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Export Development

Export Development

The Government of St.Vincent and the Grenadines has embarked on a programme of transforming the country into an exporting nation that will be self-sustainable and balanced in growth. Projections forecast exports of goods to exceed EC$150 million and exports of service to exceed EC$435 million by the year 2007.

Measures have been taken to ensure that the country provides the appropriate environment and support necessary to facilitate this export-led strategy that encompasses goods and services.

The construction of the new jet port in Argyle will serve to compliment the existing air facilities at the other smaller airports on the Grenadine Islands. 

The main air cargo carrier servicing St.Vincent and the Grenadines is Amerijet. Services on a smaller scale are provided by the passenger Airlines LIAT and Caribbean Star.

St.Vincent and the Grenadines also has excellent seaport facilities at Kingstown and the Container Port at Campden Park. The Government is currently examining the possibility of establishing a Free Port/Zone at the Campden Park Container Port.

Internationally known companies including Geest Line, Bernuth Lines, Tropical Shipping, KLine, Mitsui, Osk Lines, Crowley, CGM Lines, and Hual Lines provide cargo Services to the seaports of St.Vincent and the Grenadines.

Further support for export development will be provided in 2005 when the NIPI in conjunction with the Ministry of Trade and the Office of the Prime Minister establishes an Export Development Plan and an Export Development Council (EDC). The Commonwealth Secretariat, through its Special Advisory Services Division will be providing technical support for the project.

Proposed benefits of export-related investment may include:

The export incentive programme including reduced duty on machinery, and spare parts used in the manufacture of export foods or services, tax credits for imported inputs and raw materials used for production and packaging of exports and tax rebates on market exploration and promotional activities

  Exporter Accreditation – available to investors involved in production, manufacture or trade of goods and services which earn at least 30% of normal operating revenues from the export of their goods and services.
  Training programmes for export including training of workers in order to facilitate the shift from goods production to service delivery and seminars for current and potential exporters in export procedures and trade arrangements, packaging, product/service development etc
Access to market intelligence
Inclusion in Trade Promotion Programmes including online trade fairs, outgoing missions to sector specific trade shows and inward buyer missions
Export financing schemes including export guarantees and export insurance.

Certain projects with high export potential include

  Agro-processing e.g. coconut cream and desiccated coconut, fruit processing, cassava and arrowroot processing. (Plant, machinery and produce for some of these projects are already available.
Tourism including construction of conference and spa facilities.
Information and Communications Technology.
International Financial Services.

Further details on these opportunities can be found in the relevant section.

Opportunities also exist in manufacturing e.g. model shipbuilding and souvenir manufacturing.

St. Vincent and the Grenadines has a domestic market of approximately 110,000; therefore expansion of the economy must be based on export development. It is anticipated that most investments obtained during investment promotion will result in significant portions of output being exported. Consequently, all investors will be seen as potential exporters.

Given the close link between export development and investment, the conditions required for the establishment of the export development sector are exactly those used for investment. Considering the strides made by the NIPI in the investment sector over the past year, the implementation of the export development unit is expected to be a straightforward process.

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