Cayman Chamber joins CAIC: Chamber CEO Wil Pineau is pictured with representatives from the CAIC and regional leaders. Left to right: Philip Simon, Executive Director, Bahamas Chamber of Commerce; Mr Pineau; Carol Evelyn, President, CAIC; Carol Ayoung, CEO, CAIC; Hon Karen Nunez-Tesheira, Minister of Finance, Trinidad and Tobago; Permanent Secretary of Foreign Affairs and Foreign Trade in Jamaica; and Nigel John, Immediate Past President, CAIC.

The Cayman Islands Chamber of Commerce has joined the Caribbean Association of Industry and Commerce (CAIC).

Chamber of Commerce Council President Stuart Bostock, said, “One of the main objectives of the Chamber is to increase trade and business opportunities for our members and we believe that the CAIC will provide us with many important business contacts at the regional and government levels.

“We intend to maximise this new partnership by promoting the products and services of our members to other businesses in the region and to participate in key conferences to facilitate trade in products and services.”

The CAIC represents national private sector organisations, transnational companies, local companies and various educational sector business groups in 20 Caribbean countries including Antigua and Barbuda, Belize, British Virgin Islands, Barbados, Bahamas, Cuba, Dominica, Dominican Republic, Guadeloupe, Guyana, Grenada, Haiti, Jamaica, Montserrat, Netherland Antilles, Suriname, St. Lucia, St. Kitts & Nevis, St. Vincent and Trinidad and Tobago.

The CAIC faciliates the development, growth and competitive positioning of Caribbean businesses in the changing world economy and represents their members’ interests in regional, international and hemispheric matters.

The CAIC does not replicate private sector representation at a national level, but serves as an umbrella organisation for private sector representative bodies by providing a supporting voice at the regional level for national representative bodies.

Chamber CEO Wil Pineau recently travelled to Kingston, Jamaica to represent the Chamber of Commerce at the CAIC 94th Board of Directors meeting, 54th Annual General Meeting and the 4th annual Private Sector Meeting with Ministers of Trade and Ministers of Finance from 12-13 June.
The meetings attracted the Finance and Trade Ministers from Jamaica, Trinidad and Tobago and Grenada, and Caribbean private sector leaders from the financial services, tourism, manufacturing and professional services sectors.

The 4th annual Private Sector Meeting with Ministers of Finance and Trade addressed issues relating to the financial markets, the Caribbean Single Market and Economy, the cost of doing business in the region and the outlook for the Caribbean energy sector.

Hon Karen Nunez-Tesheira, Trinidad and Tobago Minister of Finance, delivered a presentation entitled “The Case of CLICO- Exploring the Prospects of the Building of  a Unified Caribbean Financial Regulatory System” and Wayne Wray, Chairman of the Caribbean Association of Indigenous Banks discussed the need to establish a regional credit bureau.

University of the West Indies Professor Emeritus Dr Harold Ramkissoon, Executive Secretary of CARISCIENCE, discussed the need to transform the Caribbean science and technology landscape to assist with economic development in the region.

Douglas Orane, Chairman and Chief Executive Officer, Grace Kennedy Ltd., offered delegates examples of how Grace Kennedy has responded to the global economic crisis and has been able to prosper despite challenging market conditions.

He said the same principles used at Grace Kennedy can be adopted by regional governments or businesses during these challenging times. His advice was to do your scenario planning early; become more nimble and creative in your decision making; review your strategic objectives in light of changing conditions and execute on time.

The Cayman Islands Chamber of Commerce was founded in 1965 to support, promote and protect the business community and the public welfare of the Cayman Islands.

The Chamber Board and membership comprises more than 700 businesses and associations that employ more than 20,000 workers in the Cayman Islands.

The Chamber seeks to work along with its members to ensure that the Cayman Islands remains a prosperous and attractive jurisdiction to live and conduct business.

For more information or to enquire about Chamber programmes, events or sponsorship opportunities, contact Kennedy Powery at 949-8090 (ext. 124) or at kennedy.powery@caymanchamber.ky