable Development Goals 72. Tourism: A Key Export In The OECS 74. Improving Trade And Investment Flows In The OECS Economic Union 76. OECS An Agri-Export Strategy 78. US, EU Food Standards Major Hurdle For Caribbean Exporters 80. Developing The Blue Economy In Caribbean Small States 81. Unleashing The Power Of The Internet In The Caribbean

4. Editors Focus 6. Business Briefs OECS COMMISSION

8. Understanding The Economic Union, One Country At A Time 9. “When Poetry Becomes Light, And The Writer Becomes The Ageless Voice Of Generations Past And To Come” 10. A Unified Approach To Development: OECS Economies “Too Small To Grow In Isolation” 12. Laboratories In The OECS Receive New Equipment 14. OECS Provides Lifesaving Equipment OECSBusinessFocus May / Jul

16. Eastern Caribbean Supreme Court Hosts 50th Anniversary Essay & Poster Competition Award Ceremony 17. Regional Integration Stakeholders Convene To Discuss Freedom Of Movement Regime 18. OECS Iland Resilience Project Launched In Grenada 19. 10,000 Girls Tour: Empowering girls Across The Eastern Caribbean 20. OECS: Crisis Point For Agriculture? 22. OECS NETHTE Project To Strengthen Hospitality Training 24. Better Poverty Data For OECS Decision Making 25. Sagicor Cave Hill School of Business And Management - Preparing The Region’s Leaders For The Future 26. 64th OECS Authority Meeting Continuation 28. Get Rid Of Your Executive Committee!

MONEY MATTERS 30. Axcel To Transform The Economy Of The Big Parish in Grenville 32. CIBC FirstCaribbean Maintains Partnership With UWI 33. European Union Provides €24 Million To Support Caribbean Private Sector Development 34. KPMG The Benefits Of Regional Coordination: KPMG’s Story 36. World Bank: Spending Better, Not More, Is Key To Improving Infrastructure 37. ECCB Building Named In Honour Of Former Governor The Late Hon Sir K Dwight Venner 37. CDB To Assist Region Deal With De-risking Of Banks 38. CTU Hosts ICT Week And Symposium In Antigua

BUSINESS TECH

40. Generators – A Practical And Affordable Option 41. Future-proofing Our Internet: Caribbean ISPS Switching To Next-generation Protocol 42. 10 Caribbean Countries With The Most Facebook Users

82. Barbados Conference Services: One Versatile Venue

ENVIRONMENTAL FOCUS

84. Diving To Greener Heights: Dive Saint Lucia Is World’s First LEED Platinum PADI School 85. OECS Discuss Ocean Governance And Policy Eastern Caribbean Regional Ocean Policy Being Fine-Tuned

ECONOMY & TRADE 86. Caribbean’s First Angel Investor Forum Held In Jamaica 87. Talks Ongoing To Amalgamate OECS Indigenous Banks 87. Caribbean Economies To Grow By 1.7 Percent 88. IDB Report Says Economic Outlook For Caribbean, Latin America Improving 89. Antigua & Barbuda Implements GIIC Diplomatic Regulatory Framework 90. OECS Fisheries Subsidies Negotiations In The WTO 91. Link-Caribbean Awards $US125,000 To Five Caribbean Firms

YOUTH IN FOCUS 92. Is E-Testing A Good Fit For The Caribbean Region

IN THE KNOW 94. Invest In Florida Real Estate “Where The Sun Shines On Your Investment”

TOURISM

96. Airbnb And Caribbean Tourism Organization Sign Cooperation Agreement 97. Top 7 Caribbean Cruise Destinations For 2016 98. St Vincent Opens New Multi-Million Dollar Argyle International Airport

MEMBER STATES 100. Caribbean Governance Training Institute Certifies New Chartered Directors In Antigua 101. Events 102. Major Moves 104. Advertiser’s Index www.oecsbusinessfocus.com

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OECSBusinessFocus May / Jul

Realising The Benefits Of Free Trade Across Borders! The OECS Commission continues to push ahead with a number of initiatives aimed at realising the opportunities available through the OECS Single Market and Economy, and a seamless system to promote and facilitate the export of goods and services across the OECS countries and beyond. We have seen the efforts of the Commission with harmonising the regional Customs tariffs and systems, finding solutions to the shipping issues to move products across the region and other efforts at trying to get the islands to work together on other initiatives such as the recent launching of the ILand Project, and the protection of our environment which is critical to the sustainability of our tourism industry.

Lokesh Singh Editor / Managing Director

The OECS Commission needs to be commended for their efforts at building the blocks, creating the opportunities and enabling an environment for businesses to thrive. It is a fact that we operate in small markets and the opportunities for growth lie in expansion outside our borders. The hosting of the first ever Specialty Caribbean Trade Show, pioneered and executed by Saint Luciaâ&#x20AC;&#x2122;s Trade Export Promoting Agency (TEPA), in partnership with the OECS Commission, is another great step forward. The trade show, hosted at the Daren Sammy Cricket Stadium in Saint Lucia, was a first for the OECS, allowing our regional manufacturers and service providers to meet in a single location and explore the possibilities for collaboration, networking, generating sales and opening new markets for the export of their products and services. With the success of this trade show, the OECS Commission has agreed that the event should be hosted every other year, and will be coordinating efforts to host future shows. The reviews from the inaugural Specialty Caribbean Expo will only help to enhance and improve planning and execution of the next such event. This issueâ&#x20AC;&#x2122;s Special Feature is dedicated to supporting the promotion of Trade in Goods and Services across our region. A review of the Specialty Caribbean Expo identifies many issues which need to be addressed, especially as they relate to helping our small and medium size enterprises who are already offering and developing great products and services. Critical issues continue to be access to capital, technical skills, product development and marketing. We need to ensure that companies are supported to become export-ready and globally competitive. Their growth and success will bring added value in employment and foreign exchange earnings for the benefit of our small economies.

OECS BUSINESSFOCUS

OECS Business Focus magazine is published Quarterly by Advertising & Marketing Services Limited (AMS), Saint Lucia, in association with the Organisation of Eastern Caribbean States (OECS). Publisher / Managing Editor: Lokesh Singh - lokesh@amsstlucia.com Editorial Management Team: Lokesh Singh | Dr. Didacus Jules | Dee Lundy-Charles Ramon Peachey Graphic Designer: Tannel George | Carlisle Searles Advertising Sales: Cennette Flavien - cennette@amsstlucia.com Cleopatra Jules - cleopatra@amsstlucia.com Joan Wells - joan@amsstlucia.com Evol De Souza - evol@regionalpub.com Ann-Maria Marshall - ann-maria@regionalpub.com Shari Dickenson - shari@regionalpub.com Cecil Baptist - winwardsupplies1@hotmail.com Webmaster: Advertising & Marketing Services Photography: Ashley Anzie for AMS Ltd | Danny Moonie for TEPA CAIPA | CDB | CTU | UWI | Caribbean News Now Caribbean Export | Jamaica Observer | Trinidad Guardian Contributors: Lokesh Singh | Dr. Didacus Jules| Dee Lundy-Charles Dr Chris Bart | Samuel Rosenberg | Jewel Fraser Michelle Stephens-Jules | Mr. Cosbert Woods Norma Cherry-Fevrier | Damiana Mendes Ponce Dr. Lorraine Nicholas | Clarence Henry | Lewis Elder Sunita Daniel | Cyrus Rustomjee | OECS Newsroom Ken Richards | Worldbank.org | Caribbean News Now News Americas Now Editorial, Advertising, Design & Production: Advertising & Marketing Services P.O. Box 2003, Castries, Saint Lucia Tel: (758) 453-1149; Fax: (758) 453-1290 email: ams@candw.lc www.amsstlucia.com, www.oecsbusinessfocus.com OECS Business Focus welcomes contributions from professionals or writers in specialized fields or areas of interest. Reproduction of any material contained herein without written approval, constitutes a violation of copyright. OECS Business Focus reserves the right to determine the content of the publication.

Happy Reading.

On The Cover: Trade in Goods & Services Specialty Caribbean Expo

OECSBusinessFocus May / Jul

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BUSINESS BRIEFS BUSINESS FOCUS

WICB And UWI Sign Mou In Honour Of Five Caribbean Media Stalwarts

The West Indies Cricket Board (WICB) and the University of the West Indies (UWI), through the Caribbean Institute of Media and Communications (CARIMAC), signed a Memorandum of Understanding on April 18 for five bursaries to begin September 2017. The five bursaries are being named in honour of five Caribbean media stalwarts. The honourees are the late Roy Lawrence and Tony Cozier, Tony Becca, Headley Samuels and Joseph Perreira. Head of CARIMAC, Professor Hopeton Dunn says “the programme is geared towards affording students with a specific interest in cricket as they pursue further education in Media/ Communications programmes to include undergraduate studies in Integrated Marketing Communication, Journalism (Radio, Television, Print and Online) and Digital Media Production. Professor Dunn said this relationship is for three years and also noted that the MOU has prompted CARIMAC to add two new courses for the new academic year in the short term – Cricket Commentary and Analytics and Sport Culture and Caribbean Media.

auditorium in the Woodrow Wilson School of Public and International Affairs effective 1 July2017 for Sir Arthur Lewis, a Nobel Laureate in Economics, who served on the school’s faculty from 1963 to 1983. The Naming Committee noted that Sir Arthur Lewis “is an example of someone who brought distinction and diversity to this campus over many years, but whose accomplishments and impact are not known to succeeding generations of Princetonians.”

CARICOM And Cuba Agree To Expand Preferential Market Access

The Caribbean Community (CARICOM) and Cuba have reached agreement for the expansion of preferential access to each other’s markets.

grant duty-free access to Cuban goods, including pharmaceuticals. More developed countries (MDCs) in the Community will also determine the level of preference they will grant to Cuba on a number of other items.

A native of St. Lucia, he was the first person of African descent to be appointed a Professor in Great Britain’s University system. Over the course of his career he published over 80 professional articles and wrote 12 books.

Prestigious Princeton University Names CARICOM and Cuba Agree to Expand Auditorium After Sir Arthur Lewis Preferential Market Access

OECSBusinessFocus May / Jul

convened at the CARICOM Secretariat, Georgetown, Guyana 30-31 January. A significant number of items from the Community, including beer, fish and other agricultural products, and manufactured goods, have been approved for entry into the Cuban market free of duty once both sides formalise the agreement. CARICOM member states have also agreed to

Lewis joined the Princeton Faculty in 1963 as a Professor of Public and International Affairs, and later was appointed the James Madison Professor of Political Economics. He taught undergraduate and graduate courses in The two sides agreed to continue to economic development and economic exchange information on trade in services, and to make efforts to advance history. cooperation in this area, particularly in He retired from the faculty in 1983, but tourism. remained associated with the University in Emeritus status until his death in 1991. USVI Raises Minimum Wage Lewis was knighted in 1963. In 1979 he To Match US Rate won the Nobel Prize in Economics, and he remains the only person of African descent to win a Nobel Prize in a field other than Literature or Peace.

The selection criteria for the programme has been prepared and the five students will be selected shortly.

Princeton University’s trustees have approved naming of the major

Business Briefs

This Agreement was confirmed during the tenth meeting of the joint commission established under the trade and economic cooperation agreement between CARICOM and Cuba

The minimum wage in the US Virgin Islands will join the top ten states in having the highest minimum wage in the United States. Beginning on June 1, 2017, the administration will raise both public and private workers minimum pay to $9.50 per hour, putting it on par with New York ($9.70), Rhode Island ($9.60) and Minnesota ($9.50). Currently, the highest minimum wage in the nation is Massachusetts ($11.00). Governor Kenneth Mapp signed legislation last year to raise the minimum wage from the federal hourly rate of $7.25, in three stages, to $10.50 starting on June 1, 2018. Approximately one-third of the US Virgin Islands labor force are considered low wage workers despite the Caribbean territory having one www.oecsbusinessfocus.com

of the highest costs-of-living in the US, surpassing even New York City. It is estimated that 15,000 residents in the territory will directly benefit from the increase in pay.

Air Canada Adds New Routes To Belize And St Vincent

The Administration says the “marked significant improvements” in the territory’s immigration process are aimed at better facilitating international trade and transactions.

Additionally, it is expected that the wage increases will have a positive “multiplier effect” on the local economy and will help raise greatly needed income tax revenue for the government.

Dominican Republic And Cuba Sign Trade Agreement

The Dominican Republic has signed a Partial Scope Agreement with Cuba in an effort to boost economic and trade ties and cooperation between both countries. The Agreement was signed in April by Foreign minister Miguel Vargas and Cuban Deputy Foreign Minister Ileana during a ceremony at the Dominican Foreign Affairs Ministry. Vargas called the initiative a “historic moment” in the bilateral ties, “which will pave the way for two nations, united by strong historical and cultural ties such as the Dominican Republic and Cuba, to build even stronger ties to benefit their citizens”. He stressed the bilateral trade of US$91.0 million in 2015, with a nearly 70 per cent jump in Dominican Republic exports to Cuba from 2010 to 2015 of US$53.0 million. Cuba exported around US$38.0 million to the Dominican Republic in 2015 — 38 per cent higher from 2010 to 2015. According to Vargas, an area of tariff preferences will be established that will have basic trade rules and disciplines aimed at eliminating non-tariff barriers in bilateral trade, “thus helping to create and increase trade and cooperation between the parties and encourage the participation of different economic operators”.

Last year the Government implemented a visa waiver system for persons in possession of United States and Canada visas.

Air Canada announced recently the continued expansion of its international network with the addition of new routes for the 2017/18 winter season, including Toronto-Belize and Toronto-St. Vincent’s new Argyle International Airport (subject to government approval). “Air Canada is continuing its strategic, global expansion with a diverse range of exciting new non-stop routes this winter to Australia, South America, the Caribbean and the United States,” said Benjamin Smith, President, Passenger Airlines at Air Canada. “The addition of the first long-haul, international scheduled service to St Vincent in the Caribbean, along with the addition of Toronto-Belize offers new choices for travellers looking to escape Canadian winters,” he concluded.

BVI To Introduce E-Visas

The Government of this British overseas territory has announced plans to introduce electronic visas (e-visas) in an effort to make the British Virgin Islands more accessible to persons who currently require visas to visit. “The implementation of e-visas will allow applicants to obtain visas electronically after entering required information and making payment, thereby reducing the cost of administering the visa system and making the Virgin Islands more accessible to persons requiring a visa to visit,” the Government said in its Medium Term Fiscal Plan for the period 2017 to 2019.

St Kitts-Nevis Revives Plans For IXP Infrastructure

A two day symposium and technical workshop held from May 4-5, 2017, has revived the conversation for the introduction of an Internet Exchange Point (IXP) infrastructure in St Kitts and Nevis. An IXP, simply put, is a physical infrastructure through which internet service providers (ISPs) and content delivery networks (CDNs) exchange internet traffic between their networks. Speaking at the opening ceremony St Kitts and Nevis Attorney General, Vincent Byron, said, “At one point, St Kitts and Nevis was geared to be the first country in the OECS to have an IXP. This workshop is the pivotal start to IXP infrastructure being developed in the Federation. The Government, will soon be launching a National Information and Communication Technology Centre (ITC),” Byron said. He emphasized that there is need for having all the ITC facilities throughout the island under one roof. The facility will also be utilized for training and certification for both the public and private sector. It will also be the home of the IXP infrastructure and a cybercrime desk. “It is of tremendous value having an IXP here in St Kitts to attract businesses who want to be more efficient with the delivery of their services,” Byron said.

OECSBusinessFocus May / Jul

OECS COMMISSION BUSINESS FOCUS

Understanding The Economic Union, One Country At A Time

UNDERSTANDING THE ECONOMIC UNION, ONE COUNTRY AT A TIME By: Dr. Didacus Jules, OECS Director General Having achieved substantial progress on the free movement of people objective in the Revised Treaty of Basseterre, the OECS Commission is making a concerted effort to advance the free circulation of goods and services. This objective is a more complicated challenge than the free movement of people as it involves the harmonisation of a much wider architecture. This issue revolves centrally around the ease of doing business within each of the OECS Member States, and between them, as a single economic union. There are legislative, regulatory, customs, financial, transportation and other arrangements which need to be streamlined, harmonised or abolished in order that the free circulation we seek becomes a seamless and dynamic process. In this issue, we report on the inaugural edition of the Specialty Caribbean Expo – an exciting initiative that is the brainchild of the Saint Lucia Trade Export Promotion Agency (TEPA). The objective was to showcase the diversity and exciting range of products available, and to put buyers and producers in touch with each other to boost export opportunities. This was the first attempt at such a venture, and was well attended by the Saint Lucian public and an encouraging number of buyers.

• It must, however, allow a window for “start up” and micro-enterprises who have quality products and can benefit from exposure to the wider demographic that will view the Expo. • Over a period of time, the Specialty Expo must seek to become self (meaning private sector) financed. We will need to track the results to see if the Expo is generating new usiness for participants. As it generates higher volumes of exports, it is only fair that dependence on donor and governmental support is removed.

In this issue, we also report on many initiatives being undertaken in the trade arena to improve capacity and competitiveness in the OECS – from blue ocean efforts and agri-shipping to overcoming technical barriers to trade and improved custom procedures. As I have consistently done in every issue of this magazine, I again appeal to readers and in particular to the OECS private sector to provide us with your critical feedback, recommendations and ideas. We encourage readers to propose themes, submit articles on matters of importance to them and help us build audience for the magazine and website.

The OECS Commission partnered with TEPA to make this a reality and we have been discussing how we can make this initially a biennial event though partnership with the trade promotion agencies of all Member States. There are many lessons to be learnt from the first venture and we have started this reflection.

This magazine is not meant to be simply another business magazine on the shelves. Let’s make OECS Business Focus magazine and its website the primary source of reliable business intelligence on the OECS, and the increasingly diverse range of opportunity that it presents to Caribbean people and foreign investors.

Future editions of the Specialty Expo must achieve many things: • It must prioritise and showcase producers who are ready to export, and therefore best placed to benefit from encounters with buyers.

Please help us achieve this. ¤

OECSBusinessFocus May / Jul

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“When poetry becomes light, and the writer becomes the ageless voice of generations past and to come” OECS Director General Pays Tribute To Sir Derek Walcott The award-winning creative works of Sir Derek Walcott, complemented in 1992 by his recognition as a Nobel Laureate in Literature, not only lifted the hopes of Saint Lucia, but those of the region as a whole.

path for Caribbean writers and artists on the international stage. Our region mourns the loss of a true cultural ambassador, intellectual, teacher, and friend.

Sir Derek reminded us that our Caribbean culture, although riddled with struggles and scars from our colonial past, was also beautiful and worthy of notice. Through his eloquent, rhythmic verses, he told our story vividly and unapologetically, and the world took notice.

Sir Derek was the epitome of a wonderful human being and his inspirational presence will truly be missed but never forgotten. Although the poet’s pen is down, his words have transitioned into immortality. His writing has emboldened our imagination and his metaphor has given new meaning to the idea of a Caribbean civilisation.

He left an indelible mark on our generation, and forged a respected

Rest in perfect peace, Maestro.

“Mr. Walcott’s expansive universe revolved around a tiny sun, the island of Saint Lucia. Its opulent vegetation, blinding white beaches and tangled multicultural heritage inspired, in its most famous literary son, an ambitious body of work that seemingly embraced every poetic form, from the short lyric to the epic.” New York Times Good Caribbean writing, he believed, has a strong sense of tragicomedy and a brave attitude. It does not despair easily. He described the region as a place of “unfinished associations”, bearing the amnesia that followed indenture and slavery. It is also “the territory of metaphor”, a fertile imaginative terrain, and Walcott’s work is accordingly full of symbolism, myth and folklore. The Guardian “He had travelled often and far, but concluded that poetry was best done within a perimeter of about 20 miles. The truest, simplest, potentially the greatest, lay close to home: in the red flares of the flame tree, the “leoparding light” of the forests, the gossip of café and rumshop, the thick-leaved breadfruit yards. And, most of all, in the ocean. Without it, he pushed his pen “through a thick nothing”; with it, he had a shining shield, a theatre, a light-sparkling hoard, a music, an untiring lover. The last line of “Omeros” was his own: “When he left the beach the sea was still going on.” The Economist OECSBusinessFocus May / Jul

OECS COMMISSION BUSINESS FOCUS

A Unified Approach To Development: OECS Economies “Too Small To Grow In Isolation”

A Unified Approach To Development: OECS Economies “Too Small To Grow In Isolation” The biggest impediment to growth of the OECS economies is their small size and scale of production, and the lack of a unified regional approach to development, according to Dr. Vanus James, Economist, Statistician and regional Academic, who addressed his remarks to the OECS Economic Growth Forum in Grenada on March 17, 2017. Citing tertiary education as one of the growth sectors with the greatest potential for growth, Dr. James singled-out Grenada’s St. Georges University, as well as Antigua, as leading tertiary education in the OECS. He believes the model must now be replicated across the OECS, in other growth sectors such as creative industries and the ICT Sector, identifying skills gaps and helping to attract foreign investment through a regional approach. The Grenada Forum was the final in the public education forum series ‘Vini Kozé’, which engaged citizens of the OECS on key development issues such as education, climate change, agriculture, youth empowerment and regional integration. Vanus James, who has worked as a Senior Policy Advisor to the United Nations Development Programme (UNDP), says the region is at a critical juncture in terms of its economic fortunes, with very slow growth in large economies such as the United States, Canada and Europe, which are major source markets for our tourism industry, as well as buyers of our exports. James says these developed countries, normally traditional allies, are threatening to close their economies and reduce imports from the region, a factor he says. that could “negatively affect our ability to increase our exports, which is what we need as small countries, in order to raise our rate of growth.” Dr. James surmised that “for the first time, countries of the Eastern Caribbean are at a juncture where they are confronted with the challenge of how to diversify their economies away from tourism, in the context of slow growth and falling imports in the North Atlantic.” OECSBusinessFocus May / Jul

“At this moment in our history, we must create new types of exports by building our domestic capital sector. That’s the most historic challenge we’ve ever faced, from Slavery to now. How do we create capital with our own capabilities. In that regard, we need new thinking about how to grow our economies.” Dr. James feels very strongly that as a region, we need to return to the growth strategies we used before globalisation. He explained: “We import most of the assets we use to produce, but if you want to engage the world, you have to build domestic capability, to create demand in the world for the things we export. We must build-up our domestic capital sector. The fundamental problem we have in the Caribbean, is that our domestic sector is too small. We’re not doing enough with the creative industries. We’re not doing enough with ICT as exports. And we’re not doing enough with tertiary education as an export. To engage with the changing world, we must change the type of exports we offer by building our domestic capital sector.” Adamant that in order to build the domestic capital sector, “we have to confront the historical inequalities in our societies, including the unequal access to power,” Dr. James asserts that the people who get access to power and who shape policy in the region, are a select few who have always had access to the levers of power, and who have not invested well in our domestic capabilities. Consequently, he recommended major reform in governance in the OECS and the wider Caribbean. He called for participatory budgeting at the national level, and joint policy-making, both of which would ensure more people involvement and people participation in governance. Hon. Oliver Joseph, Minister for Economic Development, says the Government of Grenada is taking steps to ensure more citizen engagement in national budgeting. He explained: “In the preparation of our National Budget in Grenada, we have consultations where we go throughout the island to get the views www.oecsbusinessfocus.com

of farmers, the youth and all stakeholders, to hear what they would like to see in the budget and what initiatives they would like the Government to pursue at the community and national level.” Grenada has just come to the end of a homegrown Structural Adjustment Programme from which it received a passing grade from the International Monetary Fund (IMF), following a significant reduction in its Debt to GDP ratio from 60 per cent to 40 per cent. Minister Joseph contends: “The only reason we have been so successful is because we continue to listen to our social partners in shaping and implementing national policy. The success we have achieved is because of the participation and ‘buy-in’ we have had from the people.” In relation to the issue of rising youth unemployment in OECS Member States, Minister Joseph says the era of government being the largest employer is coming to an end. He says the approach should be for government to give incentives to the private sector and seek to attract foreign direct investment to create jobs. In 2016, Grenada spent EC $30 million on training young people through the Grenada Training Institute, where they attained Caricom Vocational Qualification (CVQ) in various skilled areas. The Minister says this training is designed to provide youth with the tools to create their own employment or to secure jobs in the specialised areas in which they are trained. As it relates to diversifying Grenada’s economy, Minister Joseph says the Economic Commission for Latin America and the Caribbean (ECLAC) has just completed a study of the non-tourism services sector, which will guide Government policy as it relates to the incentives and skills needed to grow these sectors.

President of the Saint Lucia Hotel & Tourism Association (SLHTA), Sanovnik Destang, believes there is scope to expand the contribution of tourism to the economies of the OECS. He told the Forum: “The tourism sector has seen tremendous growth in recent years. We had some rough years in 2008, 2009, and 2010, but we’ve seen steady growth since then.” Destang believes the time has come to broaden the contribution of tourism to GDP beyond arrival figures. He notes that visitor expenditure has a major trickle-down effect in the local economy, and there are millions of dollars to be gained from strengthening linkages between tourism and other sectors such as agriculture. On the home front, the SLHTA has teamed up with local farmers in setting-up a Virtual Agriculture Clearing House (VACH). Destang says this initiative has seen a significant increase in the purchase and use of local produce by hotels in Saint Lucia. He says the system is so advanced, that an app has been developed to forecast the production cycles of farmers to match demand from the hotels. ¤

The Public Education Forum Series is part of the public education component of the Economic Integration and Trade Programme of the OECS region, funded by the 10th European Development Fund. It is being produced by ElShaFord Productions on behalf of the OECS Commission. The series will be edited for broadcast across all OECS Member States, the wider Caribbean, and the West Indian diaspora in the UK, the USA and Canada.

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OECSBusinessFocus May / Jul

OECS COMMISSION

Laboratories In The OECS Receive New Equipment

Testing For Plant, Animal Health And Analysis For Food Safety To Be Improved Laboratories in OECS Member States are now better equipped to diagnose issues related to human, animal and plant health, and food safety, thus increasing their levels of efficacy and efficiency. In mid-March, the OECS Commission, through its Agriculture Unit, handed in excess of XCD $300,000 worth of laboratory equipment to Agriculture Health and Food Safety (AHFS) testing laboratories and pest risk analysis units of Anguilla, Antigua and Barbuda, Dominica, Grenada, St. Kitts/Nevis, Saint Lucia, and St. Vincent and the Grenadines. The dockets for the equipment were handed out at a ceremony at the Golden Palm Conference Centre in Rodney Bay, Saint Lucia. The new laboratory equipment was purchased under the 10th EDF Regional Integration and Trade of the OECS Region Project. In his brief remarks, Programme Officer in the Agriculture Unit of the OECS Commission, George Alcee, thanked the European Union for responding to the request for equipment, and for its continued support under the Harmonisation and Enhancement of OECS Agriculture Health & Food Safety Systems. Alcee said the programme, which started in 2012, has strengthened the health and food safety systems in the OECS. The pest risk analysis support component of the programme involves the provision of training for all OECS countries to undertake science-based risk assessments, and provide quarantine policy advice, to protect plant health status while facilitating trade. It also involves the procurement of equipment to establish pilot labs in St. Vincent and the Grenadines, Dominica, and Saint Lucia, in order to safeguard against the entry of exotic pests, consistent OECSBusinessFocus May / Jul

with the International Plant Protection Convention. The OECS Commission has trained over thirty quarantine inspectors, through the annual UWI Plant Quarantine Training Programme. Improving the quality of infrastructure and testing capacity of labs in the OECS was the objective of the training, with an eventual goal of certification or accreditation to ISO/IEC17025, and the provision of laboratory equipment based on the testing needs of beneficiary countries. A technician in each member state was trained in lab diagnosis for Avian Influenza (Bird Flu) and Newcastle Disease. The training took place in Chile. Mr. Alcee reiterated that the equipment was provided to assist the labs in their mandate to protect human, animal and plant health in their respective countries and the OECS region. He appealed to the lab managers and technicians to make the best use of the equipment, “as we continue to work towards safeguarding the OECS Economic Union from pests and disease.” According to the Programme Officer, achieving this goal is key to realising the free circulation of goods within the Economic Union. Dr. Didacus Jules described the occasion as “a milestone in agricultural health and food safety in the region” as it relates to strengthening of the processes of compliance to international health and food safety standards and the establishment of a framework for the development of ‘Centres of Excellence’ and access to their services, by Member States. The OECS Director General stressed that “initiatives such as these in which we are building collaboration among Member States, strengthening capacity, and providing tools for more scientific ways of working – exemplify the work of the OECS Commission.” www.oecsbusinessfocus.com

He told all present: “If you don’t do your work effectively, if you’re not provided with the right tools and equipment, if we’re not able to hold the line against dangers and diseases, our entire Free Circulation of Goods Regime runs into peril.” Dr. Jules noted that international trade in high-value food products continues to expand, fuelled by changing customer tastes and advances in production, transportation and other supply chain technologies. He says this expansion of trade in food products has given rise to concerns about food safety, with major concerns about the presence of chemical residues and various contaminants in food, as well as the possibility of the spread of pests and the threat of invasive species.

Dr. Jules says, regrettably, agricultural health and safety issues have been primarily promoted as a trade-related obligation imposed by the World Trade Organisation (WTO) in a very stringent manner. In light of this, he believes that as a region, the OECS must give equal prominence to product quality improvements and health benefits to our consuming public. The handing-over of equipment coincided with a three-day meeting of Agriculture Health & Food Safety Laboratory, Sanitary and Phytosanitary Quarantine Managers of the OECS. Representatives of Development Partners in attendance included Mrs. Shivanna Mahabir of LEESquared Consultants and Mr. Stephen Farquharson of CROSQ. ¤

According to Dr. Jules, the expanding trade and tourism industries in the OECS and the wider region, have long been recognised as an avenue for the entry of invasive pests and diseases. Citing actual examples, he said the destruction of the coconut industry in St. Kitts/Nevis and Antigua by ‘Lethal Yellowing,’ was as a direct result of the importation of palms from Florida for landscaping in the tourism industry. Putting the issue into context, the Director General said: “We have recognised the need for the region to have the capacity and capability to rapidly detect and accurately diagnose agriculture, health and food safety issues, to ensure safe and sustainable trade and consumption of agricultural commodities. The capacity to meet sanitary and phytosanitary standards to address the many issues of agriculture, health and food safety as a region, lies in strengthening the institutional and managerial capabilities of our agencies, and in deepening functional cooperation between them.”

St. Kitts/Nevis country rep accepts docket for Lab Equipment from OECS Director General Dr. Didacus Jules

Structrual Systems Limited

OECSBusinessFocus May / Jul

OECS COMMISSION

OECS provides lifesaving equipment Pressure Gauge To Be Used To Calibrate Oxygen Cylinders At Hospitals

OECS Provides Lifesaving Equipment

Two vital pieces of equipment donated to the Saint Lucia Bureau of Standards by the OECS Commission can be used to save lives in medical emergencies and in the operating theatre. So says Anselm Gittens, Head of the Metrology Unit at the Saint Lucia Bureau of Standards. The OECS Commission has donated a Pressure Gauge, a Time Processor Card, and an Electrical Energy Meter to the Bureau. In accepting the new equipment, Gittens said the Bureau is very appreciative of the support given to it by the OECS Commission. He said it would go a long way in enhancing the capability of the Metrology Unit. Metrology is the Science of Measurements. Gittens disclosed that the Saint Lucia Bureau of Standards is implementing a programme for Legal Metrology (Weights and Measures) as well as Industrial Metrology. He described the new equipment as “essential items that we did not have.” Gittens explained that the Pressure Gauge will be used for the calibration of pressure gauges used on medical equipment. He revealed: “When we did a survey, we recognized that there are pressure gauges on Oxygen Cylinders at our hospitals, but there is no systematic programme to determine whether the pressure readings on these gauges are accurate.” Gittens says the new Pressure Gauge donated by the OECS, along with some additional accessories, will enable the Bureau to calibrate the gauges on Oxygen Cylinders, not just for our hospitals and medical institutions, but also in Scuba Diving equipment, used daily by dive centres across the island in dive expeditions. The Pressure Gauge will also be used to calibrate gauges at plants which sell industrial gases.

The final piece of equipment is a laptop computer. According to Gittens, calibrations in the field are recorded on paper and then transferred to a computer at the office of the Bureau. He says this opens up the possibility of human error. He explained: “We hope to make the process of calibration and verification more efficient by entering the data in the software on the laptop in the field.” The new equipment for the Saint Lucia Bureau of Standards was purchased under the 10th EDF Regional Integration and Trade of the OECS Region Project. It was part of a consignment of new equipment for Agriculture Health and Food Safety (AHFS) testing Laboratories and Pest Risk Analysis Units across the OECS, valued at XCD $309,416. ¤

The OECS Commission also donated an Electrical Energy Meter to calibrate domestic consumption of electricity. The device can be connected to a customer’s premises to monitor and compare the power company’s meter to this standard meter, to determine whether the readings are accurate. According to Gittens, over the years, the Bureau of Standards has received numerous complaints about the accuracy of electricity meters. The Saint Lucia Bureau of Standards also undertakes testing of electrical appliances. As part of the package of equipment from the OECS, the Saint Lucia Bureau of Standards will also receive new equipment to measure Time and Frequency. Gittens explained: “The Bureau has a very accurate Time and Frequency Standard. We’re part of Inter-American Metrology System (SIM). The intention is that we should be able to disseminate time nationally. The idea is that all computers in Saint Lucia, will be synchronised with the Time Standard held by the Bureau of Standards. OECSBusinessFocus May / Jul

Mr. Gittens accepts equipment from OECS Director General Dr. Didacus Jules www.oecsbusinessfocus.com

AMLFC Institute

OECSBusinessFocus May / Jul

OECS COMMISSION BUSINESS FOCUS

Eastern Caribbean Supreme Court hosts 50th Anniversary Essay & Poster Competition Award Ceremony

Eastern Caribbean Supreme Court hosts 50th Anniversary Essay & Poster Competition Award Ceremony In celebration of the Eastern Caribbean Supreme Court’s 50th Anniversary, the Court held an award ceremony for its Essay and Poster Competition dubbed “An evening with the Chief Justice.” The event gave Her Ladyship, Hon. Dame Janice M. Pereira DBE, Chief Justice, an opportunity to motivate and inspire children to think more clearly, see opportunities, and move forward in achieving their dreams. The ceremony also provided an opportunity for Her Ladyship to speak directly to the students in attendance about a number of matters pertaining to the Court including the history of the Court, how the Court System works and the difference between the High Court and Court of Appeal in each Member State and Territory. The following students were awarded: Essay Competition results Category 1 Winner Ms. Ariel Albert - St. Joseph’s Convent Saint Lucia Second Place Ms. Dominique de Castro - Cedar International High School - Territory of the Virgin Islands Third Place Ms. Giselle Bowers - Cedar International High School Territory of the Virgin Islands Category 2 Winner Ms. Khadijah Halliday St. Joseph’s Convent - Saint Lucia Second Place Mr. Omar King Saint Mary’s College - Saint Lucia OECSBusinessFocus May / Jul

Poster Competition Results Category 1 Ms. Jasmine Gilford St. Augustine Catholic Primary - Montserrat Mr. Jediah Hippolyte Dame Pearlette Louisy Primary - Saint Lucia Ms. Aulauni Andrew St. Augustine Catholic Primary - Montserrat Category 2 Mr. Ramiah Zuriel White Brades Primary School - Montserrat Ms. Alyssa Joseph Bregado Flax Educational Centre Primary Territory of the Virgin Islands Ms. Haylie Shai Kassie St. Augustine Catholic Primary - Montserrat The Ceremony was held on March 27, 2017 at the National Cultural Centre, Barnard Hill Castries, Saint Lucia. In attendance were Her Excellency Dame Pearlette Louisy, Governor General of Saint Lucia; Judicial Officers of the Court of Appeal and High Court; Staff of the Eastern Caribbean Supreme Court’s Headquarters; Members of the Public and Private Bar; Principals; Teachers; Parents and over 520 Students from Primary & Secondary Schools from Saint Lucia & Montserrat. The Eastern Caribbean Supreme Court (ECSC) was established in 1967 by the West Indies Associated States Supreme Court Order No. 223 of 1967. The (ECSC) is a superior court of record for the Organisation of Eastern Caribbean States (OECS), including six independent states: Antigua and Barbuda, the Commonwealth of Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines and three British Overseas Territories (Anguilla, British Virgin Islands, and Montserrat). The Court has unlimited jurisdiction in each member State. ¤ www.oecsbusinessfocus.com

Regional Integration stakeholders convene to discuss Freedom of Movement Regime The Commission provided an update on progress towards the implementation of the Free Movement of People Regime and Member States were given the opportunity to directly address matters relevant to these discussions. meetingFreedom also received update on the OECS Commission’s Regional Integration Stakeholders Convene ToThe Discuss Of an Movement Regime

participation at the International Civil Aviation Organisation’s (ICAO) Regional Seminar and Workshop, which took place between January 31st and February 3rd 2017 in St. John’s, Antigua and Barbuda.

OECS represented at ICAO Regional Meeting in St. John’s, Antigua and Barbuda. Regional Integration stakeholders convened on March 16th to discuss the current implementation status of the Indefinite Stay Regime and the Rights Contingent to the Free Movement of People Regime; two critical accomplishments of the Organisation of Eastern Caribbean States (OECS) towards the full implementation of the Revised Treaty of Basseterre and the establishment of the OECS Economic Union. In attendance at the 18th Meeting of the Free Movement of People Working Group were senior officials from the Immigration Departments of OECS Member States, representatives from the OECS Commission and four OECS Commissioners.

The Working Group addressed two major topics discussed at the ICAO Regional Meetings: the need for the harmonisation of Border Management Systems; and the need to enhance the security of national identification cards. OECS Member States took this opportunity to provide an update on ongoing national efforts toward the harmonisation of Border Security Systems and recommendations for advancing this matter were considered by the Group. The OECS was represented at ICAO meetings by Senior Border Control Managers, including Chief Immigration Officers from Antigua and Barbuda, Grenada, Saint Kitts and Nevis, Saint Lucia and Saint Vincent and the Grenadines. The Commission was represented by Tourism Specialist Dr. Lorraine Nicholas and Regional Integration Specialist Mr. Clarence Henry. ¤

Open Camp UWI - Jamaica

OECSBusinessFocus May / Jul

OECS COMMISSION BUSINESS FOCUS

OECS Iland Resilience Project Launched in Grenada

OECS Iland Resilience Project Launched in Grenada Environmental Ministers and Technical officers from the Organisation of Eastern Caribbean States countries (OECS) as well as key regional partners and international Agencies attended the fourth OECS Council of Ministers meeting recently held in Grenada under the theme “Accelerating Sustainable Development: Addressing Challenges, Creating Opportunities”. The Council which is responsible for guiding the OECS Commission and making recommendations to the OECS Authority on issues relating to the environmental sustainability, staged the meeting which offered an opportunity for its member states to strengthen regional partnerships in related matters and also support members in increasing sustainability and minimizing vulnerability. Protecting the region’s natural resources for the social and economic benefits of the people was also a main factor discussed at the meeting. Other key areas of interest included; water resource management, ocean governance, energy, climate change and other relevant issues related to environmental sustainability and natural disasters in Small Island Developing States (SIDS). The meeting also saw the Official Launch of the European Union funded iLAND RESILIENCE initiative which is the local OECS brand covering the OECS managed Global Climate Change Alliance (GCCA) project which focuses on sustainable development in small island developing states through sustainable land management towards climate change adaption. Head of the OECS GCCA Project, Chamberlain Emmanuel, highlighted that through the ILAND RESILIENCE Initiative, the OECS Commission and its member states can demonstrate a capacity to deal with the threats and opportunities that come with climate change. “The project which started in 2014 has strategically identified the needs of the member states and identified suitable interventions to address the problems faced. Several projects have been undertaken throughout member states to address key OECSBusinessFocus May / Jul

challenges faced due to the effects of climate change, examples of these Projects includes coastal protection initiatives in the British Virgin Islands and in Nevis, water security through rainwater harvesting in Grenada and Montserrat, added Chamberlain Prime Minister of host country Grenada, Dr. the Right Hon. Keith Mitchell while addressing the gathering at the opening ceremony of the event said “small islands are too vulnerable to be careless in issues that affect their resistance to natural and other disasters”. He then reiterated that by working together collectively small islands states can lead in the area of sustainability. Also incorporated into the meeting was a Climate Change Exhibition hosted by the Ministry of Education, Human Resources and the Environment of Grenada. The exhibition was used as a means of informing the regional delegation as well as the Grenadian public and wider region about measures taken in the islands in climate change resilience. The Exhibition covered a wide range of areas on display to include: Water Management, Energy, Coastlines and the Ocean, Education and Awareness, Food Security, and Alternative Livelihood. The delegation on their last day on the island also took a tour of the Coral Gardening project located in the Grand Anse Bay, a project that was implemented by UN Environment in collaboration with the Government of Grenada, which rebuilds the damaged reef by replanting coral. A Green Climate Fund Structured Dialogue was another key component of the conference. This dialogue is meant to support Caribbean countries in more easily accessing the Green Climate Fund directly. ¤ Pictured above: Grenada’s Prime Minister Dr Keith Mitchell Addresses Participants www.oecsbusinessfocus.com

10,000 Girls Tour: Empowering girls Across The Eastern Caribbean The OECS Commission has partnered with Dr. Camille Wardrop Alleyne, NASA space scientist and Founder of the Brightest Stars Foundation, to inspire girls in the OECS region to achieve against all odds. Trinidad-born NASA aerospace engineer and role model, Dr. Alleyne will use her own journey and Caribbean success story, paired with the positive message of the film ‘Hidden Figures,’ to motivate, inspire and empower 10,000 girls throughout the region to reach their full potential. Her message to them is to dream big dreams and to know that there is no limit to what they can achieve with hard work, determination, focus and a belief in themselves. “When you empower and inspire youth to believe in themselves and their capacity for greatness, they embrace their power to be the leaders of tomorrow – leaders who will create positive and lasting change in their communities and our world,” Dr. Alleyne said. ‘Hidden Figures’ is the untold true story of the brilliant AfricanAmerican women mathematicians who NASA hired in the late 1950’s. These women were instrumental in calculating the flight trajectories that made the mission of the first American to orbit the Earth – John Glenn – successful. Dr. Alleyne hopes to use the narrative of ‘Hidden Figures’ to inspire and motivate young Caribbean women to see their potential for greatness. The Eastern Caribbean leg of the 10,000 Girls Tour aims to host 1,500 girls in each island, with a particular focus on underserved rural and urban communities. Dr. Alleyne and her team plan to visit at least ten Caribbean islands by the end of the year.

The film screening will be followed by a panel discussion led by Dr. Alleyne and that includes a highly accomplished local female STEM model and a female university scholar. Director General of the OECS, Dr. Didacus Jules commended the initiative saying that “the OECS Education Strategy is committed to gender equality and that the promotion of science, technology, engineering and maths was an important element in the educational formation of young Caribbean women. “We commend and support this initiative by Dr. Alleyne who is a leading Caribbean Scientist employed in NASA’s Space Program and we are hopeful that this will ignite a passion for the sciences among our girls”. The 10,000 Girls tour was launched in Trinidad on March 15th 2017, under RBC Caribbean Limited’s Young Leaders Programme and boasted over 340 girls from all across the country. About The Brightest Stars Foundation: The Brightest Stars Foundation is a non-governmental organisation that is dedicated to educating, empowering and inspiring young women to be future leaders in the study of science, technology, engineering and mathematics. Founded in 2007 by Dr. Camille Wardrop Alleyne, the Brightest Stars Foundation has inspired and empowered over 3000 young people, globally, to see their potential and to strive for excellence in their academic pursuits. For more information on the 10,000 Girls Tour: Facebook / Instagram / Twitter: @ttgtlive . ¤

OECSBusinessFocus May / Jul

OECS COMMISSION BUSINESS FOCUS

OECS: Crisis Point For Agriculture?

Calls For A Serious Injection Of Capital Into The Sector There is an urgent need for sound investment in Agriculture, if the industry is to remain viable to the economies of the OECS, according to Agricultural Economist with the OECS Commission, George Alcee, speaking at the OECS Forum on Agriculture held in Saint Lucia in March, the theme of which was ‘Agriculture: Investing in the Caribbean’s Food Bowl.’ According to Alcee, without a major injection of capital, Agriculture will continue to flounder with sub-optimal production, unsustainable farming practices and dwindling revenues. Sub-Regional Coordinator for the UN’s Food and Agriculture Organisation (FAO) in the Caribbean, Dr. Lystra Fletcher-Paul noted that the region’s food import bill is US$4 billion per year, and 85 % of the food consumed in the Caribbean is imported from outside the region, including processed foods and meats. Dr. Fletcher-Paul surmised that since the loss of major revenue earners such as sugar and bananas, Caribbean agriculture has struggled to regain its place as the major source of food, the core of rural employment, and a driver of economic growth. Panellists and stakeholders in attendance made a very strong case for the introduction of Land Use Policy across the OECS, to stop the practice of agricultural lands being used for commercial and industrial development. There was consensus on the view that Government needs to do more to create the enabling environment for Agriculture to thrive, through direct capital investment in the sector, the introduction of new technologies in agriculture, and the provision of fiscal incentives to spur growth. On the other hand, it was felt that farmers and agri-entrepreneurs need to adopt more of a business approach to Agriculture, if the sector is to remain viable and competitive. The FAO and IICA OECSBusinessFocus May / Jul

representatives touted the merits of networking and collaboration among farmer groups and farmer support organisations across the region. The Forum agreed that the future of Agriculture is in the hands of the youth, so more young persons need to be encouraged to go into agriculture as a viable career choice, and one that is becoming increasingly driven by technology and innovation. Among the other issues discussed at the Forum were diversification into non-traditional crops, agro-processing, agribusiness development, domestic production, food security and an FAO funded agro-shipping initiative being implemented by the OECS Commission, to increase intra-region shipping of agricultural commodities. The Panel at the Agriculture Forum comprised representatives of the Food and Agriculture Organisation (FAO); the Inter-American Institute for Cooperation in Agriculture (IICA); Saint Lucia’s Ministry of Agriculture; the Caribbean Network of Rural Women Producers (CANROP); the Belle Vue Farmers’ Co-operative (St. Lucia); the River Antoine Rum Distillery (Grenada); and the OECS Commission. The audience comprised individual farmers including Saint Lucia’s former Minister of Agriculture, Calixte George, and former Geest General Manager, Anthony Leonce. Among the farmer groups represented were the Cocoa Producers Association, the Broilers Association, the Honey Producers Co-operative, the Flower Producers Co-operative, and the Agriculture Division of the Sir Arthur Lewis Community College. Also represented was the Massy Group of Companies, which provides interest-free loans to a select group of local farmers, and buys a significant amount of local produce for retail in its chain of supermarkets across Saint Lucia. ¤ www.oecsbusinessfocus.com

Reasons to work with a

tRavel Going Places

A great travel advisor... Takes It from Ordinary to Extraordinary A Going Places travel advisor can secure special benefits that you can’t get on your own, such as complimentary breakfast, spa credits, and upgrades at hotels. But they also see the nuances in every trip. From big-picture aspects (where to go – and when) to the details that matter (booking the hotel rooms with the best views, where to get the most authentic pizza on the Amalfi Coast), your travel advisor knows how to plan a memorable trip. Knows The World Just as you might use a financial planner, an interior designer, or personal shopper, it makes sense to entrust your most valuable asset – your time – to an experienced travel advisor. The best advisors spend a lot of time on the road themselves – scouting out hotels, deepening relationships with tour guides, and finding the best restaurants and things to do.

advisor Knows Your Travel Style A Going Places travel advisor understands what’s most important to you and your traveling companions. You may want to take a cooking class or a private tour, or you may not want to leave the resort pool! Perhaps you want to use travel to educate your kids, plan an unforgettable anniversary trip, or celebrate a milestone birthday with friends and family. Your travel advisor will have plenty of suggestions on what might work best for you. Expands Your Horizons A great travel advisor will help you think creatively about where to go and what to do. Italy, France, & Hawaii will always be popular.

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But your advisor also knows the best ways, say, to see Chile, Portugal, New Zealand, and many other hot destinations – plus new ways to experience the places you’ve already visited. Together, you can plan your next dream trip or weekend getaway.

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Castries: (758) 452-3282 Vieux Fort: (758) 454-9100 Rodney Bay: (758) 452-2151 OECSBusinessFocus May / Jul

OECS COMMISSION

OECS NETHTE Project To Strengthen Hospitality Training

OECS NETHTE Project To Strengthen Hospitality Training A series of meetings on the OECS Network of Excellence for Tourism & Hospitality Training & Education (NETHTE) project, took place in Grenada in March. An OECS delegation comprising the Tourism Specialist and the NETHTE Strategic Plan Consultant, engaged over forty (40) key officials in Grenada to promote and secure ‘buy-in’ for the project, which gave birth to the establishment of the Eastern Caribbean Institute of Tourism (ECIT). Among the persons met were Senator Simon Stiell, Minister of State with responsibility for Human Resource Development and the Environment, the Permanent Secretaries in the Ministries of Education and Tourism, the Executive Director of the Grenada Hotel & Tourism Association, the Chief Executive Officer of the Grenada Tourism Authority, the Chief Executive Officer of the National Training Agency, the Principal and Staff of the T.A. Marryshow Community College (TAMCC) and some hoteliers. Senator Stiell described the NETHTE Project as ‘an excellent idea’ and underscored the importance of involving the private sector in the project. The NETHTE is conceptualised as an integrated system, characterised by centres of specialisation operating in respective Hospitality Training Institutes in each OECS Member State. Each Member State will specialise in training in a niche area of Tourism and Hospitality that reflects the comparative advantage of the destination.

drinking experiences, both near and far. Culinary tourism creates synergy between the food, beverage and travel industries and is a way of bringing together economic and community development through the tourism value chain. Gastronomy is the art or science of good eating, and focuses on styles of cooking, as of a particular region. Gastronomy will create the opportunity for students to acquire the knowledge and skills required for the preparation of a variety of cuisines such as Caribbean, the Americas, Asian, Indian, African, and European. Grenada is known as the Spice Isle, and so, this specialisation reinforces the destination’s image. Dining out is very important for all tourists. In terms of importance of destination attributes, food is believed to rank alongside climate, accommodation, and scenery. The Grenada meetings concluded with renewed commitment to continued support in the operationalisation of the NETHTE Project by key stakeholders and the reiteration of the involvement of TAMCC as a significant partner within the network of institutes. Mrs. Marlene Abraham-Finlay, representative of TAMCC, is the Chairperson of the regional ECIT Implementation Task Force. The OECS NETHTE Project is being implemented with funding support by the European Union, through its 10th EDF programme of Economic Integration and Trade of the OECS Region. ¤

Culinary or Food Tourism is defined by the World Food Travel Association as: The pursuit of unique and memorable eating & OECSBusinessFocus May / Jul

www.oecsbusinessfocus.com

CIBC First Caribbean

OECSBusinessFocus May / Jul

OECS COMMISSION

Better Poverty Data For OECS Decision Making

Better Poverty Data for OECS Decision Making Social and poverty data for better government decision making across the OECS has been strengthened with the convening of the OECS Living Standards Measurement Committee (LSMC) Joint Sixth Technical and Ninth General meetings held in April in Dominica. The LSMC serves as an advisory body to the national statistics offices (NSOs) and the OECS Commission on issues relating to social and poverty data, as well as inequality indicators. The objectives of the meeting were to: • receive updates on the main decisions and actions tabled at the Fifth Technical Committee and Eighth General LSMC meetings; • share experiences and lessons learnt from implementing household surveys; • receive updates on Member States’ preparation to implement their Enhanced Country Poverty Assessment (CPA); and • confirm agreement on the methodologies, instruments and criteria for the assessments of poverty and inequality according to international best practices. The meeting also discussed Multiple Indicator Cluster Surveys (MICS) as a rich source of data for the health and social conditions of children and women, which Member States can use to monitor the Sustainable Development Goals (SDGs). The use of Internal Review Boards to protect the rights and welfare of human subjects selected to participate in behavioural or social science research was also discussed. In his opening remarks Mr. Elbert Ellis, Operations Officer (Social Analyst) at the Caribbean Development Bank (CDB) and the Project Supervisor of the Enhanced CPA Project, pledged to assess and provide where necessary, financial support to assist OECS Member States to execute their CPAs. OECSBusinessFocus May / Jul

Mr. Ellis also encouraged Member States to institutionalise their National Assessment Teams (NATs), as the official mechanism to guide and support continuous collection of social and poverty data. In her opening remarks, the Head of the Statistical Services Unit at the OECS Commission, Dr. Gale Archibald, thanked the development partners who have supported the LSMC meetings since its inception in 2011, noting also the achievements to date. “We are profoundly grateful to DFID, the World Bank, UNDP and other partners for bringing OECS Member States and the OECS Commission, to this point. We are convening for the ninth time, which is deserving of the applause and acknowledgement of the work and achievements of the Committee” said Dr. Archibald. Dr. Archibald also reminded participants of the mandate for this work by pointing to the Revised Treaty of Basseterre, specifically, Article 23: Human and Social Development. Member States also reaffirmed their appreciation to the UNDP for their technical support for producing multi-dimensional poverty indicators (MPI) and for ensuring that their MPI analytical skills are strengthened though their affiliation with Oxford Poverty and Human Development Initiative (OPHI). The meetings were organised by the OECS Commission’s Statistical Services Unit and funded by the Caribbean Development Bank and United Nations Children’s Fund (UNICEF). The Dominica Meeting were attended by Directors/Chief Statisticians of the Member States’ NSOs, social and economic planners and policy analysts who are all considered to be part of the national statistical system (NSS). The meetings were chaired by Mr. Carlton Phipps, Director of Statistics, St. Kitts Central Statistical Office. ¤ www.oecsbusinessfocus.com

Sagicor Cave Hill School of Business and Management - Preparing the Region’s Leaders for the Future

Sagicor Cave Hill School Of Business And Management Preparing the Region’s Leaders for the Future Effective mitigation of risk factors is crucial for business development and success. All successful managers recognize the significance of receiving critical and timely information in order to make sound organizational decisions. The Sagicor Cave Hill School of Business and Management (SCHSBM) presents the ultimate forum for such information sharing - Navigating a Path to Growth: A Risk Management and Competitive Intelligence Conference, a riveting and interactive conference at the Hilton Barbados Resort on June 26 – 27, 2017. Within the past decade, the business environment has been continuously shifting due to threats from geopolitical issues, increased competition, regulatory compliance

demands and challenges to cybersecurity and the need for better data. This conference appeals to CEOs, CFOs, risk and compliance managers, credit risk managers and senior managers of private and public sector institutions as it will provide insights into advanced risk management strategies to assist organizations in building their competitive capability. By the end of this two-day event all participants will be better positioned to, not only identify relevant enterprise risks that may be on the horizon but, take calculated steps in the light of the risk while capitalizing on market opportunities. For over twenty-five years, the Sagicor Cave Hill School of Business and

Management (SCHSBM) has been an integral force in the development of the Caribbean business environment. With SCHSBM’s development initiatives – academic, professional, consultancy and research – business professionals can look forward to becoming immersed in flexible programmes that can help them to improve in their leadership, customer service and human resources functions on the job. SCHSBM has designed a comprehensive and interactive collection of programmes that offer timely and relevant knowledge and skills that help individuals and organizations build and maintain sustainable growth.

Cave Hill School of Business and Management

THE SAGICOR CAVE HILL SCHOOL OF BUSINESS AND MANAGEMENT PRESENTS

NAVIGATING A PATH TO GROWTH

A Risk Management & Competitive Intelligence Conference

June 26-27, 2017 • Hilton Barbados Resort

Regional & International Presenters include: ICA Members can earn CPD points! Mr. Cleviston Haynes

Prof. Gillian Marcelle

Dr. Andreas Schotter

Prof. Patrick Hosein

Dr. Preeya Mohan

Group rates available!

Mr. Bruce Scott

Dr. DeLisle Worrell

Dr. Justin Robinson

Dr. Justin Ram

Mr. Randy Graham

For more information: visit www.uwichsb.org, call (246) 424-7731 or email chsb@cavehill.uwi.edu

OECSBusinessFocus May / Jul

OECS COMMISSION BUSINESS FOCUS

64th OECS Authority Meeting Continuation

64th OECS Authority Meeting Continuation Heads Of Governments Focus On Sustainability, Security And Collaboration By: Jewel Fraser On Wednesday, April 12, 2017, a continuation of the Sixty-Fourth Meeting of the OECS Authority was held at the Beachcombers Hotel, St. Vincent and the Grenadines, under the Chairmanship of Dr. the Honourable Timothy Harris, Prime Minister of St. Kitts and Nevis. Heads of Government or their Representatives in attendance included Hon. Gaston Browne, Prime Minister of Antigua and Barbuda; Hon. Francine Baron, Minister of Foreign Affairs, Commonwealth of Dominica (representing Prime Minister Dr. Hon. Roosevelt Skerrit); Hon. Nickolas Steele, Minister for Health, Grenada (representing Prime Minister Dr. the Rt. Hon. Keith Mitchell); Hon. Donaldson Romeo, Premier of Montserrat; Hon. Allen Chastanet, Prime Minister of Saint Lucia; and Honourable Ralph Gonsalves, Prime Minister of St. Vincent and the Grenadines. Dr. Didacus Jules, Director General of the OECS, and the Commissioners to Antigua & Barbuda, Dominica, Grenada, and Saint Lucia also attended, as well as Ms Murielle Lesales, Commissioner for Martinique to the OECS. Among other agenda items, the Meeting focused on: (a) Sustainable Financing of the OECS Commission (b) Security Enhancement (c) Joint Representation (d) Health Insurance (e) Membership (f) Agriculture and support services OECSBusinessFocus May / Jul

The Authority reviewed the financial obligations of Member States to the OECS Commission, with a view to improving the timeliness of subvention payments. Heads of Government agreed that the timely payment of contributions is essential to the efficient functioning of the Organisation, and committed to the expeditious settlement of outstanding contributions. The OECS Heads of Government also deliberated on current matters of regional security, and proposed recommendations for ongoing support in the areas of border security and intelligence sharing. The Meeting recognised the importance of the Regional Security System (RSS), as well as the CARICOM Implementing Agency for Crime and Security (IMPACS), which continue to be focal points for regional law and order, and considered the benefits of deepening practical cooperation among Member States as a deterrent to criminal activities. The OECS Commission will investigate the feasibility of a regional cooperation framework for policing in the sub region. Discussions continued on strategic options for external representation, with a view to consolidating diplomatic missions and a detailed report was presented regarding the current expenditures on external representation by Member States. The government leaders also reflected on the re-establishment of a joint diplomatic Mission in Canada, stronger outreach into the African Continent, and in particular, improving relations with the African Union as an entity, and with individual Member States www.oecsbusinessfocus.com

of the African Union. The Heads affirmed to be an important strategic element in the OECSâ&#x20AC;&#x2122; thrust to deepen south-south cooperation and strengthen ACP relations. OECS leaders discussed financial sustainability of the Health Sector in the region, and noted the need to implement a regional Health Insurance Programme capable of providing specialised care to Member States at reduced costs. The Authority commended the progress that individual Member States have made towards the implementation of National Health Insurance programmes, and considered viable options for the adoption of an OECS Health Insurance Programme in these Member States. Later in the Meeting, the Heads of Government received a report on the progress of the Agri-shipping Initiative being piloted in St. Vincent and the Grenadines, and commended the Ministry of Agriculture for the progressive approach to improve standards and approach new markets. The attendees noted the significant economic potential of the initiative, and proposed that the OECS Commission continue to work with St. Vincent and the Grenadines to ensure the engagement of all Member States. All Heads expressed their deep appreciation of the hospitality extended by the Government and People of St. Vincent & the Grenadines and looked forward to the speedy implementation of decisions made at the meeting. And finally, the Authority considered the status of negotiations with St. Martin, and agreed that discussions should continue towards its logical conclusion. Â¤

OECSBusinessFocus May / Jul

BUSINESS FOCUS

Get Rid Of Your Executive Committee!

Get Rid Of Your Executive Committee! By: Dr Chris Bart - Chairman, The Caribbean Governance Training Institute

Do you have an executive committee (EC) operating within your current board structure? If the answer is yes, then here’s a tough question for you: Why? There’s no question that executive committees are still popular among boards for their supposed many advantages they bring to an organization’s governance model. In fact, at one time, they were widely used among publicly listed corporate boards, being found in almost 60% of such organizations. However, they have in recent times fallen largely into disuse as a governance mechanism and their presence today in the corporate world is barely noticeable at 4%. So what happened to them? Why have most boards abandoned them? And why do some boards, particularly in the noncorporate sector, still cling to them? For the record, boards establish committees (such as the audit, governance, and human resources committees), to carry out specific work and activities on behalf of the full board which the board itself would have to do if the committee did not exist. The rationale for setting up an executive committee is, in principle, no different. However, that’s where the similarity ends. Executive committees are different in that the reason for having one is most often to make up for what are ‘perceived OECSBusinessFocus May / Jul

deficiencies’ in the Board itself. For instance, once a board gets beyond a team of 17 directors, it becomes extremely difficult to bring them all together on short notice in between regularly scheduled meetings. An EC therefore is typically established so that it can deal with important and urgent matters that can’t wait for resolution until the next board meeting. In carrying out their function, they are usually granted extraordinary decision making power that commits the entire board to whatever course of action they have approved during the times they meet. Another reason often cited for having an executive committee is that CEOs like having a small group of directors for testing their preliminary ideas before formally presenting them to whole board. Having such conversations with a large board can easily be perceived as inefficient, quickly becoming unwieldy and thereby waste valuable board time that has been scheduled to make decisions and not navel gaze with the CEO. It’s potentially career limiting. So the executive committee represents a safe harbor for CEOs to pilot their initial thinking and assess their potential for board support before bringing them to the full suite of directors for review and approval. And then there’s the whole matter of who’s going to evaluate the CEO. Setting

his or her performance evaluation criteria, conducting the actual evaluation, and awarding compensation is one of the toughest activities of the board and one in which CEOs take the results personally!

Dr. Chris Bart, FCPA is a recognized global governance authority and CoFounder of the Caribbean Governance Training Institute in Saint Lucia. The Institute is the first to offer throughout the Caribbean, an intensive, 3 day governance programme leading to the prestigious and internationally recognized Chartered Director (C.Dir.) designation. For more information visit www. caribbeangovernancetraininginstitute. com or phone Lisa at 758 451 2500 www.oecsbusinessfocus.com

Accordingly, carrying out this monumental responsibility is considered to be best done by a small group of directors – an executive committee – who are charged with becoming highly familiar with the CEO’s leadership of the organization. Additionally, because of their unique mandate, members of the EC are often granted the privilege of withholding both their evaluation and compensation recommendations from the rest of the board because “the other guys just wouldn’t understand given their distance from the CEO.” (Honestly, I’m not making this up!) Finally, boards do not want to spend their time on trivial, inconsequential or inappropriate matters that are best left to others (i.e. management) to decide. Executive committees therefore are often asked to set and approve the agendas of board meetings to make sure that only the right items are coming to the board for its consideration. The composition of most executive committees also sets them apart from your normal, everyday run-of-the-mill board committees. Most ECs are populated exclusively with those board members already serving in a leadership capacity: the current, past and presumptive board chairs as well as the chairs of the major board committees. It is not unusual to find 3 to 7 such persons on an EC. As such, they are an elite group who sacrifice a lot in terms of taking on major responsibilities over and above their other leadership roles. So with all this going for them, why have executive committees fallen into disfavor and why should you get rid of yours….or at least rein it in? First of all, if you have one because ‘you’ve heard it’s the thing to do’ or ‘that others are doing it’ and so you’ve set one up in order to appear “with it”, think again. In the world of governance, one size does not fit all and just because other organizations have an executive committee, that is no reason for you to blindly follow the herd. Boards need to ask themselves why they need to have an executive committee in the first place and most importantly, whether they still need one in today’s current governance environment. After dealing with this fundamental question, a modern 21st century board needs to confront and acknowledge the many problems that having an executive

committee creates for them. At the top of the list is board disengagement. With a “super board” operating inside the full board, it becomes very easy for the “ordinary directors” to feel that their status is diminished (relative to the elite members of the EC) and that their contributions are reserved only for the incidental, inconsequential and ceremonial decisions. Ironically, this in turn may cause the non EC directors to request fewer meetings of the full board. Yet the fiduciary responsibility and personal liability of the non EC directors is not lessened because of their reduced involvement. In fact, due to their disengagement, they may be setting themselves up for tremendous liability consequences if the decisions of the executive committee later go bad. And why should an executive committee be charged with the tremendous responsibility for making important decisions – decisions that commit the entire board – just because it’s difficult to bring all the directors together. Of course, if the problem is having too large a board, an easy fix is to shrink the board in order to more easily accommodate and coordinate director schedules. But that is not always possible if certain “board membership criteria” need to be met and balanced (e.g. geographic, gender, professional criteria etc.). Nevertheless, for the really big decisions, all board members need to be involved and participating. There is absolutely no excuse for excluding any of the directors when such matters arise especially when technology exists today to enable any director to “be present” no matter how far away they may be. It is also difficult to accept the argument that the CEO needs a smaller subset of the board with whom to pre-consult his ideas. That’s what a modern Board Chair’s job is supposed to be and that responsibility should be clearly laid out for both the chair and the CEO. And because nothing the CEO discloses to the board chair should be treated as confidential, the chair should keep notes of his meetings with the CEO so that the board has some sense as to the nature and content of all meetings that their chair has with their number one employee. It is also the job of the chair to set the board agenda with the input, not only from the CEO, but all other directors. There simply is no good reason why this responsibility should be turned into an elite committee’s jurisdiction.

Lastly, when it comes to evaluating the performance of the CEO, the entire board should be involved in establishing his performance criteria with as many hard (versus soft discretionary) measures as possible – at least 75 percent. When such measures are in place, it becomes relatively easy and objective to measure a CEO’s performance and to dole out its corresponding rewards. The 25 percent discretionary portion can then be handled by either averaging out the CEO’s rating among the directors or assigned to the board’s ‘leadership members’ (i.e. those who would have worked most closely with him) as a one-time annual activity. But what is really important, is for there to be full disclosure to the entire board as to the method and outcome of the CEO’s performance evaluation. All board members need to be able to understand and explain how the compensation of their CEO was established and why it is justified. Otherwise, it creates mystery and mistrust among those board members who feel excluded from such an important board governance decision. Bottom line, most of the work that some think requires the creation – or continuation – of an executive committee should in fact be done by the entire board itself. Nevertheless, if you still believe you need one to deal with “certain types of decisions”, those decisions should be ones that would not upset the ‘other’ board members who have been excluded. Moreover, the decisions should be clearly specified in the charter or mandate of the executive committee so that its members do not overstep their role or decision making authority. So here’s the big, uncomfortable question for Caribbean directors: to what extent do you and your fellow board members think you still need an executive committee, or need to create one? If you think that there is room for improvement in the way your board manages this controversial governance function (and others like it), you might want to consider sending them to one of the corporate governance training programs currently available in the region – like the extraordinarily unique 3 day Chartered Director Program (“C. Dir.”) currently being offered by The Caribbean Governance Training Institute. After all, it’s not education which is expensive, but rather ignorance. ¤ OECSBusinessFocus May / Jul

MONEY MATTERS

By: Samuel Rosenberg

Axcel To Transform the Economy of the Big Parish in Grenada Axcel To Transform The Economy Of The Big Parish In Grenville A celebratory feat of economic boost for the rural residents of Grenville as Axcel Finance opened its second branch in Grenada on Wednesday January 25, 2017. With hundreds of citizens in attendance, together with top Government officials including the Prime Minister and three Cabinet Ministers, many business owners and community leaders joined for the ribbon-cutting ceremony. The occasion marked Axcel’s unwavering commitment to providing financing for the residents of rural communities. The microfinance institution has developed a distinguishable position within the financial services arena as an innovative financing organization geared towards the growth of small business enterprises through ‘quick’ and ‘hassle-free’ loan services. This move to double the number of branches declares the message behind the basis of Axcel Finance’s existence, which remains to launch its services as a tool for fostering sustainability in a developing economy to Small and Medium Sized Enterprise and individuals that will simultaneously spark entrepreneurship amongst the previously underserved rural regions of Grenada. Axcel Finance’s founder and CEO, Sam Rosenberg while addressing the attendees of the launch, acknowledged the obvious economic constraints facing residents and reaffirmed the company’s partnership with the country. He stated “you have our commitment OECSBusinessFocus May / Jul

to empower small businesses throughout the country and this region. We want to see consumer and entrepreneurs grow and contribute to the economic development of the country.” The basic objective being met by Axcel Finance is the provision of a convenient access to credit to the people of Grenada. This has taken place simultaneously when other financial institutions are downsizing or closing operations in rural communities. Pictured above: Prime Minister Dr. Keith Mitchell cuts ribbon to declare office open in the presence on Ministers of goernment and Axcel Finance CEO.

Samuel Rosenberg is the founder and CEO of Axcel Finance Ltd., the leading regional microfinance institution. Share your thoughts and email your questions to srosenberg@ axcelfinance.com.

www.oecsbusinessfocus.com

As many small countries continue to struggle, a major challenge in Grenada is access to financing for entrepreneurs in some productive sectors particularly agriculture and fisheries. Recognizing the role Axcel Finance is poised to play in the communities, and consequential benefit to the country at large, the launch was well supported by Ministers of Government. Minister for Agriculture, Lands Forestry and Fisheries Hon. Yolande Bain-Horsford stated “we have witnessed how vulnerable our landscape is to natural disasters. The fisherfolk and farmers who are seeking to better their practices are restricted in doing so due to an unavailability of credit.” She believes that “Axcel Finance’s emergence in the sector has triggered an increased access to financing that will encourage our youth to embrace new opportunities for learning, skill development and income generation.” The limited access to finance in rural communities has been an obstacle in the economic climate compounded by the recent “withdrawal by the commercial banks from many rural towns and villages within Grenville,” a point noted by the launch event’s keynote speaker, Prime Minister, Dr. the Rt. Honourable Keith Mitchell.

Development, Trade, Planning & Cooperatives, added that he and the administration see the benefits of growing the economy through the investment in rural St. Andrew and commends Axcel Finance for recognizing the hard-working residents that simply require financing to grow and develop their small businesses. Axcel has cemented a position amongst small business owners by offering financial solutions through a deliberate and targeted investment in the country on a micro level. Its success rate has stimulated macro level impact stemming from the number of entrepreneurs, job creation, and economic development. Following the keynote speech, the Prime Minister was joined by the cabinet Ministers and the management of Axcel Finance in the ribbon-cutting ceremony and officially declared the branch open. The company reported it welcomed hundreds of residents who visited the branch throughout the day. ¤

Prime Minister Mitchell reiterated a fact known to and shouldered by Axcel Finance that is, “there is a need to create the necessary conditions for the development of private sector employment and economic activity with a key focus in the rural areas”. The mandate of the Grenada administration sees a commitment to stimulating the Micro, Small and Medium Seized enterprise sector. In conjunction, Minister Oliver Joseph, Minister of Economic

OECSBusinessFocus May / Jul

MONEY MATTERS

CIBC Firstcaribbean Maintains Partnership With UWI

CIBC FIRSTCARIBBEAN MAINTAINS PARTNERSHIP WITH UWI The University of the West Indies, Cave Hill Campus is expected to take a multi-million dollar step to help the Caribbean further develop through science and technology. The effort will see the establishment of a state-of-the art Faculty of Science and Technology at the campus. Principal and Pro Vice-Chancellor of The UWI, Cave Hill, Professor Eudine Barriteau spoke about this goal when Chief Executive Officer (CEO) of CIBC FirstCaribbean, Gary Brown paid her a courtesy call recently. She also said that the campus was aiming to increase its student population to close to its carry capacity of 9,000 by tapping in on non-traditional Caribbean markets as well as international markets. She said that the campus’ enrolment had declined after the Barbados government introduced tuition fees for local students, however, she was seeking to market the campus internationally by leveraging its reputation for offering a quality education as well as its location in Barbados, highlighted by factors such as good international connections by air, access to digital technology and good social cohesion. Prior to meeting with the principal, the CEO toured the campus and said he was impressed with the facilities. Professor Barriteau noted that her predecessor, Professor Sir Hilary Beckles, now The UWI’s Vice Chancellor, had worked diligently to modernise it but the Faculty of Science and Technology, originally built in the 1960s, was out of pace with today’s requirements and was the next area for attention. Barriteau noted that growth in science and technology was integral to the region’s development, therefore it was necessary for faculty and the student population to have access to better facilities. In addition, she said having a modern faculty was important to the long term transformation of learning, delivery and investment at the campus. She added that the Caribbean OECSBusinessFocus May / Jul

Development Bank was carrying out preliminary work that will facilitate design and other fundamentals of the project. The CIBC FirstCaribbean CEO said the bank was interested in learning more about the project and was willing to help, especially recognising its link to the region’s development. CIBC FirstCaribbean is a long time supporter of the university. The parties formalised their relationship in 2003 with the signing of their first three-year memorandum of understanding (MOU). During the courtesy call, Mr. Brown presented Professor Barriteau with the final tranche of sponsorship money under the 2014-2017 MOU. Noting that the bank was pleased to partner with the university as it developed the human resources of the region, Brown announced that its community relation’s arm, the FirstCaribbean ComTrust Foundation, had given the go-ahead to commence negotiations with UWI for a new MOU. The MOU usually targets scholarships for students and research funding as well as campus outreach to the general public through the annual Frank Worrell Memorial Cricket Lecture and the annual International Women’s Day Lecture. Professor Barriteau, who is in her second year as principal, thanked the bank for continuing its relationship with the university, adding that she would ensure the campus carry some visible sign of the bank’s tangible contribution. ¤ Pictured above: Cave Hill’s Pro Vice Chancellor and Principal Eudine Barriteau (second right) in discussion with CIBC FirstCaribbean’s CEO Gary Brown while the bank’s Director of Corporate Communications, Debra King (right) and Cave Hill’s Business Development Officer, Sonia Johnson listen. www.oecsbusinessfocus.com

European Union Provides €24 Million to Support Caribbean Private Sector Development

European Union Provides €24 Million to Support Caribbean Private Sector Development The Caribbean Export Development Agency (Caribbean Export) and the European Union (EU) have signed the 11th European Development Fund (EDF) agreement worth EUR 24 Million to support regional private sector development. At the 11th EDF launch and signing ceremony, held recently in Barbados, Head of Delegation of the EU to Barbados, the Eastern Caribbean, the OECS, and CARICOM/CARIFORUM, Amb. Daniela Tramacere highlighted that the EU remained the largest grant aid donor in the world and have set aside a total of 364 million Euros for regional development; a substantial increase to the amount of aid provided under the previous regional development fund. Of this current EDF cycle which runs from 2014-2020, the Caribbean Export Development Agency will implement the 24 million euro 11th EDF Regional Private Sector Development Programme (RPSDP). Caribbean Export, which celebrated its 20th Anniversary last year, will continue to build upon the two decades of successful EDF Programme implementation and “this new Regional Private Sector Development Programme places even more emphasis on the development of the private sector as both a beneficiary and a partner in the delivery of the EPA” commented Amb. Tramacere Pamela Coke-Hamilton, Executive Director at Caribbean Export reported that after the signing of the CARIFORUM-EU Economic Partnership Agreement (EPA) in 2008, exports from CARIFORUM to the European Union grew by 10% between 2009-2015, and indicated that countries such as Belize and the Dominican Republic experienced increased European exports: 20% and 34% respectively between the same period. “I would like to thank the European Union for their continued support in investing in private sector development and for being a true partner to the Caribbean region,” concluded Ms. Coke Hamilton.

The previous 10th EDF Regional Private Sector Development Programme (RPSDP) was given a positive overall assessment of medium-high by the EU in their implementation of some 260 programme based activities from which over 6,000 SME’s across CARIFORUM benefited. Under the 11th EDF, focus will be placed on market penetration, supply chain and intelligence frameworks, increased access to finance, the promotion of green energy and energy efficiency as key factors in lowering costs and more targeted approaches to enhancing firm capacity. An extremely critical pillar in the success of this programme will be the improvement of the business enabling environment within CARIFORUM States. The overall objective of this programme is to increase employment creation, inclusiveness, particularly for youth, women and indigenous groups, and overall poverty reduction in CARIFORUM states through targeted interventions that provide new and innovative frameworks for growth and development.

About Caribbean Export

Caribbean Export is a regional export development and trade and investment promotion organisation of the Forum of Caribbean States (CARIFORUM) currently executing the Regional Private Sector Programme (RPSDP) funded by the European Union under the 11th European Development Fund (EDF) Caribbean Export’s mission is to increase the competitiveness of Caribbean countries by providing quality export development and trade and investment promotion services through effective programme execution and strategic alliances. More information about Caribbean Export can be found at www.carib-export.com. ¤ Left – Pamela Coke-Hamilton, Executive Director Caribbean Export, Right – H.E. Amb. Daniela Tramacere, Head of Delegation of the EU to Barbados, the Eastern Caribbean, the OECS, and CARICOM/CARIFORUM OECSBusinessFocus May / Jul

The benefits o regional coordination: KPMG’s story KPMG The Benefits of Regional Coordination: KPMG’s Story

The Caribbean region has long understood the benefits of regional integration and governments continue to pursue this goal for the benefit of commerce and our people. Since 2004, with the establishment of KPMG Caricom, a regional governance entity, KPMG has positioned itself to reflect the way our clients conduct their business in the region. Recent changes within KPMG afford us even greater opportunities. Accessibility of local, regional and global skills KPMG is not only better prepared to serve regional clients, it is also well positioned to help share best practices and ideas across the region. And, as part of the KPMG Global Network, clients across the region can continue to access world-class advice and competitive intelligence as they grow and expand in regional and international markets.

Breadth of services to match your needs Like many organizations in the region, our integration encompasses both services and facilities. “Our clients want to know that they have access to firms who strive for highest standards of professional service and that means delivering quality advice in every market we serve,” noted Louisa Lewis-Ward, Lead Client Service Partner for Saint Lucia. “We aim to assess your issues through multiple lenses in an effort to provide efficient solutions that encompass varying perspectives.”

“Delivering quality advice in every market we serve.”

We continue to offer a deep reservoir of local and regional skills across all service lines: audit, tax and advisory. We understand key issues that are affecting many of our regional clients today, for example, securing correspondent banking relationships, the impact of International Financial Reporting Standard (IFRS 9), high government debt to GDP and new national tax classifications. “Like our Pan-Caribbean clients, we are thinking globally and making sure that our services and our footprint deliver value, today and in the future,” noted Brian Glasgow, Lead Client Service Partner for Saint Vincent and the Grenadines. “Companies are looking for advisors and service providers that can support them seamlessly in multiple markets and around the world. That is KPMG.”

“In today’s global marketplace, Caribbean companies need service providers that can match their own footprint, both in the region and around the world.”

OECSBusinessFocus May / Jul

Investing in the region For the employees and clients of KPMG in the region, our firm’s enhanced presence signifies confidence in the region’s economies and our pledge to continue to provide quality service to our clients and to invest in the development of our professional staff.

www.oecsbusinessfocus.com

OECSBusinessFocus May / Jul

BUSINESS FOCUS MONEY MATTERS

World Bank: Spending Better, Not More, Is Key to Improving Infrastructure

World Bank: Spending Better, Not More, Is Key to Improving Infrastructure Latin America and the Caribbean (LAC) can dramatically improve its infrastructure by better assessing priorities and improving spending efficiency, says a new World Bank report released in April.

“Latin America and the Caribbean has long been an innovator in infrastructure,” said Marianne Fay, Chief Economist for the World Bank’s Sustainable Development Vice-Presidency, and one of the authors of the report.

Rethinking Infrastructure in Latin America and the Caribbean – Spending Better to Achieve More argues that although the region trails others in infrastructure investment, it should focus on spending better before thinking of spending more.

“With its expertise in sophisticated regulations and its experience with public-private partnerships, the region has the means to improve its infrastructure services by spending better and on the right things.”

While Latin America and the Caribbean spends 3 percent of GDP on average – compared to 7.7 percent in East Asia and Pacific for instance – many countries spend more than 4 percent.

Spending more efficiently could have enormous benefits.

“Infrastructure investment can be a powerful engine for growth in Latin America and the Caribbean as the region emerges from six years of slowdown, including two of recession,” said Jorge Familiar, World Bank Vice President for Latin America and the Caribbean. “In today’s tight fiscal context, it is essential that investments are as efficient as possible, and that the full potential of the private sector be tapped.” Rather than focusing on often poorly defined financing gaps, the report advocates for addressing “service gaps,” according to countries’ development priorities. This means putting in place efficient ways of addressing these needs, and developing clear rules for deciding when taxpayers should finance services, instead of users. Improving performance in a constrained fiscal environment will require well-identified priorities. The report singles out sanitation and transport, in which LAC lags behind other middle-income regions, as potential focus areas. In addition, the region should also factor concerns such as climate change, urbanisation and its changing socio-economic profile, in particular a larger middle class, which are changing infrastructure service demands –especially on energy and transport.

OECSBusinessFocus May / Jul

In the case of the energy sector, where transmission and distribution losses are high, LAC would need $23 billion per year if it were to follow the same investment path of the past. Costs would at least halve under an approach that favours efficiency, climate resiliency and renewable energy solutions. According to the report, many of the causes for inefficient infrastructure investment have roots beyond the sector, including lack of institutional capacity for planning, regulatory uncertainty, and budgeting and implementation issues in many countries. Inefficient procurement processes, for instance, contribute to excess costs. Adequate pricing for infrastructure services is another important potential area for increased efficiency. The report argues that pricing should go beyond simple cost recovery and take into account issues like social acceptability, quality, equity and attraction of commercial financing. In order to preserve tax-payers money, the report says that public and concessional resources should only be deployed where commercial financing is not viable or cost-effective. Finally, the report concludes that allowing infrastructure operators to diversify their revenue can contribute to easing the fiscal cost. Water treatment plants, for instance, can generate electricity for self-consumption and even sale, and sanitized sludge can be sold as fertilizer, instead of having to be disposed at high cost in sanitary landfills, options not currently available. ¤ Source: Worldbank.org www.oecsbusinessfocus.com

ECCB Building Named in Honour of Former Governor the Late Hon Sir K Dwight Venner

ECCB Building Named in Honour of the Late Hon Sir K. Dwight Venner The Phase I Building at the Eastern Caribbean Central Bank (ECCB) headquarters in Basseterre, St Kitts has been officially named “the Hon Sir K Dwight Venner Building” in recognition of the late former Governor’s distinguished service to the Bank. Members of Sir Dwight’s family, his close friends and colleagues along with the ECCB Monetary Council, Board of Directors, management, staff and retirees, witnessed the unveiling ceremony on 2 March at the ECCB Headquarters in St Kitts and Nevis. In his remarks during the ceremony, Chairman of the ECCB Monetary Council, the Honourable Prime Minister of Antigua and Barbuda, Gaston Browne said that at its 84th Meeting, the Monetary Council supported the establishment of a Committee within the ECCB to identify an appropriate manner to honour the legacy of the Sir Dwight, who retired in November 2015 after 26 years as Governor of the ECCB. Prime Minister Browne said that the Monetary Council approved the naming of the Phase I Building as the “Hon Sir K Dwight Venner Building” at its 85th Meeting, which was held on 22 July 2016.

In his address, Council Member and Prime Minister of St Kitts and Nevis, Dr the Hon Timothy Harris, said the naming of the building in Sir Dwight’s honour was a fitting tribute to his sterling service, especially given the fact that the building was the first to be erected under his governorship. Sir Dwight, he said, was a scholar, a regionalist, a Caribbean man, and most importantly, a family man. Governor of the ECCB, Timothy N. J. Antoine said that he hoped the emblazoning of Sir Dwight’s name on the ECCB campus would bear perpetual testimony to his colossal contribution, not just to the ECCB but to the Caribbean people and the Caribbean civilisation. Sir Dwight’s eldest daughter, Zinga Venner unveiled the signage and expressed thanks, on behalf of the Venner family, to the Monetary Council for showing such great recognition and appreciation of her father’s work. She said that although he was not present physically, he was there is spirit and was aware of this great acknowledgement before he transitioned to the next life. The Hon Sir K Dwight Venner passed away on 22 December 2016. He was the longest serving Governor of the ECCB. ¤

CDB to Assist Region Deal with De-risking of Banks CDB To Assist Region Deal With De-risking Of Banks

The Barbados-based Caribbean Development Bank (CDB) said it is providing US$250,000 to strengthen financial transparency, and assist in preventing the loss of correspondent banking relationships (CBRs) in the region. It noted that in the Caribbean, CBRs facilitate a number of payment systems, including international trade, cross-border payments and receiving of remittances. But recently, some large international banks have started terminating or severely limiting their CBRs with smaller local and regional banks, in an effort to reduce exposure to risks associated with money-laundering and financing of terrorism.

is critical if the Caribbean is to reduce poverty and spur economic development,” he added. The project will be a pilot initiative, and will include the Bahamas, Barbados, Belize, Jamaica, and sevenmember states of the Organisation of Eastern Caribbean States (OECS). It has three components: Strengthening the implementation of, and compliance with, international financial integrity standards by governments in the region, including updating laws and regulations as required. Increasing the technical capacity of banks and credit unions in the Caribbean to conduct customer due diligence, and adopt anti-money laundering best practices.

“The project will be a pilot

“This process, known as de-risking, has negative implications for the Caribbean, potentially resulting in the loss of trade relationships and negative economic impacts,” the CDB said in a statement.

initiative, and will include the Bahamas, Barbados, Belize, Jamaica & seven-member states of the OECS.”

CDB Director of Projects, Daniel Best, said CBRs are fundamental to the efficient operation and resilience of the global financial system. “This project will contribute to a more stable financial system in the Caribbean, which will in turn allow more banks to access CBRs, so that they can continue to carry out international transactions. This

The CDB said this will include training for staff at financial institutions. Improving public-private sector coordination with regulators to more effectively address de-risking and develop a mechanism for ongoing dialogue between this group and external regulators and foreign banks.

The project will be implemented over three years in partnership with the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group. MIF will also manage the project. Components two and three will be executed by the Office of the Secretary of the Association of Supervisors of Banks of the Americas. ¤ OECSBusinessFocus May / Jul

BUSINESS TECH FOCUS BUSINESS

CTU Hosts ICT Week and Symposium in Antigua

(L-R ) – Ms. Bernadette Lewis, Secretary General of the CTU; Hon. Gaston Browne, Prime Minister of Antigua and Barbuda, Minister of Finance and Corporate Governance; and Hon. Melford Nicholas, Minister of Information, Broadcasting, Telecommunications and Information Technology pose for a group photo at the Opening Ceremony of ICT Week Antigua and Barbuda, hosted by the Government of Antigua and Barbuda in collaboration with the CTU

CTU Hosts ICT week and symposium in Antigua Antigua, the island of 365 beaches, was the location of the ICT Week and Symposium. The Government of Antigua and Barbuda, in collaboration with the Caribbean Telecommunications Union (CTU), hosted this event from 20th – 24th March 2017, the theme of which was ICT – Driving 21st Century Intelligent Services. Hon. Gaston Browne, Prime Minister of Antigua and Barbuda, Minister of Finance and Corporate Governance, in delivering the feature address at the Opening Ceremony, stated “ICT is inclusive and all empowering. Promoting ICT is everyone’s responsibility; it is everyone’s business. We need to apply digital thinking and digital policies everywhere.” The Secretary General of the CTU Ms. Bernadette Lewis in her opening remarks noted “The world has changed at a fundamental level as a result of rapid technological innovation and convergence of information and communication technologies, creating new modes of communication, erasing geographical boundaries, compressing time, providing real-time access to a global audience, changing the way business is conducted presenting a virtual reality into which more and more of our lives are becoming entwined,” she said. Ms. Lewis encouraged delegates to embrace the transformative potential of ICT to secure the future. “We must carefully consider OECSBusinessFocus May / Jul

the transformative potential of information and communication technologies, and the build the new platforms and structures that can leverage their potential to secure our future.” She further stated, “We would have to be courageous and prepared to discard the impotent systems that no longer serve our best interests and to put the technologies to work for our advancement and progress. Above all we have to move beyond the talk and to deliberate action.” The week’s activities included a number of ICT events such as Smart Caribbean Conference, 15th Caribbean Ministerial Strategic ICT Seminar, 3rd Caribbean Stakeholders Meeting: Cyber security and Cyber Crime, Training Programme on Mobile Money for Financial Inclusion and culminated with a Workshop on ICT4PWD (People with Disabilities). At the Smart Caribbean Conference, Huawei used its extensive global knowledge and experience in creating Smart Cities, to share its vision for developing ICT in the Caribbean region in all sectors and in support of the establishment of the CARICOM Single ICT Space. Participants learnt how Cloud Computing, Virtualization, Big Data, Geographic Information System, the Internet of Things, the Ecosystem Software Development Kit and other cutting-edge technologies can be used to create comprehensive, end-to-end www.oecsbusinessfocus.com

Smart Caribbean solutions. Solutions include the safe city, smart city operations centres, one-stop government services, smart transportation and applications for healthcare and education. The 15th Caribbean Ministerial Strategic ICT Seminar focussed on the application of ICT in the financial services sector and explored new modes of providing secure financial services for all citizens; the use of cryptocurrencies; cyber security and innovative ways of financing the region’s ICT development. The Caribbean Stakeholders’ Meeting III: Cybersecurity and Cybercrime facilitated discussions for establishing appropriate measures and resources for implementing a Cyber Awareness Campaign as specified in the CARICOM Cyber Security and Cyber Crime Action Plan. The Training Programme on Mobile Money for Financial Inclusion, facilitated by GSMA, provided an in-depth look at mobile money services — how they work, the stakeholders involved and the regulatory enablers, as well as critical issues such as crossnetwork interoperability. The ICT4PWD Workshop which is part of an ongoing initiative by the CTU, is designed to promote inclusive human and social development. Facilitated by Kerry Gunness (blind) and Bryan Rodrigues (deaf), the Workshops demonstrated in a hands-on manner the power of ICT to empower individual PWDs, thereby helping them to lead more fulfilling lives. A diverse group of stakeholders including Caribbean Ministers of Government from Barbados, Dominica, Grenada and Saint Lucia; senior officials from diverse sectors including ICT, Finance,

Prime Minister Hon. Gaston Browne delivers the feature address at the Opening Ceremony of ICT Week Antigua and Barbuda. National Security, Health and Education attended the Seminar. More than two hundred participants attended the Week’s events. The CTU’s next ICT Week will be hosted by the Government of The Bahamas in Nassau during the third week of September 2017. ¤

Caribbean Agro Industries Ltd.

OECSBusinessFocus May / Jul

BUSINESSFOCUS TECH BUSINESS

Generators – A Practical And Affordable Option

Generators – A Practical and Affordable Option

By: Lewis Elder

In an era of unreliable power and an environment prone to the threat of natural disasters, homes and businesses across the Caribbean have resorted to the purchase and installation of Generators, primarily as a backup source of continuous and reliable power. Historically, generators have been identified as a dirty, smelly and noisy diesel engine and a necessary evil. Like most machines with engines, Generators today have evolved with time and have changed extensively to become significantly more fuel efficient, reliable, quiet and environmentally friendly. The diesel engines of today are wonders of modern technology. Computers have taken over and ‘Full Authority Electronic Engine Management’ as it is known has replaced the old mechanical fuel injection pump. A dedicated engine computer now has full control of all parameters of the fuel injection process on the engine so fuel delivery, on a per cylinder basis, is now precisely controlled. And it’s so precise that the computer can adjust the fuel injection time, quantity and duration on each cylinder, for each stroke of the engine. That adds up to thousands of micro-adjustments every second as the control system continually ‘fine-tunes’ the engine. These improvements, along with regular servicing using genuine replacement parts, have increased not only the reliability of generators but the life-expectancy of the engine has almost doubled. The industry standard life expectancy for an industrial diesel engine was always thought to be about 8,000 to 10,000 hours of use, but we are regularly seeing engines last much longer before they’re considered worn out. We have several customers who run their businesses on generators full-time and we fully expect these engines to last at least 20,000 to 25,000 hours. We actually have a customer in Dominica who have been running their hotel with our generators for 15 years straight! They have a staggering 40,000 hours on their engines without ever having any major repairs. That’s roughly equivalent to 2.4 million miles on a vehicle! Fuel efficiency improvements have also had a major impact on generator use and it’s now common for these electronic engines to produce electricity 30% to 35% cheaper than using mains electricity, depending on what country you’re in and what your fuel costs are. But it’s not all about the cost of electricity – it’s the quality of the electricity that also has been impacted. Our customers routinely report lower maintenance costs for their consumer equipment because being on an isolated grid means that they are no longer subject to voltage fluctuations from their OECSBusinessFocus May / Jul

mains power supply – the infamous Caribbean ‘brown-out’ which is like the Grim Reaper for any connected electronics! Diagnostics & maintenance have been all but re-invented too. It wasn’t so long ago that tool-kits were packed full of wrenches and screwdrivers. These days it’s a laptop (thankfully much quieter) and you just plug into your engine and you’re away. The engine computer keeps a full history of all events, including exactly how much fuel it has used over its life-span and how much load it has been subjected to over what periods of time. Full engine diagnostics are a mouse click away and fault finding is no longer a frustrating three day episode. Generator control panels have also succumbed to technology and are themselves computers dedicated to monitoring and controlling all aspects of the generator. They are now easily capable of ‘synchronizing’ - a method of interconnecting generators together to parallel their power. This adds up to even better fuel consumption as you no longer need to run one large generator during low load periods, you can now have two smaller units with synchronizing control panels and run one small generator, saving fuel & maintenance and at the same time increasing your redundancy factor. As the connected load increases, the control panels will automatically start the next generator and put it on line, sharing the load between the two generators. These control panels can be tailored to each customer’s specific needs offering options like automatic refueling, remote control of auxiliary equipment, programmable alarms for an endless list of events and even access to remote generator monitoring and control. So, when looking at your power supply options for your home or office and considering the other variables, you may wish to consider purchase and installation of a Generator for your comfort and peace of mind. They are affordable, reliable, efficient and environmentally friendly. ¤

Lewis

Elder, is Managing Director of Exel Engineering Ltd, Antigua. He is a highly qualified Mechanical and Electrical Engineer and specializes in generators. With over 30 years experience, Exel Engineering is a flagship dealer for FG Wilson generators throughout the Caribbean Region. www.oecsbusinessfocus.com

Future-proofing our Internet: Caribbean ISPS Switching to next-generation protocol

Future-proofing our Internet: Caribbean ISPs Switching to next-generation protocol Forward-thinking network operators in Latin America and the Caribbean are using the Internet’s next-generation protocol, called IPv6, to gain a business edge over their competitors. The upside for customers is better quality of service, and in the long term a more future-proof regional Internet. The Internet Protocol, or IP, is the method by which data is sent from one computer to another on the Internet. Each device on the Internet has at least one IP address that uniquely identifies it from all other computers on the Internet. Since World IPv6 Launch on June 6, 2012, several major websites such as Google, YouTube, Netflix, and Facebook have started rolling out IPv6. Today, the message to ISPs is clear: don’t wait for other competitors to switch over to IPv6, and don’t wait until your clients switch over to your competitors. “The old protocol, IPv4, doesn’t give the Internet any room to grow, so in the near future, new clients and devices will need to connect using IPv6. Internet penetration is increasing worldwide, and more and more types of devices are connected. Internet providers need to take the IPv6 transition process very seriously in order to meet this growing demand in a satisfactory way,” said Alfredo Verderosa, manager of services at the Latin American and Caribbean Internet Address Registry (LACNIC), a nongovernmental organisation based in Uruguay. In the last months, IPv6 penetration among Internet users has grown in markets such as Guatemala, where about seven per cent of people using the Internet now have access to the new protocol. Verderosa expects that IPv6 transition will soon have a very positive impact on Guatemala’s Internet landscape.

“Although the numbers aren’t huge, they are still relatively good, since many countries’ adoption rate is actually closer to zero per cent,” he said. While Guatemala’s IPv6 deployment is not high in absolute terms, it remains among the top in the region, alongside others like Ecuador, Brazil, Peru, and Trinidad and Tobago. For Guillermo Cicileo, coordinator of security, stability and resilience at LACNIC, the key takeaway is that there is at least one operator providing IPv6 to Internet users in Guatemala, and others operators won’t be too far behind. “It’s important for ISPs to start the switchover soon, because failure to deploy IPv6 puts them at a serious disadvantage compared to those who have,” Cicileo said. Verderosa and Cicileo were among several Internet experts gathered in Guatemala City from March 20 to 22 for a three-day regional technology conference called LACNIC On The Move. Since its establishment in 2002, LACNIC has played a leading role in developing a single, open, stable and secure Internet at the service of the development of Latin America and the Caribbean, and has more recently taken an active role in promoting IPv6 deployment across the region, through initiatives such as LACNIC On The Move. “LACNIC also provides basic and advanced IPv6 training in-person and through its online campus. Our IPv6 Portal IPv6 is a great place for operators seeking free downloadable resources or more information about IPv6,” said Cesar Diaz, head of strategic relations and telecommunications at LACNIC. ¤ OECSBusinessFocus May / Jul

BUSINESS TECH

10 Caribbean Countries With the Most Facebook Users

10 Caribbean Countries with the Most Facebook Users Ten Caribbean nations stand out for the most users of Facebook, according to the latest data from Internet World Stats (IWS). The data shows undoubtedly that more and more nationals from the region are signing on to the social media site. The top 10 nations with the most FB users based on News Americas analysis are:

5: Trinidad & Tobago Coming in at fifth on our list is the twin-island Republic of Trinidad and Tobago, which according to the IWS data, has 700,000 Facebook users and a penetration rate of over 57 percent.

1: The Dominican Republic With 4.5 million Facebook subscribers as of June, 2016, the latest data available, the Dominican Republic sits at the top of the list for Caribbean nations with the most users of the social media site. That is a whopping 42.4 percent penetration rate according to IWS.

6: Guadeloupe Taking the sixth spot on our top 10 list is the French Caribbean island of Guadeloupe, with 220,000 Facebook subscribers and a 47 percent penetration rate.

2: Puerto Rico Taking the number two spot on our top 10 list is Puerto Rico with 2.1 million Facebook subscribers and a whopping 59 percent penetration rate as of last June. 3: Haiti The Caribbean nation of Haiti may be poor but 1.3 million of its nationals are Facebook subscribers, ranking it at number three on our top 10 list. But that’s still a drop in the bucket given it’s a 12.7 percent penetration rate. 4: Jamaica With 1.1 million Facebook subscribers and a penetration rate of 37 percent, Jamaica takes the fourth spot for Caribbean nations with the most FB users, at least as of June 2016.

OECSBusinessFocus May / Jul

7: The Bahamas With 210,000 Facebook subscribers and a penetration rate of over 64 percent, the islands of The Bahamas has the seventh most FB users of any Caribbean nation. 8: Martinique There are 170,000 Facebook subscribers in the Caribbean island of Martinique. That’s a 43 percent penetration rate and lands the island at 8th on our top 10 ranking. 9: Barbados In the ninth spot is Barbados, with 160,000 Facebook Subscribers and a 55 percent penetration rate as of June 2016. 10: Saint Lucia Rounding our top 10 is the Caribbean island of Saint Lucia with 88,000 Facebook users and a 54 percent penetration rate as of June 2016. ¤ Courtesy: News Americas Now www.oecsbusinessfocus.com

Trade in Goods & Services Specialty Caribbean Expo

One Community Growing Together

OECSBusinessFocus May / Jul

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Saint Lucia TEPA & OECS Partner On Inaugural Specialty Caribbean Expo

Saint Lucia TEPA & OECS Partner On Inaugural Specialty Caribbean Expo The inaugural edition of the Specialty Caribbean Expo, a multisectoral trade exposition, took place from March 9-12 at the Daren Sammy Cricket Ground in Gros Islet. The expo is expected to develop into a regular event, showcasing exporters from the Organisation of Eastern Caribbean States (OECS) and Martinique. Specialty Caribbean Expo 2017 was billed as “the ultimate onestop-shop, directly linking international buyers from worldwide corporations with Caribbean suppliers from a multitude of sectors including apparel and footwear, financial services, food and beverage, furniture, handicraft, health and wellness, tourism, printing and packaging services.” Exporters from the OECS and Martinique presented and promoted their products and services at the four-day trade show, which was attended by buyers from the United States, Canada, the United Kingdom, Cuba, CARICOM and the Eastern Caribbean. According to TEPA, the Saint Lucia Trade Export Promotion Agency, which collaborated with the OECS to organise the event: “Specialty Caribbean Expo gives participants the opportunity to not only interact and network with each other, but also with various stakeholders, policymakers, regional/international buyers and potential customers. “[Our] objectives include: Creating an opportunity for exporters ... to obtain credible, sustainable leads [and] markets for their OECSBusinessFocus May / Jul

products and services; facilitating regional and international buyer/seller connections; forming and strengthening strategic alliances with relevant trade partners, officials and agencies; promoting and improving inter-regional trade; and identifying new distributors, suppliers and representatives for exhibitors’ products or services.” In the long term, organisers are aiming to export the products and services of OECS and Martinique-based businesses under a collective brand to the UK market. OECS Director General Dr. Didacus Jules addressed the gathering at the Opening Ceremony: “We are here for the launch of an extraordinary idea that was the brainchild of the St. Lucia Trade Export Promotion Agency (TEPA.) When Mrs. Emmanuel-Flood presented the idea of a partnership to the OECS Commission, we immediately recognised the potential of this concept – not as a single event in a single country, but as an exciting vehicle for more aggressively promoting and showcasing the export potential of the OECS.

Pictured above: OECS Director General, Dr. Didacus Jules make remarks at the Opening Ceremony of the TEPA Specialty Caribbean Expo 2017. www.oecsbusinessfocus.com

“Only one week ago, the Eastern Caribbean Central Bank hosted an OECS Growth Forum to examine the current state of our economies and to refine an inclusive agenda for growth and development. In every such discussion, there are a few key things that stand out: • That the sustainable economic development of our countries requires a strong export sector in goods or services that will not simply create jobs but thrive through entrepreneurship and earn foreign exchange. • That our small size is a real constraint particularly with respect to manufacturing of goods and that only by aggregating capacity can we securely occupy a niche in the global market. Single island initiatives will therefore have limited reach and even less capacity to do business on a scale that really matters. (Consider that the population of the OECS member states ranges from under 6,000 in Montserrat to Martinique with almost 400,000 but collectively we aggregate to one million). • That export of services provides our best foothold in the international market and is the arena in which we are least constrained by size. “In shaping the Growth and Development Strategy of the OECS, we are guided by these considerations, and this Expo fits perfectly into these plans. We are seeing a silent explosion of entrepreneurial energy in the OECS, particularly among youth and women, in areas such as cultural industries, agri-business, services, and design. “The Specialty Caribbean Expo provides the opportunity to showcase the extraordinary products that are being produced to

buyers who are keen to do business with us – it is intended to link producers with buyers and to be the most dynamic face to face business to business forum. “The dynamism of the Expo is that it is also intended to be inspiration and have a demonstration effect. It is intended to cultivate a sense of possibility by showing off the best that the OECS has to offer and to further stimulate the creative and entrepreneurial energy of the people of the OECS. “We have signed an MOU with TEPA to make the Expo a recurring mechanism for boosting manufacturing and trade promotion. The lessons of this initial episode will help us refine future editions to make them exciting to the public, attractive to buyers, imperative to producers and stimulating to our economies. We will be aligning this initiative with the employment/entrepreneurship component of our youth strategy and with the work of the OECS Competitive Business Development Unit. Finally, perhaps the most organisationally exciting dimension of this initiative is the opportunity it provides for all of the TEPAs of the OECS to work collaboratively and present a common face to the world of commerce. The OECS Commission is pleased and committed to playing this facilitating role in building these bridges.” ¤ Pictured below: Dr. Jules (centre) his wife Michelle StephensJules and Minister Bradley Felix to the right, join the audience of business owners, exhibitors and buyers at the opening of Specialty Caribbean Expo at the Daren Sammy Cricket Ground on March 9th.

OECSBusinessFocus May / Jul

TEPA – The Saint Lucia Trade & Export Promotion Agency - Connecting OECS Business to the World

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TEPA – The Saint Lucia Trade & Export Promotion Agency Connecting OECS Businesses To The World Shortly after the final curtain fell on the first ever Caribbean Specialty Expo in March 2017, Business Focus sat down with the team from TEPA, Saint Lucia’s Trade and Export Promotion Agency, which drove the event in partnership with the OECS and other regional collaborators. Suddenly the name on everyone’s lips, the facilitation experts are clearly happy with the outcome of two years of planning, and optimistic that the Expo can become a signature OECS event. Andrina Simon – Senior Manager, Promotion & Marketing Glenfield Gilbert – Market Research Officer Danny Moonie – Senior Technical Officer Anthony John – Client Manager

OECSBusinessFocus May / Jul

BF:How did the idea of the Caribbean Specialty Expo originate? AS: In 2012, TEPA held a successful exposition, but we realised

in order to make it a regular event, collaboration was needed with the OECS and other region-wide organisations to engage and mobilise stakeholders. So the OECS became a critical partner in executing the whole event. Two years ago, we began planning, trying to get people to buy in and engaging key stakeholders in Saint Lucia and the member states to help with technical and financial support, which took quite a long time. Of course we also had to secure our sponsors, including our presenting sponsor, Amerijet, who were instrumental in the planning and execution. However, we were committed to the idea that the OECS needs a platform for its exporters, and this was an opportunity to build on the previous experiences of TEPA and OECS at exporting to regional and international markets.

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BF: What were the challenges you met during the planning process? AS: Actually locking in the involvement of key stakeholders took a long time. But getting the appropriate venue was a big problem. Size was the main issue, we needed space for 100 exhibitors at least. No other elements of the plan could move ahead until the venue was settled. Saint Lucia has no indoor facility of that size, and although the Daren Sammy Cricket Ground is large, it gave logistics issues and required extra cost to outfit the stadium to the standard needed to host an international trade show. GG: Execution was a tighter timeline simply because of the

problem of finding the venue. Planning had to stop each time we hit an obstacle.

AS: Another challenge became the unavailability of flights, which

affected exhibitors reaching Saint Lucia. The contingency from St. Kitts weren’t able to make it to partake in the event. Some of the flights were actually cut a few weeks before the expo, so our northern neighbours were affected. It was actually highlighted by our CEO at the opening of the exposition. Luckily we now have ferries, so many of our participants came by ferry.

and the companies are now exchanging specifications and pricing, so it is optimistic that more of our exporters will be successful in that important emerging market.

BF: What are the next steps? Do you think Caribbean Specialty

Expo is destined to be an annual event? AS: (Laughs) No, given our experience this time, realistically we would see it as happening every other year. Saint Lucia TEPA realised early that we wanted to be the initiator and get the expo going, but that we would need to hand over to a key agency like the OECS, which can represent everyone’s interests. They are in the best position to own this type of event and execute it well. The intention would be to have it move around from one state to another, and Martinique has already expressed an interest in hosting the next one. Moving forward, one of the key things will be to form strategic partnerships with other agencies and stakeholders that can help with technical - and of course financial – support, because an event of this magnitude brings a lot to the development of the economy of all the participating states. ¤

It shows that we can create something great but there are a lot of things which are outside of TEPA’s control, even government and OECS, that need to be solved for development of this sort of event.

BF: Who participated and from where? AS: Although the original target number for exhibitors was 100, interest in the event was strong, and in the end approximately 160 signed up for the expo. The number of interested companies was so great, the plan evolved to include ‘pavilions’ that would house a certain number of vendors, like the OECS delegation, which had more than sixty people, and the Martinique delegation, sharing booth space so smaller exhibitors were able to participate. We had approximately fifty-five local buyers and purchasing managers from hotels, Massy, Lumnat and other distributors. There were thirty regional and international buyers, including missions from the U.K and Martinique, and buyers from Barbados, Cuba.

AJ: Demand for participation from the wider Caribbean was amazing. Jamaica, Trinidad, Barbados, Suriname and Guadeloupe were among the markets that expressed an interest in taking part. However, we decided against opening it out as the event was conceptualised as a showcase for the OECS manufacturers and service providers to connect with local and international buyers. In the end, a number of representati ves from export and manufacturing agencies in the wider Caribbean attended to “scope us out” as competition. BF: Does TEPA track the impact of the show on the participants? AS: We are there to facilitate the exhibitors to make the connections and take advantage of everything the exposition offers, but we don’t track the details of orders, that’s between the businesses and the buyers. Right now a post mortem is being compiled but anecdotally, early feedback shows that we met our objectives. Participants were really happy because they were able to meet buyers and enter into discussions with them.

Of course, TEPA is involved in ongoing initiatives such as the Cuban Export Entry Program – we are working with seven exporters and have one success story so far. A Cuban buyer attended the expo OECSBusinessFocus May / Jul

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The Region on Show at Specialty Caribbean Expo

OECS Region On Show At Specialty Caribbean Expo The Caribbean Specialty Expo was conceived as a trade show to spotlight the creativity and industry of the OECS, and dozens of local and international buyers attended on the dedicated day for professionals. But it was the tremendous turnout from Saint Lucians that surprised and impressed the organisers, whose strategy was to make the event a true exposition by inviting the public to three out of the four days, and showing off what is available in the local market. As Andrina Simon explained, TEPA’s vision was not just to offer the traditional displays and booths to their exhibitors - “not just on the hanger” as she put it. The team looked for innovative ways to incorporate product with performance, so that the Friday evening became a music and fashion showcase for clothing designers, jewellery and handbag makers, with the modelling and musical talent highlighting some of the myriad potential for creative and skills-based exports across the OECS and beyond. “At the end of the day, the demand for the product must come from [the public] because they are the consumers. So public awareness of what products and services are available is what drives the success of exporters.” OECSBusinessFocus May / Jul

The organisers also took a targeted approach by inviting high school students to the trade show in order to expose them to careers and business opportunities across a wide range of sectors. Anthony John described the rationale of focusing on 14-16 year old, pre-CXC students, who are currently completing SBAs and starting to make decisions about studies, jobs and future. “They are going into the business world, [so by visiting the expo] they get a good sense of what Saint Lucia, and likewise our neighbours in the OECS, have to offer. It gives them an idea of what to expect,” he explained. By April, an extensive “post mortem” of the first Caribbean Specialty Expo was underway at Saint Lucia’s Trade and Export Promotion, but Glenfield Gilbert was happy to report that across the board, feedback about the event was positive and enthusiastic. “The exhibitors — even those who didn’t meet a buyer — were exposed to great networking opportunities, and the links that were made with other exhibitors were lucrative for many companies. The networking component of the show was very exciting,” said Gilbert. ¤ www.oecsbusinessfocus.com

OECSBusinessFocus May / Jul

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Saint Lucia Manufacturers Take Centre Stage

Saint Lucia Manufacturers Take Centre Stage Although there was plenty of emphasis on small entrepreneurs and businesses, some of the biggest names in the Saint Lucia Manufacturers’ Association (SMA) set up their exhibits at the Specialty Caribbean Expo 2017, and a special pavilion was constructed to house the association’s brightest successes. From to Caribbean Metals to Caribbean Awnings, Baron Foods to Blue Waters St. Lucia, ExelSigns to Lubeco Bedding, Saint Lucia’s manufacturing sector put on their best game face and proved that the island is producing some of the region’s most successful, highest quality products. Among the most popular exhibitors at the four-day Specialty Caribbean Expo were the dazzling array of jewellerymakers, craftspeople and artisans, whose products were as fascinating as the stories behind them.

the creative, entrepreneurial mind. From seeds and pods to coconut and bamboo, handmade jewellery was a real draw, and no two exhibitors were alike. Without a doubt, Saint Lucian talent was on parade, with artisans like Alcina Nolley’s sterling silver, sunset-inspired pieces showing a world class level of skill and quality. The darling of handbag fashionistas, Meme Bete, showed why Taribba Do Nascimento is gaining a reputation for style and quality, while the intrinsically Caribbean creations of Lyn Bristol drew attention for their soft, colourful designs. Button Up, a local t-shirt manufacturer with two generations of experience, had one of the most creative booths featuring a ‘do-it-yourself screen-printing station’ which had a visit from at least one government dignitary!

From around the OECS islands and Martinique, with styles as different as their personalities, expo-goers were treated to a taste of what is possible when tropical beauty meets

Other creative industries were well-represented, with book publishers, photographers, media content providers, musical artists and self-development companies among the exhibitors. ¤

BARON FOODS- Award-winning pepper sauces & condiments

CARIBBEAN AWNINGS - Owner Paula Calderon points out the product quality to PM Allen M. Chastanet

OECSBusinessFocus May / Jul

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LUBECO - High quality beds, mattresses and bedding

BUTTON UP - Print your own t-shirt station

TENDERONI - A staple favourite in Saint Lucia

SAINT LU METALS - Checking out the display

ST LUCIA DISTILLERS - Award-winning rums

SAMPLE TIME - An appreciative crowd at the SMA pavilion

OECSBusinessFocus May / Jul

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STRONG SHOWING BY OECS MEMBER STATES

The collaboration between Saint Lucia TEPA and the OECS Commission produced a very successful trade show, with a focus on spearheading non-traditional exports.

TEPA is passionate about spearheading export development in exciting, innovative ways. We work assiduously to promote and expand local businesses in export markets around the world.

TEPA CEO Jacqueline Emmanuel-Flood stated that Saint Lucia was extremely proud to host the inaugural event.

We constantly aspire to increase local exports and assist Saint Lucian businesses improve profitability and establish long-term sustainability.

“Specialty Caribbean Expo is a milestone event for TEPA, Saint Lucia and the OECS region, not only because it is will serve as such a powerful platform connecting exporters from the OECS and Martinique with international buyers but also because it will foster greater regional collaboration,” said Mrs Emmanuel-Flood. To be able to host 150 exhibitors from across the OECS member states and Martinique is the realisation of the Caribbean ideal, showcasing our strength as a unified community.”

Specialty Caribbean Expo gives us, along with the OECS Commission, the Government of Saint Lucia and Expo sponsors, the unique opportunity through one event to make a significant contribution which will ripple across the region, yielding positive export and economic growth.”

Vincy Manufacturers Enthusiastic About Expo Several members of the St. Vincent and the Grenadines’ business community were represented at the Specialty Caribbean Expo 2017, including two collectives, Vincyklus and Brand SVG, Erica’s Country Style, Pasta Enterprise, Kendra’s Aluminium Products, East Caribbean Metals, East Caribbean Group of Companies (ECGC) and VincyFresh, along with businesses from the creative sector.

Strong Showing By OECS Member States

The delegation was accompanied by Invest SVG staff Glender Francois, Investment Promotions Manager, and Andrew Phillips, Investment Promotions Officer. Francois said this is a “great opportunity” for local businesses of all sizes to network and seek opportunities to develop and “grow their footprint”. She added: “We are happy to have worked with all the participants as we play our role in helping them and their businesses to be strong, vibrant and growing.”

The East Caribbean Group of Companies started in 1977 as East Caribbean Flour Mills. Their brands and products include Easy Bake flour, Carib Pearl and Three Jewels rice, animal feeds, Ju-C soft drinks and bottled water.

After the Specialty Expo, Vincentian metal products manufacturers, East Caribbean Metals Industries Limited (ECMIL), shared insights into their experience on ECMIL.net. “The depth of discourse and visible decision making on the part of potential customers was remarkable. Most heart-warming was the diversity of visitors, from corporate and supplier interests, engineers and architects, to intended spouses as first-time builders and older home owners looking for replacements, upgrades and better ways of doing things. These are the body of ECMIL’s clients, but this time, up close and personal, and to all accounts delighted to see first-hand what they wanted, or had already received. “As a seasoned campaigner, the company joined so many enterprises, big and small under one roof again, after such a lull in regional activity. It was genuinely refreshing to witness this initiative.” OECSBusinessFocus May / Jul

Eastern Caribbean Metals: “As our nations become more conversant with our vibrant and growing business sector and buy regional, so we will flourish . . . “ – ECMIL.net www.oecsbusinessfocus.com

Handmade in St. Vincent and the Grenadines, Jazzy’s All Natural Soap made from all natural Vincy Ingredients. Products include handmade soaps, body butter, lip balms, repellents and lots more.

Kendra’s Aluminium booked one exhibit and ended up building a display that took up three spaces combined and captured the atttention of many show visitors.

Grenada Exhibitors Focus On Agro-Products The delegation from Grenada showed a strong focus on food manufacturing and agro-processing, with companies such as Harvest Studio Design, Summer Limited, Marketing and National Importing Board, Grenada Association of Beekeepers, Eastern Caribbean Rum Co Ltd, White Cane Industries and Spice Isle Coffee attending the Specialty Caribbean Expo. The OECS Competitive Business Unit (CBU) mobilised several producers and service providers from within its client portfolio to participate in the Expo.

The Spice Island contingency included ‘Spice Fusion’, a brand of handcrafted products made from the nutmeg pericarp (pod). After its launch in Grenada in July 2016, the products debuted at the Specialty Caribbean Expo in Saint Lucia from March 9 - 12, 2017. These products are the result of a project implemented by Grenada Investment Development Corporation (GIDC) financed by the Caribbean Aid For Trade And Regional Integration Trust Fund (CARTFund). Genesis Added Value Co-operative Society Limited is the co-operative formed to operate the business. ¤

Ipswich Antwerp La Pallice

Caribbean Line

Setubal

Dominican Republic

Haiti

St. Martin Guadeloupe Martinique St. Lucia Barbados Trinidad Guyana Surinam French Guiana (S.L.M.) Brazil (Macapá)

OECSBusinessFocus May / Jul

We Are TEPA

Trade

In Goods & Services

We Are TEPA

The Saint Lucia Trade & Export Promotion Agency shares its Mandate, Mission And Function Saint Lucia TEPA is the lead agency mandated by the Saint Lucian Government to spearhead the island’s national export development effort. The overall objective of the agency is to increase aggregate volume and value of exports from Saint Lucia. A new vision has been cast to create the institutional arrangements that provide the best quality and most relevant services for the development of the private sector, and to optimise Saint Lucia’s export opportunities.

The Trade Export and Promotion Agency provides a range of information and support to local businesses and international buyers. Saint Lucia TEPA works to promote and expand business in export markets around the world. We aspire to increase exports and to assist local businesses improve their profitability and long term sustainability, thus making a direct and valuable contribution to the Saint Lucian economy.

The Business Of Growing Businesses

TEPA’s Core Functions • Serve as a focal point for exports through advocacy, information dissemination and public education; • Undertake policy coordination for export development; • Coordinate the trade/export services network; • Assume overall responsibility for the coordinating, monitoring and evaluation of the national export development strategy; • Undertake future strategic planning for exports; • Carry out the function of export promotion and marketing at the national level.

TEPA has developed a comprehensive, user-friendly, up-todate, effective trade information network and system, which serves as a repository for the processing and utilisation of relevant export- and trade-related data. In so doing they have become a solid resource for local exporters and foreign importers on everything they need to know about products and services available in Saint Lucia. Exporters can be advised on markets and their requirements, while buyers can see the best available for purchase in Saint Lucia.

Export Facilitation

The trade information system consists of various tools and information products scattered throughout the TEPA website and available at their office.

TEPA is charged with improving the legislative, regulatory, administrative, fiscal, and business framework, to ensure a greater level of responsiveness to and an increased facilitation of export development endeavours. In short, they are responsible for guiding Saint Lucia exporters with best practices, advising the government and exporters on trends and changes in world trade, and ensuring that the umber of exporters and export volumes increase. We pursue excellence in service delivery, attempting to surmount the trade barriers that negatively impact exports, and in general to overcome the often cumbersome, timeconsuming, costly and unpredictable administrative processes that impede trade and export development

Business/Export Development Support • Provision of enterprise development assistance (technical and otherwise) to support export development; • To contribute to the national export development effort by supporting export-ready firms and others with the potential for development in high value, strategic export sectors

Trade Promotion/Export Marketing • Employing innovative approaches to explore and exploit new and existing export markets; • Project and promote Saint Lucia as a reliable supplier and exporter of excellent products and services. OECSBusinessFocus May / Jul

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OECSBusinessFocus Jan May//Mar Jul | 55

Trade

In Goods & Services

Capacity Building - Learning on the Job

Capacity Building Learning On The Job

At most trade shows, you can expect the excitement to revolve around cool displays, innovative products and the showmanship of sharpened sales people. But for TEPA’s Anthony John, behind the scenes at March’s Specialty Caribbean Expo was where the real buzz was to be found. Although ‘capacity-building’ may not be the sexiest sounding component of the event, to the exhibitors and the agencies who facilitated the expo, improving the skill base of entrepreneurs and business-owners is crucial for the future growth of trade in the OECS. A traditional element of the best international trade shows, training workshops are often an important draw for exhibitors who take the opportunity to increase and update their knowledge, learn about best practices, new trends and business methods. The programme of capacity-building activities for the OECSBusinessFocus May / Jul

Specialty Caribbean Expo was “unique” and as diverse as the rosta of exhibitors, with five workshops for business owners and one specifically geared to the Business Support Organisations (BSOs) whose role it is to facilitate ‘trade and export’ in the wider context. “We tried to strike a balance by providing a range of workshops for exhibitors and also include the organisations that provide a level of support for trade and export. The topics included ‘Exporting to Cuba’, conducted by our partner the OECS; ‘Roadmap To Exporting Your Services’ which was facilitated by the Saint Lucia Coalition of Services; ‘QMS In A Nutshell’ was held by our client Moz Inc; our principle sponsor Amerijet hosted ‘Exporting: What Does It Entail’; and the British Caribbean Chamber of Commerce sponsored ‘Exporting to the UK and European Union’. www.oecsbusinessfocus.com

Support organisations had their moment too, as ICT Geneva delivered training for members of BSOs from Grenada, St. Vincent and Saint Lucia at an unprecedented event which was very wellattended. The subjects dealt with in all the capacity-building activities very much reflected the role of support played by Saint Lucia’s TEPA and other OECS export and trade agencies, fulfilling the passionate objective of not only providing the platform to showcase and connect, but continually strengthening the foundation of knowledge and skills in the local private sector. By tackling the common problems faced by exporters across the region, lessons can be learned and pitfalls avoided. But it certainly wasn’t just about classroom learning and traditional workshops. Here again, TEPA sought to bring innovation to the mix, especially where the creative arts, media and entertainment were concerned. Apart from the musical showcase staged by way of audition for a U.K. jazz and blues festival, the Caribbean Specialty Expo brought in new activities like the film-makers’ workshop and boot camp conducted by a British film-maker from Grand Independence UK, which resulted in a pop-up cinema screening of their work at the show. One of the surprise successes of the event came in the form of a ‘Music Masterclass’, which the TEPA team joke was an idea that came about “on the fly”. Former international runway model,

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our own Denise Lay spent weeks before the event coaching Saint Lucian models and offering advice about entering the fashion industry. According to Anthony John, “the advice and her own story helped them tremendously, and the response to the fashion show from patrons and everyone at the ground was amazing.” ¤

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Trade

In Goods & Services

Exporting Saint Lucia’s Music Scene

Exporting Saint Lucia’s Music Scene Burton Agnes Jazz & Blues Festival - 30th June - 2nd July 2017 | Driffield, Yorkshire, U.K.

The Burton Agnes Jazz & Blues Festival, which began in 2007, is celebrating its tenth anniversary over the weekend of Friday 30th June to Sunday 2nd July 2017. To help them celebrate, they have invited some “very special guests from the Caribbean island of Saint Lucia, home to the internationally renowned Saint Lucia Jazz Festival.” Following Simon Cunliffe-Lister’s visit to the Caribbean Specialty Expo, the call went out on BurtonAgnes.com - “Come and enjoy the best of Saint Lucian jazz talent, with the island’s famous rum cocktails and Caribbean cuisine.” The musician and stately homeowner worked with TEPA to find some of Saint Lucia’s hottest musical talents, evaluating ten acts in a specially-arranged showcase and selecting a final line up of four, described on the website as Dynamix - Vibrant young sax-led quartet. Claudia Edward - Caribbean gem and Saint Lucian household name. Rupert Lay Quartet - Steel pans add the quintessential Caribbean edge to this jazz guitar trio. Chrycee - Soulful singer-songwriter with distinctive style. A festival organiser sourcing talent is certainly a new type of “buyer,” and according to Andrina Simon, facilitating this particular link was very exciting. OECSBusinessFocus May / Jul

“Burton Agnes is one of the most prestigious small jazz festivals in the world. We saw it as an ideal opportunity to gain exposure for our young, upcoming jazz artists in an international market, so in collaboration with the British Caribbean Chamber of Commerce, we facilitated the buyer to come to the expo in Saint Lucia. The idea was for him to assess some of our young artists and audition them for the jazz festival, so we worked with the Ministry of Culture to put on a showcase of ten artists, which became part of the entertainment for the exposition.” Cunliffe-Lister shortlisted a surprising seven artistes from the lineup, and the successful final four will travel to the U.K. with TEPA representatives in June to perform throughout the weekend of the Burton Agnes Jazz & Blues Festival, with Saint Lucia Distillers stepping up to provide the festival-fuelling rum. There will also be an exhibition of Saint Lucian art in the gallery at Burton Agnes Hall throughout the summer, offering local artists exposure to more than fifteen thousand of the fifty-five thousand visitors who flock to the stately home every year. For TEPA, the facilitation of traditional export trade is becoming more complex, diverse and exciting than ever before, with skill and talent-based exports requiring a new approach to selling the intangible. The agency is hoping that success stories like the Saint Lucia / Burton Agnes initiative will be an important feature of future expositions and export strategies. ¤

www.oecsbusinessfocus.com

Stately Home Of Jazz Burton Agnes Hall is a house of immense charm and character. It has many unusual features and is fortunate in suffering so little from alterations or additions in its history. Since the Norman Manor House was built by Roger de Stuteville in 1173 the property has never changed hands by sale, though it has passed from family to family on occasions when the male line has ended. The beautiful proportions of the Hall and its adherence to the principles of Tudor Renaissance architecture (Commoditie, Firmness and Delight) confirm that a professional hand drew up the designs. The architect was in fact Robert Smithson - Master Mason to Queen Elizabeth I and builder of such other famous houses as Longleat, Wollaton and Hardwick. It is the only Smithson house where the plan still exists, in the RIBA collection. In his definitive book on the Smithsons, Mark Girouard called Burton Agnes a ‘splendid and glittering composition’.

Burton Agnes Rocks! ‘Now this is a proper music festival.’ The Times ‘Possibly the most enjoyable jazz concert I’ve ever attended’ The Independent ‘They say that good things come in small packages. This may be one of the summer’s smallest gatherings, but it’s also one of the most sophisticated...’ Daily Mail One of The Daily Telegraph’s Best Festivals for the Over-50s.

Caribbean Awnings

OECSBusinessFocus May / Jul

Trade

In Goods & Services Why Trade Shows Still Matter For Small Business Growth

Why Trade Shows Still Matter For Small Business Growth By: Michelle Stephens The 2017 Specialty Caribbean Expo saw up to 100 exhibitors showcasing an innovative variety of products and services. Under the framework of the Organisation of Eastern Caribbean States (OECS) protocol for the free movement of people, goods and services, the Saint Lucia Trade Export Promotion Agency (TEPA) collaborated with the OECS Commission to signal the readiness for trade of OECS manufacturers and service providers. Although not on the scale of the Trinidad based Trade and Investment Convention (TIC) which is in its 18th year, the Specialty Caribbean Expo, themed “A Unique Buying Experience” in the tradition of “The Great Exhibition” of 1851 (the world’s first international expo), acted as the avenue for small businesses from across the OECS to drive growth through face-to-face marketing and live product demonstrations. If you are a small business or are thinking about launching a new product, here are a few insights from a survey conducted by Caribbean Strategy Inc. at the Specialty Caribbean Expo from a sample of Exhibitors: 52% of the Exhibitors indicated they wanted to build brand awareness. 35% desired to increase exports as a result of new business linkages 33% said they gained valuable insights on customer preferences 26% gained competitive intelligence on the breadth and features of product available in the OECS. What Are The Benefits Of Trade Shows?

1. Increased Brand Visibility – many trade shows have a clear value proposition and often target specific segments. These segments are interested in predetermined product categories and are motivated to familiarise themselves with brands that align to their objectives. They are open to discovering new brands and seek out product

OECSBusinessFocus May / Jul

information by having personal conversations with brand representatives and owners (in the case of a small business), collecting promotional literature and through demonstrations, samples and tastings of new and existing products. 2. Sales Lead Generation emerges through the matching of problem with solutions. Attendees have a need they want to fulfill or problem they want to be solved, and by experiencing first hand how a product or service can add value, this can shorten the purchasing cycle leading to new sales.

3. New Partnerships and long-term relationships are fostered through conversations about product features, brainstorming of ideas on product uses, feedback on improvements and introductions to key market players. These can lead to expanded manufacturing capabilities or distribution networks and even joint product development.

Michelle Stephens-Jules is a Chartered Marketer, Certified Strategy and Business Planning Professional and the Chief Strategy Officer at Caribbean Strategy Inc. She has over 15 years experience in marketing, business development and strategic planning across the Caribbean, and holds a MBA from the Edinburgh Business School. You can follow Ms. Stephens on Twitter at michellestephens@ Michst22. www.oecsbusinessfocus.com

Maximising Opportunities During The Event

1. Have a sales pitch that is clear, concise, offers a solution and emphasises value to trigger a sense of urgency in buyers i.e. I need this product or service. The sales pitch should be supported by promotional literature, a video or live product demonstration and an incentive – a tasting, product sample, discount coupon or commitment to deliver a follow-up presentation depending on the nature of the product or service.

2. Network by walking the length and breath of the exhibition floor. Visit the booths, ask product questions and exchange business cards to establish new contacts, pursue new leads and expand mailing lists for future marketing efforts. Of course, this would mean having more than one person in your exhibition team.

3. Gather marketing intelligence by proactively asking booth visitors for feedback. What do they like or dislike about the product or service? How would they use and improve the product or service? When walking the floor, pick up brochures and other promotional material from your direct competitors to assess their relative strengths and weaknesses.

IMAGE

Securing The Deal Afterwards

1. Follow up with sales leads if you made a commitment to do so with a particular company. From other conversations held and business cards gathered at the exhibition, research their businesses, products and services. Assess their needs as far as possible and rank them in order of highest potential to maximise follow-up efforts and resources.

2. Provide targeted information that describes the value your products and services can provide.

3. Offer incentives to create a sense of urgency and if your products or services allows, provide an emotional tie in to the offer, e.g. if you provide safety and security or even education solutions, dramatise your products impact sensitively.

Exel Engineering

Trade shows may not feature in the marketing strategies of many businesses today, given the sales and branding advantages in using e-commerce and the various digital marketing channels. But as the name implies, trade shows deliver the unique value of showcasing products and services face-to-face to hundreds of potential customers and prospects in one space, usually over a 2 to 5 day period. These attendees are excited to see new products, build relationships and are often empowered to make purchasing decisions. Participation in these events should be seen as an investment towards a strategic growth objective, and the selection of which trade show to participate in should be informed by the history of the event or organisers, the expected number of buyers and customers and the advertising reach of the organiser’s promotional efforts. In planning next year’s marketing budget, consider the calendar of trade shows regionally and globally, plan strategically based on your growth objectives and have fun showcasing your products and winning new business. ¤ OECSBusinessFocus May / Jul

Trade

In Goods & Services

The Ubiquitous Creativity Of The OECS

The Ubiquitous Creativity Of The OECS By:The Competitive Business Unit of the OECS Commission The OECS region is moving quickly to diversify its economy, by moving away from its dependence on primary agriculture and traditional tourism (i.e. sand, sea and sun). Like most other Caribbean islands, the sub-region has become tourism dependent, occasioning periods of crisis whenever the global economy suffers from a recession or is impacted by natural disasters â&#x20AC;&#x201C; especially storms and hurricanes. In recent times, governments from the region have been focusing on new areas of growth particularly those where we have a comparative advantage. Among the sectors driving this growth are the creative industries, ICT and in new areas of value-added to the agriculture sector. This region is well-endowed with creative talent, a high level of educational achievement and success in growing crops and livestock to feed the local population and for export. The emerging sectors therefore are linked to efforts that are utilising these attributes and vital assets to create world-class products and services for local consumption and export. The OECS Commission has been in the vanguard of efforts to nurture and provide support for the emergence and growth of these new sectors. For more than 25 years, the Commission, OECSBusinessFocus May / Jul

through its private sector development programme, has been supported mainly through various financial instruments by the European Development Fund and the governments of the OECS, the latest of which is the 10th EDF Regional Integration for Trade of the OECS that came to an end in March 2017. The OECS and the EU have played a key role as enablers for enhancing the competitiveness of MSMEs across these sectors, leading them to discover increased opportunities in domestic markets, as well as facilitating market access outside of the region. The support given by the Commission focuses mainly on addressing gaps in production, quality enhancement, business development, trade, and market access opportunities for MSME development. The recent funding cycle covered such areas as capacity building for small manufacturers and agro-processors, entrepreneurs in the ICT and creative industries sector, grant funding for SME development across value chains and market access support for export-ready firms. Sound & Music The islands possess rich and varied musical talents and vibrant rhythms influenced by their history and heritage. The rhythm is strong and the beats are varied. From indigenous genres like Bouyon and Cadence-lypso from Dominica, Soca, Calypso, www.oecsbusinessfocus.com

Dancehall and Reggae, along with world music like Jazz, Gospel and Soul, OECS music leads the way in terms of the creative sector. Music serves as a means of cultural expression and job creation, especially for young people, and helps to brand the islands as tourist destinations. The OECS Commission has been working with musicians to bring to the fore new talents and spread the word of our vibrant music culture. In 2014, a creative camp enabled a group of song-writers and producers to work on a compilation of songs, and helped to encourage and cultivate collaboration among the artistes. Recently, at the Specialty Caribbean Expo, a group of performers from the OECS created history by launching a CD compilation and performing to an audience of excited fans at the Daren Sammy Cricket Stadium. Design & Craft The vibrant colours of the OECS landscape have also helped to breathe new life into the apparel industry in the region. A new group of designers is emerging and using the culture and heritage of the region to create products for the regional and global markets. The OECS Commission has been working with these designers to improve their craft and the marketability of their products. Resources have been invested in training for designers of both garment and craft products, providing opportunities for exposure at regional fashion events and for individual designers to address issues related to the building of their enterprises. The OECS collaborated with the Association Mawonaj of Guadeloupe to facilitate a week long training in May 2016, in the design of craft and in building collections for the export markets. Film Production A new impetus has gone into telling our own stories and creating a unique sound on the small and big screens. The past two years have been dedicated to developing a cadre of script writers to craft stories that reflect the rich tapestry of our island cultures and the amazing tales of our people who have been left with a rich legacy by our ancestors. Building a new cinema and telling our stories will redound to the benefit of the society and people. The OECS has provided resources to a group of film makers to produce short films on a variety of subjects and situations. In addition, a number of film makers got the opportunity to attend the Trinidad & Tobago Film Festival to network with international film makers and to learn best practices in film and audio-visual production. Technology & Intellectual Property As the region looks to grow its emerging sectors, the focus continues to be on innovation and creativity to allow for the production of new products and services. The OECS Competitive Business Unit is working on building the necessary platforms to foster innovation and encourage creative enterprises. A Market Intelligence System (MKIS) is being built to serve as a platform for information sharing, data collection, and online business development. Simultaneously, much work has gone into capacity building for enterprises to mobilise resources through angel investment, venture capital fund, as well as crowd funding. Facilitating commerce online is part of the new strategic direction of the OECS and a great deal of effort has already gone into e-commerce and e-business, integrating new technologies, the banking sector in the region and the firms more engaged in the global business and market place. The OECS, through the CBU, held its first e-Payments Forum in the region in 2015 bringing regional partners together to assess the potential for growth

through e-commerce. The CBU also held its first ever Tech Bootcamp for emerging ICT entrepreneurs in 2016 focusing on e-business development. Intellectual Property (IP) is seen as central to creating wealth and creating more opportunities for creators and innovators in the region. As a result the OECS has focused on building awareness and sensitising SMEs on the value of IP, and driving home importance of IP in this changing global economic environment. The goal of this foundational work is to build a new culture of entrepreneurship, encouraging and fostering innovation, providing a greater focus on youth and gender related development and ensuring that IP tools are used to unlock and promote the value of assets vital to the long term sustainability of our region. Enhancing business competitiveness will require new modalities for engagement with the private sector, mobilising resources to support innovation and creativity and building capacity to strengthen the managerial capabilities of firms to produce goods and services of higher standards and quality. The 10th EDF programme provided support for a range of market access and market penetration activities. A 2014 Business and Trade Mission to Martinique and Guadeloupe set the platform for increased trade and investment exchanges between the OECS and the FCORs. Since the accession of Martinique as the newest member of the OECS, there have been several initiatives to enhance trade among the grouping and for deeper regional cooperation. Among these initiatives were: a group of agroprocessors who attended the Foire de Dilon Trade Show in Martinique in April 2016; a Services Sector Mission in June 2016 focusing on professional services; a joint initiative by the CBU and the Chamber of Commerce and Industry (CCI) of Martinique with the support of Caribbean Export plan to access resources under INTERREG targeting five (5) sub-sectors for increased trade among the islands and for enhancing the export capabilities of approximately thirty ( 30) SMEs in these sectors to other regional and international markets. The Cuban market has also been targeted for attention with business leaders and SMEs from the OECS. Ten (10) OECS companies were represented at the Havana International Trade Fair (FIHAV) in November 2016, where these regional entrepreneurs had an opportunity network and engage in trade talks with their counterparts. Through the support of the Trade Promotions Unit (TPU) of the Commission, both the goods and services sectors have been sensitised to market access opportunities and on trade agreements signed by the OECS, particularly on the Economic Partnership Agreement (EPA) between the EU and the CARIFORUM countries and the Cuba/CARICOM Agreement for Trade and Technical Cooperation. The stage is now set to build on these initiatives and to strengthen regional cooperation for enhanced competiveness in the targeted sectors. Every effort is being made to consolidate on the gains made, especially with the support from the 10th EDF programme. It is hoped that with the incoming financial instrument (11th EDF) to support development activities in the region, that the OECS Commission will be even more instrumental in forging ahead with regional cooperation and enhancing the competitiveness of firms to export to key markets while creating greater opportunities for income generation, wealth creation and social and environmental sustainability. Â¤ OECSBusinessFocus May / Jul

Trade

In Goods & Services

World Bank Flagship Report - Doing Business 2017 - Latin America & Caribbean

World Bank Flagship Report Doing Business 2017 – Latin America & Caribbean (LAC) The Business Environment Just as the overall ranking on the ease of doing business tells only part of the story, so do changes in that ranking. Yearly movements in rankings can provide some indication of changes in an economy’s regulatory environment for firms, but they are always relative. An economy’s ranking might change because of developments in other economies. An economy that implemented business regulation reforms may fail to rise in the rankings (or may even drop) if it is passed by others whose business regulation reforms had a more significant impact as measured by Doing Business. Policy makers can learn much by comparing the indicators for their economy with those for the lowest- and highest-scoring economies in the region as well as those for the best performers globally. These comparisons may reveal unexpected strengths in an area of business regulation—such as a regulatory process that can be completed with a small number of procedures in a few days and at a low cost. Starting A Business Economies around the world have taken steps making it easier to start a business—streamlining procedures by setting up a onestop shop, making procedures simpler or faster by introducing OECSBusinessFocus May / Jul

technology, and reducing or eliminating minimum capital requirements. Many have undertaken business registration reforms in stages— and often as part of a larger regulatory reform program. Among the benefits have been greater firm satisfaction and savings and more registered businesses, financial resources and job opportunities. Is It Now Easier To Start A Caribbean Business? What business registration reforms have been recorded in Caribbean countries in the past three years, and are they making it easier or harder to do business in the region? New & Improved In 2016 & 2017 Antigua and Barbuda made trading across borders easier by eliminating the tax compliance certificate required for import customs clearance. Saint Lucia made exporting and importing easier by upgrading an electronic data interchange system and linking the customs and port authorities through a common online platform. However, getting electricity became more difficult on account of a new requirement to obtain a current land registry extract before connection.

www.oecsbusinessfocus.com

67.54

Jamaica (Rank 67) 63.13

Saint Lucia (Rank 86)

60.99

Trinidad & Tobago (Rank) 96

60.27

Dominica (Rank 101)

59.35

Dominican Republic (Rank 103)

58.75

Regional Average Latin America / Caribbean (Rank 107)

58.04

Antigua & Barbuda (Rank 113)

57.42

Barbados (Rank 117)

56.65

The Bahamas (Rank 121)

56.26

Guyana (Rank 124)

55.91

St. Vincent & The Grenadines (Rank 125) St. Kitts & Nevis (Rank 134)

53.76

Grenada (Rank 138)

53.75 38.66

Haiti (Rank 181) 0

Distance to frontier score

Grenada made trading across borders easier by streamlining import document submission procedures, reducing the time required for documentary compliance Guyana improved access to credit information by expanding the coverage of the credit bureau, and made registering property easier by increasing the transparency of the Lands & Survey Commission Jamaica reduced the time of documentary compliance for exporting by implementing an automated customs data management system, ASYCUDA World. Jamaica also made paying taxes less costly by increasing tax depreciation rates and the initial capital allowance for assets acquired on or after January 1, 2014, and made paying easier by implementing an electronic system for filing of corporate income tax, VAT and social contributions. St. Vincent and the Grenadines made resolving insolvency easier in 2016 by introducing a rehabilitation procedure, introducing provisions to facilitate the continuation of the debtorâ&#x20AC;&#x2122;s business during insolvency proceedings and allow creditors greater participation in important decisions during the proceedings; and establishing a public office responsible for the general administration of insolvency cases. Saint Kitts and Nevis reduced the stamp duty for transferring real estate. Dominica made paying taxes less costly by reducing the corporate income tax rate. Â¤ For the full World Bank Flagship Report go to WorldBank.org.

OECSBusinessFocus May / Jul

CARTAC/ECCB Workshop on Caribbean Financial Market Infrastructure

Trade

In Goods & Services

The WTO Trade Facilitation Agreement & the Free Circulation of Goods within the OECS: A Regional Approach to Implementation

The WTO Trade Facilitation Agreement And Free Circulation of Goods: An OECS Approach By: Mr. Cosbert Woods Programme Officer, Trade Policy Unit, OECS Commission

The Trade Facilitation Agreement On February 22, 2017 the World Trade Organisation (WTO) Agreement on Trade Facilitation entered into force when twothirds (110 Members) of the WTO membership ratified the Agreement. The Trade Facilitation Agreement (TFA), which was concluded in December 2013 at the 9th Ministerial Conference in Bali, aims to clarify and improve multilateral trade rules on (i) Fees and formalities connected with Importation & Exportation, (ii) Publication and Administration of Trade Regulations, and (iii) Trade in Transit. Through improvements in these trade rules, the intention is to (a) expedite movement, release and clearance of goods; (b) strengthen cooperation between Customs and other border and regulatory agencies; and (c) enhance technical assistance and capacity building support for developing countries like the OECS Member States. The TFA contains thirty-five (35) technical measures which are geared toward better facilitation of trade among WTO Members. The Agreement also contains provisions that grant special and differential treatment to developing and least-developed country Members to spread the implementation of these measures over three (3) categories. Another important feature of the TFA is the provision of Article 24.5 which allows Members of a Customs Union, or regional economic arrangement such as the OECS and CARICOM, to adopt regional approaches to assist in the implementation of their obligations under the agreement. Therefore, the implementation of the TFA is also a strategic step for the OECS Member States toward facilitating the free circulation of goods in the OECS Economic Union, which will allow goods to OECSBusinessFocus May / Jul

move between Member States without the imposition of import duties and charges and import formalities.

The Current Trading Environment in the OECS

The OECS Economic Union comprises small, open economies which are heavily dependent on trade and foreign investment. They are net importers of goods and net exporters of services. Small domestic production bases and internal markets necessitates that the Members trade with each other and third country partners. However, they typically operate a trade deficit in terms of their performance within bilateral trade agreements. Therefore, the competitiveness of the OECS is linked heavily to the efficiency with which it is able to trade. Currently, goods imported into the OECS Economic Union, and goods traded between its Members, are subjected to a number of physical, technical and fiscal requirements which include several documents; multiple

Mr. Cosbert Woods

Programme Officer, Trade Policy Unit, OECS Commission www.oecsbusinessfocus.com

agency approvals; physical inspections of goods; licenses and permits; Customs duties and other related charges. In many instances, these requirements are still manually executed due to the non-existence of a paperless environment to facilitate import procedural requirements.

A regional approach to implementation In light of this, the TFA provides a number of measures to mitigate existing non-tariff barriers as well as enhance trade facilitation initiatives, which can be implemented using regional approaches. Furthermore, the cost implications of implementing some of these measures necessitates that the OECS utilise a regional approach to implementing obligations such as risk assessment, advance rulings, single window and enquiry points. These regional approaches are critical to the establishment of a regional border management system for the OECS Customs Union, as well as the removal of import formalities to facilitate goods circulating freely among Member States. Regional approaches adopted for the implementation of the TFA must take account of differences in levels of compliance and readiness among the Member States to implement the Agreement. Therefore, sequenced, co-ordinated regional approaches must be geared toward developing optimal levels of capacity and functionality across the Member States in order to better facilitate international and intra-regional trade. Moreover, Member States that are more advanced with their implementation processes can share experiences and best practices with those states that may require a longer time for implementation.

The implementation of the TFA and facilitation of the free circulation of goods in the Economic Union requires continuous access to technical assistance and support for building capacity of Customs and Border Agencies. Therefore, a regional approach should also be adopted to avoid duplication of donor interventions at the national level and streamline donor resources and technical assistance at the regional level where possible. It is imperative that Member States take ownership and drive their national and regional trade facilitation agendas and determine where donor agencies are best equipped to advance their interests in a strategic manner. In closing, the OECS must view implementation of the TFA, not simply as the implementation of a WTO commitment, but as part of the broader regional integration agenda and strategic priorities of the Economic Union to establish a Custom Union and Common Market, facilitate free circulation of goods and build economic resilience. Therefore, the implementation of TFA measures will require careful co-ordination between the public and private sector as well as the support of the political directorate. More importantly each regional approach to implementing measures under the TFA must be geared toward improving the competitiveness of SMEs, reducing institutional and procedural inefficiencies, improving consumer satisfaction and safety, creating job opportunities, enhancing commercial activity at the national level and facilitating greater participation in the regional and global value chain. Â¤ For more information on the Trade Facilitation Agreement and Free Circulation of Goods Contact cwoods@oecs.org

Grenada Steel Works Ltd.

OECSBusinessFocus May / Jul

Trade

In Goods & Services

OECS Commission Working With Partners Towards Improved Customs Procedures

OECS Commission Working With Partners Towards Improved Customs Procedures OECS Engages Private Sector Stakeholders On WTO Trade Facilitation Agreement

The CARICOM Secretariat, with support from the Hubs and Spokes II Programme, the World Bank Group and the OECS Commission have been working to implement the World Trade Organisationâ&#x20AC;&#x2122;s (WTO) Agreement on Trade Facilitation (TFA) as the region continues improving the climate for doing business. The consultations to progress the agreement were convened in Jamaica from the 19 â&#x20AC;&#x201C; 20th April. The intensive two-day consultative dialogue sensitised private sector stakeholders on the potential benefits of the TFA to the business community, and provided an opportunity for feedback and input on a number of regional approaches to strategically implement key trade facilitation measures outlined within the Agreement. The Consultation was attended by senior executives and representatives of Chambers of Commerce and other Business Support Organisations (BSOs) within CARICOM as well as the Caribbean Association of Industry and Commerce (CAIC). Representatives from the OECS Commission and CARICOM Secretariat facilitated sessions on (a) the Regional Agenda for OECSBusinessFocus May / Jul

Trade Facilitation and (b) Engaging the Private Sector in Policy Dialogue. The Commission also made a presentation to participants on Trade Facilitation Reforms in the context of the OECS Economic Union Area. The presentation highlighted the strategic link between the TFA and the Free Circulation of Goods within the Economic Union and underscored that a regional approach to implementing the TFA would maximise the benefits to be derived by OECS Member States and wider CARICOM Community. The private sector representatives applauded the joint efforts of the OECS and CARICOM Secretariats for the regional initiative and for moreover convening a dedicated session for the private sector, who are directly involved in conducting trade and business activities. Representatives also stressed the need for meaningful privatepublic dialogue at the national and regional levels to foster trust among all stakeholders and ensure effective co-ordination www.oecsbusinessfocus.com

and implementation of the TFA and trade facilitation reforms on a whole. Representatives further emphasised the need for political will of the Region’s Governments to undertake full and effective implementation of the TFA and other Bi-lateral Trade Agreements to ensure that the “Market Access” negotiated leads to actual “market penetration”. Regional Activities Representatives accorded highest priority to regional activities to support implementation of Electronic Single Window systems followed by regional approaches to support implementation of TF Measures on Customs Fees, Publication, Risk Management, Post Clearance Audit, Authorised Economic Operators and Test Procedures. These measures were seen as most critical for

The WTO Trade Facilitation Agreement seeks to improve multilateral trade rules for: (i) Expediting movement, release and clearance of goods; (ii) Strengthening cooperation between Customs and other border and regulatory authorities; and (iii) Enhancing technical assistance and capacity building support for developing countries like the OECS and Less Developed Countries. ¤

(a) reducing clearance time and cost; (b) simplifying import and export procedures; (c) improving understanding and predictability of import and export procedures; and (d) reducing risk and threats of dangerous and counterfeit products to consumers. Going forward, the OECS and CARICOM Secretariat will incorporate the private sector priorities into the Regional Strategy in order to finalise it and present to the Council of Trade & Economic Development (COTED) for approval.

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Trade

In Goods & Services

Trade And The Sustainable Development Goals

The Role Of Trade In The Implementation Of Sustainable Development Goals By: Norma Cherry-Fevrier

Since the Rio Conference in 1992, trade was identified as a means for promoting sustainable development. Agenda 21 states “… moreover, improved market access for developing countries’ exports, in conjunction with sound macroeconomic and environmental policies, would have a positive environmental impact and therefore make an important contribution towards sustainable development.” Essentially, this means that environment and trade policies must be mutually supportive to achieve sustainable development. Trade has been identified as one of the key areas where partnerships need to be strengthened in order to make progress in achieving relevant targets under the SDGs. Means of implementation such as finance, capacity building and environmentally sound technologies can assist countries with OECSBusinessFocus May / Jul

progress towards achieving sustainable development. Similarly, the United Nations Conference on Trade and Development (UNCTAD) notes that trade is expected to catalyse inclusive economic growth and poverty reduction, and contribute to the promotion of sustainable development. The Addis Ababa Action Agenda of 2015 further supports the linkage between trade and sustainable development by stating that “sustainable development will be integrated into trade policy at all levels.” The Action Agenda also reiterates the vulnerabilities of small island developing states (SIDS) and confirms strong support towards their engagement in trade and economic agreements and fuller integration into regional and world markets. It can then be asked: How can the linkage between trade and sustainable development contribute to OECS Member States’ efforts to achieve the SDGs? www.oecsbusinessfocus.com

Cognizant of the particular vulnerabilities of SIDS, including not being able to mass produce, this may need a new approach for the OECS Region’s policy-making, that encourages trade growth, as a contributor to economic growth and increases how the three pillars of sustainable development—economic, environmental and social—are interconnected.

achieving SDG 1 – ending poverty and SDG 2 – ending hunger, as their associated targets are viewed as highly integrated.

UNCTAD in 2016 noted that the focus on trade policy needs to shift from a quantitative to a qualitative one, not centred on how much to trade, but on how to trade. As well, market access which forms part of a country’s trade policy, does not only make trade equitable and mutually advantageous, but can influence consumer welfare and country’s economic viability.

In the new regime, at the macro level, trade policies in the OECS Region therefore need to tackle poverty, seek to maximise the potential of regional trade and integration, and strengthen trade in services. In addition, inputs such as investments in industry and resilient infrastructure should result in outputs such as innovation and industry that can contribute to reducing the region’s reliance on imports.

Implementing qualitative approaches and approaches that improve market access are vital since they can ultimately contribute to increased investment that can enhance production. Increased export earnings can consequently help upgrade technology required to produce higher levels of added value to goods and services and boost productivity. In the 2030 Sustainable Development era, this advantageous interaction between trade and investment should therefore help to transform economies by creating jobs, promoting decent work and economic growth, developing skills, building resilient infrastructure, promoting inclusive and sustainable industrialisation, fostering innovation, ensuring sustainable consumption and production patterns and reducing inequality in and among countries which are directly linked to SDGs 8, 9 and 10 and 12. Moreover, SDG 17 calls for key partnerships in areas including trade as one of the key means of implementation that needs to be strengthened to revitalise the global partnership for sustainable development. Achieving these goals will also contribute to

People, planet, prosperity, peace and partnership are at the core of the new agenda for global action towards sustainable development.

All things considered, innovation and niche marketing may provide the answers to addressing our challenges and particular vulnerabilities to help the region pursue sustainable development. ¤ Norma Cherry-Fevrier is a Programme Officer with the OECS Environmental Sustainability Unit. She holds a BSc. in Economics (UWI), a MSc. in Natural Resource and Environmental Management Water Resources Management (UWI), a PgCert in Project Planning, Appraisal and Management (University of Bradford) and is a Certified Project Management Professional (PMP).

OECSBusinessFocus May / Jul

Tourism: A Key Export in the OECS

Trade

In Goods & Services

Tourism: A Key Export In The OECS By: Dr. Lorraine Nicholas

In general, many persons do not consider tourism to be an export, given that the main activities associated with tourism are undertaken at the destination. Tourism is, however, a lead export in the OECS region, generating more foreign exchange than many other exports. In fact, the OECS region generates a surplus on services exports, principally on account of tourism and travel. As such, the services sectorâ&#x20AC;&#x2122;s economic and trade performance is dominated by tourism and travel as well as other sectors such as financial services. Notwithstanding, the balance of the services trade in the region, outside of the tourism sector, has perennially experienced a deficit, underscoring the heavy reliance on tourism as the key driver of services exports. Table 1 illustrates this reality.

Debit

Net

6, 281.48 6, 236.95 44.53

(5, 066.91) (5, 226.38) 0.57 158.90

5, 544.50 2, 591.57 978.30 548.33 491.43 3, 773.62 101.87 308.92 574.93 732.25 545.75 80.67

2,952.93 (429.98) 3, 282.20 (207.05) (157.32) 465.08

Goods 1, 214.58 a. Merchandise 1, 010.57 b. Repair on Goods 0.57 c. Goods procured in ports 203.43 by carriers Services a. Transportation b. Travel c. Insurance Services d. Other business services e. Government services

Overnight Visitors

Cruise Visitors

Spend Spend/ ($m) Night ($)

Anguilla

70,927

6,000

131

246

Antigua

249,316

519,000

299

120

British Virgin Islands

386,127

360,890

432

181

Dominica

81,511

287,000

126

221

Grenada

122,372

235,000

123

112

Montserrat

8,804

400

155

St. Kitts and Nevis

113,013

695,000

110

Saint Lucia

338,158

641,000

370

124

70,713

132,000

100

1,440,902 2,876,290

1,693

132

St. Vincent and Grenadines Source: UNWTO

Source: WTTC

Source: ECCB Despite their close proximity, the magnitude and type of tourism development in each OECS territory varies considerably. Overall, in 2014, there were over 1.4 million overnight tourist visits and almost 2.9 million cruise visitors to the OECS countries. These visitors (including any additional day visitors) spent almost US$1.7 billion with the average spend per night of tourists (overnight visitors) being US$132. The World Travel & Tourism Council (WTTC) estimates that tourismâ&#x20AC;&#x2122;s direct contribution to GDP is greatest in the British Virgin Islands, at over 30%, followed by Anguilla at just under 20%, and Antigua and Barbuda at around 15%.

OECSBusinessFocus May / Jul

Country

Total

Table 1.

Balance of Payments for the Eastern Caribbean Currency Union (ECCU) in Millions of Eastern Caribbean Dollars (2016) Credit

Table. 2

Tourism in OECS Countries, 2014

Dr Lorraine Nicholas holds a BSc. in Tourism Management and an MSc. in Tourism and Hospitality Management from the University of the West Indies. She is a Fulbright Scholar with a PhD. in Tourism Management from the University of Florida. She is the Tourism Specialist, in the Economic Development Policy Unit at the OECS Commission.

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Figure 3 shows the share of overnight visitors (tourists) amongst the nine OECS countries. British Virgin Islands and Saint Lucia accounted for one-half of all tourist arrivals, and these two countries with Antigua accounted for two-thirds of all arrivals.

The average spend per night of overseas visitors is a good indication of the return on marketing. Table 3 below shows that Anguilla tops the list with US$246 per overnight tourist per night (based on data reported to UNWTO by the national tourism administrations for each country).

Country

Spend/Night ($)

Anguilla

246

Antigua

221

British Virgin Islands

181

Dominica

155

Grenada

124

Montserrat

120

St. Kitts and Nevis

112

Saint Lucia

100

St. Vincent and Grenadines

Source: UNWTO Note*: estimate, as length of stay data not available Source: UNWTO

The distribution of cruise visitors is slightly different to overnight visitors (see Figure 4), with St. Kitts and Nevis and Saint Lucia accounting for almost one-half (46%) of all visitors. Adding in Antigua, these three countries accounted for almost two-thirds of all visitors.

The WTTC has carried out modelled economic estimates for eight of the OECS counties (Montserrat is excluded) in 2015. A summary of their key findings is presented below. WTTC estimates greatest tourism consumption being in the British Virgin Islands (around EC$ 2 billion), Antigua and Barbuda, and Saint Lucia.

Source: WTTC Contribution from travel and tourism is also estimated to be the greatest in British Virgin Islands, Antigua and Barbuda and Saint Lucia. Figure 5 shows direct, indirect and induced contribution, which is estimated by the WTTC model. It should be noted that TSA methodology only calculates direct economic contribution from tourism. Â¤

Source: UNWTO

OECSBusinessFocus May / Jul

Trade

In Goods & Services

Improving Trade and Investment Flows in the OECS Economic Union

Improving Trade And Investment Flows In The OECS Economic Union By: Clarence Henry, Economist and Programme Officer, Regional Integration – OECS Commission

Promoting economic growth, development and international competitiveness through the convergence and coordination of the economic policies of Protocol Member States is a fundamental objective of the Revised Treaty of Basseterre (RTB), which established the Eastern Caribbean States Economic Union (OECS Economic Union). Achieving convergence and coordination in economic policies will help achieve other RTB objectives such as improving inter-sectoral linkages and standard of living, and reducing poverty. The efforts toward establishing a Free Circulation of Goods Regime are therefore in keeping with the need to achieve economic policy convergence. However, given that intra-regional trade accounts for a fraction of all trade in the OECS Economic Union, enhancing trade and investment flows within the OECS would require a further examination of the business climate and, in this regard, the adoption of well thought-out economic policy. A starting point is the examination of the OECS’ performance in the Ease of Doing Business Ranking published by the World Bank.

OECSBusinessFocus May / Jul

The Protocol Member States, not including Montserrat, have seen a decline in the Ease of Doing Business Ranking over the last 10 years (figure 1 provides a review of the ranking over the last six years). In particular, the average ranking for these economies has declined from 56 in 2007 to 116 in 2017. Notwithstanding this reality, however, it is important to be cognizant of the resilience of the OECS economies over the last two decades. Economic policy convergence must seek to examine the challenges within the single economy that give rise to the declining Ease of Doing Business Ranking and that further constrain trade and investment flows. This article will focus on the cost of operating a business within the OECS Economic Union. The Ease of Doing Business Ranking features various indicators that provide details on the cost of operating a business. Several such indicators are highlighted in this piece – cost associated with starting a business; cost associated with getting electricity; and cost of trading across borders (exporting and importing). (Table 1 provides a snapshot of the data for 2017).

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Reducing the cost of doing business within the OECS Economic Union is important in order to enhance the global competitiveness of the economies operating within the single economy. This is the channel through which trade and investment flows can increase. Given the expected positive outcomes associated with trade and investments – in terms of income and employment growth, this is also a channel through which economic growth, development and standard of living are increased and poverty reduction is achieved. Economic policy convergence will therefore be helpful in this regard.

Cost Associated With Starting A Business Streamlining the regulations and procedures for setting up a business within the OECS Economic Union will help reduce the time and the per capita cost associated with starting businesses. Establishing an environment of free circulation of goods is one of the measures toward achieving policy convergence for promoting trade and investment flows.

Cost Associated With Getting Electricity

Cost Of Trading Across Borders

The cost associated with getting electricity is a major challenge for businesses, given that it represents a substantial input cost. Consequently, successful efforts at reducing this cost for businesses will ultimately be good for trade and investments.

Reducing the cost associated with trading across borders would also require long-term policy measures. Improving the transportation options available to traders and enhancing the efficiency of the ports in the OECS are two areas where there should be economic policy convergence aimed at improving and reducing the cost associated with cross border trade.

Taking into consideration the fact that these OECS economies are major importers of oil – the key input in the production of electricity – and the international price volatility associated with this natural resource, policy measures should look toward a longterm solution. The OECS Economic Union, given that it leads to an increased market size and associated economies of scale, may present an opportunity to address this matter by adopting a regional approach to reduce the reliance on foreign oil and increase the use of alternative energy sources that are cheaper and more environmentally friendly.

Improving trade and investments within the OECS Economic Union would require regional policy approaches. While there are many other related areas to be examined, addressing the cost of doing business in the OECS is an area that undoubtedly requires attention. Any successes in this regard will help improve international competitiveness, create employment, improve standard of living, reduce poverty and enhance economic growth and development – key objectives of both the RTB and the Sustainable Development Goals (SDGs). ¤

OECSBusinessFocus May / Jul

Trade

In Goods & Services

OECS Shipping Initiative – An Agri-Export Strategy

OECS Shipping Initiative – An Agri-Export Strategy By: Sunita Daniel, FAO Liaison Officer, OECS Commission

The agricultural sector in the OECS region continues to play a critical role in our efforts to reduce poverty, ensure food security and sustain livelihoods for large numbers of persons in our rural populations. This sector has been plagued with challenges in recent times, however, with the removal of preferential treatment for goods exported to traditional markets – particularly the United Kingdom, the absence of consolidated marketing by OECS producers for export, and the debilitating vagaries of climate change. It is against this backdrop that the OECS Commission, working with Ministers of Agriculture in Member States, farmers, exporters, ship owners and the Food and Agriculture Organisation of the United Nations (FAO), has formulated an Agri-Export OECSBusinessFocus May / Jul

Strategy to facilitate greater intra-regional trade of agricultural commodities. This initiative is expected to reduce our sub-regional food import bill and create a sub-regional market for agricultural produce from Member States. It is the intention that countries establish production platforms for their agricultural commodities that have a competitive advantage and, applying the banana export model, consolidate agricultural commodities produced in the sub-region in order to occupy greater market share in extraregional traditional markets. Traditional shipping in the OECS is characterised by an informal sector, defined by small vessels serving the island states in an www.oecsbusinessfocus.com

inefficient and unreliable manner. An ad hoc and unregulated schooner system operates in the region, trading in roots, tubers, fruits and vegetables. This service must be transformed in order to facilitate a sustainable intra-regional shipping mechanism as unreliable and inefficient shipping arrangements affect both production and marketing of agricultural produce, thereby making the sector uncompetitive. In an effort to create a more effective and efficient system, an OECS shipping study was undertaken in 2010. The results of this study informed the creation of an Eastern Caribbean Shippers Pool (ECSP) as a legal entity, which was supported by Compete Caribbean and the Caribbean Development Bank. The ECSP was registered in 2014 as a regional organisation of small vessel owners with the express purpose of improving the viability and competitiveness of their business operations. The response of the private sector at the time halted continued progress of the project. The current shipping initiative builds on previous efforts and has incorporated new elements, such as direct involvement of private sector buyers, shippers and farmers to ensure concrete results. Currently two vessels are being utilised for the movement of agricultural produce in the sub region â&#x20AC;&#x201C; the MV Sea Rambler and the MV American Liberty. These vessels have facilitated the movement of agricultural produce from as far south as Trinidad, to as far north as St. Maarten. To date, the OECS Commission has recorded success in key areas, including: 1. A commitment from ship owners in the US and the British Virgin Islands to embark on a pilot project for the movement of agricultural commodities throughout the region. This has started with St. Vincent and the Grenadines being the hub and six voyages have been successfully completed. 2. A completed analysis of the supply, demand and prices for agricultural commodities within the sub-region. 3. The establishment of point persons within the Ministries of Agriculture in each Member State to provide current marketing information. 4. The pilot study has already led to the re-establishment of agro-packaging facilities in St. Vincent and the Grenadines which were hitherto closed (Lauders Agro-processing Centre). 5. Fortnightly shipments of agricultural produce from St. Vincent and the Grenadines to Trinidad and Tobago and weekly to St. Maarten. 6. Development of a web-based application to connect farmers, traders, hotels and supermarkets through a virtual platform. 7. A private sector agreement between a Trinidad-owned company, Bunny Imports and Exports, to create intra- regional linkages for marketing and shipping of agricultural commodities. 8. The FAO has established a framework to enhance the working relationship between stakeholders in the agricultural sector in the sub-region. The OECS Commission is excited about the potential of this initiative and arrangements are being made for all Member States to fully participate in this movement to reduce poverty and create wealth in the OECS countries through strengthening and utilising opportunities in intra-regional agri-exports. Â¤ OECSBusinessFocus May / Jul

Trade

In Goods & Services

US, EU Food Standards Major Hurdle For Caribbean Exporters

US, EU Food Standards Major Hurdle For Caribbean Exporters As Caricom countries struggle to move away from their traditional reliance on a single industry or major crop in the face of growing economic uncertainty worldwide, they are finding it increasingly difficult to enter markets in the EU and North America with new types of food products. But tariffs are no longer the main barriers to accessing important markets, according to a document produced by the ACP-EU Overcoming Technical Barriers to Trade (TBT) programme. The ACP-EU is of the view that “Non-tariffs barriers will become the main challenge of the future multilateral trade system.” Specifically, technical barriers related to compliance with sanitary and phytosanitary standards (SPS) in export markets and other standards including those relating to labelling and packaging. The EU considers these technical, non-tariff, barriers to trade so challenging for its African, Caribbean and Pacific (ACP) partners that it provided 15 million euros starting in 2013 to help those developing countries upgrade their processes and become compliant, thus giving them a better chance of success on the EU and North America markets. The Caribbean Agribusiness Association (CABA) is one Caribbean organisation that was able to access funding to help its members move toward HACCP (Hazard Analysis and Critical Control Point) certification, which the ACP-EU TBT programme identified as a crucial requirement. Since the early 2000s, the US and EU have stipulated that foods entering their markets must have HACCP certification. Ten of CABA’s members were present at a regional conference, held at the Radisson Hotel in Port-of-Spain Jan. 29-30, to report on the benefits they received from the HACCP training. They OECSBusinessFocus May / Jul

heard some sobering statistics with regard to the EU and US food industry that provided context for the TBT programme. Dr. Andre Gordon, chief executive officer of TSL Technical Services Limited, told delegates that each year, the UK records approximately one million cases of food-borne illnesses, of which about 20,000 require hospitalisation, and 500 deaths are recorded. The cost to the UK of dealing with food-borne illnesses is 1.4 billion pounds annually. In the US, approximately 48 million cases of foodborne illnesses are recorded annually, resulting in 128,000 hospitalisations and 3,000 deaths. The cost to the US of dealing with food-borne illnesses is approximately 77.7 billion dollars annually, the delegates heard. The 2016 report, “Addressing Food Losses due to Non-Compliance with Quality and Safety Requirements in Export Markets: the case of Fruits and Vegetables from the Latin America and the Caribbean Region,” by two Food and Agriculture Organisation (FAO) experts, underlined how much is at stake for Caribbean agribusiness exporters. The report reveals that Latin America and the Caribbean (LAC) provide over 90 per cent of the fruits and nearly 80 per cent of all vegetables imported by the US. Nonetheless, some countries in the region have “very high rejection rates” at US ports of entry, including Jamaica, Bolivia and the Dominican Republic, the document states. The report said, “While many LAC countries have a good rate of acceptance in comparison with other countries exporting to the USA and EU, a few countries within LAC perform very poorly, revealing great disparity in preparedness for export trading within the region.” The report noted that “Multiple handling www.oecsbusinessfocus.com

failures along the chain are likely the cause of the most frustrating complaints by international buyers.”

countries in preparing for compliance. It also imposes extra costs on investors and exporters and creates uncertainty for them.”

Dr. Gordon, who oversaw the Jamaica ackee industry’s transformation that made it compliant with US Food and Drug Administration regulations in the early 2000s so that it could gain access to the US market, explained to IPS the obstacles facing Caribbean exporters.

However, the paper’s author concluded, “while the cost of compliance is high, the cost of lack of compliance is even higher” because of loss of market share or reduced access to markets.

“The problem in general with all agribusiness companies in the Caribbean is typically lack of technical capacity and knowledge of the requirements and lack of the resources to implement the systems as required,” he said. However, Dr. Gordon said, “The cultural change that is required is probably the biggest single limitation to implementing and sustaining certification systems … If the management and ownership [of agribusinesses] do not have a vision of becoming global players then the effort and resources required are going to seem unattainable and not good value for money. A lot of firms have issues with understanding the value for money proposition of embarking on a certification programme.” The briefing paper “SPS Measures Lead to High Costs and Losses for Developing Countries”, published not long after the EU mandated HACCP certification for all exporters to the EU, noted “as the income level of developing countries is far smaller, … the opportunity cost of compliance is relatively far higher than that for developed country exporters. “The rapid change in SPS measures, regulations and notifications of new regulations is another problem facing developing

Dr. Gordon revealed that in 2010, the Caribbean had the second highest level of food rejections of any region at US ports of entry. A March 2016 FAO report highlighted other issues hindering Caribbean agribusinesses in their efforts to export. The report states: “A number of deep-seated challenges inhibit Caribbean agriculture diversification and competitiveness: The small and fragmented nature of most farm units; the absence of strong farmer grass-roots organisations; the cost of agricultural labour; the ageing demographics of Caribbean farmers; an education system that does not prepare youth to seek employment opportunities in the agricultural sector; and extension systems that have historically focused on managing the traditional export crops.” The problem of small farm units is being addressed head on, said CABA’s president Vassel Stewart, with the formation of CABEXCO, a new umbrella organisation for SMEs in the Caricom agribusiness sector, which will jointly procure raw materials and services as well as market its members’ products and reach out to new buyers. The resulting economies of scale will also hopefully make it easier to bear the cost of becoming compliant with US and EU food export regulations. ¤

OECSBusinessFocus May / Jul

Trade

In Goods & Services Developing The Blue Economy In Caribbean Small States Developing The Blue Economy In Caribbean Small States By: Cyrus Rustomjee

What is the “Blue Economy”?

• Ecosystems and other services provided by oceans are vast, offering opportunities for growth and sustainable development. Small developing states lag behind others in accessing and benefiting from these opportunities.

• The blue economy approach, combining conservation and growth in the context of oceans, provides a sustainable and integrated development strategy. It enables small states to provide ocean ecosystem services and to develop new industries in aquaculture, sustainable tourism, marine biotechnology, seabed mining and other growth sectors. • Small states need global action to scale up climate financing, improve the valuation of marine ecosystem services and determine a price for blue carbon, as well as support the transition to the blue economy, including dedicated resources to finance conservation and blue growth.

18.4% of the Caribbean island states’ total GDP is generated by the ocean economy. 41 million people live within 10 kilometres of the Caribbean Sea. 25% of near-shore marine and land area in Grenada will be preserved by 2020. Since 1998, fish landings in the Caribbean have dropped 42% due to over-fishing. 85% of waste water released into the Caribbean ius untreated. 75% of the region’s reefs are at risk. 790,000 Metric Tonnes of plastic is projected to enter the Caribbean Sea by 2025. Blue Economy Framework Supports Small States The recent emergence of the “blue economy” concept, which arose from the 2012 United Nations Conference on Sustainable Development, or Rio+20, offers a new pathway to promote and achieve the sustainable development objectives of small states. It adapts many features of the green economy, including environmentally sustainable development, fairness in the use of resources and the pursuit of sustainable development without degrading the environment. In the blue economy approach, however, these are applied in the context of ocean and maritime economies. The conservation and sustainable management of ocean resources and ecosystems are emphasized, on the basis that healthy ocean ecosystems are essential for the development of ocean economies, and sustainable development is advanced through “blue growth,” including, for example, in fisheries, aquaculture, sustainable tourism, marine transport, the development of coastal communities, coastal urban development and land-based maritime industries (Global Action Network for Food Security and Blue Growth 2013). Coupled with the recent global agreement on a new Sustainable Development Goal (SDG) focused on oceans, seas and marine resources (SDG 14)1 and an array of new sectoral blue growth opportunities, small states are beginning to take advantage OECSBusinessFocus May / Jul

of this conceptual framework to advance their sustainable development objectives, and many are developing national blue growth strategies. The blue economy approach offers innumerable practical opportunities for small states. Sectoral interventions in fisheries, tourism, ocean renewable energy and marine biotechnology, coupled with new approaches to valuing ecosystem services, offer small states the opportunity to fundamentally overcome their vulnerabilities and transform their prospects for sustainable development.

How “Blue” Are Caribbean Economies? Building on the blue economy framework, many small states have launched blue economy initiatives. In the Caribbean, Grenada is developing a strategy to transform its economy to a “blue economy ocean state,” by supporting sustainable productivity increases in marine food systems and sustainable use of coastal and marine resources; promoting single-use and multi-use coastal and ocean spaces; and protecting coastal people’s livelihoods threatened by climate change. Jamaica has developed a significant aquaculture industry, and the Bahamas is establishing an integrated framework to manage marine resources. ¤ For the full report go to cigionline.org. www.oecsbusinessfocus.com

Unleashing The Power Of The Internet In The Caribbean Excerpt from the February 2017 report. Commissioned by the Internet Society, this study identifies solutions that promote continued development of the Internet in the Caribbean, specifically with respect to infrastructure and access services, the and Internet provides recommendations to help address Unleashing in the Caribbean Removing the region’s unique challenges. The study focuses on . . . The Access in the Region Bahamas, Barbados, British Virgin Islands, Curaçao, Dominica, Grenada, Haiti, Jamaica, Sint Maarten, Suriname, and Trinidad and Tobago. With regard to Internet infrastructure, most of the countries in this study have at least two independent submarine cable systems providing connectivity both regionally and to global Internet networks. Internet services are delivered in-country via a combination of fibre-optic, coaxial and copper cables, and fixed or mobile wireless networks. Second-generation (2G) mobile/ cellular networks cover most of the population, providing basic telecommunications (voice and text messaging) services. Increasingly, newer third-generation (3G), fourth-generation (4G) and long-term evolution (LTE) mobile technologies that support mobile broadband Internet are being deployed. Largely reflecting the varying levels of economic development in the region, Internet use varies considerably—from as low as 11% of the population in Haiti to almost 80% in Barbados and the Bahamas (2014). The density of fixed broadband subscribers is generally low—from less than 4 subscriptions per 100 inhabitants in the Bahamas to almost 27 subscriptions per 100 inhabitants in Barbados (2014). The rapid adoption and use of mobile/cellular phones in the region, however, fuelled by aggressive promotion of broadband services by mobile operators and the increasing deployment of free/public Wi-Fi networks, are likely to substantially increase the short- to medium-term Internet adoption and use. With some exceptions, such as Haiti and the Bahamas, the coverage of Internet infrastructure is relatively good, but there is still room for improvement.

Internet subscribers among their populations, these numbers do not necessarily correspond to proficient or extensive use of the medium to harness its development potential. We recommend the following to address these challenges:

• Developto clear and forward-looking policy and regulatory Barriers Connectivity and Stimulating Better

frameworks that focus on developing the Internet and information and communications technology (ICT) both in individual countries and across the region as a whole. • Encourage greater private-sector participation and innovation by improving the enabling environment and the support ecosystem in general, paying particular attention to fostering increased competition in the Internet access market and promoting open access to shared facilities, such as telecentres and innovation hubs (iHubs). • Implement initiatives that foster greater participation by the public, including initiatives that improve digital literacy and increase the availability of free access to public institutions. • Ensure that the ICT projects implemented are properly aligned with the country’s needs and development priorities. • Adopt a regional approach and system of collaboration on common problems and goals, taking advantage of the benefits that emerge—especially with regard to implementation costs—due to the economies scale and scope that can be realised. ¤

RSI Architectural Design & Photography

There are a number of challenges, however, that constrain most countries in the region from becoming digital societies. • Caribbean governments have been largely responsive rather than proactive in nurturing the development of the Internet to meet their countries’ needs. As a result, the policy environment required to enable the development and use of Internet infrastructure— particularly legal frameworks that promote affordable services via properly managed competition—are underdeveloped in most countries and still oriented toward the promotion of basic voice communications. • Government support structures, such as investment incentives to improve coverage, are limited. The development of relevant content, services and applications (particularly e-government) would drive demand. • Even if Internet access costs were to drop significantly, low- income populations might still find Internet services and access equipment unaffordable or of limited value relative to their income levels. • Although some countries report relatively high numbers of

OECSBusinessFocus May / Jul

BUSINESS FOCUS

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ENVIRONMENTAL FOCUS

Diving To Greener Heights: Dive Saint Lucia Is World’s First LEED Platinum PADI School

DIVING TO GREENER HEIGHTS: Dive Saint Lucia Is World’s First LEED Platinum PADI School

Since filling the custom-designed, rainwater-filled training pool for the first time in 2014, Team Dive Saint Lucia (DSL) has experienced swift success based on a sterling reputation for safety and quality, professionalism and the coolness of some of the island’s best PADI practitioners. After only two years of operation, Dive Saint Lucia has emerged with high praise and a top spot in online recommendations from happy guests and clients, but there is much more to these diving dudes than the adrenaline rush of life underwater. If diving is their profession, conservation is their passion. From the initial design of Saint Lucia’s first purpose-built dive school, through construction and launch, to daily operations on board DSL’s two sleek 46’ Newton Dive Specials, ‘green’ is at the heart of every decision and activity at Dive Saint Lucia. Now DSL is celebrating another first, as the company is the first dive school to be awarded LEED Platinum certification. Building an energy efficient operation and maintaining the smallest carbon footprint possible was priority from the outset, so Dive Saint Lucia signed up to the United States Green Building Council certification program, Leadership in Energy & Environmental Design, known globally as LEED. Projects pursuing LEED certification earn points across several areas that address sustainability issues. Based on the number of points achieved, a project receives one of four LEED rating levels: Certified, Silver, Gold and Platinum. In an unprecedented achievement, despite the obstacles of its small island location and, some would say, against the odds, Dive Saint Lucia was awarded LEED Platinum certification in February 2017. LEED-certified buildings are resource efficient, using less water and energy, reducing greenhouse gas emissions and as an added bonus, saving money in the long term. According to the USBGC: “LEED is changing the way we think about how buildings . . . are planned, constructed, maintained and operated.” OECSBusinessFocus May / Jul

Around the world, sustainability-minded developers have made LEED the most widely used third-party verification for green buildings, with around 1.85 million square feet being certified daily. LEED consultants on the project were Accredited Energy Consulting Services (AECS) led by Dr. William Shoard, who stated: “The ocean surrounding Saint Lucia is home to a complex and fragile ecosystem. Minimizing the impact to the island’s environment was of paramount importance to the owners of Dive Saint Lucia when deciding to build. “The LEED certification program is . . . the benchmark for environmentally sustainable buildings. By achieving the highest possible LEED rating, Dive Saint Lucia’s owners have made a statement demonstrating their commitment to sustainability.” Owner/Manager and Dive Master, Marcel Buechler, considers the commitment to green, sustainable practices as an ongoing challenge that Team Dive Saint Lucia has embraced as a common core value. “As divers, we do it because we must, and we believe every business owner should also do what they can to protect the environment. Achieving LEED Platinum certification is amazing, but in our work we see the damage to the ocean from plastics and garbage, so for Dive Saint Lucia, conservation is about living ‘green’ every single day.” Which means taking an active role in PADI’s own international ocean conservation organisation, ProjectAware.org, as well as collaborating with innovative local companies such as Greening The Caribbean to support recycling and other practical initiatives. At Dive Saint Lucia, they see every day, what happens when plastics and garbage wreak their particular type of environmental havoc below the beautiful Caribbean sea. By building ‘green’ into their business from the ground up, they hope to be real leaders in turning the tide in a more sustainable direction. For more information about Dive Saint Lucia, please visit DiveSaintLucia.com. For more about LEED Certification, please visit www.usbgc.com. ¤ www.oecsbusinessfocus.com

OECS Discuss Ocean Governance And Policy Eastern Caribbean Regional Ocean Policy Being Fine-Tuned

Eastern Caribbean Regional Ocean Policy being fine-tuned Representatives from Anguilla, Antigua & Barbuda, British Virgin Islands, Dominica, Grenada, Montserrat, St. Kitts & Nevis, Saint Lucia, and St. Vincent and the Grenadines, participated in the Sixth Meeting of the OECS Ocean Governance Team (OGT 6), held at the OECS Commission, Saint Lucia, February 13 – 17, 2017. Representatives of the United Kingdom (UK) Hydrographic Office (UKHO), UK National Oceanographic Centre (NOC), the World Bank Group, Commonwealth Secretariat, and the Caribbean Regional Fisheries Mechanism also participated in the Meeting, which focused on strengthening ocean governance frameworks and identification of strategic partnerships to support blue growth, and transition to a blue economy in OECS Member States. Participants engaged in strengthening coordinating mechanisms for ocean governance through the preparation of a Revised Terms of Reference for the Ocean Governance Team, and draft documents to support the establishment and strengthening of national ocean governance through an inter-sectoral coordinating mechanism. The Meeting reviewed the status of implementation of the Eastern Caribbean Regional Ocean Policy (ECROP) and its 3-Year Strategic Action Plan, inclusive of the OECS Fisheries Management and Development Strategy and Implementation Plan. Participants agreed on the process for the revision of ECROP to include ‘new’ OECS regional policy, goals and priorities. April 30th 2017 was agreed as the date for completion of the OECS Hydrographic Scoping Study, which involves finalizing of a regional OECS Hydrographic Report, nine (9) National Hydrographic Reports, and preparation of a Project Proposal to seek donor support to implement the recommendations in the reports. Participants were apprised of plans for the Caribbean Regional Oceanscape Project (CROP) to leverage funds for a broader comprehensive set of activities to support economic and social transformation throughout the OECS and the wider Caribbean. They contributed to the feasibility assessments for development

of comprehensive Marine Spatial Plans (MSP) under Component 1 of CROP, to be executed by the OECS Commission. Participants also identified areas for collaboration among existing programmes and projects, including the ECROP, CROP, the Ocean and Natural Resources Advisory Division of the Commonwealth Secretariat, the United Kingdom Commonwealth Marine Economies Programme (CMEP) and the Caribbean Large Marine Plus Ecosystem (CLME+) Project. Funding support for the Meeting was provided through the CLME+ project and CMEP. The UNDP/GEF CLME+ Project is a 5-year project (2015-2020) being implemented by the United Nations Development Programme (UNDP) and cofinanced by the Global Environment Facility (GEF). CMEP is a UK Government funded programme to support development of the marine economies in small island developing states. CROP is funded by the Global Environmental Facility (GEF) and is being executed by the World Bank and the OECS Commission. A follow-up meeting to help Caribbean countries unlock the full economic potential of the seas, took place at Commonwealth Headquarters, Malborough House, London, from February 21 – 22, 2017. The conference of international stakeholders, organised by the Commonwealth Secretariat and the World Bank, brought together the OECS Commission along with partners and donors from the UK. The Caribbean Regional Oceanscape Project (CROP) is being developed by the World Bank in conjunction with the OECS, and the Commonwealth Secretariat. It is set to support five countries: Grenada, St. Kitts & Nevis, Saint Lucia, St. Vincent and the Grenadines, and Dominica. Dr. Pawan Patil, Senior Economist at the World Bank, says his organisation (the World Bank) and the Commonwealth Secretariat “recognise the need and interest of countries to derive sustainable economic value from their ocean space.” Dr. Patil is of the view that “the blue economy is a frontier for sustainable development for the future.” ¤ OECSBusinessFocus May / Jul

ECONOMY & TRADE

Caribbean’s First Angel Investor Forum Held in Jamaica

Caribbean’s First Angel Investor Forum Held in Jamaica LINK-Caribbean hosted the region’s first Caribbean Angel Investor Forum in Montego Bay, Jamaica on May 11-12, 2017. Under the theme ‘Growing Angel Investing in the Caribbean’ the Caribbean Angel Investor Forum, an invitation-only event, was designed to attract high-net-worth individuals from across the region and internationally. The Forum is among several activities of the USD 1.6 million LINK-Caribbean program, aimed at promoting the development of an organised angel investment ecosystem within the Caribbean. Implemented by the Caribbean Export Development Agency, LINK-Caribbean is an initiative of the World Bank Group’s Entrepreneurship Program for Innovation in the Caribbean (EPIC), a seven-year, CAD 20 million program funded by the government of Canada, that seeks to build a supportive ecosystem for highgrowth and sustainable enterprises throughout the Caribbean. “As a first of its kind in the region, the Caribbean Angel Investor Forum represents our commitment to the development of an active angel investment ecosystem that translates into an alternative stream of capital for our private sector,” said Pamela Coke-Hamilton, Executive Director of the Caribbean Export Development Agency. Over the past few years, the World Bank Group has been investing in improving the angel investment prospects within the region, through technical assistance and coaching for both entrepreneurs and investors. During this period, the region has seen the emergence of five angel investor groups, including First Angels Jamaica and Alpha Angels in Jamaica, Trident Angels in Barbados, and IP Angels and Renaissance Angels in Trinidad & Tobago. These angel groups have held private meetings to review companies and have made investments ranging from USD 50,000 – 200,000 in at least 6 companies. The Caribbean Angel Investor Forum provided a platform for these angels to come together as a community to share best practices and knowledge, network and uncover new investment opportunities.

OECSBusinessFocus May / Jul

Aun Rahman, financial sector specialist, World Bank Group, stated that “we are encouraged with the growth and formalisation of angel investor groups in the region. Our support will continue to further strengthen the angel investment ecosystem and promote the development of a strong pipeline of growth-oriented and investible enterprises.” The forum explored the current landscape of angel investing in the region and provided a series of workshops led by globally experienced angels on critical aspects of angel-investing, such as due diligence and assessing firm valuation, deal structuring and strategies for developing a successful partnership with entrepreneurs. In addition, Caribbean angels will play a key role as discussion facilitators. The forum will also provide an opportunity for a select number of entrepreneurs, including existing portfolio companies of regional angel groups, to present their businesses. Since the start of the programme, LINK-Caribbean has awarded USD 150,000 to Caribbean firms actively seeking to raise private capital, for the purpose of developing their companies to make them more attractive to angel investors. Caribbean Export has also developed the Regional Angel Investor Network (RAIN) to provide Caribbean and global investors interested in investing in Caribbean start-up and early stage companies with “deal flow” or pipeline of investment opportunities. ¤

About EPIC

The Entrepreneurship Program for Innovation in the Caribbean (EPIC) is a seven-year, CAD20 million Trust Fund Program funded by the government of Canada that seeks to build an enabling ecosystem for growth-oriented and sustainable enterprises across 14 CARICOM countries (except Haiti). The Project Development Objectives are to contribute to increased competitiveness, growth, and job creation in the Caribbean region through the development of a robust and vibrant innovation and entrepreneurship ecosystem. EPIC has three core activity pillars: mobile innovation, climate technology, and women-led entrepreneurship. These pillars are complemented by an access to finance facility for Caribbean entrepreneurs and a skills-upgrading and capacity development program for all ecosystem stakeholders. ¤ www.oecsbusinessfocus.com

Talks Ongoing to Amalgamate OECS Indigenous Banks Talks Ongoing to Amalgamate OECS Indigenous Banks

Caribbean Economies To Grow By 1.7 Percent

By Ken Richards

Caribbean Economies To Grow By 1.7 Percent

Timothy Antoine - Eastern Caribbean Central Bank Governor Eastern Caribbean Central Bank (ECCB) Governor Timothy Antoine is continuing to push for the amalgamation of local banks in the OECS sub-region. He spoke to the issue recently in Dominica, and again returned to the subject in Anguilla. Antoine cited two examples of amalgamation in Anguilla and Antigua and Barbuda. “So we now have 12 national banks, a year ago we had 14. There’s two in Anguilla that came together as one, everybody knows that, what many people don’t know is that in Antigua and Barbuda, not far away, we have ABIB which is now part of ECAB and before that we had Bank of Antigua which is how ECAB was established. So there you see in Antigua and Barbuda there has been amalgamation, ECAB is actually making profit already,” he said. Antoine said there are ongoing amalgamation talks in some parts of the OECS. “In St Lucia and St Vincent talks have been going and among some other countries which I won’t name now but which I’m aware, there are also discussions going on about coming together. If you ask the other bank managers many of the indigenous banks they will tell you that it is very important for them to be able to not just only survive but grow and compete with international banks for market share. Now notice, that coming together may mean a smaller number of banks but it does not mean a drop in market share, if they come together well they can not only protect that market share but potentially grow that market share and even buy an international bank in the future, that’s possible, but they are not going to get to do it individually,” he explained. The ECCB governor indicated that there is amalgamation going on outside of the Caribbean, even among bigger banks. ¤

The Caribbean Development Bank (CDB) has released the 2017 Caribbean Economic Review and Outlook figures. Despite a slow-growing economy, the CDB projects a 1.7 percent average growth in 2017, across its member countries. CDB President Dr. Warren Smith said overall economic growth across the region remained uneven, with that fragile state of recovery to continue in 2017. “The big challenge for each and every one of us is to reverse this pattern and get on a path of sustained and inclusive income growth with discernible improvements in living standards,” Dr Smith said. But to realize this growth, member countries must increase their foreign exchange earnings. Dr. Smith said the fastest growing Caribbean economies are those that offer services, and have been expanding in line with global recovery. He asserted that it is imperative for governments to implement activities that are financed by revenue systems that meet the sufficiency criteria, while promoting equity and economic efficiency. “Because economic growth rates are so low, many governments are unable to generate the primary balances needed to correct adverse debt dynamics, so public debt remains unsustainably high, while emergency revenue measures implemented to stem fiscal debt deterioration following the global recession have had a perverse impact on competitiveness, further constraining economic growth,” Dr. smith explained. To fuel growth, CDB Director of Economics, Dr. Justin Ram, said “the way forward for the global economy is marked by some profound risk.” The 2017 Caribbean Economic Review and Outlook was released on Feb. 17 in Barbados, before several government and media officials from across the region. ¤

OECSBusinessFocus May / Jul

ECONOMY & TRADE

IDB Report Says Economic Outlook For Caribbean, Latin America Improving

IDB Chief Economist

José Juan Ruiz

IDB Report says Economic Outlook for Caribbean, Latin America Improving The economic outlook for the Caribbean and Latin America is improving, driven by a stronger global economy, improved fiscal positions, lower inflationary pressures, and better prospects, according to the Inter-American Development Bank’s 2017 Macroeconomic Report. According to the IDB, the first part of the report Routes to Growth in a New Trade World was released on the side of the IDB’s Annual Meeting in Asunción, Paraguay. The second part, on regional integration was unveiled after. “Since our report last year there have been several positive developments as the region shifts to a pattern of better policies,” said IDB Chief Economist José Juan Ruiz. He added: “Tax reform efforts in some countries have been successful in achieving more equity while improving efficiency. Monetary policies in larger economies have kept inflation in check and we estimate the external adjustment process is close to completion in most countries.” However, the combination of potential negative U.S. trade and financial shocks, even with the U.S. economy growing, could trim a full 0.4 per cent from the region’s projected two per cent annual growth rate for the 2017-2019 period. The report uses the IMF’s three-year projections as a baseline and then estimates how external impacts could add or subtract to the region’s growth. The shock from the U.S. economy is not evenly distributed. Mexico could see its three-year potential growth rate cut by 0.8 per cent, reducing its annual rate from 2.2 per cent to 1.4 per cent. The Southern Cone and the Andean region would each see their GDP annual growth rate reduced by 0.4 per cent. The shocks would be transmitted through a combination of interest rate hikes, global OECSBusinessFocus May / Jul

trade frictions and impacts on commodity prices. At the same time, the performance of both Argentina and Brazil has a big impact on the region. Given the inter-connectedness of these economies, a US$20 billion combined gain or loss in GDP of South America’s biggest economies would add or cut about US$70 billion of GDP to the entire region for the three-year period. An examination of the fiscal budgets of 22 countries estimates a primary fiscal deficit of 0.8 per cent of GDP for the region, though there the reality varies from one country to another. Still, 15 countries in Latin America and the Caribbean that are pursuing plans for fiscal consolidation are aiming to achieve an adjustment of about two per cent of GDP over five years. Tax reforms could increase fiscal revenues by 1.2 per cent of GDP. Expenditures are expected to be trimmed by 0.8 per cent. In the past, external shocks led to higher inflation. This trend has reversed, the report notes, with lower inflation amid more stable commodity prices and rising exports. With imports as a percentage of overall output declining, current account deficits have dropped to medium or long term averages. “The region is turning the corner after suffering negative growth in the last two years” said Andrew Powell, the report’s coordinator and the senior economic advisor of the IDB. “While Latin America and the Caribbean is on surer footing than it was a year ago, going forward it faces big challenges to bring the kind of growth its citizens demand. This will require a continued focus on reforms to improve productivity and a deepening of regional trade integration.”¤ Source: IADB.org www.oecsbusinessfocus.com

Antigua & Barbuda Implements GIIC Diplomatic Antigua & Barbuda Implements GIIC Regulatory Framework

work with the country’s Citizenship by Investment Program (CIP). The recommendations are part of the GIIC’s collaboration with Professor Craig Barker, Dean of the School of International Law and Social Sciences, London South Bank University, and included proposals for more thorough due diligence, stricter appointment procedures and tighter controls. Diplomatic Regulatory Framework “In order to manage the risks associated with these appointments, the appointment shall be for a maximum of two years, subject to renewal upon satisfactory performance.” shared the Hon. Gaston Browne. Further he shared “To ensure appropriate representation by non-national ambassadors-at-large, special envoys and honorary consuls, thorough background and other due diligence checks shall be conducted on persons under consideration and prior to their appointment.” Mykolas Rambus, Chairman of the GIIC shared “For countries with citizenship by investment programs, diplomatic figures are of even greater importance. Conscious of preserving the integrity and standing of diplomatic and other passports of Antigua and Barbuda, the government has implemented even more rigorous appointment procedures including expanded due diligence and monitoring practices. Antigua and Barbuda have clearly taken steps to advance the reputation of the country and improve the performance of its citizenship by investment program.” ¤

The Prime Minister of Antigua and Barbuda, the Hon. Gaston Browne announced that the Cabinet has approved a new policy on diplomatic representation and accreditation based in part on the Global Investor Immigration Council’s (GIIC) regulatory recommendations. The GIIC made the regulatory recommendations to increase the transparency and accountability of diplomatic appointments’

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About the GIIC

The Global Investor Immigration Council (GIIC) is the investor immigration industry’s self-regulatory body, protecting integrity, ensuring transparency, and advancing advocacy for all constituents. The GIIC develops and maintains best industry practices, serves as a non-partisan, not-for-profit forum for all stakeholders to ensure dialogue, stability, and success.¤

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BUSINESS & FOCUS ECONOMY TRADE

OECS Fisheries Subsidies Negotiations in the WTO

OECS Fisheries Subsidies Negotiations in the WTO The OECS Commission has begun consultations to develop a brief for negotiations on the rules that govern fisheries subsidies in the World Trade Organisation (WTO). The first meeting convened via online web-conference on April 7th, 2017 and was attended by senior trade and fisheries officials from OECS Member States and representatives from the OECS Commission’s Trade Policy Unit, Economic Development Policy Unit, Oceans Governance and Fisheries Division, and the Geneva Mission. Pursuant to the Doha Development Agenda and Sustainable Development Goal (SDG) 14.6, a representative of the OECS Geneva Mission updated the meeting on current negotiations within the WTO framework to clarify and improve disciplines on fisheries subsidies. SDG 14.6 calls for prohibiting certain forms of fisheries subsidies that contribute to overcapacity and overfishing, eliminating subsidies that contribute to illegal, unreported and unregulated (IUU) fishing, and refraining from introducing any new such subsidies by 2020. OECS Oceans Governance and Fisheries Coordinator, Mr. David Robin, presented an overview of the fisheries sector in the OECS to the Member States. Mr. Robin outlined specific elements relating to the management and development of the sector, such as key characteristics, policy goals and objectives, the incidence or impact of overfishing and overcapacity, the level and type of subsidies, the existence of bilateral or other arrangements for sharing of EEZ resources, bilateral fishing access arrangements and the nature of fisheries management systems. OECSBusinessFocus May / Jul

The meeting noted the economic, technical and policy-related concerns of the sector that influence the OECS’ position in the WTO Fisheries Subsidies Negotiations. Participants also discussed the merits of recent proposals by other WTO members/ delegations on the scope of the disciplines that should be applied to subsidy programmes. Implications for the OECS region were considered with a view to determining whether the proposals are aligned with strategic interests. The consultation provided an opportunity for Member States to indicate their interests and concerns in relation to each element of the Fisheries Subsidies Negotiations. These discussions will assist Member States in ongoing negotiations in the WTO as well as with other member states of the Caribbean Community (CARICOM). Multilateral talks on fisheries subsidies disciplines have been ongoing in the World Trade Organisation (WTO) since the launch of the Doha Development Agenda (DDA) in 2001. WTO Trade Ministers agreed at the 2005 Hong Kong Ministerial Conference to work towards a prohibition of certain forms of fisheries subsidies that contribute to overcapacity and overfishing, taking into account appropriate Special and Differential Treatment (S&DT) for developing and least developed members as an integral element. WTO members are working towards an outcome/agreement on fisheries subsidies during the upcoming WTO Ministerial Conference scheduled to be held in Buenos Aires, Argentina in December 2017. ¤ www.oecsbusinessfocus.com

Link-Caribbean Awards $US125,000 To Five Caribbean Firms

Link-Caribbean Awards $US125,000 To Five Caribbean Firms Five Caribbean businesses are at a stage closer to securing private investment having each received US$25,000 through the LINKCaribbean Investment Readiness Grant programme.

Khalil Bryan of Caribbean Transport Solutions, also from Barbados, highlighted some of the key initiatives hosted by World Bank and Caribbean Export.

The five firms are Carepoint and Caribbean Transit Solutions from Barbados; Bluedot Media and Innovative Menu Solutions Ltd from Jamaica and SystemIz Incorporated from Trinidad and Tobago.

“Starting from 2015, their team hosted entrepreneur sessions to sensitize us to key items that would prepare us to raise capital to providing support as we deploy capital from the IR grant. They have truly been a catalyst to improve the investment climate in the region – from building angel groups to disbursing grant funding to prepare us for investment. We appreciate the role that they have played and would encourage them to continue in this vein as entrepreneurship will truly be a catalyst to impact the economies of our region,“ he said.

According to Chris McNair, Manager for Competitiveness and Innovation at Caribbean Export, the grants will be used to assist firms in making the necessary improvements to their businesses with the aim of attracting greater investment from private investors, such as Business Angels within the next six months. The firms were selected from a slate of 134 applicants from across the region, 7 of which were afforded the opportunity to pitch their businesses to a panel of judges in the hope of securing an investment readiness grant. LINK-Caribbean, a programme of the Caribbean Export Development Agency (Caribbean Export) supports the development of an early stage Investor eco-system within the region. Launched last September, it is funded by the World Bank and sponsored by Canada.

Aun Rahman, Financial Sector Specialist for the World Bank who also has responsibility for EPIC’s Access to Finance programme, stated that the Bank is encouraged with the initial response to LINK-Caribbean’s first grant cycle.

“For many years Caribbean entrepreneurs were disadvantaged because of a lack of funding opportunities in comparison to our first world counterparts, with the LINK Caribbean grant we now have an opportunity to show the world that great, disruptive companies can be borne from here,” expressed Larren Peart of Bluedot Media.

In addition to these grants, LINK-Caribbean provides other support activities to stimulate early stage investing in the region. It facilitates the development of deal-flow for early-stage investors through the Regional Angel Investor Network (RAIN).

Barbadian recipient Shannon Clarke from Carepoint expressed his humility for his selection and spoke of looking forward to the guidance from Business Angels and importantly “their assistance to help push the adoption of ICT in the delivery of healthcare throughout the Caribbean”.

“We are looking forward to building a stronger pipeline of more applicants who will be eligible to become beneficiaries under the programme in future grant cycles,” Rahman said.

“We strongly encourage entrepreneurs and investors to join RAIN to uncover new investment opportunities throughout the Caribbean,” added McNair. ¤

OECSBusinessFocus May / Jul

BUSINESS FOCUS TOURISM

Is E-TESTING A Good Fit For The Caribbean Region? Is E-Testing A Good Fit For the Caribbean Region

By Andrea M. Austin, Assistant Registrar - Marketing Officer, Caribbean Examinations Council

Electronic Testing a.k.a. E-Testing involves the use of Information and Communications Technology (ICT) to carry out assessment or testing. Rather than paper, a computer (or other electronic device) is used to administer the test. ICT has certainly become part and parcel of our existence in the 21st century - whether it be through using debit or credit cards to purchase products and services; using Apps and online programmes to map directions to new destinations; or using tablets and smart phones to catch up on the latest episode of our favourite programmes.

Workforce requirements are also changing as Caribbean economies move closer towards the service delivery model with advancements in the hospitality, financial services, health and wellness, and ICT industries. New workforce entrants need to be equipped with key 21st Century skills to keep up with ever-evolving business demands. Learners in our region (much like their global counterparts) have turned to ICT in the pursuit of learning. Google, Wikipedia and YouTube have largely replaced the use of Encyclopaedia Britannica and trips to the local library. Many Caribbean learners have traded classroom learning for online and distance courses. Our classrooms are filled with digital natives who have navigated the world of ICT for most, if not all, of their lives. In preparing them for the requirements and challenges of 21st century living, should we then embrace or shy away from the technology that they know and use every day? One can argue that there are areas of the Caribbean which do not have access to reliable Internet service and other resources such as electricity, computers or tablets, which makes it difficult for country-wide implementation. On the other hand, there are areas which possess the necessary resources to enable the benefits of E-Testing to be harnessed. For those who are ready, E-Testing is available. E-Testingâ&#x20AC;&#x2122;s greatest selling point is its flexibility. It can be used for diagnostic assessment to gauge pre-training knowledge; formative assessment conducted during training to clarify learnersâ&#x20AC;&#x2122; understanding of concepts and to identify learning gaps; and summative assessment or testing at the end of training to assess learnersâ&#x20AC;&#x2122; overall understanding.

OECSBusinessFocus May / Jul

www.oecsbusinessfocus.com

CXC Caribbean Examinations Council

Beginning in January 2017 the Caribbean Examinations Council (CXC®) made summative assessment E-Tests available for multiple choice papers, as an alternative to the paper-based tests. Prior to roll out, countries were provided with a list of hardware, software and human resource requirements to assist in their decision to implement E-Testing. They were encouraged to do so on a subject basis, which would allow them to select the subjects for which adequate resources were available. Training and practice tests were made available to those countries that raised their hands and; as a result, the January Caribbean Secondary Education Certificate (CSEC®) sitting saw E-Tests being taken by 500 candidates from seven countries – Anguilla, Cayman Islands, Dominica, Grenada, Jamaica, Monserrat and St Lucia. During the 2017 May-June testing period, CXC® will expand its offerings in multiple choice exams to cover not only CSEC®, but also the Caribbean Advanced Proficiency Examination (CAPE®) and Caribbean Certificate of Secondary Level Competence (CCSLC®). This will naturally represent a larger roll out of the initiative as more subjects will be offered and the candidate pool will be significantly (90%) larger than that in January. Among others, one intended benefit of E-Testing is to improve the quality of the tests administered through the use of a variety of question types and response formats that makes for more authentic tests. For example, the new format will enable the use 3-dimensional graphics, audio, video and animation to prompt responses.

E-Testing has been proven to reduce transcription errors, hence, improving the performance of learners. Additionally, e-testing increases exam accessibility to candidates with disabilities such as sight, hearing or speech impairment. In the future, CXC® E-Testing will extend beyond the multiple choice format to other exam types. When the system is fully operational, learners will be able to take advantage of additional exam testing periods and test data will be sent immediately to CXC®. This will serve as a catalyst for quicker results releases and, by extension, quicker post-exam decisions. Further, at the ministry and school levels quicker access to exam data can boost the speed at which statistical analyses can be utilised to make important decisions in the education and school systems.

For more information on the CXC® E-Testing initiative visit www.cxc.org OECSBusinessFocus May / Jul

BUSINESS FOCUS IN THE KNOW

Invest in Florida Real Estate “Where the Sun Shines on Your Investment”

Invest in Florida Real Estate

“Where The Sun Shines On Your Investment” By: Damiana Mendes Ponce

Florida and in particular South Florida has been a popular location for people from the Caribbean and South America with large populations resident across the many communities having settled here over the past fifty years.

Most people buying real estate in Florida are purchasing Condos where they can lock the door and not have to worry about the exterior maintenance. While single-family properties are more labour intensive, they are currently producing higher yields.

Many other persons have made an investment in purchasing property in Florida for several reasons. Some have bought as an investment where they lease the property on the rental market and also benefit from the appreciation in the property value over the years should they choose to sell. Others visit Florida with some frequency for business and shopping and thought it will be more beneficial to purchase a property where they can stay and conduct business or vacation with their family using the monies to be spent as hotel bills to cover the costs of the mortgage. Some have decided that based on the close proximity of Florida to most countries in South America and the Caribbean they will send their children to University in Florida and hence have bought property which is used as a second family home where the children live while attending College/University.

Townhouses are also hot, because they have lower monthly fees than Condos but you can typically buy them for around the same prices. Also, the rents tend to be higher and they attract more family-oriented renters than condos do.

For many people there are many advantages in owning property in Florida. The countries of the Caribbean and South America are having major economic challenges and volatility with the exchange rates for their local currencies and in many cases you are able to purchase a Florida property for much less than in your home country. The Florida property is valued in United States Dollars which is a relatively stable currency and has a higher conversion against volatile currencies giving the buyer a financial advantage. With a growing population of new residents there is always a high demand for properties which make it easier to sell should this be an option. As a retirement community with all of the necessary medical and support services available nearby, Florida offers persons growing older to settle here when they retire from active life and have access to these services. With the demand for purchasing Florida properties by nonresidents, many Florida based Banks and Mortgage Companies have now made it much easier to qualify and negotiate loans for the purchase of property. OECSBusinessFocus May / Jul

Vacation rentals are also a very popular option right now for those not as concerned with the short-term return but are looking to win big on the capital gain over the long run. Should you wish to consider purchasing property in Florida, there are many established Real Estate companies and professionals who are qualified to guide you through the possibilities and various steps from connecting you with financial advisers through to identifying and closing on the purchase of a property and even negotiating rentals and offering maintenance support to those owners living outside of Florida or the USA. With our experience and knowledge we are available and happy to assist and guide you through this process. Looking forward to being of service. ¤ Damiana Mendes Ponce is a Caribbean National resident in Florida. She is employed at RE/MAX Park Creek Real Estate and is an experienced and successful Professional and a Zillow 5 Star Agent who has worked with many international investors in making investments in Florida Real Estate. She can be contacted at Tel: 561-3055160 / 954-596-0730 or by email at: damiana@damianamponce.com or visit her website www. damianamponce.com for more information. www.oecsbusinessfocus.com

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• New Construction • Single Family Homes • Town Homes What’s your home worth? Find out fast and free: www.coconutcreekhousevalues.com OECSBusinessFocus May / Jul | 95

BUSINESS TOURISM FOCUS

Caribbean Hoteliers Predict Positive Tourism Performance for 2017 In 2016, hoteliers reported an even split on revenue performance with 47 percent recording an increase and a similar percentage reporting a decrease. While expectations for the year were higher initially, last year’s mixed performance came after an exceptional year for Caribbean tourism in 2015. Announcing the results of the second annual Caribbean Hotel and Tourism Association (CHTA) Industry Performance and Outlook Study, Frank Comito, Director General and CEO of the private sector association, stated that “more than four out of five (81 percent) hoteliers have an encouraging outlook for tourism in 2017.” The survey, administered during the first two weeks of this year, polled a representative sampling of hotels throughout the Caribbean of varying sizes and categories, and looked at their 2016 performance and 2017 expectations for factors in areas such as employment levels, revenue, profits, capital spending, room occupancy, and rates, each forming the basis for assessing the state of the tourism economy. “Hoteliers entered 2016 with high performance expectations but these were tempered as a combination of unanticipated factors surfaced during the year,” said Comito. These events included

a warmer than usual winter in the region’s primary feeder markets, Canadian and UK exchange rates, Brexit, the threat of Zika, and political and economic certainty in parts of the world, according to the survey respondents.

Frank Comito

Director General & CEO of the Private Sector Association

Despite this, the profitability picture improved over the previous year, with most hotels registering a net profit in 2016. Seventy-eight percent of respondents reported a net profit while 22 percent reported a net loss. Looking ahead, in 2017 more than two-thirds (67 percent) anticipate an increase in revenue, and 56 percent expect a slight improvement in profits. Although room occupancy decreased for just more than half (51 percent) of the reporting hotels, a notable proportion (29 percent) reported an increase in occupancy. More hoteliers are optimistic for 2017, with two-thirds expecting an increase in occupancy. ¤

and Caribbean Tourism Organization SignSign Cooperation Agreement Agreement Airbnb andAirbnb Caribbean Tourism Organization Cooperation Airbnb’s Shawn Sullivan, public policy director for Central America and the Caribbean, both organisations will share data and studies with policymakers about the positive impact of the sharing economy in the region; identify ways to make it more inclusive; and broaden the benefits of tourism to non-traditional actors, attract new stakeholders and focus on providing amazing and unique travel and cultural experiences to visitors. This partnership agreement will also provide to the CTO an economic analysis of Airbnb’s positive impact on local economies

Airbnb’s Shawn Sullivan (Left) and CTO’s Hugh Riley The Caribbean Tourism Organisation (CTO), the region’s tourism development agency, and Airbnb, whose community marketplace provides access to millions of unique accommodations, recently signed a landmark agreement to develop a set of policy principles and recommendations on the sharing economy for Caribbean governments and other stakeholders. Under the agreement, signed at the CTO’s headquarters by secretary general and chief executive officer Hugh Riley and

OECSBusinessFocus May / Jul

“The CTO is establishing a basis for mutual cooperation with Airbnb. It is important for us to examine all aspects of this important segment of the sharing economy. We believe that by clearly understanding Airbnb’s massive influence in capturing consumers’ interest in unique accommodations we will be in a position to properly advise our members and to allow the Caribbean to achieve the goals of year-round profitability, visitor satisfaction and sustainable tourism development,” Riley said. Currently, there are 41,000 listings across the Caribbean and a typical host in the Caribbean earns approximately US$3,900 per year. The new agreement will also help to identify new ways to market the Caribbean as a region: One Sea, One Voice, One Caribbean and grow the tourism industry. ¤ www.oecsbusinessfocus.com

Top 7 Caribbean Cruise Destinations for 2016

Top 7 Caribbean cruise Destinations for 2016 When it comes to cruise ship passengers, seven Caribbean nations outperformed the rest in 2016 according to the Caribbean Tourism Organization’s latest ‘Performance of the Tourism Industry’ report. Here are the top 7 destinations for 2016:

1: The Bahamas

4: Jamaica

Leading the way in most cruise ship passenger arrivals in 2016 was The Bahamas which saw some 3.7 million cruise visitors in 2016, the most of any Caribbean country.

2: U.S. Virgin Islands

The U.S. Virgin Islands took the number two spot on our list of top Caribbean countries that saw the most cruise passengers in 2016, recording over 1.7 million cruise visitors.

3: Cayman Islands

Taking the third spot is the Cayman Islands which saw 1,711,849 cruise visitors in 2016.

In the number fourth spot was Jamaica, which saw over 1.6 million cruise visitors in 2016.

5: Puerto Rico In fifth, is Puerto Rico, which saw 1,086,956 cruise passengers visiting the island in 2016.

6: St. Maarten The Dutch Caribbean island of St. Maarten saw 1,029,027 cruise visitors in 2016, landing it at the sixth spot on our top 7 list.

7: Belize Rounding out the top 7 list was the CARICOM Central American nation of Belize which saw 1,005,394 cruise visitors in 2016. ¤ Courtesy: NewsAmericasNow OECSBusinessFocus May / Jul

BUSINESS TOURISM FOCUS

St Vincent Opens New Multi-Million Dollar Argyle International Airport

St Vincent Opens New Multi-Million Dollar Argyle International Airport St. Vincent and the Grenadines’ Argyle International Airport in the east of St. Vincent was officially opened on the evening of February 13th, 2017, with a flag-raising ceremony in the presence of a large crowd of Vincentians, Caribbean leaders and International representatives. In his official address, Prime Minister Dr. Ralph Gonsalves said that the facility is “a symbol ... a metaphor of what is possible in us.” “Do not ever allow any people, any nation to impose on us limitations to our imagination,” he told the large crowd that turned out to see the new airport, first announced in 2005. The airport was built at a cost of some EC$700 million (US$259 million), and was completed six years behind schedule. It has also added some EC$400 million to the island’s EC$1.6 billion national debt. The flag-raising was one of two events to mark the official opening of the Argyle International Airport, which began commercial operations on Tuesday, February 14 with scheduled flights by intra-regional carriers, LIAT and Grenadine Air Alliance. Two international chartered flights operated by Dynamic Airways from the USA and Easy Sky from Honduras were the first international flights to land at the new airport with passengers from New York and Cuba respectively. Both carriers have committed to continued regular service to St. Vincent. In his address, Dr. Gonsalves reiterated that the events of the two days were a national celebration, worthy of the people of St. Vincent and the Grenadines, saying “as Prime Minister, I want to thank the nations and institutions that contributed to the successful completion of the airport.” OECSBusinessFocus May / Jul

He thanked the CARICOM Development Fund, which, of its own resources and other resources from Turkey, contributed to the development of the airport. Dr. Gonsalves also thanked the Government and the people of Taiwan, which donated the terminal building. He recognised three other major partners, Venezuela, Cuba and Trinidad & Tobago, who were featured during Tuesday’s celebratory rally. Dr. Gonsalves paid a special tribute to the memory of his “dear friend and brother”, the late Prime Minister of Trinidad & Tobago, Patrick Manning. He also used the ceremony to recognise other representatives of countries that assisted with the airport, namely Austria, Mexico, Turkey, Libya, Georgia and Iran. “We have had contributions from countries; some of them do not have diplomatic relations with one another. And part of the creativity and skill of the Government was to bring all these countries together to assist the people of St. Vincent and the Grenadines,” Dr Gonsalves stated. The Prime Minister also thanked the governments of Britain, Canada and the United States of America, whose respective export credit guarantee systems assisted “with certain items of equipment which we purchased, but, because of the guarantee systems we got them on better interest terms.” Construction of Argyle was a major undertaking which involved moving three mountains, spanning a river and filling two valleys to level the site,” said Glenroy Beache of the St. Vincent & The Grenadines Tourism Authority. The runway is 9,000 feet long and 250 feet wide and can receive large aircraft. The 171,000-square-foot terminal building has been www.oecsbusinessfocus.com

designed to process 1.5 million passengers annually and 800 people an hour at peak. Stayover arrivals in St. Vincent and the Grenadines totalled about 65,000 in 2016. Argyle International Airport is the second solar-powered airport in the Caribbean, following V.C. Bird Airport in Antigua. Facilities include two jet bridges, restaurants, bars and retail shops. Beache described the airport as a â&#x20AC;&#x153;game-changer for the region, not only for opening up St. Vincent to international travellers but also for enabling the diaspora outside the Caribbean to travel home more easily.â&#x20AC;? The former E. T. Joshua Airport will be demolished and plans call for development of a new city called New Kingston to be built on the site. Â¤

OECSBusinessFocus May / Jul

OECS MEMBER STATES

Caribbean Governance Training Institute Certifies New Chartered Directors In Antigua

Caribbean Governance Training Institute Certifies New Chartered Directors In Antigua In March 2017, the International Monetary Fund (IMF) reported a litany of fiscal challenges facing the Caribbean region, particularly the small island states of the OECS, recommending the principles and practice of good governance as a central strategy for stimulating GDP and economic development. The recommendations echoed those of the World Bank in January, in the report entitled “Governance and the Law,” which explores how unequal distribution of power in a society interferes with the effectiveness of government policies. Also in March, the Saint Lucia-based Caribbean Governance Training Institute (CGTI), was conducting its signature ‘Chartered Director Programme’ (C.Dir.) in Antigua, bringing together senior managers and directors from a range of organisations in the private and public sectors, to train them in many aspects of corporate governance. For three intensively packed days, incumbent directors and aspiring board members were treated to a series lively, interactive, often controversial sessions, designed to challenge their current thinking and offer modern strategies to age old organisational problems. It is no coincidence that since 2015, the CGTI team has increasingly been invited to deliver its C.Dir programme to delegates in Jamaica, Saint Lucia, Grenada, Barbados, Turks & Caicos and Dominica, among other Caribbean venues. The schedule covers every angle of good governance, from defining roles and creating accountability, to financial oversight and risk management, ethics and culture, strategic thinking and planning. The final C.Dir exam qualifies them as some of the first, professionally-certified Chartered Directors in the world. Across the spectrum of organisations from private corporations to public sector departments and NGOs, promoting ‘good governance’ is being revealed as the most effective way to navigate the complexities of doing business in the twenty-first century. In January, The Government of Saint Lucia became the first to undertake good governance training through the CGTI’s Chartered Director Programme. Eighty-five members of ‘senior management’, including fourteen Cabinet ministers, fifteen Permanent Secretaries and twelve Board Chairpersons, came together in an unprecedented training exercise. OECSBusinessFocus May / Jul

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For the second time in Antigua, local and regional delegates exchanged ideas and experiences, learning valuable lessons from private and public sector examples, challenging practical exercises and internationally famous case studies. Among the enthusiastic delegates, was Carol Spencer, President of the Antigua & Barbuda Cooperative League: “The knowledge gained through this program facilitated by CGTI will make me a more effective Board Member, taking the right decisions that can only result in a successfully managed organisation.” Janet Arlene Winter is the Human Resource Manager of Antiguas’s Financial Services Regulatory Commission, and recommended the C.Dir programme from her professional and personal persective, saying “I would encourage Directors and Managers . . . to invest in their professional development and pursue this Chartered Director Program.” With the regional spotlight on better fiscal planning, oversight and management at every level, the international faculty of the Caribbean Governance Training Institute continues to develop their reputation for excellence, delivering the harsh realities that board members face in today’s complex business world, and equipping them with a skill set that will repay the investment for years to come. Says CGTI co-founder and CEO, Lisa Charles, “It gives me a tremendous sense of satisfaction to know we are educating - and ultimately empowering - directors throughout the Caribbean, and making a real difference in the Boardroom. This will only lead to better run organisations, which is our ultimate goal at Caribbean Governance Training Institute.” The Caribbean Governance Training Institute will take the Chartered Directors Programme to St. Kitts from May 24-26, and Jamaica in September, while the third annual ‘Hot Topics in Governance’ conference will take place in Saint Lucia in July. For more information, please visit www. caribbeangovernancetraining.com or call the CGTI office on +1 758 451 2500. ¤ www.oecsbusinessfocus.com

Events

events 2017

Taste of the Caribbean June 2- 6, 2017, Miami FL

A celebration of the culinary arts of the Caribbean. Developing the professional skills of aspiring and established chefs. Showcasing to the public and region the ‘Taste of The Islands’. Taste of the Caribbean provides a forum for gathering practical information, developing skills, sampling, purchasing, strengthening established supplier relationships and meeting new vendors, all on hand to help Taste of the Caribbean registrants build food and beverage business – and yield benefits on the bottom line. This year’s Taste of the Caribbean will bring innovative and exciting educational sessions for food and beverage professionals that promise to enhance individual skills. For further information: https://www.chtataste.com/

37 th Annual Caribbean Insurance Conference June 4 -6, 2017 HardRock Punta Cana Hotel & Casino, Dominican Republic

Each year IAC Inc., hosts an annual conference that attracts a diverse participants’ profile of over 500 delegates from 38 different countries from the insurance, financial and business sectors. The objective of these conferences is to provide an information sharing and collaborative forum for Caribbean insurance regulatory authorities, insurance educational institutes, actuaries and other special groups with interest in the Insurance industry in the Caribbean. It is the organization’s aim to ensure that the relationships and cooperative arrangements that are formed at these events will continue to blossom into ongoing endeavours to benefit the industry. The Annual Caribbean Insurance Conference, renowned as the premier conference for professionals in the Insurance Industry also comprises a two-day exhibition, whereby companies will have the opportunity to showcase their products and services to the Caribbean insurance and financial services sector. For further information: http://www.stepcaribbeanconference.com/

2nd Annual Caribbean Aviation Meetup June 13-15, 2017 Sonesta Maho Beach Resort & Casino, St. Maarten

Risk Management & Competitive Intelligence Conference June 26 - 27 - Hilton Resort Barbados, Needham’s Point, Barbados

Leaders, CEOs, executives and senior managers today face an increasingly complex business environment which is more complicated to assess and adapt to. Geopolitical issues, increased competition, regulatory compliance, cyber-security and data management are just a few of the threats faced by leaders and decision makers of both regionally and globally. For further information: https://www.uwichsb.org/Events/RiskManagement/ OECSBusinessFocus May / Jul

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MAJOR MOVES

OECS Business Focus looks at Corporate Transitions

Ambassador of the Kingdom of Morocco to the Organisation of Eastern Caribbean States (OECS) The Ambassador of the Kingdom of Morocco to the Organisation of Eastern Caribbean States (OECS), H.E. Abderrahim Kadmiri, presented his credentials to the Director General of the OECS, Dr. Didacus Jules on Friday, April 7th 2017, at a ceremony held at the OECS Commission at Morne Fortune, Castries. The Ambassador was accompanied by senior diplomatic officials from the Embassy of Morocco. The Ambassador conveyed the greetings of the Government of the Kingdom of Morocco, and expressed deep appreciation for the warm welcome received by the Moroccan delegation. He remarked that “My accreditation today as the Ambassador of the Kingdom of Morocco to this very prestigious Organisation is a very special event. It is for me a very special day as it marks the beginning of a special and constructive relationship, one aimed at strengthening and deepening relations between the OECS and the Kingdom of Morocco”. During the meeting, the Director General and the Ambassador exchanged views on a broad range of development cooperation issues. Both sides agreed to commence indepth discussions in the immediate future, in order to pursue the common objective of deepening relations. The Embassy of the Kingdom of Morocco was established in Saint Lucia in March 2014 and covers all OECS Member States, as well as Barbados, Jamaica, Trinidad and Tobago, and the Bahamas. H. E. Abderrahim Kadmiri presented his credentials to Her Excellency Governor General Dame Pearlette Louisy as Saint Lucia’s Ambassador to Morocco in December 2016.

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Robert Bermudez Confirmed as the UWI’s 6th Chancellor The University of the West Indies (The UWI) is pleased to announce that Mr. Robert Bermudez has been appointed as its 6th Chancellor. The appointment came after members of the University Council accepted the recommendation of the Search Committee for the Chancellor at the Council’s annual business meeting, held on Thursday, April 27, 2017 at The UWI Cave Hill Campus in Barbados. The appointment of the Chancellor of the regional university is always made in accordance with the University’s Statute 4 which vests this responsibility solely in the Council—the highest governing body of the University. Now formally Chancellor Designate, Mr. Bermudez is expected to serve a sevenyear term beginning on July 16, 2017. He succeeds Sir George Alleyne who has served as Chancellor since 2003. The Chancellor holds the highest office in The UWI system and its powers and responsibilities are laid down in The UWI Charter, Statutes, Ordinances and Regulations. The Search Committee selected Mr. Bermudez as the best candidate to fit into the diversity of roles assigned to this office. Mr. Bermudez, a national of Trinidad and Tobago, has been an entrepreneur for over 40 years. He has led the growth of his family-owned business, to a regional business throughout the Caribbean and Latin America and has enjoyed a distinguished career in business, serving as either Chairman or Board Director for several other corporate bodies in Trinidad and Tobago and the Caribbean. His vision for the University outlines a keen sense of the mission, effectiveness, relevance and interdependence of academia and the economy. His professional experience as a Caribbean-wide entrepreneur with business acumen garnered from across the region suggests that he will continue the distinguished tradition of Chancellorship that this University has maintained throughout its history.

Dr. June Soomer Council Chairman for The UWI Open Campus The Council of The University of the West Indies (UWI) approved the appointment of Ambassador Dr. June Soomer as the new Chairman of the Open Campus Council at their annual meeting on Thursday, April 27, 2017 in Barbados. Ambassador Soomer assumes this post after the untimely passing of former Chairman, Sir K. Dwight Venner in December 2016. Ambassador Soomer is charged to formally guide the strategic, financial and administrative affairs of the Open Campus within the University’s new strategic direction, regional priorities and global initiatives. A St. Lucian by nationality, Ambassador Soomer is an historian by training and experience with diverse experiences through her work in the diplomatic, financial and education sectors in the Caribbean and internationally. She currently serves as the Secretary General to the Association of Caribbean States. With over 30 years of academic and professional experience functioning at the managerial, operational and technical levels, Ambassador Soomer has developed a solid understanding of contemporary development issues and continues to advocate for equality and equity in sustainable development, especially for the Caribbean region. Over the course of her career, Ambassador Soomer has served her home country of St. Lucia as well, including being the OECS Commissioner for St. Lucia, the Chair of the Technical Working Group on Associate Membership (CARICOM), Head of the Maritime Boundaries Delimitation Team for St. Lucia, a member of the CARICOM Committee of Ambassadors, a member of the Saint Lucia National Reparation Committee, and a member of the St. Lucia Nobel Laureate Committee.

www.oecsbusinessfocus.com

MAJOR MOVES

OECS Business Focus looks at Corporate Transitions

DDL Head Komal Samaroo has been elected the new Chairman of WIRSPA Komal Samaroo was recently elected as the new Chairman of WIRSPA – The West Indies Rum and Spirits Producers Association at a recent meeting in Barbados. Mr Samaroo is the Executive Chairman of the Guyana based regional conglomerate Demerara Distillers Limited (DDL) group of companies, producers of the well-known El Dorado brand of premium rums. In thanking his colleagues for the trust placed in him to lead the group, Samaroo said that it was a mark of maturity for the industry that leadership changes occurred within the context of continuity and thanked the previous Chairman, Dr Frank Ward, for his stewardship of the organisation over the past 10 years.

Mr. Steve McCready has been appointed as Resident British Commissioner for Saint Lucia. Prior to this appointment, Mr McCready was Chief of Staff to the Governor of Anguilla. He has also previously worked as Private Secretary to Foreign and Commonwealth Office Ministers covering the Caribbean and the Commonwealth. Mr. McCready took up his appointment on 20 March 2017. His initial meetings included courtesy calls on the Governor General, HE Dame Pearlette Louisy, members of government and others in the political, private and public sectors. He said on his appointment: “It is a great honour to represent the UK in St Lucia. Our countries have a close and important relationship. I look forward to working in partnership with a wide range of people in St Lucia to strengthen that relationship.”

Adele Jn Baptiste appointed General Manager Ms. Adele Jn Baptiste comes to the position with eleven years of experience in the General Insurance industry, two of which were focused on Life and Health Insurance in Anguilla. She has worked with Brokers and Insurers through various positions in the sector. Joining NAGICO St. Lucia Ltd. in 2011, Ms. Jn Baptiste was promoted in September 2015 and transferred to NAGICO Insurance Grenada Ltd. as Operations Manager, ultimately returning to her home base of Saint Lucia in February 2017 as the General Manager. Ms. Jn Baptiste’s education and qualifications include certificates in Underwriting, Claims and Management, a Bachelors of Science in Management Studies and she is currently due to graduate as a Chartered Property and Casualty Underwriter (CPCU) in July 2017. Patrick Boyce – Regional Claims Manager Mr. Ryeburn Boyce has acquired twenty-two years of experience in Life and Health Insurance. He started in the industry in 1995 in Barbados, and moved through various positions such as claims reviewer, senior claims processor, supervisor of claims and supervisor claims administration. In November 2012, Mr. Boyce joined the NAGICO Group as Regional Health Insurance Manager, based in St. Kitts & Nevis. From September 2014, he acted as Head of Medical Division, and was promoted to Senior Manager of Operations in April 2015. In October 2016, he was appointed Senior Manager - Claims/Operations, and in March 2017, Mr. Boyce was relocated to Saint Lucia to continue in the same role. The insurance veteran’s professional qualifications include Fellow Life Management Institute (FLMI), Health Insurance Associate (HIA), Associate in Insurance Regulatory Compliance (AIRC).

Doris Nol appointed Communications Officer as the OECS. Ms. Doris Nol, a national of Martinique, is a new Communications Officer at the OECS Commission to increase knowledge sharing and foster an inclusive atmosphere with the Francophone Member States of the Organisation. Ms. Nol holds a Bachelor’s degree in Marketing and Management and a Major Degree in Communications. Over the past 7 years she has worked in France, Brazil and her most recent position was at the Territorial Collectivity of Martinique. Ms. Nol is an autodidact in digital communications and social media strategy and founded the blog www.caraibexpat.fr. OECS Director General, Dr. Didacus Jules said the Commission was delighted to welcome Ms. Nol as a consummate professional as the Organisation seeks to enhance its capacity to consolidate ties with Caribbean French Territories through its Communications Program in both French and English. Dr. Carlene Radix - Head of the Health Unit Dr. Carlene Radix is a Public Health Physician and Health Administration Leader, who previously held the position of Medical Director at St. Jude’s Hospital in Saint Lucia. With a medical degree from St George’s University in Grenada, residency spent at Brookdale Hospital in Brooklyn and Overlook Hospital in Summit, New Jersey, and subsequently completed her Master’s degree in Public Health. Dr. Radix has held various positions in Clinical Medicine, Academia, Public Health and Administration, while continuing some aspect of volunteer practice. She has been an Assistant Dean and an Associate Professor at St George’s University, as well as served as the Chief Medical Officer of Grenada and Country Medical Officer of Tobago. OECSBusinessFocus May / Jul

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BUSINESS FOCUS

ADVERTISER’S INDEX Advertiser’s Index

COMPANY

AMLFC Institute

Page

Axcel Finance

Barbados Conference Services

Blanchard Customs & Freight Services

Caribbean Agro Industries Ltd.

Caribbean Awnings

Caribbean Line

Cave Hill School of Business and Management

CIBC First Caribbean

Cool Breeze

CXC Caribbean Examinations Council

Eagle Freight & Brokerage Services Ltd.

Exel Engineering

Free Zone Management Authority

Fresh Vitamins

Going Places

Grenada Steel Works Ltd.

KPMG

Open Camp UWI - Jamaica

Remax South Florida

RSI Architectural Design & Photography

Sagicor

Structrual Systems Limited

Travel Leisure

United Shipping Agencies

COVERS ECCO

OBC

Global Investments - ECFH

IBC

Caribbean Alliance Insurance

IFC

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