News

Barbados Manufacturer's Exhibition 2014

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The Barbados Manufacturers’ Association (BMA) will once again be hosting the Barbados Manufacturers’ Exhibition (BMEX) from June 6th through 9th, 2014 at the Lloyd Erskine Sandiford Centre in Barbados. Themed ‘A Celebration of Milestones’, this exhibition is designed to foster partnerships between manufacturers, service providers and distributors as it seeks to promote locally manufactured products and services, both intra- and extra-regionally by inviting various regional and international buyers/distributors.

This year’s pavilions include the Furniture and Design Pavilion which will showcase an array of furniture, soft furnishings, jewelry, cosmetics and much more.  The Food Pavilion will of course have a range of items for sampling and for sale with a number of new products on display. New this year is a Cooking Feature where members of the Culinary Alliance will demonstrate unique ways to prepare indigenous produce.  The Construction Pavilion will feature the latest in building materials and the Spa Products Pavilion will showcase the finest in spa and beauty products. A number of key businesses within the services industry will also be on hand to provide patrons with a variety of offerings.

One of the highlights of BMEX annually is the nightly entertainment and fashion. This a not-to-be-missed feature and the 2014 line-up is as exciting as ever. The fashion features well-known designer Pat Brathwaite who is celebrating 30 years in the industry; Wayne Smith another well-known favourite; young and upcoming designers like Orlando Williams of LindaBelle Designs and many more…. The entertainment lineup will be an eclectic mix with the Best of NIFCA on Saturday June 7th; Sunday June 8th features Muse – Let’s be Bad! an evening of blues, jazz and hip-hop; and the finalists of Barbados’ Next Soca Star on the evening of Monday June 9th.

The Kids Junction will  offer a safe and fun environment for children between the ages of three and twelve years. So if you would like to visit… bring the children; let us keep them busy with a filled programme of arts and craft, movies, hula hoop competitions, video games and so much more; all geared for a fun time and all under the watchful eye of the Kids Junction team while you enjoy the show.

BMEX 2014 Lloyd Erskine Sandiford Conference Centre, Barbados

June 6-9, 2014

Caricom rates are available at Divi South Winds and Infiniti hotels.

President Ramesh Dookhoo's presentation to COTED

The CAIC represents the interests of the Caribbean Private Sector at a variety of regional and international meetings on economic, social and environmental policy. The changing global economy no longer succumbs to national policy. The Caribbean Private Sector, more than ever, must wrestle with many challenges at a regional level and this is achieved only through advocacy and interaction with major international and regional economic and governmental agencies.

It is at these meetings that the CAIC is able to articulate and seek support for its members' views on a variety of issues. These include private sector positions for trade arrangements (including the CSME and EPA), development of a Regional Capital Market, establishment of regional regulatory bodies, air and sea transportation, regional development programmes requiring external funding, the latest legislation on Occupation Health Safety and the Environment and many others.

These initiatives all emphasise the need for one body which can ensure that the needs of the Caribbean Private Sector are effectively represented. With globalisation and increased competition, the Caribbean Private Sector must work together, learn from the expertise of one another and network amongst ourselves to maximise our ability to compete powerfully. It is the only path to survival.

Membership We currently have members in 20 Caribbean countries inclusive of: Antigua and Barbuda Bahamas Barbados Belize British Virgin Islands Cuba Dominica Dominican Republic Grenada Guadeloupe Guyana Haiti Jamaica Montserrat Netherlands Antilles St Kitts & Nevis St Lucia St Maarten St Vincent and the Grenadines Suriname Trinidad and Tobago

Our members include:  National private sector organisations across the region  Transnational companies with offices across the Caribbean  Local companies with operations in one country only  Various education and sectoral business groups

Our interaction with other private sector representatives at the national level We do not seek to replicate private sector representation at a national level which is undertaken by the respective chambers and associations (except as a supporting voice where appropriate), but to impact upon the development, growth and competitive positioning of the Caribbean business environment as international and regional policy developments are being developed for implementation.

What makes the CAIC different from any other representative body Experience has shown that governments require the expertise and support of the private sector as a critical input to national and regional transformation. Whilst there are locally based associations in most countries to represent the private sector nationally, the CAIC is the only accredited private sector umbrella association operating at a regional level. As a result, the CAIC has access to various government organs and international agencies, which the local associations do not. The CAIC is strategically placed to influence regional government policies in creating the type of business climate that seeks to foster investment. The CAIC is the means by which Caribbean businesses can ensure that there is a representative which can bring a private sector perspective and ensure that practical business realities are taken into consideration by:  the bodies that inform policy makers;  by policy makers themselves; and  by the external agencies that seek to provide assistance to the region.  Advocacy

What else do we offer 1. We can provide links with all the Caribbean Chambers of Commerce, Manufacturers Association, and National Associations, which have the information and contact you need to facilitate business in their markets.

2. We can network with key business personalities in the Caribbean Private Sector by providing information on the key players in an industry, arranging meetings and facilitating contact, if not through your attendance at meetings then by direct introduction. This is facilitated by the fact that we have on our regional Board of Directors, respected business leaders and industry gurus in each of our member states.

3. We can provide information on the latest developments in policies and policy initiatives before they are implemented as they may affect businesses operating within the region.

4. We can ensure that your view is expressed at a variety of decision making bodies including:  The Council for Trade and Economic Development (COTED)  CARICOM Head of Government Conference  Various working groups of CARICOM  Americas Business Forum  Agencies of the United Nations  Caribbean Central America Action (CCAA) formerly CLAA  Agencies of the European Union  Free Trade Association of the America (FTAA)

The Caribbean is poised for growth. Without an organisation such as the CAIC, Caribbean businesses can depend only on the representation that is available at a national level, while much is being determined at regional and international levels. Beyond our individual shores, the CAIC has a seat at the table where major policy initiatives are formulated and where our national private sector organisations are not directly represented.

We wish to record our collective gratitude to the Secretary General for his renewed energy and purposefulness to engage us at this time and wish to bring to the fore matters that are affecting us Regionally.

Non Tariff Barriers: Caribbean manufacturers still suffer from various incountry SPS standards that are unrecognizable and those that exist for the purpose of blocking trade to ward off competition from different jurisdictions. The Private Sector does not feel this single space at the moment.

The CAIC Agenda is to push Business to Business ACTIVITY THAT is sustainable and predictive whilst playing by the rules of fair competition in each member states.

The CAIC IS MORPHING INTO a new Private Sector BODY that is better organized, nimble on its feet and ready to do business anywhere in the World and where the same rules apply from cottage industries to Conglomerates. This is the only way to ensure that small Companies morph into medium and larger Companies.

WE Support the engagements of many sectors of the Caribbean Economy and we believe that this is a good start,we need to flatten the engagements with the Private Sector as we are doing today,our engagements can then have more meaning and no one will be left out.  While it is easier for the Secretariat to deal with a few organisations there is more purpose in dealing with many and even national organisations on specific issues.

The recognition that the information technology and knowledge economies are critical to the overall advancement of the region and therefore will actively encourage and lobby for the continued growth and development of these economic sectors. Critical support of micro, small and medium enterprises (MSME) to ensure that economic space is always available for their growth, development and eventual evolution to becoming larger business or even conglomerates.

Support of the expansion of the capital markets so to develop a Caribbean investor class and to provide alternative sources for funding for start ups and existing businesses. The implementation of policy and supporting legislation for the expansion of capital markets as part of building a Caribbean investor class and also source of funds for start ups and existing businesses.

We would like to set up a private sector desk in the Secretariat that we would have access to at all times. The reaction time of the Secretariat IS CRUCIAL TO Private Sector success and Growth. We call for the previously successful engagements with the Ministers of Finance and Trade with the Private Sector to be urgently re-established.

We need to address the realities of New Economic successes in the Region and clearly establish an inventory of agreements and therefore opportunities that exist at the moment for the Private Sector to access whilst promoting the old adage that we must exploit the Comparative advantage that exist in our collective territories we have to push the Private Sector towards a Caribbean Economic Plan. How do we use the Natural endowments of various Nations to compliment the other?

How do we incentivise the Private Sector at a Regional level for growth. We should have a few Business leaders on the newly formed Commission on the Economy. An Economic Plan is a plan for the Private Sector.

We are concerned about trading with the EU territories especially the seeming blockages that are displayed by some territories. We are also concerned that our negotiators are thirsty for some form of agreement in the Canada/CARICOM negotiations and would hate to think that the agricultural or manufacturing sectors are sacrificed on the altar of expediency.

We would like to suggest that a joint meeting be held between the Caricom Secretariat, the CAIC and the Caribbean Shipping Association to address shipping policies (e.g. Peak Season Surcharges, Demurrage Deposits etc.) that continue to daily impact the Regional Private Sector and by extension Caricom consumers. The challenges exist around excessive Surcharges e.g. the Peak Season Surcharge comes into effect every single year before Christmas and other busy seasons. The Caribbean Shipowners Association operates under a wartime Act enacted by the USA many years ago; in the context of today's competitive yet collaborative environment we would like to discuss means by which we can engender mutually beneficial partnerships. This needs to be lobbied at the highest levels.

Another challenge is demurrage on containers. While we accept that demurrage is necessary, there are conditions of operation across the region which need to be taken into account. In many Ports cruise ships take precedence over cargo. Most of our Ports do not operate on a 24 hour basis therefore there are often long delays in clearing containers. The larger importers are allowed 20+ days to return their containers while smaller companies are allowed as little as 7 days. As an example; clearing containers in Barbados take up to 11 days for manufacturers. Hence a container is already incurring demurrage before it leaves the Port. Some members of the CSA have now started to charge demurrage deposits but we have been advised that this is illegal.

Canada/CARICOM There are mixed views around the Caribbean about the Talks.

10-5-2014

Call for Papers for Mona School of Business & Management Inaugural Conference

INTRODUCTION Mona School of Business & Management (MSBM), UWI Mona, recognizes that over the years, business scholarship has been characterized by an inadequate focus on the challenges of small businesses, particularly when these are located in small vulnerable economies. This inaugural MSBM Conference will respond to this gap by providing a forum for the sharing of ideas about the role of business and management practice, scholarship and education in the advancement of small vulnerable economies such as those in the Caribbean Region. The Conference aims to attract national and regional scholars who are writing and researching on a range of business related issues as well as the practitioners who are grappling with these issues on a daily basis. International scholars and practitioners are expected to bring a global perspective, which can be benchmarked against scholarship and practice in the Caribbean. SUB-THEMES The theme for the inaugural conference: Breaking the Barriers - Enterprise, competitiveness, growth and development signals the desire to focus on how research and scholarship can contribute to addressing the specific challenges of enterprise competitiveness, growth and development. Proposals will be considered for panels or papers that focus on the overall theme of the conference or any of the following sub-themes: •Business Policy & Strategy in Caribbean Enterprises •Entrepreneurship, Competitiveness and Economic Development •Business in a spatial context: Regionalism, Internationalism and the Diaspora •Human Resources Management Practices •Organizational Communication •Hard and soft Infrastructure for Business Development •Leadership & Management Education •Critical Management Studies and Management History   SUBMISSIONS, AWARDS & PUBLICATION OPPORTUNITIES All abstracts will be published in the Conference Booklet (ISBNs: 978-976-41-0258-8 and 978-976-41-0259-5). All papers will be considered for publication in an edited volume or a special journal issue. Awards will also be given, including that for Best Paper. Submissions are also being invited for a Doctoral Consortium, which will offer students a collegial atmosphere to share their work and receive constructive feedback. Confirmed Speaker: World Renowned expert on SMEs, Prof. David Storey - Department of Business Management and Economics, University of Sussex IMPORTANT DATES Abstracts: Extended to May 30, 2014 Notification of Acceptance: June 30, 2014 Full Papers Due: August 16, 2014 Final Paper Submission: November 7, 2014 ABSTRACTS Maximum 250 words, include separate cover page with title, name, institutional affiliation & contact (Email, Tel & Fax) HOST INSTITUTION Mona School of Business and Management, The University of the West Indies, Mona, Jamaica CONTACTS Conference Chairs: Dr Indianna Minto-Coy & Dr. Noel Cowell. Individual abstracts, papers and panel proposals must be submitted via: This email address is being protected from spambots. You need JavaScript enabled to view it. Conference Website: http://businessconf2015.msbm-uwi.org/

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

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