One of the region’s leading trade and investment promotion organisations, the Caribbean Export Development Agency, is reporting significant progress in helping regional firms to build export capacity.
Executive Director Deodat Maharaj reported that last year, the agency continued its laser focus on its 2021-2024 strategic plan to develop sectors that can drive economic and social transformation in the region.
These areas, he said, included investment promotion, especially in the green economy; leveraging of technology in agriculture to help boost food security; and innovation and digitalisation within the services sector.
“We think the sectors that we are focused on can really help advance a transformational agenda for the region and we intend to stay the course,” said Maharaj.
He was addressing the launch ceremony of Caribbean Export’s 2022 Annual Results Report, Transforming to a Smarter, Greener, Resilient Caribbean, at the Hilton Barbados Resort on Thursday.
In addition to a major focus on investment promotion, Caribbean Export said it was able to ramp up the implementation of its strategic plan with the rollout of 47 interventions which impacted more than 1 000 business professionals from the CARIFORUM region.
It reported that last year, the agency achieved an 89 per cent implementation rate against the total budget for the 11th EDF regional private sector development programme. Caribbean Export disbursed over US$2.1 million in grant funding last year to 138 small businesses.
It reported that 52 per cent of beneficiaries represented females, as the organisation continued to focus on ensuring gender inclusion.
Seven new programmes were introduced as Caribbean Export fostered new partnerships with financial and other institutions to help propel the agency’s plans to help small businesses grow and become export ready and more sustainable.
Maharaj said Caribbean Export was committed to “doing more to deliver results where it matters – on the ground and in the lives of people”.
(MM)
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