Regional participants in the September 26th – 28th 4th CARIFORUM-EU Business Forum held in Frankfurt, Germany are reportedly rating the event as a considerable success particularly in the light of what, reportedly was the strong Caribbean presence at the event.
Reports reaching Stabroek Business on the forum held under the theme ‘Building Strategic Partnerships in a Dynamic Global Economy’ indicated that a panel led by Caribbean Export’s Competitiveness and Export Manager Damie Sinanan, made public the results of a study commissioned by the Agency which highlighted that rum and sauces have been the region’s two most successful exports since the signing of the CARIFORUM-EU Economic Partnership Agreement (EPA) in 2008.
The report also bared the fact that the Dominican Republic bested Trinidad and Tobago as the largest exporter of products and services to Europe. The DR Is the largest rum exporter in CARIFORUM, with almost seven times more rum exports as Jamaica. Exports of sauces and seasonings to the EU increased by 59% between 2014 and 2018, according to the Report.
The report also indicated that EU imports of rum and related products from CARIFORUM increased by almost 31% (in value) from 2014 to 2018. Further, in 2018 The Dominican Republic exported almost 70 million euros in rum products to the EU, a 32% increase from 2014. Arising out of the findings of the report the Frankfurt gathering reported that European Business Support Organizations are now even more keen for the creation of strategic relations with CARIFORUM in order to enable the furtherance of trade.
The period of the event saw over seventy industry buyers and investors conduct some one hundred and fifty business to business meetings with the sixty-three exhibitors from the Caribbean’s food, cosmetics and cultural industries. The event, Stabroek Business understands, recorded over 600 visitors who came to discover what the Caribbean has to offer.
From all accounts including those of Anthony Bradshaw, the Caribbean Export ‘point’ person in Frankfurt, the Forum’s purpose as a platform with a view to strengthening business networks and promoting closer trade and investment relations between the Caribbean and Europe was manifestly fulfilled.
Singled out as one of the highlights of the event was the designated Consumers’ Day, September 28, which saw visitors enjoy Caribbean products, as well as Caribbean culture. In addition to rum tastings, cooking demonstrations and courses, more than eleven music performances were also put on by renowned artists.
