IIC, KOTRA hold FINPYME workshops on international marketing in Suriname, Guyana, Barbados, and The Bahamas


Paramaribo, Suriname – From November 2 to 9, 2011, the Inter-American Investment Corporation (IIC) held workshops on international marketing in Suriname, Guyana, Barbados, and the Bahamas in alliance with the Korea Trade Investment Promotion Agency.

FINPYME is the IIC’s umbrella initiative for technical assistance geared towards small and medium-sized enterprises with the goal of improving their overall competitiveness and facilitate their access to potential sources of financing.

Two IIC’s FINPYME programs in particular are strong in the Caribbean: FINPYME ExportPlus, which conducts market studies, selects potential beneficiary enterprises in strategic sectors, and provides direct technical assistance that generates specific advantages with concrete results; and FINPYME Diagnostics, a two-phase program that identifies areas presenting management challenges and then, delivers technical assistance to improve these areas. Both programs in the Caribbean are financed by the Korea-IIC SME Development Trust Fund.

The workshops were designed to disseminate practical knowledge on international marketing, including tools for developing new markets and critical information for SMEs to respond to ever-changing international markets, including regional trade agreements. An expert from KOTRA showcased some successful international marketing strategies undertaken by Korean companies, which started as SMEs but ultimately grew to become international firms. In the case of Suriname, and at the request of local companies, KOTRA focused on how to promote products in an efficient way via Web-based tools. The IIC also benefitted from collaborating with its local Surinamese agent, the Suriname Business Development Center.

Ms. Narae Lee, IIC consultant in charge of the FINPYME ExportPlus and FINPYME Diagnostics programs in the Caribbean, expressed her satisfaction with these particular workshops: "As a international financial organization, we are making our best efforts to transfer and share knowledge, inviting international experts to this strategic network. Our alliance with KOTRA represents our continuous effort to help SMEs in that regard."

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 49 operations channeling US$374.8 million to SMEs in the region For more information on the IIC’s activities, please visit www.iic.org

Contact: Narae Lee

Telephone: (202) 623-3893

Email: narael@iadb.org