An Unexplored Market of 42 million (Guatemala InduEXPO 2011)
“So near, and yet so far” might be an apt description of the trade and commercial relations between the Caribbean and Central America as they exist today. There is a market of some 42 million on the Central American side and 14 million in the CARICOM region, but for decades the drivers of these markets have not seriously attempted to gain access.
In order to foster trade and commerce between both regions, a conscious decision must be made by both public and private sectors to employ strategies to strengthen trading links. There is already a partial framework in place under CARICOM’s initiative, but it still needs to be strengthened though wider participation by the countries of both regions to enable them to take tangible and profitable actions.
With the onset of globalisation, and moreso since the world economic downturn in 2008, it has been made abundantly clear that local producers can no longer rely on local and regional markets. The Chamber, too, has long recognised and touted the urgent need facing this country to seek out, explore and exploit new markets for Trinidad and Tobago’s goods and services in order to enhance our competitive edge. This is also recognised by the Government of Trinidad and Tobago, which is marketing T&T as “a nation full of potential” and “open for business.”
With this in mind, the Chamber in October 2010 hosted the Conference “Connecting the Caribbean and Central America Conference: Exploring and Seizing New Opportunities”. The Conference was fully supported by Government, and attracted several key government and business leaders from Trinidad and Tobago and 14 influential Central American businesspeople. So successful was the Conference, a Mission to one of the participating countries, Guatemala, was proposed for 2011, and will in fact come to fruition over the period June 21 to 24, 2011.
During this period, the Chamber, with the support of the Ministry of Trade and Industry will mount a Trade Mission to Guatemala City, Guatemala, to attend the largest annual Central American trade fair, “Induexpo 2011”. Billed as “a place for opportunities”, participating partners will be exposed to information about new products and services, be able to compare prices, quality and conditions among the several offers by exhibitors, meet and select potential suppliers, and a set up business meetings.
The Mission will also be attended by the Honourable Stephen Cadiz, Minister of Trade and Industry. The Chamber will be hosted by the President of Guatemala and will also meet with significant players in that country’s private sector. Further, both governments are committed to begin discussions on a partial scope agreement. By this high-level participation, the two Governments are signalling their commitment to opening doors for enhanced market access for both countries.
Participating sectors in the exposition will include Food and Beverages, Chemicals, Construction, Footwear, Pharmaceuticals, Plastics, Services, Technology and Metal Mechanics. Businesspeople in the distribution, wholesale, retail, import, brokerage, food and department store sectors are encouraged to attend.
A group package with preferential rates for airfare, hotel, interpreters, exhibition booths and business meetings has been arranged, and businesspeople are invited to contact the Chamber at 637 6966 for additional information on this opportunity.
Let’s meet in Guatemala!
