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PROJECT BACKGROUND Market Findings for the French Caribbean Outermost Regions (FCORs) Presented by: Natalie Paul-Harry Senior Business Development Officer.

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Presentation on theme: "PROJECT BACKGROUND Market Findings for the French Caribbean Outermost Regions (FCORs) Presented by: Natalie Paul-Harry Senior Business Development Officer."— Presentation transcript:

1 PROJECT BACKGROUND Market Findings for the French Caribbean Outermost Regions (FCORs) Presented by: Natalie Paul-Harry Senior Business Development Officer October 25, 2012

2 Project Overview Project Context Market Selection Previous BDC Initiative The Challenge Objectives Methodology & Description Outputs Achievements to Date Project Overview Project Context Market Selection Previous BDC Initiative The Challenge Objectives Methodology & Description Outputs Achievements to Date Presentation Outline 2

3 Development of Sustainable Exports to the European Union (EU) under the Economic Partnership Agreement (EPA). Project Title Caribbean Aid For Trade and Regional Integration Trust Fund (CARTFund) – EU; Approved Budget – CARTFund: US$650,848. Funding A-Z Information Jamaica Ltd Consultant Project Overview 3

4 Expanded Market Access to the EU since 2008 under the CARIFORUM-EC EPA. EU market - the world’s largest importer; potential economic benefits to increase welfare and poverty reduction. Need for exporters to: move beyond the traditional UK market; improve their understanding of wider EU market conditions. Project Context

5 Increasing exporters’ and BDC knowledge of how to navigate these territories with respect to regulations, restrictions, quality, labeling and packaging standards, institutional arrangements, cultural nuances, etc; Objectives Achieved through a combination of initial market research, market visits, matchmaking, and other business promotion activities; The project will also assist BDC in disseminating the lessons learnt under the project and will, through transfer of knowledge from the consultant, build BDC’s capacity to support the private sector beyond the life of the project; BDC aims to invite approximately twenty (20) medium and large-sized companies from within the prioritized sectors to participate in the project. The project will be executed by BDC under the guidance of a senior international marketing consultant. 5

6 Market Selection - FCORs. Population: 1,126,107. Exchange Rate: TT$1 = €8.33. Key Industries: bananas, sugar, rum, construction, agro processing; renewable energy, environmental mgmt. Population: 1,126,107. Exchange Rate: TT$1 = €8.33. Key Industries: bananas, sugar, rum, construction, agro processing; renewable energy, environmental mgmt 6

7 Market Selection The FCORs - geographically proximate to T&T, represent a microcosm of the EU market of which they are a part; Useful testing ground for exporters before developing the capacity to penetrate continental EU; Build on the experience of exporters already in the FCORs, though predominantly energy-based. The FCORs - geographically proximate to T&T, represent a microcosm of the EU market of which they are a part; Useful testing ground for exporters before developing the capacity to penetrate continental EU; Build on the experience of exporters already in the FCORs, though predominantly energy-based.

8 BDCs “Meet the Exporters” initiative 2010 –Guadeloupe identified as a relatively untapped market. BDC exploratory mission -April 2010 - with 10 exporters who expressed interest in the market. Sectors: Food & Beverage, Construction, Personal Care, Packaging & Frozen Poultry. Confirmed buyer interest; T&T as a less expensive alternative to products from EU. Previous BDC Initiative

9 The Challenge Quality standards are higher - in some cases totally different from what exporters are accustomed in regional markets; Packaging/labelling requirements also different; Knowledge lacking of the distribution channels and their operations is deficient; Domestic taxes apply. Quality standards are higher - in some cases totally different from what exporters are accustomed in regional markets; Packaging/labelling requirements also different; Knowledge lacking of the distribution channels and their operations is deficient; Domestic taxes apply.

10 Step 1 Step 2Step 3Step 4Step 5Step 6 Market Research Project Team (Consultant & 3 BDC staff) will conduct a fact finding mission to the 3 FCORs. The findings will be shared with all companies. Methodology & Description Exploratory Mission Reflection & Action Plan Market Pene- tration Mission Project Review Mentorship Programme Project Team & 20 companies will undertake a mission to each market; participate in match- making sessions with potential partners & agencies. Project Team assist companies in reviewing & imple- menting lessons learnt and in developing & imple- menting Export Plans to meet market requirement Project team and participating companies will undertake a second mission to firm up contacts/ contracts and manage initial exports. Seminars to allow participating companies to share the lessons learnt. 10 participants also invited to mentor 10 companies interested in those markets. Determine results achieved & lessons learnt applicable to future projects which can be applied to the dev- elopment & implement- ation of subsequent projects.

11 Improved understanding of the requirements for penetrating the FCORs’ markets; Improved business capacity to access the French Antilles markets; Improved penetration of FCORs’ markets as a first step to penetrating the wider EU market; and Disseminated knowledge and expertise through BDC mentorship programme and information sharing. Outputs 11

12 Achievements to Date Seminar/Workshops:  Overview of the EPA – Feb 7-8, 2012  Market Information & Intelligence – Feb 9, 2012  Export Planning – Mar 22-23, 2012 Market Research:  Fact Finding Mission to the FCORs – Aug 27–Sep 5, 2012 12

13 End of Presentation


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