Caribbean seeks to increase its exportable supply

The Caribbean Export Development Agency (Caribbean Export) is focused on developing the region’s export offer, not only among the various countries that make up the region, but also towards new markets, said the executive director of the agency, Deodat Maharaj.

He affirmed that in order to achieve these objectives, it is focused on three fundamental axes, the first of which is the attraction of investments to the region; the second is the modernization of the productive processes towards the incorporation of new technologies in the local industries and the third is agriculture, where according to the explanations there is a marked lack in the use of new technologies, so it is essential that they reach this sector.

Maharaj explained that this is the most important approach and indicated that they are working with the Dominican Republic’s referent, Pro Dominicana, so that this and other topics of interest can be discussed at the Caribbean Economic Forum to be held in September in the Bahamas.

The executive director of Caribbean Export made his statements during a visit this morning to El Nacional, where he also spoke with journalists from El Día and Hoy.El Caribe Para Aumentar su Oferta

He was accompanied by Leo Naut, the agency’s representative in the country; Romily Thevenin, Communications and Research Officer and Salvador Batista, Communications Advisor.

The conversation highlighted the link that Caribbean Export maintains with the Dominican Republic, where it has had an office for 25 years, almost as long as the agency was founded.

It was reported that Caribbean Export has been implementing and managing development cooperation funds for more than 25 years.

The Agency is in the final year of implementing the 11th European Development Fund (EDF) Regional Private Sector Development Program, whose overall objective is to increase job creation, inclusion, especially for youth, women and indigenous groups, and reduce poverty in the Cariforum States.

It also implements the “Trade and Private Sector” component of the Haiti-Dominican Republic Binational Program financed by the European Union under the 11th EDF.

The overall objective of this program is to “Strengthen economic and trade cooperation between Haiti and the Dominican Republic in a sustainable manner by supporting initiatives that can reduce current imbalances in the long term and reduce poverty levels”.

Investments

It was noted that global foreign direct investment (FDI) flows have recovered to pre-pandemic levels reaching US$1.6 trillion by 2021, and the Caribbean has attracted some US$3.8 billion, an increase of 39%.
Caribbean Export recognizes that investment is critical to accelerating the Caribbean’s economic transformation.

Foreign investment can provide the capital, technology and expertise needed to support the development of infrastructure, industries and human capital in our countries.

Africa

Maharaj explained that one of Caribbean Export’s strategic objectives is to bring goods and services from the region to Africa, which is the largest free trade area in the world with the participation of 54 nations.

To this end, he said that in June of this year a Caribbean business mission is being prepared for the western part of Africa.

The specialist explained that currently in Africa more than 50% of the population is under 25 years old and they are interested in knowing more aspects of the universal culture, particularly of the Caribbean through music and other aspects that can be used to boost trade.

Source: Elcaribe.com.do

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