News

Market Dynamics Caribbean Issue 9 Highlights

Courtesy of GlobalNewsMatters, here are the Market Dynamics Caribbean Issue 9 highlights summarized below: -Anguilla posts strong Q1 tourism arrivals, up nearly +12% YoY. -IMF cites fiscal outlook and high NPLs as primary risks that A&B must work to mitigate. -Aruba’s Tiara Air facing tremendous financial pressure due to non-payment from Venezuela’s CADIVI. -Preliminary statistics point to a mere +0.7% growth in the Bahamas economy last year. -Barbados noted for strong bond performance in April. -Belize posted a (22)% drop in exports in Q1, with weak crude, sugar and orange concentrate volumes. -The number of new insurers in Bermuda jumped +70% from 2012 to 2013. -Cayman Islands’ visible trade deficit widened in 2013, reaching CI $749.1MM on rising petroleum imports. -Moody’s downgraded Cuba’s rating to ‘Caa2’ from ‘Caa1’. -Curaçao reports Q1 average hotel occupancy of 73%. -Dominican Republic's Central Government notes a drop in fiscal deficit to GDP last year from 6.6% to 2.8% of GDP. -Grenada's Government signed a treaty with Trinidad & Tobago to share resources found at Block 21. -Guadeloupe foresees cruise arrival growth from 30% to 40% this season. -Haiti’s minimum wage was adjusted upward, effective May 1. -Bank of Jamaica reports a drop in the NPL : total loan ratio to 5.4% in 2013. -Montserrats candidates have been named for the upcoming General Elections in September 2014. -Moody’s Capital Market Research Inc. alerts investors that Puerto Rico’s credit risk deepens. -St Lucia has seen a +4% boost in tourism arrivals. -Saint Vincent & the Grenadines enjoys a ratio of mobile subscribers of 128%. -Ratings agency S&P has revised its outlook downward from positive to stable for Suriname’s sovereign credit rating. -Moody’s reaffirmed Trinidad & Tobago’s ‘Baa1’ sovereign credit rating and predicts +2.9% economic growth for 2014. -Turks and Caicos’ Government launched the Consultation on Beneficial Ownership Information. Subscribe to continue reading or to receive this information please contact This email address is being protected from spambots. You need JavaScript enabled to view it.

Caribbean private sector complains about EU trade barriers under EPA

Prospective exporters trying to take advantage of European Union (EU) markets through the Economic Partnership Agreement (EPA) with the Caribbean are facing prolonged bureaucratic stumbling blocks, officials of the Caribbean Association of Industry and Commerce (CAIC) said Wednesday. CAIC officials said they made their concerns known to Ambassador Irwin La Rocque- the Secretary General of the 15-nation Caribbean Forum (Cariforum) which is made up of Caricom’s 14 independent nations and the Dominican Republic. CAIC Vice President, Rollin Bertrand complained that among the major non-tariff barriers is the EU’s standards regime that could see applications take as much as three years to process. Bertrand said the umbrella business organisation was not opposed to standards but was concerned that Caribbean companies which have passed local, regional and international standards were not benefitting from reciprocal treatment in processing their applications in a reasonable time-frame. The business body, which is working to play a major role in Caricom’s decision-making system, noted that assurances of fast processing were merely words. “If you go through the EPA Agreement you will see the language that suggests very strongly that the European Union countries would not put any undue hurdles in the way of trade coming from Caricom. That’s what exists on paper. The reality is not that,” Bertrand told a news conference at the headquarters of the Private Sector Commission (PSC) a few hours after meeting with La Rocque. Through the EPA, independent Caribbean countries can trade in goods and services with Europe’s overseas territories in the region such as French Guiana, Guadeloupe, Martinique, French Saint Martin and the Dutch Antilles. CAIC President, Guyanese Ramesh Dookhoo noted that the “harsh reality” was that countries could use non-tariff barriers that are not written in agreements.  Dookhoo said his organisation would shortly document its concerns and dispatch them to the Cariforum Secretary General. Representing 21 countries across the region, CAIC is expected to participate in a special session of Caricom’s Council for Trade and Economic Development (COTED) to be held next month in Guyana. CAIC hopes to remove a “significant shortcoming” of the private sector not being involved in decision-making and policy formulation.   Courtesy Carib News Desk

Passing of former CAIC President Mr. Audley Walker

It is with great regret that we announce the passing of Former CAIC President, Treasurer and long standing member Mr. Audley Walker. Mr. Walker passed away this morning, Tuesday, April 8th 2014. He was also the CEO of West Indian Tobacco Company (WITCO). The CAIC Executive and Secretariat express condolences to the family and friends of Mr. Walker on his passing.

TTMA's Trade and Investment Convention (TIC) 2014

In its 15th year the Trinidad and Tobago Manufacturer's Association will host their Trade and Investment Convention (TIC) at the Centre of Excellence, Macoya from July 2-5 2014.

This year, TTMA has reduced the cost of participating by 60%.

3x4 booth - TT$12,000.00

3x3 booth - TT$10,000.00

3x2 booth - TT$8,000.00

Over 300 international buyers have been invited to the convention, targeting specific buyers, especially in the area of agro processing, food and beverage, construction, energy related and Printing and Packaging.

If you are interested in registering as a buyer or an exhibitor or for more information on the convention click here

Masters in International Trade Policy at UWI Cavehill

The Cavehill School of Business at the University of the West Indies Cavehill Campus through the Shridath Ramphal Centre for International Trade Law, Policy and Services offers the MSc. in International Trade Policy.

The MITP will expose you to the best experts in the field of Trade policy and related areas. The programme has a faculty of local, regional and international experts providing the latest in an ever evolving and dynamic trade environment.

The MITP will expose you to a dynamic academic component taught in a modular approach involving simulations, group study, individual assignments and in many cases examinations. The other component of the programme is practical comprising a three-month internship at a national, regional or international organization depending on your choice of Research. This component also involves a study tour to Geneva where you will be exposed to a plethora of trade related organizations such as the World Trade Organization (WTO), the International Trade Centre (ITC), United Nations Conference on Trade and Development (UNCTAD), International Centre for Trade and Sustainable Development (ICTSD), South Centre to name a few. During your sojourn with us you will be guided in the process of developing and writing a major Research paper which will position you as an emerging expert in your chosen area of research.

For more information and documentation on the Masters in International Trade Policy click here

Market Dynamics Caribbean Issue 7 Highlights

-Double digit growth in tourism continues in Anguilla in February -Bahamas hotel industry generates $700MM in tax revenues for the State -The latest round of 200 public sector layoffs to hit Barbados -SATIIM court victory over US Capital Energy could frustrate efforts to shore up Belize’s trade gap -S&P affirms AA-/A-1+ sovereign ratings for Bermuda -Cayman Islands aims for 1.65 million cruise passengers this year -Cuba’s Parliament approves Foreign Investment Law -The proportion of companies in Curacao investing grew to 43% in December -S&P affirms Curacao’s A-/A-2 rating -DR aims for 4.5% GDP growth in 2014, after reaching 5.0% in Jan-Feb -Grenada destines 51% of recurring spending to Personnel and 20% to Interest Payments -French Caribbean sees replacement of Overseas Minister -Guyana’s largest-ever budget reaches $220B -Haiti’s Cabinet is re-shuffled with 10 new appointments -Jamaica prepares for April 17 budget debate, with J $539B budget estimate -Montserrat’s EC $108MM budget for recurring expense covered by only EC $44MM in revenues -PR’s Purchasing Managers Index returns to positive territory in February -Sint Maarten’s independent Senator Laville met with Venezuelan Ambassador to Dominica to explore entering Petrocaribe -Suriname’s President puts the brakes on sovereign wealth fund legislation -IDB suggests alternative to La Brea port project in T&T   Courtesy Global News Matters

Highlights of Market Dynamics Caribbean Issue 6

- Anguilla’s 2014 Budget has been presented with EC $183MM in recurrent expense and EC $35.8MM in capital expense. -Aruba’s economy expanded +3.9% in 2013, and is expected to grow +2.7% in 2014. -As Bahamas moves closer to Baha Mar’s opening, gov’t moves to close the airlift gap of 400,000 seats. -Barbados initial budget estimates for FY’14/15 signal a +9% increase in debt servicing. -In Belize, another injunction filed by SATIIM could delay drilling by US Capital Energy. -Bermuda’s Municipalities Amendment Act overturns the $1.7B waterfront development contract. -BVI reports a (25)% drop in business incorporations for Q4’13. -Cayman Islands reports lowest inflation in 5 years at 2.2%. -Cuba’s new Foreign Investment Law will be tabled this week. -DR continues to close gap on electricity needs, in spite of underfunded loss reduction plan. -CFATF warns political stalemate in Guyana over passage of AML/CFT legislation is detrimental to the region. -Haiti reaches agreement for elections to be held in October. -Bank of Jamaica releases Report on Bank Fees & Charges, uncovering market tendencies. -Puerto Rico’s GO Bond launch was highly over-subscribed with heavy secondary market trading. -Enforcement of AML/CFT legislation in Trinidad & Tobago will be key to a favorable 2015 evaluation. -TCI banking sector reports provision for bad debt up to US $5MM in Q4 vs US $1.6MM in Q3. -Changes to the UK Air Passenger Duty are expected to bring favorability to the wider region. Courtesy Global News Matters

First Annual GO Caribbean International Business and Investment Expo

For Immediate Release Contact: Raymond P. Lewis RP Lewis & Associates Sponsorship & Media Director 646.377.8329 This email address is being protected from spambots. You need JavaScript enabled to view it. This email address is being protected from spambots. You need JavaScript enabled to view it.   FIRST ANNUAL GO CARIBBEAN INTERNATIONAL BUSINESS AND INVESTMENT EXPO The Expo promotes innovation and entrepreneurship in the Caribbean Diaspora and region, and facilitates global relationships to accelerate business growth and investment. (February, 2014) - Brooklyn, NY— Saturday, June 7, 2014, Anchor Strategy Group “Anchor”, with support from the Caribbean Tourism Organization (“CTO”), will host the first annual Go Caribbean! International business and investment Expo at the Marriott Hotel in Downtown Brooklyn. The Expo will offer strategic opportunities for entrepreneurs and businesses based in the Caribbean Basin and/or North America to engage with investors, government agencies, financial institutions and Non-Governmental Organizations (NGOs) from both regions. Go Caribbean! will promote innovation and entrepreneurship in the Diaspora and Caribbean region, and facilitate global relationships that can accelerate business growth and investments. Go Caribbean! has signed on a number of key expo partners: Institute of Caribbean Studies (ICS), Caribbean Association of Industry & Commerce (CAIC), Dr. Honorable Una Clarke and Congresswoman Yvette Clarke. The Expo will support businesses in several key, high-growth-potential industries: Food & Beverage, Information Communication Technology, Sport & Creative Services, Tourism, Healthcare, Energy, Agribusiness and Construction & Infrastructure, and will give its sponsors and partners an opportunity to:
  • Showcase their products and services
  • Network with regional and international leaders in business and politics
  • Attend industry-specific forums and workshops
  • Gain knowledge and access to new market oppotunities
Go Caribbean! Is the brainchild of Anchor Strategy Group “Anchor” Managing Director, Kevin Howell. Established in April 2009, Anchor is a New York-based consulting firm limited liability corporation. The company provides integrated management solutions for the private sector and government agencies in the Caribbean Diaspora and Caribbean Basin. It positions its clients to seize opportunities and achieve their strategic and implementation goals. The June Go Caribbean! Expo will showcase businesses from the Caribbean Basin and the Caribbean Diaspora, with a focus on business in the Northeast region of the U.S. More than 3,000 attendees will gain access to new market opportunities at the Expo. The event will also feature multiple investment workshops and industry-specific seminars for business owners looking to increase their knowledge and market share. Many new and innovative products and services will be on display. If you would like to participate, for more information about sponsorship/exhibitor opportunities, please see the respective contact info for Go Caribbean! Thank you…

Request for Supplier

A buyer in Nova Scotia, Canada is looking for a supplier of coconuts from the Caribbean. For more information on the buyers requirements and to indicate your interest please contact This email address is being protected from spambots. You need JavaScript enabled to view it.

Market Dynamics Caribbean highlights

Antigua & Barbuda has been removed from the Financial Action Task Force (FATF) ‘grey list’ for AML/CFT
Barbados Tourism Minister reports favorable trend in arrivals and hotel occupancy
Belize continues to rely on Petrocaribe to boost net foreign assets
Cayman’s Captive Insurers earned US $12.6B in 2013
Dominica’s struggles with Black Sigatoka continue to weigh on economic performance
Dominican Republic government contemplates re-entry into electricity generation business
Guadeloupe, Martinique and Sint Maarten have joined the Association of Caribbean States as Associate Members
Guyana misses another deadline on AML/CFT legislation
Haiti-Panama Free Trade Agreement is priority for Panamanian President Martinelli
Jamaica’s inflation for FY’13/14 is expected at 8.5%-10.5%
Montserrat reports +14.5% jump in stay-over tourists Jan-Nov
Puerto Rico’s financial sector is undaunted by Moody’s downgrade
Nevis’ economy shows signs of improvement
- Moody’s lowers Suriname’s outlook to stable
T&T’s PM travels to China to explore new partnerships in trade, energy
TCI received over 1 million total visitors in 2013

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