100 businesses from Venezuela and the Caribbean to participate
The event, organized by CAF in coordination with the Foreign Ministry, the Foreign Trade Institute (ICE), and Caribbean Association of Industry and Commerce will bring together around 100 business leaders in a series of working groups formed by economic sector.
The event will be attended by representatives from the following areas: agro-industry, packaging and packing, chemicals, construction (hardware), automotive parts, electrical appliances, food, alcohol, light manufacturing (plastic products), footwear, textiles, toys and carpets.
The Caribbean was represented by a delegation of 15 exporters and importers from Trinidad and Tobago, Jamaica, Barbados, Guyana, St Lucia, St Vincent, headed by the president of the Caribbean Association of Industry and Commerce (CAIC), Jesus Persaud.
The opening ceremony was held on October 18 in the Venezuela Room of the hotel.
CAF's role
Caribbean exports have been generally linked to the area’s traditional commercial partners in North America and Europe. However, Caribbean companies and investors are now developing closer ties with the Andean region and Latin America in general with evident benefits for all.
One of the obstacles in the region is lack of information on alternative sources of supply of products, and the difficulties in accessing credit.
In this respect, CAF has signed a series of agreements with public and private banks in the Caribbean region which grant lines of credit to Royal Bank of Trinidad and Tobago Ltd, Central Bank of Barbados and Century National Bank Ltd of Jamaica, for a total of US$13 million.
The lines will finance foreign trade operations between the Caribbean countries and any member nation of the Andean Group, along with third countries provided the exported product contains at least 50% of inputs from the Andean countries.
The setting up of these lines of credit has led to various commercial transactions, which are expected to increase significantly by the end of the Business Round.
CAF's more recent content
![CAF, JICA and Sicredi join forces to support women and rural producer CAF, JICA and Sicredi join forces to support women and rural producer](/media/4669796/foto_sicredi_divulgação_310724.jpg)
CAF, JICA and Sicredi join forces to support women and rural producer
The amount represents the largest international facility ever undertaken by Sicredi, with the involvement of four internationally renowned entities: Banco Finantia, BNP Paribas, Eco.business Fund, and Sumitomo Mitsui Banking Corporation (SMBC). The funds raised can also be used in regions with a Human Development Index below the national average.![CAF-FAO: Digitization project for agribusiness with repository launch CAF-FAO: Digitization project for agribusiness with repository launch](/media/4669830/caf-fao.png)
CAF-FAO: Digitization project for agribusiness with repository launch
The Food and Agriculture Organization of the United Nations (FAO), CAF -development bank of Latin America and the Caribbean-, the Ministry of Agriculture, Land and Fisheries and the Tobago House of Assembly celebrated the successful completion of the “Digitization and Innovation for the Competitiveness and Sustainability of the Agribusiness Sector in Trinidad and Tobago” project. The closing ceremony, that took place on the 29th of July, marked a significant milestone in the country's efforts to modernize and enhance the agricultural sector.![CAF recognizes Panama's water potential in the face of climate change CAF recognizes Panama's water potential in the face of climate change](/media/4669780/2_cuencas_hidro_caf_.jpg)