STAR Businessweek - 3 Feburary 2018 by STAR Publishing

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WHAT BRAZIL’S COMEBACK MEANS FOR THE CARIBBEAN BY ED KENNEDY, STAR BUSINESSWEEK CORRESPONDENT

Davos 2018: ‘Unfair’ Panama was put on tax blacklist says president Including Panama on the EU’s tax haven blacklist was “unfair”, the country’s president has said. Page 3

Latin American populism fears overdone as stocks play catch-up The world economy is enjoying a synchronised advance, and markets are enjoying the ride. But one region is missing out: Latin America. Page 7

The Caribbean will forever have a special relationship with the Americas. Our region has its own unique identity, but also shares similar political traditions, and cultures with a number of nations north and south of us. In the south especially, we’ve shared with a shift from European rule to governance and growth in our own right. For many years, Brazil was a leading light of a new era in Latin America. It all went wrong economically in 2013, but now a comeback is on the cards. What does this new chapter in Brazil’s economic growth mean for our region? And where can the Caribbean grow ties with South America’s biggest economy? Let’s look now. Continued on page 4

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TRADE BOOMS AMID UNCERTAINTY BY CATHERINE MORRIS, STAR BUSINESSWEEK CORRESPONDENT

The STAR Businessweek BY CHRISTIAN WAYNE – EDITOR AT LARGE One never knows who he or she will offend these days – with the more terse of us often finding folly whilst aiming simply for forthrightness. Incredulously, the preceding sentence was crafted as a disclaimer for the proceeding in which I will be making a reference to the Global South (in case you didn’t know, readers, we’re supposed to scoff at terms such as ‘the global south’ these days) but while I recollect this month’s earlier, now old, but always ‘fake’ headlines decrying President Donald Trump’s shithole comments, I feel even more compelled to rally the cause of calling for deeper South-South relations among developing countries. In this week’s issue of The STAR Businessweek, we’re doing just what the good Doctor (and former Prime Minister) ordered in 2014 and are pursuing those non-traditional friendships he was so fond of (sorry Iran, we’re still not talking about you). Through taking a macropolitical look at one of Latin America’s key engines of growth, we consider what Brazil’s Comeback Means for The Caribbean starting on page 1. Latin American and the Caribbean are collectively home to over 640 million people and comprise of over 8% of the world’s population, making it the fourth largest region in the world after Asia, Africa, and Europe. Despite this, we’ve always been labeled as global underperformers, you know the type, the lazy lot. According to ECLAC, however, that tide may be turning. Read more on Latin America and the Caribbean’s economic outlook on page 7 in Trade Booms Amid Uncertainty.

The STAR Businessweek Nothing Personal. It’s Just Business. Stay connected with us at: Web: www.stluciastar.com Social: www.facebook.com/stluciastar Email: starbusinessweek@stluciastar.com

Latin American and Caribbean economies are set to grow this year following a welcome rise in foreign trade, but the region will have to evolve if it wants to sustain growth in a rapidly-shifting landscape. After four years of poor performance, foreign trade from Latin America and the Caribbean finally showed an upswing in 2017 - and looks set to continue that trajectory through 2018. However, the Economic Commission for Latin America and the Caribbean (ECLAC) caution that this growth will only be sustainable if the region is prepared to collaborate, innovate and remain agile in the face of global uncertainty. World trade has been weak since the global financial crisis of 2008/2009, hampered by reduced trade liberalisation, faltering demand and stifled global value chains. However, increased growth in the United States, the Eurozone and China had a positive impact in 2017, boosting global trade by 3.6 per cent in comparison to a prefinancial crisis growth rate of 2.2 per cent. Latin America and the Caribbean is expected to grow by 2.2 per cent in 2018, according to the ECLAC report, International Trade Outlook: Recovery in an Uncertain Context. Both imports and exports performed well in the region over the past year, with the former predicted to rise by 7 per cent, and the latter 10 per cent.

THE DIGITAL REVOLUTION

Although signs are positive, ECLAC still predicts global uncertainty in the mediumterm. The growing emergence of populist political movements combined with the digital revolution overtaking more traditional trade will create a challenging environment, forcing the Caribbean region to be more agile and resourceful. Thanks to an increasingly digital world, trade now encompasses not only physical goods and services delivered by traditional means, but also physical goods and services delivered through digital platforms, as well as those goods and services that are entirely digital and intangible. This shift has sometimes left regulators scrambling to keep up, with tardy policymakers contributing to market uncertainty. Despite the uncertainty, digital is the fastest growing segment of global trade, with huge potential. According to figures from ECLAC, ‘modern’ services i.e. those traded over the internet (telecommunications, computer and information services, financial services, insurance and other business services) show the most activity, growing by 6.7 per cent per year between 2005 and 2016. In contrast, traditional services such as transport, travel and

According to ECLAC, as developing regions like Africa build up their middle class, agricultural exports present huge potential.

construction services grew by 4.5 per cent annually in the same period. Unsurprisingly, Latin America and the Caribbean lag in the provision of modern services, accounting for just 2 per cent of exports in this category. The countries that have made successful inroads into these markets are those with developed digital ecosystems with, for example, digital platforms used by governments, producers and consumers. The creation of e-platforms, along with legislation on data protection and cyber-security, are necessary to encourage thriving modern services exports.

TARGETING AGRICULTURE

Another profitable area is agriculture, worth US$ 1.69 tn annually. In 2015, Latin America and the Caribbean contributed 13 per cent to the world’s agricultural exports, with most going to Asia, closely followed by the US. Over the past decade, staples such as shrimp, orange juice and wheat fell out of favour and were replaced by more in-demand products such as maize, poultry and soybeans. To increase trade in this crucial area, ECLAC suggests that the Caribbean pursue niche markets. Gaining organic certification, acquiring international standards certificates and using trademarks can all help producers charge a higher price and build demand. In addition, targeting the market for ‘functional foods’ i.e. those with a health benefit, can reap rich rewards. As the world’s population steadily continues to rise, and developing regions like Africa build up their middle class, there is huge potential in agricultural exports, according to ECLAC. Seizing this

opportunity will require a concerted effort in the Caribbean to move away from traditional farming into practices that are less devastating to the environment, and deliver a more specialised product. Export diversification, supported by proactive and considerate public policy can help the region make inroads into this profitable niche.

SHORING UP GROWTH

While predictions and forecasts can help economists determine the likely path of the world’s economy in 2018, it is still a fluctuating and volatile market. Small, developed nations such as those in the Caribbean must take steps to ensure they aren’t upended by the ripples from a global seismic shift. ECLAC warns that positive numbers from the region so far are less to do with domestic growth, and more a result of rising commodity prices. To help the region underpin this recovery, the Commission suggests the Caribbean increase its focus on intraregional trade, fostering greater regional links and removing barriers to market for SMEs. Deeper regional integration through regional trade agreements would help remove non-tariff barriers and level the playing field for Caribbean SMEs. The commission also highlights the need to strengthen production chains and capacity, allowing the region to diversify its exports.

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DAVOS 2018: ‘UNFAIR’ PANAMA WAS PUT ON TAX BLACKLIST SAYS PRESIDENT BY FT CORRESPONDENT

Juan Carlos Varela Rodríguez, President of Panama

The infamous central american offshore financial center was moved to ‘grey list’ after promising reform

Including Panama on the EU’s tax haven blacklist was “unfair”, the country’s president has said. “I think Panama was erroneously included. It was a mistake,” president Juan Carlos Varela said on the sidelines of the World Economic Forum in Davos. Earlier this month, European officials recommended that eight countries, including Panama, be moved from the EU’s tax haven blacklist to its grey list, after they promised to reform. The move was described as “laughable” by Markus Ferber, German MEP and member of the European Parliament’s Economic and Monetary Affairs

Committee, who added that coming so soon after the Panama Papers scandal, pardoning the central American country was “hard to beat in terms of naivety.” But president Varela told the Financial Times that the initial inclusion on the blacklist was a result of a “miscommunication”. He added: We don’t agree with including countries in a list. Treating friends like they did with us . . . put pressure on diplomatic relations. The Panama Papers was a global issue not a Panamanian issue. It was very unfair to put the name of Panama to a global problem like tax evasion. The country has stepped up efforts to fight

“I think Panama was erroneously included. It was a mistake,” president Juan Carlos Varela said on the sidelines of the World Economic Forum in Davos

corruption and is offering an amnesty to companies that have inappropriately avoided tax in the past, he said. “If they plead guilty and return the money they can close the chapter and move forward with their life.” Mr Varela added that the decision to sever diplomatic ties with Taiwan last year was “the right thing to do”. As a result of the recognition of the One China policy, Panama is now working with a number of Chinese companies looking to use Panama as a regional hub, as well as using Chinese expertise for a rail project linking to Costa Rica.

SAVE THE DATE! SAINT LUCIA JAZZ 2018 7-13 MAY 2018 MONDAY 7 MAY BARBARA CADET & DENYS BAPTISTE TUESDAY 8 MAY PAULINE JEAN & ARNAUD DOLMEN WEDNESDAY 9 MAY ZARA MCFARLANE & ETIENNE MBAPPÉ

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WHAT BRAZIL’S COMEBACK

Since the end of the military dictatorship in 1985, the country has had four directly elected Presidents and two impeachments

WHERE BRAZIL HAS BEEN

To discuss where Brazil is today, it’s necessary to first recap where it’s been. For much of the early 2000’s, it was a great economic success story. Appearing to usher in a new era of promise for the nation and all of Latin America, at one point in 2012 Brazil even overtook the UK to be the world’s sixth largest economy. The turn towards democracy in 1988 has been cited as the beginning of this new era of prosperity. The high demand for commodities in growing economies around the world was a key draw, and so too its agricultural sector, which amassed a $75 billion trade surplus in 2015. This growth has been severely tested in

other areas of the economy and national life however. Throughout this period accusations and corruption charges flew back and forth among the political class. Growth slowed in 2013, a recession came in 2014, and suddenly Brazil’s readiness to host the Rio 2016 Olympic Games - an event that was intended to signal Brazil’s emergence as a real global leader on the world stage - was thrown into grave doubt. That was then; the economy tanked, the Olympics embattled, and Brazilians ready to turn the page. There are signs now that’s occurred, with Brazil’s economy projected to grow 1.5 per cent in 2018. Brazil’s state bank BNDES forecasts it’ll be closer to 3 per cent, and

Brazil has many challenges. Its economy can grow independent of the government, but its real potential will benefit greatly by a return to political stability

maybe even more. Either way, even the conservative estimate is a big boost on the projected growth of just 0.5 per cent for 2017. So now growth is returning, what can Brazil bring anew to the Caribbean?

BRAZIL AND THE CARIBBEAN

As two areas with a number of developing nations, South America and the Caribbean have often been drawn to regional bodies as the best way to focus on building ties and growing trade. Though Brazil’s recent economic turbulence has seen its national focus at home, previous to this period Brazil had been a key growth area for CARICOM. So much so, trade more than doubled (the balance of which in Brazil’s favour) from US$ 530,600 in 2003, to US$ 1,183,000 by

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MEANS FOR THE CARIBBEAN

mid-2017 saw current Brazilian President Michel Temer accused of taking bribes from meatpacking company JBS. Temer denied the allegations and continues to serve, but this episode was another blow to the confidence in Brazilian leadership at home and abroad. Ultimately, across each of these presidents, such political instability has been no help to Brazil’s economic growth and business confidence, and even its soft power, is damaged hugely by it.

Less than 2 years after his predecessor’s removal from office over allegations of corruption, Brazil’s President, Michel Temer, faces the possibility of a similar fate

BUILDING BLOCKS WITH BRIC

2012. This in the same period Brasilia was seeking to open an embassy in every CARICOM member state. Brazil’s work shows while the economic and political history of the Caribbean largely resides in the north, it intends to entice us into looking south. The Brazilian government has also been active beyond trade, joining the Caribbean Development Bank in 2016. Though Brazil is a non-lending member (alongside Mexico, Colombia and Venezuela), it’s addition to the Bank’s membership provides it a strong voice in our locale and beyond for shared goals like sustainable development and reducing poverty. It also illustrates a key element of Brazil’s relations with our nations. Given

the massive size of Brazil’s economy, Brasilia can be a leading voice for Latin America, and act independently of it. Recognising Brazil’s capacity to build ties between South America and the Caribbean, and build relations independently with regional groups and nations, is key to its future and ours.

POLITICS AND ECONOMICS

With new growth comes a return to ‘business as usual’, right? Not exactly. For its a reality Brazil’s is not an isolated event as much as part of an ongoing phenomenon. As well as economic turbulence, the Brazilian people have also experienced great political instability in recent years.

Love is in the air!

President Dilma Rousseff was impeached in 2016 for alleged corruption. Her critics contend she got her due for presiding over a government beset by many scandals, and her own conduct, including alleged ‘creative accounting’ of economic indicators, a practice that the Brazilian federal court ruled illegal. Supporters contend charges were trumped up, and the impeachment was really about class warfare in a nation with one of the greatest richpoor gaps in the world. The present case against Rousseff’s predecessor and fellow Workers’ Party leader Lula Da Silva - who was planning to run for president once again in the upcoming election - is viewed by Lula’s supporters in this same vein. To make matters worse,

CORE TAKEAWAYS

Brazil has many challenges. Its economy can grow independent of the government, but its real potential will benefit greatly by a return to political stability. It is also clear neither the Caribbean, nor other more rapidly growing global economies will wait for Brazil. In the Caribbean and globally, many people cheer the chance Brazil can begin again in 2018. It’s hurdles to doing so are not small, but a new generation of Brazilians experienced the recent era of enviable growth in their country. Such history can be a strong guiding star for the path ahead.

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The proximity and cultural ties Brazil holds with the Caribbean are advantages to its prospects, but it’ll also face increasing competition from other growing nations. Especially India, China, and Russia, the other members of the BRIC bloc. These economies are growing with a central focus on their own neighborhood first, and for now, on building business links in the rapidly growing Asian market. The Caribbean may have long been identified by Brazil as a logical area to expand its trade and diplomatic influence in future - but that future will soon be contested by rival nations. As a result, Brazil can’t afford to think our region is just one that will simply always be there ready for growth, as the investment of China alone in the Caribbean has shown it to be a contested space. This also adds a new dynamic to the future work of BRIC and other regional bodies, as Brazil does aspires to a more powerful Latin America - but not at the expense of its national standing.

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CORPORATE

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The Saint Lucia Government Gazette Company Registration Name: White Nights Caribbean Inc. Description: Event Planning Directors: Chantal Norville; Nerdin St. Rose; Tracey Warner Arnold Date Incorporated: 22-Jan-18 Chamber: SEDU, Saint Lucia

Name: Solid Investment Group Inc. Description: Import and export of shell fish; Production and bottling of local juices; Vehicle rentals Directors: Chris Hippolyte; Donovan Denis; Ezra Augustin; Kevin Albert; Kurt Louis; Joakim George; Stephen Edmund Date Incorporated: 22-Jan-18 Ambassador Douglas Shen of the Republic of China (Taiwan) donates over EC$ 1 million to the Government of Saint Lucia (Left-to-right: Herod Stanislaus, Ambassador Douglas Shen, and Ezechiel Joseph)

TAIWAN SUPPORTS REHABILITATION OF SAINT LUCIA’S FISHERIES FACILITIES Press Release

A donation ceremony for the rehabilitation of the Praslin and Savannes Bay Fisheries Facilities was held at Savannes Bay earlier this week. Hon. Ezechiel Joseph, Minister for Agriculture, Fisheries, Physical Planning, Natural Resources and Co-operatives, Hon. Herod Stanislaus, Minister in the Ministry, H.E. Douglas Shen, Ambassador of the Republic of China (Taiwan), fisheries officers and residents attended the ceremony. Ambassador Shen, on behalf of the Taiwan Government, presented a sum of EC$ 1.4 million to sponsor the program. During the ceremony, Ambassador Shen said that fishing is one of the most important economic activities to the local people and to promote the development of the fishing industry in Saint Lucia, the two governments have worked together on similar initiatives since 2007 and have achieved several concrete achievements as a result. For instance, the Aquaculture project that was successfully handed over to the Saint Lucian government last year, has facilitated capacity building of all stakeholders and has made Saint Lucia the top aquaculture country in OECS. Also, first aid kits and ice

boxes on vessels have been provided to many fishers, and the jetties in Praslin and Savannes Bay have also been rebuilt. He noted that the Taiwanese government will continue to work with the Saint Lucian government to enhance the working environment for the local fishermen and bring benefits to the coastal communities. Both Hon. Ezechiel Joseph and Hon. Herod Stanislaus expressed their thankfulness to Ambassador Shen and the Taiwanese government for their generosity in supporting the development of the fisheries industry. Minister Ezechiel Joseph emphasized that Praslin and Savannes Bay are premier fishing sites on the island. The need for infrastructural improvements in the two communities is imperative. He also promised that maintaining sustainability of the fisheries industry will continue to be one of the main priorities for the Ministry. The renovation of the site will include the construction of a boat ramp to facilitate landings as well as a washroom facility for enhanced processing and sanitation of fish products for public consumption.

Chamber: SEDU, Saint Lucia

Name: Seafarer Cluster Ltd. Description: Holding Company Directors: Peter Sylvester Date Incorporated: 22-Jan-18 Chamber: Self-incorporation

Name: Gablewoods House Inc. Description: Generally do any other business which is not restricted by law Directors: Patrick Isaac Date Incorporated: 24-Jan-18 Chamber: Temple Law Associates, Saint Lucia

Name: Lucias Best Inc. Description: Tours and taxi servies Directors: Carswell Francis Date Incorporated: 24-Jan-18 Chamber: Self-incorporation

Name: American Home Décor Ltd.

SECURITY PRINTING

Description: Retailer of household supplies Directors: Mohammed Yasin

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LATIN AMERICAN POPULISM FEARS OVERDONE AS STOCKS PLAY CATCH-UP BY FT CORRESPONDENT

Luiz Inácio Lula da Silva is a frontrunner in the upcoming Brazilian election, providing he can quash a prison conviction for corruption

The world economy is enjoying a synchronised advance, and markets are enjoying the ride. But one region is missing out: Latin America. This could be a pivotal year for the entire region. Brazil, Mexico, Colombia, Costa Rica and Paraguay all have elections for head of state this year, as does Venezuela (although there has to be some doubt over whether that one will take place). Even Cuba will have a new head of state, whose surname will not be Castro. This could be significant as foreign investors have a long and undistinguished history of over-reacting to Latin American political developments. The arrival of a populist autocrat in power often leads to a collapse in confidence (and the sad history of Venezuela over the past 20 years shows why that might be). Most of the time, however, angrysounding populists tend to behave more sensibly once they are in power. The most spectacular example by far was the rally for Brazil after Luiz Inácio Lula da Silva (Lula) was first elected in late 2002. Treated in advance as an Armageddon scenario, it turned out that Lula was pragmatic in power, while the commodities boom took shares in Brazil to the moon. From November of 2002, when Lula wrapped up the presidency, to December 2007, the MSCI Brazil index gained more than 1,000 per cent. This was

triple the rise in the emerging markets as a whole. What are the chances that the continent’s continuing love-hate relationship with populist caudillos creates a buying opportunity like that this year? It cannot be ruled out, although something as dramatic as the Lula rally of 2002 is hard to imagine. Latin America is not compellingly cheap at present, trading at a trailing price/ earnings multiple of 17.7, according to MSCI. The p/e for emerging markets as a whole is 15.1. Brazil is through the worst of the horrendous political mess that saw the impeachment of former president Dilma Rousseff and has started an economic recovery, but this has been greeted overexuberantly in markets. Buying in early 2016 would have led to a profit of 160 per cent by now. Countries south of the Panama Canal are almost all exposed to China, so continued growth there will help perceptions of Brazil and the Andean economies, and another slowdown would be harmful. Mexico remains acutely exposed, in more ways than one, to the US — particularly at present to the risk that the US could decide to withdraw from Nafta, the free-trade agreement. Moves in the biggest building blocks of the world economy could drown out any political excitement in the region itself. But the region is still palpably missing out on the excitement elsewhere. Since the election of Enrique Peña Nieto in Mexico in

Countries south of the Panama Canal are almost all exposed to China, so continued growth there will help perceptions of Brazil and the Andean economies, and another slowdown would be harmful

July 2012 ignited the last wave of optimism, Mexico and Brazil are down 11 and 14 per cent respectively, while emerging markets are up 32 per cent. There is room for them to move forward a long way in a hurry, and room for plenty of confusion and volatility in the coming months as the two most important elections are impossible to call at this point. Mexico has a single-round election, so presidents can and do win election with less than half of the electorate. The frontrunner is Amlo — Andrés Manuel López Obrador, twice narrowly defeated before, a former mayor of Mexico City and the champion of the left. He is charismatic and messianic, and a victory for him would alarm the markets. World markets are producing lots of excitement but few bargains at present He is up against the unpopular incumbent and formerly hegemonic PRI party, which has an experienced technocrat in the race, José Antonio Meade, while in a weird development forced by the electoral system, the traditional parties of right and left have jointly nominated the 38-year-old Ricardo Anaya Cortés. All three candidates are capable of winning a third of the vote, and therefore all three might win. Mexico has been a model of fiscal and monetary probity since its last major financial crisis in 1994, so an Amlo victory could scare the markets. However, he does have a track record in government, having been the mayor of Mexico City for six years, and showed himself to be competent and pragmatic in the job; and the situation he now faces looks very similar to 2006, when he appeared to be a long way ahead and eventually lost narrowly after he made the election about him. He may well not win, but if he does he would not be as frightening as many assume. Meanwhile, Brazil’s election is wide open as its corruption scandal has claimed the scalps of many potential candidates. The frontrunners are Lula himself, providing he can quash a prison conviction for corruption, and Jair Bolsonaro, who has risen to the top of the polls with aggressive hard-right rhetoric. This is not healthy. But again, the chances look decent that Brazil will emerge with a viable president, with some kind of a mandate to act (thanks to the two-round system), which has been almost wholly lacking for the last four years of political turmoil. World markets are producing lots of excitement but few bargains at present. For those with a strong constitution and a preparedness to be opportunistic, a dramatic year in Latin American politics might well offer this year’s closest approach to a bargain.

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REGIONAL PUBLIC NOTICES

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REQUEST FOR PROPOSALS

Buyer for a period of twelve (12) consecutive

TENDERS

months, commencing April 2018 to March 2019.

to develop an overall country brand strategy for Jamaica, inclusive of a national identity which will guide the rollout and promotional activities of key stakeholders. Eligibility: Consultants will be selected in accordance with the GOJ Handbook of Procurement Guidelines (2014).

CONSULTANT TO DEVELOP COUNTRY BRAND STRATEGY FOR JAMAICA

Documents: Interested persons must indicate their interest via email to obtain tender documents.

Procuring Entity: Jamaica Promotions Corporation (JAMPRO)

Tenders for the supply of wheat flour to the Government of Saint Lucia

All quotations (C.I.F) and credit facilities must be forwarded to the Secretary, Central Tenders Board, Ministry of Finance to reach no later than 4:00 pm on Wednesday,

The Government of Saint Lucia through the

February 13, 2018.

Department of Commerce, International Trade, Investment, Enterprise Development and Consumer Affairs is inviting tenders for the supply of Wheat Flour for the period

All quotations are binding for the period covered by the Tender Notice. Envelopes are to be sealed and clearly marked “Confidential

April 2018 to March 2019.

- Tenders for Wheat Flour” and to be sent to:

The required specifications are shown hereunder:

Background: JAMPRO is seeking to procure the services of a consultant, (individuals or firm) to develop the national country brand strategy which will facilitate the development of promotional material and international rollout of the brand and launch of the country brand and marketing campaign.

Contact: Keneshia Nooks Jamaica Promotions Corporation (JAMPRO) 18 Trafalgar Road Kingston 10

Characteristics Requirements

Assignment Objective: The ultimate objective of this exercise is

Closing Date: Thursday, February 15, 2018 4:00 p.m. EST

The Secretary

•

Moisture content: not more that 15%

•

Ash content: not more that 1.2% before

Central Tenders Board

adding inorganic matter

Ministry of Finance

Email: procurement@jamprocorp.com

•

Protein content: 12.0 – 13.5%

2nd Floor

Deadline for clarification of tender documents: Monday, February 12, 2018

Quantity:

Pointe Seraphine

Two hundred thousand (200,000) bags of

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Faxed Tenders will not be considered.

Financial Administrative Complex

FINANCIALLY SPEAKING Financial Literacy 101 presented by Bank of Saint Lucia

SMES & CONVENIENCE BANKING SERVICES Over 80% of Saint Lucian businesses are classified as SMEs, a statistical testament to the critical role that these businesses play in the economy. SMEs are a major source of employment, vital to the alleviation of poverty as well as the social and economic stability of our island. They span a diverse range of sectors such as hospitality, cosmetology, construction, transportation, manufacturing and agriculture, to name a few. Entrepreneurs will testify that SME businesses have their own unique needs that require specifically tailored solutions. A number of banks and financial institutions provide exclusive SME banking services which typically include: Chequing, Current and Savings Accounts Credit Cards and Overdraft Facilities Letters of Credit, Lines of Credit and Term Loans Cash Management Services Local and Overseas Remittances

Apart from these offerings, there is another aspect of services which can add significant value to the SME operators – Convenience Banking Services. The truth is that the very future of banking lies with digital services, which reduces the need to visit a branch or eliminates the need altogether. Convenience Banking Services can support improvements in SME business operating efficiency and save valuable time. SMEs can avail themselves of these services currently used by larger corporations, some of which include: Electronic Payroll Services Cash Breakdown Services Merchant Services - Wireless Point of Sale Services Mobile Banking Services Online Cash Management Services Inquire about these services with your preferred financial institution and discuss the many benefits to your SME. The ability to manage your business on the go, simply makes sense. Convenience Banking Services Faster, safer, more convenient

are designed to be functional and fit seamlessly into the daily routine - to save customers time and money. As technology continues to evolve, new products and services will emerge to create even greater added value for SME customers.

Convenience Banking Services can support improvements in SME business operating efficiency and save valuable time.

• Use credit and debit cards where it

previously was impossible Faster, safer, more Use credit and debit cards where cardconvenient transactions with•wireless • Small, and portable it previously waslightweight, impossible card transactions with wireless point of sale systems from Bank • No second phone needed Small, andline portable of Saint Lucia mean •you can lightweight, point of sale systems from Bank • Increased reduce the amount SWIPE • No second phonesecurity line -needed of Saint Lucia mean youand canGo! Convenient of cash you handle wireless point-of-sale •solution Increased security - reduce SWIPE and Go! Convenient from Bank of Saint Lucia. Accept the amountCalloforcash youtohandle wireless point-of-sale solution visit us today find out more

card payments wherever you

from Bank of Saint Lucia. Accept are, whenever you need: card payments wherever you are, whenever you need:

Faster, safer, more convenient

• Use credit and debit cards where it previously was impossible

card transactionsStreet, with wireless PO Box 1862 1 Bridge point of sale systems from Bank of Saint Lucia mean you can Castries, Lucia SWIPE and Go!St. Convenient • Small, lightweight, and portable • No second phone line needed

wireless point-of-sale solution from Bank of Saint Lucia. Accept card payments wherever you are, whenever you need:

• Increased security - reduce the amount of cash you handle

TEL: 1 758 456 6000 FAX: 1 758 456 6720

Ask Ask for it!for it!

about this liberating convenience service from Bank of Saint Lucia!

EMAIL: cardservices@bankofsaintlucia.com WEB: www.bankofsaintlucia.com

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