The U.S. Business Administration "Trade Opportunities in the Caribbean Area" Introduced by: Robert Jones Provincial Advi.


85 views
Uploaded on:
Description
Travel and Tourism Services. With the execution of CAFTA-DR, there are noteworthy ... send out circumstances in different Caribbean markets to American firms. ...
Transcripts
Slide 1

The U.S. Business Service "Trade Opportunities in the Caribbean Region" Presented by: Robert Jones Regional Counselor for Commercial Affairs

Slide 4

The Caribbean area imports $20.3 billion of US items and administrations Dominican Republic US$6.59 billion Barbados US$497 million Jamaica US$2.64 billion The Bahamas US$2.76 billion 26 Markets, 41 million individuals Total imports: $53 billion Regional GDP development: 4.6% US import piece of the overall industry: 38% Trinidad & Tobago US$2.25 billion Source : U.S. Import and Export Merchandise exchange insights. December 2008

Slide 5

Caribbean Region A Sizeable Export Market Caribbean US$23.8 Italy US$15.5 Malaysia US$12.9 Chile US$11.9 India US$17.8 Brazil US$32.3 Australia US$22.2 Source : U.S. Import and Export Merchandise exchange insights. December 2008

Slide 6

Why Export to the Caribbean Region? Nearness to the United States Third largest market in Latin America for U.S. exports  Cooperative exchange relationship Free exchange Regional coordination

Slide 7

Caribbean Tourism Market Source : Caribbean Tourism Organization. Evaluated insights from January to December 2008

Slide 8

Best Prospect Sectors in the Caribbean Region Travel & Tourism Services Building Products Telecommunication Equipment Automotive Parts and Service Equipment Computer & Peripherals Air Conditioning and Refrigeration Equipment Financial Services Hotel & Restaurant Equipment & Supplies Medical Equipment & Supplies Drugs/Pharmaceuticals Renewable Energy Safety and Security Equipment Household Consumer Goods Non-customary Agriculture and Agribusiness Oil and Gas Field Machinery and Services

Slide 9

Dominican Republic HIGHLIGHTS Population: 9.36 million GDP: $36.4 billion GDP growth: 4.8% Per Capita Income $4,147 Bilateral Trade US/DR: $10.57 billion Imports from US: $6.59 billion US Imports Market Share: 48% Ranking for US Exports to WH: 8th biggest Foreign Direct Investment: $435.1 (First quarter 2009) Sources : U.S. Import and Export Merchandise exchange insights/Central Bank of the Dominican Republic. December 2008

Slide 10

Why Export to the Dominican Republic? CAFTA-DR On-going business sector progression 70% of customer merchandise imported into the DR are from the U.S. Duties were evacuated on 80% of U.S. products under CAFTA-DR Growing utilization of English in business U.S. Benchmarks broadly perceived and acknowledged Few import confinements Labeling and testing not normally an issue

Slide 11

Dominican Republic ADVANTAGES Seven global airplane terminals Eight noteworthy seaports State-of-the-craftsmanship ITC base Major Free Trade Zone movement and venture Multiple tourism and second-home development ventures

Slide 12

The Dominican Republic Market Best prospects for U.S. trades incorporate the accompanying business areas: Building Products Automobile Parts and Services Air Conditioning and Refrigeration Equipment Medical Equipment Hotel and Restaurant Equipment Printing and Graphic Art Equipment And Supplies Computers and Peripherals Telecommunication Equipment Renewable Energy Travel and Tourism Services

Slide 13

Business Opportunities in the Dominican Republic With the execution of CAFTA-DR, there are critical extra open doors for U.S. exporters: eighty percent of U.S. fares of customer and mechanical merchandise now enter the Dominican Republic obligation free, with outstanding taxes on different items eliminated more than 10-20 years. Key U.S. send out areas that acquire prompt advantage from obligation disposal include: development hardware and building supplies; car parts and administrations gear; electric force era and dissemination hardware; data innovation items; therapeutic hardware; ventilating and refrigeration hardware; agrarian hardware; and printing and realistic expressions hardware.

Slide 14

Dominican Free Trade Zones Statistics The National Free Trade Zones Council of the Dominican Republic endorsed 102 new organizations in 2008: Textile 22% Call focuses 17% Services 11% There are an aggregate of 526 organizations working in Free Zones, which produce 121,843 occupations. 27% of the organizations are in the material business, the biggest business area. In 2007, imports from the US to the Free Zones totaled right around 500 million dollars. Source : National Free Trade Zones Council of the Dominican Republic

Slide 15

CAFTA-DR: The nuts and bolts Member nations include: U.S., Dominican Republic, El Salvador, Honduras, Nicaragua, Costa Rica, and Guatemala More than 80% US items enter obligation free Remaining duties eliminated more than 10 years Better business and speculation atmosphere - straightforwardness, acquirement, venture assurance

Slide 16

Law 173 Agent/Distributor Protection Law No. 173 Exceptions to Law No. 173 Introduced by CAFTA-DR Practical Advice

Slide 17

The Bahamas HIGHLIGHTS Population: 307 thousand GDP: $6.58 billion GDP growth: 3.1% Per Capita Income $25,000 Bilateral Trade US/Bahamas: $3.36 billion Imports from US: $2.76 billion US Imports Market Share: 23% Sources : Statistics in U.S. Dollar. U.S. Import and Export Merchandise exchange insights. December 2008

Slide 18

The Bahamas OVERVIEW The Bahamas gives great essential base to organizations. Tourism has the biggest division commitment to GDP. High utility expenses.

Slide 19

The Bahamas ENVIRONMENT The Bahamas gives a steady domain to leading business. There is little history of political brutality or insecurity in The Bahamas. The essential foundation for organizations to work is accessible on the greater part of the significant islands. U.S. Traditions and Border Protection has pre-leeway offices in both Nassau and Freeport, offering simplicity of go for businesspersons setting out to and from the US.

Slide 20

The Bahamas BUSINESS CUSTOMS Due to the closeness of The Bahamas to the U.S. what\'s more, the broad commonality of most Bahamians with Americans and American society, business traditions have a tendency to be like those in the United States.

Slide 21

WEBINAR: Caribbean Market: The Bahamas The U.S. Business Service in Santo Domingo is arranging a progression of online classes with our residential Export Assistance Centers in the U.S. to advance fare open doors in different Caribbean markets to American firms. When : Thursday, September 23, 2009 Time : 2:00 - 3:00 pm Eastern Cost : $35 Contact : Linda Abbruzzese linda.abbruzzese@mail.doc.gov

Slide 22

WEBINAR: Caribbean Market: The Bahamas Topics: The Caribbean market all in all. The monetary and political outline How to work together in The Bahamas. Business open doors in The Bahamas market. Legitimate angles and traditions necessities to enter items in The Bahamas.

Slide 23

Barbados and the Eastern Caribbean HIGHLIGHTS Population: 276 thousand GDP: $3.77 billion GDP growth: 0.7 % Per Capita Income $19,300 Bilateral Trade US/Barbados: $537 million Imports from US: $497 million US Imports Market Share: 36.7% Sources : U.S. Import and Export Merchandise exchange insights. December 2008

Slide 24

Barbados and the Eastern Caribbean Market Overview Commercial administrations are secured by the Economic Section at the US Embassy in Bridgetown, Barbados. The Eastern Caribbean islands are Antigua & Barbuda, Barbados, Dominica, Grenada, Saint Lucia, Saint Kitts & Nevis, Saint Vincent & the Grenadines. Barbados appreciates a stable political environment.

Slide 25

Barbados and the Eastern Caribbean OPPORTUNITIES The development in the tourism part has made an interest for inn and eatery gear. There has been a development in the development of estates and top of the line guesthouses especially on the West Coast. Littler scale lodging development proceeds on the South Coast with three new inns booked to open before the end of 2010. Barbados has changed its media communications market. New open doors for US telecom and retail organizations have emerged in the region of call communities for long separation calling and the outsourcing of client administration by means of phone. Barbados appreciates a high rate of web availability, PCs per family and PC education in the side of the equator.

Slide 26

Jamaica HIGHLIGHTS Population: 2.8 million GDP: $9.7 billion GDP growth: 2.5% Per Capita Income $3,640 Bilateral Trade US/Jamaica: $3.37 billion Imports from US: $2.64 billion US Imports Market Share: 40.1% Sources : U.S. Import and Export Merchandise exchange measurements. December 2008

Slide 27

Jamaica OVERVIEW 2.85 million guests, 70 percent from the US. Gross domestic product is US$12.7 billion and development drifts at around 1.5% every year all things considered. 20% of GDP originates from tourism and 20% from settlements from Europe and North America. Pattern of critical interest in the lodging and tourism part. New interstates, expanded vitality generation and port modernization will probably prompt higher GDP development.

Slide 28

Jamaica Market Overview JLP-drove government chose in 2007 on stage of professional business and great administration: Championing the disposal of debasement Tax change Reducing Red Tape: business/improvement licenses Direct Foreign Investment up to $779 million (2007): Increased interest in the tourism segment New arrangement in 2008 to permit 3 clubhouse on the island Strong Investment Potential: Proximity to U.S. business sector and English-talking workforce Natural Resources: Beaches and Blue Mountains

Slide 29

Trinidad & Tobago HIGHLIGHTS Population: 1.3 million GDP: $20.9 billion GDP growth: 5.5% Per Capita Income $16,093 Bilateral Trade US/T&T: $11.25 billion Imports from US: $2.25 billion US Imports Market Share: 28.2% Sources : U.S. Import and Export Merchandise exchange measurements. December 2008

Slide 30

Trinidad & Tobago Market Overview Trinidad and Tobago has an extremely open economy. The lion\'s share of protectionist duties and non-t

Recommended
View more...