A preliminary review of policy responses to enhance SME access to trade financing in the Caribbean

The economies of the Caribbean face several challenges, such as a lack of economies of scale in production of goods and services exacerbated by small populations, narrow internal markets and scarce capital, which limit the economic gains from self-sufficiency. For this reason, more emphasis should be placed on building export capacity and facilitating trade. If we examine the characteristics of firms in the subregion, the majority can be categorized as small and medium-sized enterprises (SMEs). Moreover, only about 13 per cent of these SMEs export. This suggests that on average the subregion i…

Rising concentration in Asia-Latin American value chains: Can small firms turn the tide?

Dynamic Asia has overtaken the European Union as Latin America and the Caribbean’s second largest export market, after the United States. However, the region’s exports to Asia remain concentrated in few commodities involving a small number of large firms. This book explores the present and future scope for the participation of small and medium-sized enterprises (SMEs) in biregional trade and value chains and the measures that can be taken to make those chains more inclusive and sustainable. SMEs have a low direct presence in the region’s export flows and their participation in the supplier net…

Caribbean Outlook 3: Economic recovery and repositioning in the era of COVID-19. Policy Brief

The economies of the subregion were hard hit by the COVID-19 pandemic, particularly those dependent on tourism. As a result, the Caribbean has seen a reversal of the hard-won gains achieved in growing their economies and reducing unemployment and inequality. The inflation stemming from pandemic supply chain disruption, which has been exacerbated by the war in Ukraine, has made the sustained uptick in economic performance beyond pre-pandemic levels unlikely, notwithstanding strong growth estimates for 2021 and 2022. The last two years have taught the region that continued ‘business as usual’ is…

Promoting corporate social responsibility in small and medium enterprises in the Caribbean: methodology report

Over the past decade, a growing number of companies have recognized the business benefits of Corporate Social Responsibility (CSR) policies and practices. Their experiences are bolstered by a growing body of empirical studies that demonstrates that CSR has a positive impact on business economic performance and is not detrimental to shareholder value. Maximization of profits is perhaps the most important element for ensuring the continuity of the business over the time. However, value creation is also related to social issues such as health and safety, equality and environmental protection, und…

SMEs in the environmental goods and services market: identifying areas of opportunity, policies and instruments: case studies: Argentina, Chile, Colombia and Mexico

Studies of Argentina, Colombia, Chile and Mexico conducted collaboratively by ECLAC and GTZ point to environmental impacts associated with small and medium enterprises (SMEs), particularly in the manufacturing sector. This impact is essentially local, though it can become significant at the aggregate level, i.e., SMEs are responsible for some of the environmental problems caused by industry as a whole. Though SMEs account for only a small fraction of such problems -at the national level, the effect is often marginal in terms of environmental degradation- the impact may be significant and fairl…

The main drivers of arabica coffee prices in Latin America

This paper analyzes the determinants of arabica green coffee prices in Latin American countries using a time series analysis and panel data methods. For this purpose, we construct a panel of different coffee prices: Coffee Organization (ICO) composite prices for Brazilian Naturals, Colombian Milds, and Other Milds; prices paid by the Federación Nacional de Cafeteros de Colombia (FNC) to coffee growers; and farm gate prices by country. The results show that the Brazilian Real to USD real exchange rate, inflation, and rain in January affect prices positively. In contrast, green coffee inventorie…

Non-refundable and co-financing instruments: Promoting export innovation among SMEs in the Republic of Korea

In the Republic of Korea, public export support programmes for small and medium-sized enterprises (SMEs) have played a significant role in the internationalization process of such firms. Multiple non-reimbursable and co-financing instruments that promote export innovation among SMEs have contributed to their export success which, alongside large firms, made the Republic of Korea the world’s fifth largest exporting country in 2015. This study summarizes these support programmes and some key factors in relation to their implementation, some of which may be useful for those responsible for formul…

E-commerce and export promotion policies for small- and medium-sized enterprises: East Asian and Latin American experiences

Abstract As in other parts of the world, small- and medium-sized enterprises (SMEs) in Latin America are important generators of employment while contributing to establishing certain social as well as regional 'equilibria' in the development process within the country. However, SMEs in Latin America are much less 'export-oriented'than their East Asian counterparts. SMEs in Latin America tend to produce import substitutes and non tradables while manufactured exports are still produced by large firms in relativelycapital-intensive ways. In contrast, many East Asian SMEs are…

Innovation and SME internationalization in Korea and Latin America and the Caribbean: Policy experiences and areas for cooperation

Economic relations between the Republic of Korea and Latin American and the Caribbean have expanded rapidly since 2000. Bilateral trade in goods increased more than fivefold, while the region has also become an important destination for Korean foreign direct investment. The region’s interest in Korea also stems from this country’s successful economic and social development experience, as it developed from being one of the poorest countries in the world to a high-income economy within less than six decades. To better understand the divergent trends in Korea and the region, this document reviews…

Information and communication technology (ICT) for development of small and medium-sized exporters in Latin America: Brazil

Information technology for development of small and medium-sized exporters in Latin America and East Asia

This report is the product of a research project titled Comparative Study on East Asian and Latin American Information Technology (IT) Industries , carried out in 2004 and 2005 by the International Trade and Integration Division of the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) in Santiago, Chile, in collaboration with the Institute of Developing Economies Japan External Trade Organization (IDE/JETRO) in Chiba, Japan. The project it was financed by the Thematic Trust Fund - Information and Communication Technology (ICT) for Development, United Nations D…

Digital infrastructure for the internationalization of small and medium-sized enterprises in the Republic of Korea

Small and medium-sized enterprises (SMEs) account for a significant share of the exports of the Republic of Korea, in large part thanks to the sophisticated digital support infrastructure available to these firms. This document analyses how the government implemented this infrastructure over the last decades in close coordination with the private sector. It also presents the prominent institutions and their digital SME export support instruments. Lastly, it identifies some future challenges and recommendations for Latin America and the Caribbean.…

The Regional Coordination Mechanism for the Implementation of the Mauritius Strategy

Opportunities and challenges for MSMEs in Caribbean cross-border e-commerce

THE GOAL OF THE COURSE Training policymakers in good practices to improve thecapacities of MSMEs to participate in cross-border e-commerce. SPECIFIC GOALS To learn about recent developments and trends indomestic and cross-border e-commerce particularly sincethe beginning of the pandemic and to examine thebarriers and challenges that MSMEs face in this type ofinternational trade. To understand the process of digital transformation anddigital capacity-building of MSMEs for the effectiveimplementation of cross-border e-commerce processes,systems and tools, along with the support thatgovernments …

Strategies for increasing economic resilience in the Caribbean

Autoridades del Ministerio de Relaciones Exteriores de la República de Corea visitaron la CEPAL

Una delegación del Ministerio de Relaciones Exteriores de la República de Corea visitó la sede de la Comisión Económica para América Latina y el Caribe (CEPAL) en Santiago, Chile, los días 13 y 14 de mayo de 2019, reafirmando su compromiso de apoyar a los países de América Latina y el Caribe en el logro de los Objetivos de Desarrollo Sostenible (ODS). La CEPAL y la República de Corea han colaborado estrechamente en los últimos años en temas clave como la internacionalización de las pequeñas y medianas empresas (pymes), la reducción de la huella ambiental de las exportaciones y la promoción de …

Authorities from the Ministry of Foreign Affairs of the Republic of Korea visited ECLAC

A delegation from the Ministry of Foreign Affairs of the Republic of Korea visited the Economic Commission for Latin America and the Caribbean (ECLAC) headquarters in Santiago, Chile on 13-14 May 2019, and reaffirmed their commitment to supporting the Latin American and Caribbean countries in achieving the Sustainable Development Goals (SDGs). ECLAC and the Republic of Korea have closely collaborated in the past years on crucial topics such as internationalization of small and medium enterprises (SMEs), reducing environmental footprint of exports and the promotion of sustainable and inclusive…

Comercio electrónico transfronterizo en América Latina y el Caribe: análisis a partir de las visitas a plataformas en línea de comercio entre empresas y consumidores

La falta de datos detallados dificulta el análisis del comercio electrónico transfronterizo en América Latina y el Caribe. En este trabajo se utiliza la base de datos Marketplace Explorer de América Latina y el Caribe, de la Comisión Económica para América Latina y el Caribe (CEPAL), el Centro de Comercio Internacional (ITC) y la Universidad de Ciencias Aplicadas de Ámsterdam, sobre tráfico de visitas a plataformas en línea de comercio electrónico entre empresas y consumidores. Los datos muestran que las diez mayores economías de la región concentran más del 90% del tráfico transfronterizo dir…