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Though the climates may differ substantially, Newfoundland & Labrador and markets in the Caribbean region face challenges that are alike. As small, mostly island economies, the jurisdictions face similar effects of climate change, coastal zone erosion, and strive to provide efficient and economical services when economies of scale are difficult to achieve and major markets are distant – e.g. in waste management, wastewater management, etc. Economies are both defined by the oceans that surround them.
These mutual circumstances mean that the solutions created to address them can be shared. Newfoundland and Labrador’s firms are well positioned to provide such solutions in the Caribbean, where the markets are of a size appropriate to their experience and capabilities.
Since 2014, NEIA has actively assisted firms in the investigation of, preparation for, and entry in to Caribbean markets – including Barbados, the Bahamas, Guyana, Jamaica, Saint Lucia, Saint Vincent and the Grenadines, and Trinidad & Tobago. NEIA supports firms by providing expert market intelligence through workshops and information sessions, helping in the development of firm-specific market entry strategies, leading business development missions to the region, and arranging incoming delegations.
There is a long history of trade between Newfoundland and Labrador and the Caribbean region, dating back to the export of salt fish in exchange for rum. If you would like to explore opportunities for your firm in the Caribbean, contact us to find out how we can help.
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