TEPA Newsletter – November-December 2014
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Saint Lucia Trade Export Promotion Agency (TEPA) CEO Attends Caribbean Exporters Colloquium In Barbados
The Saint Lucia Trade Export Promotion Agency (TEPA) was invited by Caribbean Export Development Agency (CEDA) to attend the second Caribbean Exporter’s Colloquium in Bridgetown, Barbados from November 11 – 12, 2014. The theme of the Colloquium “Building Economic Resilience in the Caribbean” focused on examining among other issues, the state of regional exports, private sector advocacy, innovation and entrepreneurship, branding and intellectual property protection, key issues affecting competitiveness, the role of… Read More…[/column]
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Honourable Minister For Commerce, Business Development, Investment And Consumer Affairs Returns From Participating In The Havana International Trade Show (FIHAV)
Castries, Saint Lucia November 10, 2014 – On invitation from the Government of Cuba the Honorable Minister for Commerce, Business Development, Investment and Consumer Affairs, Emma Hippolyte attended The Feria Internacional de La Habana, 32nd Havana International Fair (FIHAV) held from November 2 to 8, 2014 in Cuba. Ms. Andrena Simon, Promotion & Marketing Officer at Saint Lucia Trade Export Promotion Agency (TEPA) accompanied the Minister on the mission. Read More…[/column]
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TFO Canada And TEPA Hosted Exporting To Canada Seminar
On November 18, 2014 TEPA in association with The Trade Facilitation Office Canada (TFO Canada) hosted “Exporting to Canada” Seminar. The seminar which targeted St. Lucian exporters focussed on the fundamentals of accessing and expanding exports to the Canadian market. Read More…[/column]
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Final PRONET Workshop For 2014
The Saint Lucia Trade Export Promotion Agency (TEPA) in collaboration with Caribbean Export Development Agency (CEDA) hosted the final module of the PRONET Training Programme for 2014, Export Marketing at the Conference Room of the Ministry of Infrastructure, Port Services and Transportation, Union, Castries, during the period November 11th – 13th, 2014. Read More…[/column]
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Slaspa Launches Seaport Trade Facilitation Initiative
The Saint Lucia Air and Seaports Authority (SLASPA) has officially launched its new Seaport Trade Facilitation Initiative, dubbed “Less than Contain Load (LCL).” Read More…[/column]
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Ferrands Dairy Pays Sweet Visit To TEPA Office
On November 26, TEPA received a sweet surprise from Ferrands Dairy. Our staff was delighted to sample their new flavour, Spiced Pumpkin, and a yuletide special, Fruit and Rum ice-cream. Read More…[/column]
Regional/International News
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Regional Governments Encouraged to Establish Registry for Entertainers
Jamaica’s Minister of State in the Ministry of Tourism and Entertainment, Damion Crawford says problems being faced by entertainers in the region can be eliminated with the creation of a registry for entertainment practitioners as well as an event rating system.Read more here: Read More...[/column]
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Welcome progress on Trade Facilitation Agreement
On 27 November the WTO took a series of decisions that will pave the way for implementing the Trade Facilitation Agreement. Once in force, it will help developing countries better integrate into the global economy, intensify regional integration and lift millions out of poverty. Read More…[/column]
Announcement
Look out for the “Saint Lucia Has…” TV series, a collaboration between TEPA and DBS, every Tuesday night during DBS News-world broadcast.
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ASK Anthony
Anthony John, Project Office, Saint Lucia TEPA
- What are some of the challenges in Exporting Services?
Some of the challenges service providers experience in exporting services is as follows:
- Most service providers are very small businesses with limited resources
- Access to finance. Service providers encounter difficulty in accessing financing due to intangibility
- many rush into markets without adequate preparation
- Services providers are selling a “promise“that they will deliver. Services are invisible and intangible (no samples)
- governments often do not focus trade promotion on services
- unlike products in most cases, cannot use agents, distributors
- need to establish profile, credibility
- need to create new networks for word-of-mouth referrals
- How to do I select an Export Market?
When selecting an export market for your product and/or service, the following should be considered:
- Contacts or referrals
- Potential partner
- Easy market access
- Ties to your region/country
- Language and cultural similarities
- Business practices
- Cost of doing business
- Personal interest
- Political stability
- Legal framework
- Market access / bilateral agreements
- Economic trends
- Known demand for your service in the market
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Did You Know…
Did you know there are 4 Modes for exporting services?
Mode 1: Cross Border (i.e. the service itself crosses the border) e.g. Management consulting, ICT, Marketing, Engineering
Mode 2: Consumption abroad (i.e. the consumer travels across the border) e.g. Tourism and travel, Education and Training, legal, Health services
Mode 3: Commercial presence (i.e. establishment of an office or entity abroad) e.g. Insurance, Financial, Construction services
Mode 4: Movement of Natural persons (i.e. the supplier travels across the border) e.g. Arts and craft, recreation and sporting, education and training
Export Tip
Many new exporters jump into potential markets too quickly, unprepared, and fail. It is important to do the necessary preparatory work or you risk losing the investment of your time and resources
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Saint Lucia Export Statistics
Saint Lucia Exports of beverages, spirits and vinegar from 2009-2013
Source: ITC calculations based on UN COMTRADE statistics.