Twelve private sector entities from Cariforum countries that participated in the Caribbean Export Agency’s ‘Break Point’ Competition will have the opportunity to travel to London this summer to promote the businesses the Olympics.
However, no local company will benefit from what is being regarded as a once in a lifetime marketing opportunity for regional businesses since, according to information from Caribbean Export, there were no responses from Guyana to the Break Point expressions of interest communication that was sent to all Cariforum countries by the Caribbean Export Development Agency Secretariat.
Stabroek Business understands that information regarding the Break Point competition was circulated through the regular channels and was available to private sector bodies as well as local business organisations that have either received or applied for grants from Caribbean Export.
The omission of Guyana’s private sector from the opportunities that will be afforded the winners of the Break Point competition comes against the backdrop of frequently expressed concerns, particularly by the local manufacturing sector, regarding a lack of access to extra-regional markets.
Break Point is a Caribbean Export initiative which the agency says is designed to encourage the private sector in the region to take advantage of the Cariforum-EU Economic Partnership Agreement (EPA). The agency says it views the EPA “as a critical catalyst to achieving long-term sustainable growth in the Caribbean region that can break the cycle of debt and economic malaise.” It says that the regional business competition “aims to fundamentally change the way that Caribbean businesses and entrepreneurs engage the UK and European market.” Break Point is jointly funded by Caribbean Export and the Department of Inter-national Development (DFID).
Stabroek Business raised the issue of the failure of local private sector entities with Chairman of the Trade and Investment Committee of the Guyana Manufacturers and Services Association (GMSA), Clem Duncan, who suggested that the lack of interest on the part of local private sector firms in the Break Point competition might have had to do with previous instances in which the agency appeared to have been indifferent to requests from Guyana. “I think there might have been the perception that requests for support from Guyana might have been overlooked in the past,” Duncan said.
Duncan told Stabroek Business that customarily, the Ministry of Tourism, Industry and Commerce serves as a conduit for communication between Guyana and Caribbean Export and that there had been concerns regarding failures in the communication process. He said that following a visit to Guyana by a Caribbean Export official two weeks ago it was expected that those difficulties would be sorted out.
Meanwhile, according to Duncan, the recent engagement with the Caribbean Export representative had resulted in proposals being submitted to the agency aimed at beefing up support for the local private sector. Additionally, Duncan said, agreement had been reached with the agency to facilitate visits to London during the Olympics for local businesses to market their goods there. He said too that the local honey industry will receive technical assistance to undertake a marketing study aimed at determining strategies for accessing the European market.
Initially, 30 firms from the Bahamas, Barbados, Belize, Dominica, Grenada, Jamaica, St Kitts & Nevis, St Lucia, the Dominican Republic and Trinidad and Tobago that entered the Break Point competition had been shortlisted by Caribbean Export. The firms selected specialize in agro processing, light manufacture, fashion and garments. By virtue of being shortlisted the 30 firms benefited from a one-day coaching programme at the University of the West Indies’ Cave Hill School of Business (CHSB) aimed at strengthening presentation skills and securing tips on making business pitches.
Break Point is supported by the European Union’s 10th European Development Fund (EDF) Regional Private Sector Development Programme (RPSDP).
