IIC’s FINPYME ExportPlus program holds a workshop for Barbadian agricultural producers


St. Michael, Barbados - On July 25, 2011, the Inter-American Investment Corporation (IIC), in collaboration with the Inter-American Development Bank (IDB), the Barbados Investment and Development Corporation (BIDC), the Barbados Manufacturers’ Association (BMA), and Scotiabank, held a FINPYME ExportPlus workshop on new requirements and opportunities for SMEs to export fruit and vegetables to the United States.

This was the second round of FINPYME ExportPlus technical assistance activities organized in 2011 to support the objectives of the World Trade Organization’s Aid for Trade initiative. As part of this activity, technical experts provided direct assistance to SMEs so they can improve their competitiveness and capacity to export.

During the workshop, participants learned about key regulations of the U.S. Food and Drug Administration. Topics included labeling requirements such as food, nutritional and health information, and food safety, and how a food label must include complete, useful, and accurate nutritional information. After the workshop, one-to-one expert advice was provided. More than 50 SMEs attended the workshop, which was possible through the financial support of the Korea-IIC SME Development Trust Fund.

According to Bobbi McKay, executive director of the Barbados Manufacturers’ Association "FINPYME ExportPlus is creating a lot of value for SMEs. This workshop was a very important opportunity for Barbadian companies in the agriculture sector to improve their international reach and learn about phytosanitary standards, in order to export to the U.S. markets."

About the IIC

The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2010, the IIC reached US$1.4 billion in assets and approved forty-nine operations channeling US$374.8 million to SMEs in the region For more information on the IIC’s activities, please visit www.iic.int

Contact: Antonello Bove

Telephone: (202) 623-3905

Email: antonellob@iadb.org