The X Business Forum of the Greater Caribbean

Components of the X Business

Opening ceremony

The opening ceremony will take place on 21st October 2009: On this occasion, the political authorities and business community representatives are invited to show their interest in building partnerships among businesses in the region, to the benefit of growth in each country.

Conferences

Four plenary sessions will be held around four main themes :

• Theme 1: competitiveness and development of business partnerships : Competitiveness in the Greater Caribbean countries is affected by the high cost of conducting business, the rigidities of the labour market, the increasing cost of exchanges, especially transport and insurance, which account for almost 10% of the production cost in the Caribbean. In view of the impact of the 2008 crises (financial crisis, increasing food prices and oil products, severe damage following the occurrence of natural disasters, etc.), the governments of the region had to review their public policies towards developing exchanges and private investments, giving more importance to the elements impacting on competitiveness. On the occasion of the Business Forum, the participating companies will be able to establish new business relationships to add value to their production. In so doing, they will be able to better position themselves in the region.
• Theme 2: the instruments for trade integration, element for the strengthening of business partnerships : trade relations are becoming a fundamental component of the regional integration process. The various countries in the region, as they want to stay competitive, are always looking for efficient mechanisms and instruments to promote, strengthen and consolidate the business partnerships to give their companies new business opportunities and open up to new markets. It is therefore particularly relevant to identify the dispositions of the trade agreements and regional treaties which will favour their expansion. This forum will represent an opportunity to highlight the positive aspects of these agreements to develop new lines of production of goods and services, and adopt common strategies.
• Theme 3: the economic and financial crisis and the measures adopted to guarantee the performances of the companies in the Greater Caribbean : adapt the financial systems to the realities of the companies in the Greater Caribbean is one of the most sensitive issues to be dealt with when building business partnerships. Having to do so, the monetary authorities of the region had to adopt measures to mitigate the impacts of the financial crisis which have been felt since 2008. Studies and research have shown that the economies in the region will work differently after this crisis and classify countries in three categories: those still going through difficult times, in spite of their efforts, those already on the right path, and those that have adopted measures to bring back equilibrium. The participating companies might benefit from the experiences of these countries and the necessary know-how for them to improve their strategies of financing and find out about new instruments better suited to their needs.
• Theme 4: the logistic chain in business development : « Connecting to Compete : Trade Logistics in the Global Economy », a World Bank study, has concluded that despite the efforts undertaken for the logistic chain to be competitive, the Caribbean region is the one that has recorded the smallest rates on the Logistics Performance Index (Logistics performance Index, LPI). The main reasons for this are the inefficient custom procedures, over regulated economies, corruption and lack of transparency, affecting the competitiveness of the countries in the region when compared to similar economies on the world market. These elements are certainly not encouraging investments and prevent the companies from staying competitive on the world market. It is important to discuss these questions, all the more so since the study has recommended to undertake a research to highlight the areas specific to each country of the Greater Caribbean. The recommendations from the Forum and their integration to public policies will contribute to diminishing the impact of these factors on the management of business in the region.

Round tables

Four round tables in the morning, 23rd October 2009. The topics for discussion are agriculture, tourism, cultural goods industry, textiles industry, and telecommunications. This will be an opportunity to share experiences, while Haiti will be able to showcase its success stories in these areas, its advantages and needs.

Business Meetings : « one-on-one »

This forum will be more than anything an occasion to facilitate business meetings optimise the possibilities for the establishment of business partnerships while boosting business negotiations for joint-venture and new investments.

Exhibition

Regional companies will be able to display their products and services. The fair and exhibition will be inaugurated on 22 October 2009 and will close on 24 October. It will be open to the Haitian public the last day.

Cultural events

Many activities will be carried under this theme such as cultural shows, visits of tourism sites, breakfast and business luncheons by special invitation and sponsored by institutions and companies. IDB Vice-President for the Private Sector, Mr Steve Puig, will be the keynote speaker of the 22 October luncheon. He will talk about the financial challenges for the countries of the region as well as the instruments put in place by IDB as direct support to the private sector.