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SELA presented results of mapping of productive niches in the Eastern Caribbean
The Latin American and Caribbean Economic System (SELA) concluded the presentation of the results of the mapping of productive niches conducted in the six Eastern Caribbean countries that are part of the Intra-ALBA zone: Dominica, Grenada, Antigua and Barbuda, Saint Kitts and Nevis, Saint Vincent and the Grenadines, and Saint Lucia.
Within the framework of the cooperation agreement with the Bolivarian Alliance for the Peoples of Our America (ALBA-TCP), and to continue the mapping carried out during 2024 in the other countries of the alliance, this study was conducted with the aim of identifying potential opportunities for economic development in the area comprising Venezuela, Cuba, Bolivia, Nicaragua, Dominica, Antigua and Barbuda, Saint Vincent and the Grenadines, Saint Kitts and Nevis, Grenada, Saint Lucia, and Honduras. Its purpose is to promote regional integration through the creation of productive chains and the strengthening of trade among the member countries.
The initial results of this mapping were presented to Saint Lucia at a meeting with officials from the Government’s International Trade Division, the Central Statistics Office, the Small Enterprise Development Unit (SEDU) and Export Saint Lucia.
In addition, the results for Antigua and Barbuda were presented at a meeting that brought together officials from the country’s Ministry of Foreign Affairs, the Statistics Division, and the Ministry of Commerce. On 27 February, the results for Saint Kitts and Nevis were presented at a meeting in which Sean Lawrence, Director of Trade at the Ministry of International Trade, Industry, Commerce and Consumer Affairs; and Deidre Daniel France, Senior Trade Policy Officer at the Government of Saint Kitts and Nevis, validated and approved the study presented by the SELA team.
Subsequently, representatives from the Permanent Secretariat of the Ministry of Foreign Affairs, Export Development, and Trade of Grenada participated in the presentation of the Caribbean country’s results. Similarly, joint meetings were also held with government authorities to review the results for Dominica and Saint Vincent and the Grenadines, respectively.
On behalf of SELA, Ricardo Michel, Adviser to the Permanent Secretariat; and Karla Sánchez, Analyst of the Economic Recovery Area, participated in the meetings.
The mapping covered a wide range of productive sectors, including tourism, agriculture, manufacturing, services and renewable energy. Specific niches with high growth and job creation potential were identified, considering the particularities of each Eastern Caribbean country.
The potential of sustainable tourism as an engine of economic development was the key finding, identifying opportunities to diversify the tourism offer, such as promoting community-based tourism, ecotourism, and cultural tourism. It also highlights the importance of strengthening air and sea connectivity to facilitate the flow of tourists and goods in the region.
In the agricultural sector, the mapping highlights the potential for production and strengthening of agricultural value chains, as well as crop diversification to reduce dependence on imports. It also identifies opportunities in the manufacturing sector, especially in the production of consumer goods and agro-industrial products, highlighting the importance of strengthening the productive capacities of small and medium-sized enterprises (SMEs).
As regards renewable energy, the report highlights the region’s potential to generate clean energy from sources such as solar, wind and geothermal power, emphasising the importance of promoting investment in renewable energy projects and encouraging energy efficiency in all sectors.
The identification of productive niches of members is part of SELA’s Work Programme for 2022-2026, which is committed to formulating public policies that promote productive sectors, strengthen business models and develop new markets for SMEs in the region.
SELA published the book “Mapping of Productive Niches in Latin America and the Caribbean: Experiences and lessons learned”, which offers research, analysis and lessons learned to boost trade and integration in the region.
