CCAA: SMEs will drive development of Central America, Caribbean

Small and medium-sized enterprises are the engines that will drive the development of Central America and the Caribbean, according to Mr. Manuel Rosales, president of Caribbean-Central American Action (CCAA), a private, independent organization that will hold its 31st Annual Miami Conference on the Caribbean Basin from December 3-5.

“SMEs are the elements that will spur the economies of the region’s countries and so we need to find a way to facilitate their insertion into the globalized markets, through access to financing and opportunities to make financial transactions, as well the training of their staff,” said Rosales, who added that this will be one of the main issues discussed at this year’s gathering, whose theme will be “A Region Poised For Growth.”

The conference, which each year brings together regional presidents, government officials and more than 600 private and public sector participants from the Caribbean, Central America and the United States, will analyze the aspects needed both to accelerate the region’s growth and articulate strategies that allow the most effective solutions to be found.

Among other topics, participants will discuss opportunities for the region following the signing of free-trade accords like DR-CAFTA and the full implementation – in January 2008 – of the CARICOM Caribbean Single Market and Economy.

In this context, Mr. Anton Edmunds, the CCAA’s executive director, said it is time for governments and representatives of private sector companies in the region to employ all their will and creativity to competitively enter the globalized markets of the 21st century.

“We need to diversify the supply of products offered by the region’s countries. That means sectors like call centers and clothing companies can be marketed even more, and even the traditional tourist offering that tends to be geared toward beaches, eco-tourism and health can be broadened,” the executive said.

Participants at the meeting will also analyze the negative impact of crime on the region’s development, as well as the need to have reliable electricity service and use alternative fuel sources.

The list of invited speakers includes Leonel Fernandez, president of the Dominican Republic; Martin Torrijos Espino, president of Panama; John Negroponte, U.S. deputy secretary of state; Carlos Gutierrez, secretary of the U.S. Department of Commerce; Dan Sullivan, assistant secretary of the U.S. Department of State; Bruce Golding, prime minister of Jamaica; Hubert Ingraham, prime minister of the Bahamas; David Emerson, Canada’s minister of international trade; and Jose Miguel Insulza, secretary general of the Organization of American States.

“In holding this conference we’re looking to find the answers to the region’s problems and in that way be a part of the solution,” Rosales said.

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