Global Solutions for MSMEs in the Context of the Covid-19 Crisis
Promoting trade and investment globally to accelerate the redeployment of MSME activities amid the Covid-19 crisis. Challenges faced by CARIFORUM MSMEs, guiding principles for success, responses from Caribbean Export, and the Caribbean Association of Investment Promotion Agencies. Examples of Caribbean responses include a COVID-19 dashboard, creative industries webinar, and supporting local producers during the crisis.
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Promoting Trade and Investment Globally Solutions to accelerate the redeployment of MSME industrial and commercial activities in the context of the Covid-19 crisis Escipi n J. OLIVEIRA GOMEZ - June 26th , 2020
Challenges for CARIFORUM MSMEs brought by the COVID-19 crisis Promoting a healthy working environment Reaching traditional costumers Declining global consumption Accessing financial resources Managing stock, given disrupted supply chains Generating trust in consumers Supporting the informal sector, backbone of many OACPS economies 2
Guiding principles to successfully tackle the COVID-19 crisis Recognize that this is not a crisis that can be handled by a sector, country or region alone Foster Public-Private Sector Dialogue and cooperation at the national, regional and all- OACPS level Promote national consumption of locally produced goods and services Take advantage of the crisis to promote Leapfrog technologies in our MSMEs 3
Response from Caribbean Export to the COVID 19 Crisis Organising practices and courses for SMEs Talking Export: Management Series exchanges of best A Crisis Flexibilizing programmes in favour of regional MSMEs Collaborating with the CARIFORUM Directorate and the European Union to mobilise unutilised development resources to assist MSMEs regional 4
Response from the Caribbean Association of Investment Promotion Agencies (CAIPA) Enabling rediscover investment opportunities in their own backyards local/regional investors to Building the capacity of IPAs in the use of digital platforms to engage investors Diversifying the investment offering beyond tourism Launching promotional campaign in sector specific publications and globally established news/media houses 5
Examples of Caribbean responses 1/4 Having CARICOM: COVID-19 Dashboard (CARICOM Sect.) a permanent online presence via the Launching Webinar: COVID-19, Creative Industries (Design & Design Thinking) (Organisation of Eastern Caribbean States) Purchasing foodstuff from producers affected by the decline of the tourism sector and distributing it to families touched by the crisis (Dominican Republic) Adding new products to normal production lines as to absorb excess of fresh produce on the market (Jamaica) 6
Examples of Caribbean responses 2/4 Modifying production lines to produce alcohol and hand sanitizer for institutions and frontline healthcare workers (West Indies Rum and Spirits Producers Ass.) Creating online platform to continue assisting national MSMEs remotely (BELTRAIDE, Belize) Working with University of West Indies & Ministry of Health to design, produce & distribute face shields to front line medical staff (Trinidad & Tobago Manufacturers Ass.) Launching CrisisUnit to assist companies with information on applicable measures, business consequences & possible alternatives (Surinamese Chamber of Commerce) 7
Examples of Caribbean responses 3/4 Engaging with the local community via media platforms and increased charitable giving (Dominica Chamber of Commerce) Collaborating between artists from Cuba, Italy and Spain in favor of Doctors Specialized in Serious Epidemics (Cuba) Training front-line workers on how to safeguard themselves and others (Small Business Ass. of Barbados) Launching Grow More Campaign (Georgetown Chamber of Commerce and Industry, Guyana) Organising region wide seminar on COVID-19 response for MSMEs (Chamber of Commerce of Haiti) 8
Fostering Competitiveness World Market National Regional ACP wide
Escipin Oliveira Gmez Deputy Executive Director Thank You Merci M si Obrigado Dank U Gracias Vinaka Asante 11
