The TEECA project intends to create durable and inclusive trade relations among Caribbean islands and enhance their competitiveness in the globalized world.
The TEECA program aims to enhance market intelligence by creating a collaborative digital platform for information sharing. Export potential studies will be carried out for each key sector, and existing information will be stored digitally for reference.
- A Trade Facilitation Team (TFT) will be established with two offices in order to facilitate exchanges. Each office will be constituted by a multicultural, two-person team—one based in Martinique and another on-site in the Organization of Eastern Caribbean States (OECS) ;
- A pool of 30 companies was selected and an export strategy will be utilized based on specific theoretical and practical accompaniment actions for each sector. The accompaniment of the companies should result in an export strategy that allows for progress and longevity of companies ;
- The dedicated sectors are the music industry, green companies, fashion, agroprocessing and ICT ;
In order to improve the knowledge of financing solutions, a financing guide will be created and available as an e-document in order to provide an inventory of the financing prospective. Caribbean experts will be reciprocally invited to take part in trainings on the financing theme.
Also, to facilitate the co-operation and the exchanges between various Caribbean companies, we will take part in joint events and we will propose the common creation of innovating products.
Resources needed
Total budget: 2,199,099 euros
Interreg (75%), Partners (25%)
Project leader and partners: The Chamber of Commerce and Industry of Martinique, the OECS, Caribbean Export Development Agency
Human ressources : 1 supervisor, 1 project manager, 2 European volunteers, 1 trade facilitation team
Evidence of success
- A business retreat was organized for the participants with 75% of general satisfaction
The objectives of this Retreat were:
- to bring together companies from different OECS countries, in order to foster relationships and future business collaboration ;
- to integrate innovation as a tool to raise competitiveness ;
- to allow English speaking Caribbean entrepreneurs to have a better knowledge of Martinique ;
Difficulties encountered
Companies struggle to define competitive strategies of internationalization in order to answer their specific economic issues, such as small size of markets and companies, limited means, and access to adequate financing. The lack of information, as well as linguistic barriers are challenges.
Potential for learning or transfer
The implementation of the TFT (Trade Facilitation Team) is at the heart of the program. A dedicated team will be in charge of assisting the 30 beneficiary companies in defining their export strategies. This will consist of supporting companies with onsite support (BtoB , visits to businesses, local events), as well as creating financial plans in order to acquire financing.
The aim of the TFT is to be a structure of reference that is present in the Caribbean region, even after the program is over. By establishing the TFT, companies throughout the Caribbean can refer to the TFT to develop their export strategies and have access to market intelligence in order to increase their export potential.
The TFT will be divided into two offices of technical support. Each one will be made up of a mixed two-nationality team (Martinique/OECS – Junior/Senior) to encourage mutual transmission of knowledge and know-how adapted to corporate cultures and business practices in each of the territories.
Tags: Support, SME, Market, Crossborder region, Youth, Internationalisation
