By: Staff Writer
October 24, 2023
The European Union (EU) promoted the Global Gateway investment agenda at this year’s Caribbean Investment Forum in The Bahamas whilst looking forward to the the development and transformation of the private sector in the region.
Felix Fernandez-shaw, director for international partnerships and Latin America at the EU, said that upon launching the Global Gateway Investment Agenda in July of this year at the EU-LAC Summit held in July, they are ready to work “hand in hand to drive Caribbean economic transformation and private sector development.”
Mr Fernandez-shaw also said: “The Global Gateway strategy was launched by the EU in 2021 and we wanted to have a specific Global Gateway Investment Agenda for Latin America and the Caribbean.”
With over 130 projects shared between the EU and Caribbean in the region, both sides must serve each other equally and be an “opportunity” for each other.
Mr Fernandez-shaw also said: “You will remember that the Global Gateway was about several new innovative sectors: The digital sector, where we have the EU-LAC digital Alliance; the Bella cable; digital finance solutions in the Caribbean, in Jamaica, in Trinidad.
“Where we are working on cyber capacity building also with Dominican Republic and other Caribbean islands, climate and energy where we know that investing in new sources of renewable energy adaptation and resilience and fostering the green bond market, we try to mobilize capital for financing a sustainable transition, but in particular, to come to the Caribbean.
“In particular, also addressing the Sargassum. The Sargassum is one of those problems that no matter how much each of us does, we need to address it collectively from Mexico to Barbados.”
Therese Turner-Jones, director of projects at the Caribbean Development Bank, also said that the CBD is “honoured” to be a part of the CIF, 2023 and said that the Caribbean should remember the privilege it has for being so peaceful and investor friendly amid conflict around the world.
M Turner-Jones also said: “Over the course of this forum, we expect you to take advantage of the bold opportunities in this space. A lot has already been said about what’s being offered. But many investors have come from a long way away from our region, and we welcome them to discover our worth.
“My hope is that Caribbean businesses walk away with deals in hand, along with new contacts and alliances. We are certainly here to help all of us on this stage and in this room to turn your vision into reality.”
The CDB is there to help build partnerships and facilitate connections wherever they may be found over the three day event.