The State Of Russian Trade In Latin America

THE STAR BUSINESSWEEK OCTOBER 12, 2019

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THE STATE OF RUSSIAN TRADE IN LATIN AMERICA

Modern Russia holds a storied image internationally that no longer has a bearing in reality. In the days of the Union of Soviet Socialist Republics (USSR), Moscow went head-to-head with Washington in the battle to be the world’s most powerful economic force, but the modern era of Russia has seen it steadily losing influence as an economic power.

BY ED KENNEDY, STAR BUSINESSWEEK CORRESPONDENT Continued on page 4

IN THIS EDITION OF

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Russia’s Strategic Ambitions in Latin America

For a nation with a history so closely linked to the Cold War battle between the US and the Union of Soviet Socialist Republics (USSR), between capitalism and communism, Russia’s present foreign policy goals in the Caribbean and wider Latin America are pragmatic; or at least they must be in order for Russia to achieve anything that resembles the influence the USSR once had here.

Pages 3 & 7

Nurturing Entrepreneurship in the Caribbean Diaspora

Much has been made of the problems Caribbean entrepreneurs face in their home countries. From lack of finance to unreliable infrastructure, start-ups in the islands have a lot of hurdles to overcome if they are to monetise their aspirations.

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Russia’s Foreign Minister Sergei Lavrov and Grenada’s former Foreign Minister Elvin Nimrod sign an agreement on visa-free travel in September. (PHOTO: SHCHERBAK Alexander/Tass/Zuma Press)

Audience members at the 2018 CITE Summit.

(Photo courtesy CITE)

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BLUE ECONOMY

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BLUE BIO-TRADE: NEW STRATEGIES AIM TO INCREASE AQUACULTURE EXPORTS

BY CATHERINE MORRIS, STAR BUSINESSWEEK CORRESPONDENT

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Stephen Fevrier, Head of the OECS Permanent Delegation to the United Nations.

(Photo courtesy Stephen Fevrier)

he Caribbean has a rich resource – its marine and coastal environment.

From fish to seaweed, there’s plenty to trade beneath the waters but it’s vital that these type of exports are done sustainably, especially as the demand rises for applications in food, pharmaceuticals and personal care products. As blue bio-exports increase across the Eastern Caribbean, responsibly harnessing the power of the blue economy is helping governments diversify their economies and grow their domestic aquaculture.

TRADING POTENTIAL By 2030 the global ocean will be worth US$4.5 trillion and employ over 40 million people, according to the Caribbean Development Bank and the UN Development Programme. In the Caribbean, the blue economy (which covers all economic activity either directly or indirectly associated with the marine environment) is worth US$407 billion, according to the OECS, and, in some Caribbean countries, employs up to 30 per cent of the work force.

Addressing a recent UN Trade Forum, OECS Director General Dr Didacus Jules stressed the importance of marine resources as part of a wider strategy of economic diversification throughout

the region, saying: “Notwithstanding the vast potential of the ocean’s economy, the sustainable use and trade of coastal and marine based biodiversity products and services remain largely untapped, partly due to limited awareness among policy makers and businesses on their opportunities and value.

“Essentially, seizing blue trade opportunities has the potential to accelerate sustainable economic growth, export diversification, and create new avenues for both domestic and foreign direct investment.”

Some countries have been better than others at exploiting their blue potential.

Most notably, St Vincent and the Grenadines boosted its fish exports from EC$1.7 million in 2016 to EC$10.3 million in 2018. And the Eastern Caribbean has more to offer than fish – mollusks (such as conch), sea moss, and crustaceans are all in high demand also.

According to the OECS, the global algae products market was worth US$3.4 billion in 2017 and is expected to total US$6 billion by 2026.

The OECS is developing a project with the United Nations Conference on Trade and Development (UNCTAD) to help member states exploit the trade potential of its ocean economy. “The partnership between Continued on page 6

RUSSIA-LATIN AMERICA FOREIGN RELATIONS

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RUSSIA’S STRATEGIC AMBITIONS IN LATIN AMERICA

BY ED KENNEDY, STAR BUSINESSWEEK CORRESPONDENT

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or a nation with a history so closely linked to the Cold War battle between the US and the Union of Soviet Socialist Republics (USSR), between capitalism and communism, Russia’s present foreign policy goals in the Caribbean and wider Latin America are pragmatic; or at least they must be in order for Russia to achieve anything that resembles the influence the USSR once had here. Its ambition: to craft a future where Moscow’s authority in the region grows instead of recedes.

On the other side of the coin, nations throughout the Caribbean and wider Latin America recognise that Moscow’s influence is certainly not what it was in the days of the USSR but, as it retains a key role in a number of the region’s most high octane hotspots, for better or worse, its presence must be factored in to any future that sees peace and prosperity grow.

GETTING PASSED THE PAST The Russian state today retains the architecture of a great power akin to what the USSR once was. It is a nation with over 145 million people, covering a huge territory, with a nuclear capability and the capacity to project power across multiple oceans surrounding its borders, and the diplomatic nouse that comes with permanent membership on the UN Security Council, together with influence in other halls of power.

Despite this, Russia today is by no measure the global hegemon the USSR was.

AN AUTHORITY FIGURE FOR MOTHER RUSSIA Following the end of the Cold War, Russia spent much of the next decade re-imagining its place in the world.

Depending on your view, the 1990s was either a time of great optimism for Russia’s democratic future, or of great weakness, with the country adrift from its past. Either way, once the 2000s rolled around, Vladimir Putin arrived on the scene, and he has spent the last two decades working to restore and project Russia’s geopolitical strengths locally and globally.

Within Russia’s backyard, territorial incursions in Georgia during 2008 and Ukraine during 2014 confirmed to Russians and the international community Putin’s vision of a 21st century Russia: one where it retains dominance over the Eastern European

The Russian government could build a new relationship with Latin America - if it can overcome its past. (Source: Pixabay)

arena. In complement to this, Russia has faced accusations of violating the territory of nations like Sweden and South Korea with aircraft and submarines, alongside engaging in ongoing spats with the European Union.

Then there are the accusations of Russian-backed assassinations and poisonings of residents in the UK, like

Moscow’s influence is certainly not what it was in the days of the USSR but, as it retains a key role in a number of the region’s most high octane hotspots, for better or worse, its role must be factored in to any future that sees peace and prosperity grow

Sergei and Yulia Skripal in 2018, and allegations of Russian interference in the US presidential election of 2016. These confirm the impression that the Russian government does indeed behave like a “mafia state”, as US diplomats described in leaked diplomatic cables that were published by Wikileaks in 2010.

THE IDEOLOGY OF INCIDENTS Taken together, these incidents read like a roll call of a nation-state’s checklist for behaving badly on the world stage; but it’s the collective nature of them that is most critical to understanding modern Russia and to what is aspires in Latin America. Moscow has a quest for greater influence, certainly, but there is sometimes a strong armed element to its approach that can make allies and rivals alike uneasy.

Xi Jinping, the leader of Russia’s neighbour, China, won’t be winning a Nobel Peace Prize anytime soon, given the Chinese government’s destabilisation efforts in the South China Sea, but he has generally had a more measured and cautious approach to advancing China’s territorial goals. This speaks to the reality of the Russia-China relationship, and how it has inverted rapidly over just a few decades.

THE MOSCOW AND BEIJING RELATIONSHIP IN THE REGION Previously, when the USSR was reigning, Moscow knew – even when allowing for the tensions of the SinoSoviet split – that its global goals would be undermined if its fellow communist government in Beijing provoked outcry and isolation around the world. Today the Chinese government recognises that a reckless Russia will require it to prioritise resources up north, instead of down south in Asia where it envisions that its greatest growth in wealth and power will occur in years ahead.

For the relationship to function, Beijing must respect Russia’s ongoing vigil for its past, and Moscow must recognise the reality of China’s growing power – and this isn’t an easy balance to strike. Yet ultimately, these two nations share similar goals in Latin America.

Both are resistant to a Western-led world, confident in the supremacy of authoritarian models, and conscious that their survival depends upon their citizens continuing to believe that the greatest threat to their daily lives lies beyond their borders.

Continued on page 7

SBW

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RUSSIA-LATIN AMERICA TRADE

THE STATE OF RUSSIAN TRADE IN LATIN AMERICA Continued from page 1

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o longer inside the top ten global economies, Russia now ranks alongside Canada and South Korea, with an annual GDP of US$1.65 trillion. This decline is a matter of history, but the question of Russia’s future is a critical consideration, especially for a Latin American region that has long been an opportune area for Moscow to build new trade links that can be mutually beneficial.

MOSCOW-LATAM RELATIONS IN THE USSR ERA Defining where Russian-Latin American relations need to go in future must come with an understanding of the past. It is not a past that either side should be bound or defined by, but one with old and strong trading relationships that can be renewed, and where new links can flourish in the absence of the Cold War divide.

In the era of the USSR, Moscow initially had a somewhat slow beginning in its quest for influence within the region. This owed to the realities of geographic distance and the profound influence of the United States within the Americas; pre-World War II the US not only sought to consolidate its status as the region’s most powerful nation but to marginalise any remaining European influence that could challenge its supremacy.

There were also technological limitations that inhibited the ability of all great powers to build relationships at a distance, with the ease they do today.

In the post-war era, both Washington and Moscow had a new reach. Washington knew it needed to truly engage globally.

Moscow found new opportunity to do so in a Latin American region that was rejecting colonialism across the board, and seeking a new path to economic development.

Although the Cuban Missile Crisis of 1962 is seen by many as the quintessential example of Cold War strategic competition between Washington and Moscow in Latin America, in reality the USSR’s interests in the region were timid. It was only in the 1970s that the USSR’s presence within the region really kicked into gear. Moscow sought closer ties with governments that shared a desire to reduce US influence in the region, and provided them with political, economic and, where possible, military support. With Cuba already an ally, Nicaragua, Peru, Mexico, Argentina and Brazil were all key targets for Soviet support through the 1970s and 1980s, albeit with mixed success. Then, in 1989, the Berlin Wall fell and everything changed for Moscow and the world.

THROUGH THE 1990S TO TODAY Russia entered the 1990s needing to define a new identity, and it was a painful experience. The USSR was dead, the US economic model was predominant globally,

the European Union was growing in influence, and Moscow had the immense task of economic modernisation. Within Latin America, it began a new era with old friends. Russia rebuilt mutually beneficial ties with Cuba, helping the nation through its ‘special period’ and turning it into a tourism powerhouse, and enjoyed strong trading links with the Chavez regime in Venezuela.

As covered in our other Businessweek piece on Russia this week (starting on page 3), since Vladimir Putin’s succession of Boris Yeltsin and ascendancy to the presidency in 2000, he has presided over a return to a Cold War mentality in Russia’s foreign policy, and this informs the nation’s economics. Notwithstanding, modern Russia has found many new industries and opportunities within Latin America.

Central to this is the potential of Russia’s pharmaceutical industry, with Russian producers hungry for new markets, and Latin America providing a huge demand.

The pharmaceutical industry is abundant with variables that can impact its strengths, chiefly the high costs involved in research and production, and layers of red tape that can delay and frustrate production.

Nonetheless, in a market where the region’s two biggest economies, in Brazil and Mexico, already maintain strong pharmaceutical industries of their own, a growing involvement by Russia brings the potential for a greater variety of effective treatments, and greater affordability due to increased competition. While competition

with Brazil in this sector is one area of real promise for Russia, its partnership with South America’s largest nation is also critical to its future trade in the region.

BUILDING IN BRICS Russia has a strong regional trading partner in Brazil. Both have a traditional bilateral trading relationship and, more widely, are two members of the BRICS (Brazil, Russia, India, China, South Africa) association. Less than a decade

In the post-war era, both Washington and Moscow had a new reach. Washington knew it needed to truly engage globally.

Moscow found new opportunity to do so in a Latin American region that was rejecting colonialism across the board, and seeking a new path to economic development

ago this trading bloc was seen as the collection of states that would redefine economic power in the 21st century but, more recently, has become renowned for its underperformance. However, there has been recent uptick in BRICS engagement within the region, such as India’s announcement in late September of a US$14 million grant for Caribbean island states. This amount is not colossal in the grand scheme of BRICS GDPs but it is significant as a downpayment on future growth.

Meanwhile, beyond Brazil, Russia has made modest economic gains on its evolving relationships with other nations, namely Mexico, Bolivia and Venezuela. While total Russian trade in Latin America was just US$12 billion in 2016, this represents a 44 per cent increase in volume from 2006. The greatest inhibition to future growth is not the reluctance of regional partners, but Russia’s woes that emerge out of Moscow.

THE MORE THINGS CHANGE . . .

Moscow’s aspirations for Latin America continue to be informed by its relationship with Washington. Yes, the era of Cold War politics is over, but Putin’s decision to rekindle and inflame old disputes has seen the Russian economy wracked by sanctions. In turn, Washington’s partners in the region have been pressured to punish Russia and resist closer ties.

ENTREPRENEURSHIP

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NURTURING ENTREPRENEURSHIP IN THE CARIBBEAN DIASPORA

BY CATHERINE MORRIS, STAR BUSINESSWEEK CORRESPONDENT

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uch has been made of the problems Caribbean entrepreneurs face in their home countries.

From lack of finance to unreliable infrastructure, start-ups in the islands have a lot of hurdles to overcome if they are to monetise their aspirations.

Entrepreneurs in the disapora occupy a different environment, but face similar challenges. With the right support, however, this economic powerhouse can be mobilised to help its members, their families and their communities back home.

COMING TOGETHER Jamaican Georgie-Ann Getton-McKoy is on the front lines of supporting and enabling disapora entrepreneurs. The New York-based businesswoman established Caribbeans in Tech and Entrepreneurship (CITE) in 2014, while she was still in college, to address a longstanding issue in her new home.

“I was going through the ecosystem of the start-up community at that time and I saw there were groups for Latino entrepreneurs, women entrepreneurs, black entrepreneurs, but no specific group for the Caribbean,” she says. “I felt like we have such a niche culturally, and aspects of that should be celebrated and recognised.”

Five years on, CITE has over 800 members hailing from all over the Caribbean including Jamaica, Trinidad and Tobago, Haiti, Montserrat, Martinique, Dominica and Saint Lucia.

The group holds regular meetings, conferences and workshops. It also hosts a yearly summit which includes a pitch competition. CITE’s mandate is to help members realise their business ambitions through support and networking. GettonMcKoy explains: “I know from personal experience that having community support and having people who understand what you are doing allows you to grow as a business owner and an entrepreneur.

“You need people at the same level, or close to your level, so you can let your hair down with someone who is going through it with you. At the core of everything, CITE is a community.

We want folks to be able to tap their neighbour for resources and to share ideas and get feedback. We have that honesty and transparency with each other.”

CITE members are mostly involved in the ICT fields but the group is open to all industries. For those outside the tech sphere, Getton-McKoy wants to help them become more comfortable with emerging technologies and says: “Everything is becoming more tech-

The members of the CITE Board, from left to right: Jamie Jimenez, Kerry-Ann Reid-Brown, Malcolm Paul, Georgie-Ann Getton-Mckoy, Mikelah Rose-Malcolm. (Photo courtesy CITE)

centred. People are booking online and paying online and if you are not up to speed on that process, you will miss out on opportunities. We are getting people to become more digital and see the world as a global ecosystem.”

this network organically. I attended lots of events and conferences to learn, see and explore. Often I was the youngest person in the room or the only woman, or

EXPANDING THEIR REACH CITE is currently funded through donations and paid memberships. It has also been supported by partnerships with the corporate world, with big names such as Facebook, Google and the New York Times providing conference facilities, event hosting and resources. Members benefit from established connections with companies and stakeholders – connections that were fostered by GettonMcKoy as she navigated the business world in the early days of CITE. “I built

Diaspora entrepreneurs help their home countries in a number of ways, from financial transfers and remittances to trade partnerships and networking opportunities.

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the only person of colour, so people were interested in me and I was able to build natural relationships.”

CITE is soon to become an official non-profit and is focused on expanding its reach with plans to open chapters in three more US cities (Atlanta, Miami and Washington DC) by the end of 2020.

Getton-McKoy hopes that reaching more of the entrepreneurial diaspora will not only spread the message in the US, but also positively impact the Caribbean. “We don’t just want to help Caribbeans in the US but also the Caribbean islands,” she says. “We left our countries for opportunities in the US and a lot of our family members are still in the Caribbean struggling. A lot of our members are supporting themselves and their families, sending money and supplies home.

“The ones who left the Caribbean were the lucky ones, in a sense. There are a lot of people with the education and the work ethic but they just did not get lucky with their immigration processes.

It is our responsibility to figure out ways to help those who are not so lucky but have that same drive to change their lives and improve themselves and their communities. The people looking for opportunities in the Caribbean are hard workers and early adopters but we need to help build up the ecosystem down there because a lot of people are leaving.”

Diaspora entrepreneurs help their home countries in a number of ways, from financial transfers and remittances to trade partnerships and networking opportunities. CITE resources are available to entrepreneurs in the Caribbean through virtual webinars and conferences, and Getton-McKoy says having that digital community can help regional start-ups develop the confidence they need to grow. “Networking and support is one of the biggest issues for entrepreneurs. There is a fear of failure.

There is this idea that you have to be great right from the beginning and, even when it is perfect, it is still not good enough. People do not want to go through that mental rollercoaster. They do not want to disappoint their families and communities. You have to fail, sometimes multiple times. That is the only way to learn, grow and transform.”

Getton-McKoy has had her own share of set backs, starting multiple companies and her own clothing line, but remains committed to her true passion. “I focus on execution and helping people get out there instead of having this beautiful, great idea that no-one has seen or used or interacted with.

“There are so many people excited about CITE. Every day someone will tell me about a connection they’ve made and every day I see how members are benefitting. I’m inspired by talking to people impacted by the group and just thinking and dreaming about the end goal. It’s unbelievable. It took a little while to get here, but I could never have imagined this.”

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BLUE ECONOMY / COMPANIES OFFICE

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BLUE BIO-TRADE: NEW STRATEGIES AIM TO INCREASE AQUACULTURE EXPORTS Continued from page 2

UNCTAD and the OECS is a symbiotic one,” explains Stephen Fevrier, Head of the OECS Permanent Delegation to the United Nations. “On the one hand, the OECS countries possess all the necessary natural resources to benefit more fully from the blue economy, and on the other hand, UNCTAD has the required track record and technical expertise to help the OECS to realise the benefits.”

Fevrier says the strategy will encompass “priority products”, including queen conch and algae-based exports, and adds: “Algae-based products have less value per weight but have a much higher potential for growth, R&D and product development. For example, sea moss drinks, fertilizers and personal care products can be derived from sargassum.

Sargassum is an invasive species so the idea is to use as much volume as possible and transform it into value added products.

“OECS countries have been trading small volumes of these marine products with low levels of value addition. The idea is to ensure that there is sustainable harvesting, increase value addition by local communities, enhance product

OECS Director General Dr Didacus Jules addresses the 5th BioTrade Congress in September. (Photo courtesy UNCTAD)

diversification and find markets for these products. However, the potential is largely untapped due to limited awareness among policy makers and businesses on its opportunities and value.”

Hoping to tap into this value, the OECS project will be undertaken in two phases, the first focusing on algaebased products and the second on queen

conch. Both will take two years and run consecutively, ending in 2024. “It is expected that at the end of the project, OECS Member States will be in a better position to produce and export highquality, niche and sustainably harvested coastal and marine products to world markets,” says Fevrier who stresses that the benefits will be felt at every level of coastal communities. “The idea is that small producers at the lower end of the value chain are trained and supported by higher levels of the value chain. The higher level of the value chain in this case is willing to share benefits and train providers so that they can comply with the requirements in terms of quality and volumes. There is a mutual interest that the value chain is sustainable as a whole and that all actions benefit the relevant stakeholders, leaving no one behind.”

COMMUNITY BENEFIT The OECS is also collaborating with the Caribbean Natural Resources Institute (CANARI) to draw up an OECS Regional Green-Blue Economy Strategy and Action Plan. Both this initiative and the UNCTAD project have sustainability at their core.

CANARI Senior Technical Officer Alexander Girvan explains: “Native blue biodiversity provides significant value to the region in the trade of sea moss, lobster, conch, food products, as well as numerous shells and other materials for artisanal and craft products. In many cases, rural communities have managed these ‘blue industries’ in a sustainable way with positive, social environmental outcomes, and generating significant value. Unfortunately, over time, many other cases have emerged where outside pressures and demands for these products have made their production methods or associated practices unsustainable.”

Another vital principle for CANARI is economic equity. Aquaculture in the islands is dominated by small operations which face greater challenges than large-scale processors. As the industry grows, it’s important to ensure it is not exploited and that the benefits are felt at the grassroots level.

“If the economic benefit of the trade goes mainly to external actors, this becomes unfair to Caribbean people and, in particular, local communities and resource users. By definition, blue bio-trade should operate under criteria of environmental, social and economic sustainability,” says Girvan.

The OECS strategy, supported by CANARI, will look at regulation, financing and other programmes to specifically support micro, small and medium enterprises, with the ultimate aim of empowering island communities.

Girvan says: “Wealth creation is most valuable where it improves the lives of those most vulnerable to environmental change and those most in need of economic support. The OECS Regional Green-Blue Economy Strategy and Action Plan should have components focused on supporting MSMEs, growing rural economies and livelihood development for improving people’s well-being. By focusing efforts on helping these most vulnerable, we make positive outcomes for those in most need, more likely.”

The Saint Lucia Registry of Companies & Intellectual Property Company Incorporations Name: RKG Farms Limited

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Chamber: SEDU

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RUSSIA-LATIN AMERICA FOREIGN RELATIONS

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RUSSIA’S STRATEGIC AMBITIONS IN LATIN AMERICA Continued from page 3

When Russia’s perpetually unpredictable behaviour is considered, alongside China’s more measured approach to growing influence in the region, and the shared goal to undermine US influence here, a clear picture can be formed of the international undercurrents that impact domestic disputes within the region, as in Venezuela.

In March of this year, Russia’s existing troop deployment in Venezuela – part of an ongoing partnership between Moscow and Caracas – saw the addition of around 100 extra Russian boots on the ground. This did not enhance the prospects of a peaceful resolution to the nation’s leadership crisis, but it certainly advanced Russia’s interest.

So too its ongoing friendships with the governments of Cuba and Nicaragua.

The friendship with Cuba enables Russia to bolster Cuba’s quest to be a perpetual thorn in the side of Washington’s interest in the region.

The friendship with Nicaragua sees Moscow rebuilding to strengthen a relationship that never disappeared once the USSR fell but, for many years, was a shell of its former self. Since 2014 Moscow has been supplying weaponry to Nicaragua; in 2015 it won approval for a satellite ground station in the Central American nation and, in 2018, it sought to block UN involvement in the nation.

RUSSIA IN THE OECS In tandem with its ventures elsewhere in wider Latin America, Russia has been developing new relationships within the Caribbean. Overall, Russia’s presence in the region, compared to that of other powers such as China, remains small. However, by many measures, this current chapter has the highest level of engagement since the Cold War, with a number of new high-profile deals struck between Moscow and regional nations.

In 2017 Russia and Grenada agreed to a visa-waiver deal that would allow Russians and Grenadians to travel between their two nations without

Russia’s President Vladimir Putin (left) shakes hands with Venezuelan President Nicolas Maduro. (AP Photo/RIA Novosti, Alexei Nikolsky, Presidential Press Service)

a visa, doing so while also flagging an increase in discussions around technical co-operation. In 2018 the Dominican government announced it had also secured a visa-waiver agreement with Russia.

The same year Moscow announced it was pursuing closer military ties with Suriname, including the signing of an agreement on military-technical cooperation.

The regional relationship with Russia also has room to grow further beyond government-to-government ties exclusively. Russians are well-represented in the region’s many citizenship by investment programmes. More widely,

In March of this year Russia’s existing troop deployment in Venezuela – part of an ongoing partnership between Moscow and Caracas – saw the addition of around 100 extra Russian boots on the ground

Russian tourism to the region has been flourishing in recent years. As well as the longstanding popularity of Cuba among Russian travellers, the past decade has seen the Dominican Republic and Jamaica experience a surge in Russian visitor numbers.

Collectively, these trends affirm that even if Russia’s official presence in the Caribbean is small right now, it is growing in a number of commercial areas. If the Russian government can devote its energy to properly supporting this public and private activity, these could be the early days of a promising new era of SBW economic growth.

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