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Table of Contents FOREWORD ................................................................................................................................................................1 CARICOM AGREEMENT .........................................................................................................................................1 SECTION 1: MARKET OVERVIEW ..................................................................................................................................2 1.1

Introduction ...........................................................................................................................................2

1.2

Population ..............................................................................................................................................2

1.3

Demographics .......................................................................................................................................2

1.4

Climate ...................................................................................................................................................2

1.5

Language ................................................................................................................................................2

1.6

Hours of Business .................................................................................................................................3

1.7

Public Holidays .....................................................................................................................................3

1.8

Travel & Transportation ......................................................................................................................3

1.9

Time Zone ..............................................................................................................................................4

1.10

Communication.....................................................................................................................................4

SECTION 2.0: ECONOMIC AND POLITICAL ENVIRONMENT ....................................................................................5 2.1

Economic Performance.........................................................................................................................5

2.2

Business ..................................................................................................................................................6

2.3

Labour Force ..........................................................................................................................................6

2.4

Political Stability and Structure ..........................................................................................................6

SECTION 3.0: MARKET CHALLENGES ......................................................................................................................7 SECTION 4.0: TOP MARKET OPPORTUNITIES & PROSPECTS ...................................................................................8 SECTION 5.0: MARKET ENTRY STRATEGIES ...........................................................................................................10 SECTION 6.0: SELLING, MARKETING AND PROMOTION........................................................................................12 SECTION 7.0: REGULATIONS AND STANDARDS.....................................................................................................14 SECTION 8.0: TRADE ENVIRONMENT ....................................................................................................................20 SECTION 9.0: FINANCING EXPORTS TO ST. VINCENT AND THE GRENADINES .....................................................25 SECTION 10.0: CONTACT INFORMATION ..............................................................................................................26 Appendices ................................................................................................................................................................28 Appendix I – Retail Stores ..............................................................................................................................29 Appendix II – Sample Certificate of Origin ..................................................................................................30


FOREWORD This Market Guide is intended to give Trinidad & Tobago exporters relevant, accurate and valuable information for successfully exporting their goods to St. Vincent and the Grenadines. The information contained therein is based on exporTT’s visits to the market, in-market consultant information, and desk research. Feel free to contact us at 1.868.623.5507 to discuss your exporting needs. **********

CARICOM AGREEMENT The Caribbean Community (CARICOM), originally the Caribbean Community and Common Market, was established by the Treaty of Chaguaramas which came into effect on 1 August 1973. CARICOM is an organization of 15 Caribbean nations: Antigua & Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Lucia, St. Kitts and Nevis, St. Vincent and the Grenadines, Suriname and Trinidad and Tobago. There are also five (5) Associate members as follows: Anguilla, Bermuda, British Virgin Islands, Cayman Islands, and Turks and Caicos Islands. CARICOM's main purposes are to promote economic integration and cooperation among its members, to ensure that the benefits of integration are equitably shared, and to coordinate foreign policy. Its major activities involve coordinating economic policies and development planning; devising and instituting special projects for the less-developed countries within its jurisdiction; operating as a regional single market for many of its members (CARICOM Single Market); and handling regional trade disputes. The secretariat headquarters is based in Georgetown, Guyana. St. Vincent and the Grenadines became a member of CARICOM on May 01, 1974.

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SECTION 1: MARKET OVERVIEW 1.1 Introduction St. Vincent and the Grenadines is an archipelago comprising over 30 islands and cays situated at the southern end of the Caribbean island chain. It is located between St. Lucia to the north and Grenada to the south. The main island, St. Vincent, has an area of approximately 133 square miles (332.5 square kilometres) while the Grenadines have an area of 17 square miles. (56.5 square kilometres). The main islands in the Grenadines are Bequia, Balliceau, Canouan, Mayreau, Mustique, Isle D'Quatre, Petit Saint Vincent, and Union Island. The capital is Kingstown. 1.2

Population St Vincent- Population

Population: Total : Kingstown Population Growth

102,918 (July 2014 est.) 28,000 (2009 est) -0.29% (2014 est.)

Median Age

Total: 31.9 years Male: 32 years Female: 31.7 years (2014 est.) 74.86 years

Life Expectancy Source: CIA World Factbook

1.3

Demographics St Vincent- Facts

Status

Independent- 27 October 1979

Ethnic Groups

black 66%, mixed 19%, East Indian 6%, European 4%, Carib Amerindian 2%, other 3%

Religions

Protestant 75% (Anglican 47%, Methodist 28%), Roman Catholic 13%, other (includes Hindu, Seventh-Day Adventist, other Protestant) 12%

th

Source: Caribbean Community Secretariat

1.4 Climate Because the islands lie close to the equator, they enjoy a steady tropical temperature almost yearround. Temperatures range from 18째 to 32째C. The dry season is from December to June, and the rainy season from July to November. 1.5 Language The official language of St Vincent and the Grenadines is English, however, French patois is also commonly used in the island.

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1.6 Hours of Business  Commercial: 8:00 a.m.-12:00 noon; 1:00-4:00 p.m. Monday to Friday  Government: 8:30 a.m.-12:00 noon, 1:00-4:00 p.m. Monday to Friday  Bank hours are from 8:00 am to 3:00 pm Mondays to Thursdays; up to 5:00 pm on Fridays.  Many shops are opened from 8:00 am to 12:00 noon on Saturdays however, most supermarkets and shopping centres stay open later. 1.7

1.8

Public Holidays MONTH January

DAY 1

OBSERVANCE

March April

14 18

National Hero's Day Good Friday

21

Easter Monday

May June July

1 9 7 8

Labour Day Whit Monday Carnival Monday Carnival Tuesday

August

4

Emancipation Day

October

27

Independence Day

December

25

Christmas Day

26

Boxing Day

New Year's Day

Travel & Transportation

1.8.1 Airline Travel There are no direct flights to SVG from outside the Caribbean, as the runway is too small to land jet aircraft. International passengers first fly into a neighbouring island and then switch to a prop plane for the final leg of their journey. St. Vincent & The Grenadines has five major airports. Most visitors fly into ET Joshua Airport (SVD), but you can also opt to fly into the small airstrips found on Canouan (CIW), Bequia (BQU), Mustique (MQS), or Union Islands (UNI). The following airlines fly to and from SVG from within the Caribbean and also offer interisland flights in the Grenadines:  American Eagle  LIAT  Mustique Airways  SVG Air

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Individual Entry Requirements In order to enter St Vincent and/or the Grenadines a person must present a valid passport and an airline ticket. Individual Exit Requirements In addition to a valid passport and a return ticket, there is a $40 XCD (about $15 USD) departure tax from the islands that applies to travellers above the age of 12 which can be included in the ticket prices. You can pay the tax in either Eastern Caribbean dollars or U.S. dollars at the airport prior to departure. However, this does not apply to CARICOM nationals. 1.8.2 Sea Transport Due to the uniqueness and relationship of St Vincent with the Grenadines, sea transportation is a major mode of transport that is utilized on a daily basis. The Bequia Express and Admiralty Transport offer round-trip service from St. Vincent to Bequia every day. One-way fares aboard the Bequia Express cost around $20 XCD (about $7.50 USD) to Bequia; round-trip tickets cost around $35 XCD (about $13 USD). Meanwhile, the Barracuda makes trips between St. Vincent, Bequia, Mayreau, and Union Island five times a week. Ferry schedules are flexible depending on season, so it's best to check timetables in advance. 1.8.3 Ground Transportation Taxis services are available on more populated islands like St. Vincent, Bequia, Mustique, and Union Islands, as well as some of the smaller isles. Taxis are not metered, therefore, the skill of negotiating a price before hitting the road will be valuable. The average cost from ET Joshua Airport (SVD) to downtown Kingstown may cost roughly $30 XCD (about $12 USD). An alternative for travellers is the use of a rental car, temporary drivers' permits cost $65 XCD (about $24 USD). Recommended car agencies include Avis and Ben's Auto Rental (784-456-2907). 1.9

Time Zone

Time Zone

AST- Atlantic Standard Time

Time Difference

No Time Difference with Trinidad and Tobago

1.10 Communication Calls to Trinidad and Tobago to St. Vincent and the Grenadines = 1-(784)-XXX-XXXX Calls from St. Vincent and the Grenadines to Trinidad and Tobago = 1-(868)-XXX-XXXX

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SECTION 2.0: ECONOMIC AND POLITICAL ENVIRONMENT 2.1

Economic Performance Indicator

Economic Performance

GDP

$703.4 million (2012 est.)

GDP per Capita

$11,800 (2012 est.)

Growth

1.5% (2012 est.)

Currency

East Caribbean Dollars XCD East Caribbean dollars (XCD) per US dollar - 2.7 (2013 est.) Bank Notes: 5, 10, 20, 50, 100 Coins: 1, 2, 5, 10, 25, 1 dollar

GDP by sector

Agriculture: 5.4% Industry: 20.3% Services: 74.4% (2013 est.)

Inflation rate Unemployment Imports

2.6% (2012 est.) 3.1% (2012 est.) Foodstuffs, Machinery and Equipment, Chemicals and Fertilizers, Minerals and Fuels Bananas, Coconuts, Sweet Potatoes, Spices; small numbers of Cattle, Sheep, Pigs, Goats; Fish

Agricultural products Source: CIA World Factbook

St Vincent and the Grenadines has a relatively undeveloped economy, nevertheless providing a relatively high quality of life. It is vulnerable as the economic base is very small, and is heavily dependent on agriculture and especially bananas. Bananas alone account for upwards of 60% of the work force and 50% of merchandise exports. Such reliance on a single crop makes the economy vulnerable to external factors., Bananas, were sold to the EU under its preferential arrangements, but since these ended in 2007, Caribbean banana producers have faced a tougher competitive environment, and small, less efficient producers have moved out of banana production. The government has encouraged diversification into tourism, manufacturing, offshore finance and call centres, and has promoted growth of the private sector. Economic growth fluctuates with agricultural output and prices on world markets. The economy has, however, been prudently managed and inflation and debt have been relatively modest. By the mid-2000s, with new investment in tourism infrastructure, economic growth was strong – averaging 5.6% p.a. 2004–08 – but in the face of the world economic downturn of 2008–09, slowed sharply in 2008 (1.4%) and contracted in 2009 (–2.2%) and 2010 (–2.8%), before a weak return to growth in 2011 (0.1%) and 2012 (about 1.2%). Manufacturing is of little economic importance. There is however some, light manufacturing, with the milling of rice and flour; and the production of beer. There are also plants for distilling rum, building yachts, and making boxes for locally produced beer and the packing of bananas.

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The major imports are machinery and transport equipment, food and beverages, chemicals, and fuels, coming primarily from the United States and the Caribbean Community and Common Market (CARICOM) countries, especially Trinidad and Tobago and Barbados. The main exports are bananas, packaged flour and rice, and root crops such as dasheens and eddoes. The country’s main export destinations are the CARICOM countries particularly Barbados, Saint Lucia, and Trinidad and Tobago, the United Kingdom, and the United States. Tourism has grown to become a very important part of the economy. The Grenadines have become a favourite of the up-market yachting crowd. The trend toward increasing tourism revenues will likely continue. The main projects currently taking place in St. Vincent are as follows:  The Argyle International Airport  The upgrade of the Buccament Bay Resort  EC $44MM Leeward Highway Rehabilitation project. Though work is set to begin in January 2014, the project was launched over five years ago and is just now being tendered. 2.2 Business St. Vincent ranked 82 in the 2014 Ease of Doing Business report. They were ranked 75 th in 2013. The main areas of concern was resolving insolvency (189), registering property (153) and getting credit (130). 2.3

Labour Force

Labour Force: Labour Force by occupation:

57,520 (2007 est.) Agriculture: 26% Industry: 17% Services: 57%

The labour focus refers to those persons in society who are willing and able to work, based on the table it is clear to see that that size of the St Vincentian labour force is very small. The labour force is distributed in a similar manner to the major sectors of the economy with 57% of the labour being attributed to the services sector. 2.4

Political Stability and Structure

Prime Minister

Mr. Ralph Everard Gonsalves (2005- Present)

Government

United Labour Party (ULP)

Elections

Every 5 years

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Political Stability and Absence of Violence/Terrorism captures perceptions of the likelihood that the government will be destabilized or overthrown by unconstitutional or violent means, including politically-motivated violence and terrorism. Based on World Bank statistics the latest value for St. Vincent and the Grenadines Political Stability and Absence of Violence/Terrorism is 0.87 in 2011. The all-time low was 0.25 on 2002-12-31, while the all-time high was 1.18 on 2005. Therefore, based on the graph the St Vincentian market is generally a stable market

Political Stability and absence of violence/terrorism 2002 -2011 2 0 2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

Source: World Bank

SECTION 3.0: MARKET CHALLENGES The following challenges were identified in the market: 3.1 Logistics One of the major challenges identified in the market was the lack of cold storage shipping facilities from Trinidad and Tobago to St Vincent. Currently none of the shipping lines that carry refrigerated or reefer containers service the island. Hence temperature sensitive cargo are not easily accessible to the customers. This can be seen as a barrier to trade as Trinidad and Tobago exporters are unable to export products such as deli meats to the island. St Vincent buyers are therefore forced to look at other supplying markets such as the United States and Canada for these products. Inconsistencies in the delivery of products from Trinidad and Tobago was sighted as another major obstacle. Buyers within the market stated that shipments from Trinidad and Tobago are usually delayed and takes an unwarranted period of time to arrive. This leads to buyers switching suppliers to other CARICOM Member States or the United States of America. 3.2 Suitcase Traders “Traffickers� This term refers to individuals who travels back and forth between Trinidad and Tobago and St Vincent on a regular basis mainly to sell their agricultural produce. These traders usually purchase Trinidad & Tobago products to trade on their return to St Vincent. A majority of these products qualify for duty free access and as such a Certificate of Origin is issued to facilitate the preferential access to the country.

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This trade has been sighted as a major challenge for established Vincentian companies who currently have sole distributorship of a product or product line or even attempting to source new products. 3.3 Taste and Preference While there is a heavy presence of Trinidad & Tobago products in the supermarkets and retail stores, there is also solid competition from products from the United States of America. The presence of US products therefore has the potential to shift the taste and preference profile of the local consumers thereby resulting in Trinidad and Tobago exporters losing market share. Therefore Trinidad and Tobago exporters will need to modify their products to match the taste profile of the market. In addition, there should be innovation in packaging and labelling to compete with the international brands.

SECTION 4.0: TOP MARKET OPPORTUNITIES & PROSPECTS The trade in goods between St Vincent and Trinidad and Tobago is skewed in favour of Trinidad and Tobago. Therefore, despite the market challenges highlighted above, there is still major potential for doing business with this country. Some market opportunities and prospects are as follows: 4.1 Aerated Beverages These were identified by buyers in the market as a potential product of interest. Based on line graph below it is evident that the imports of soft drink to St Vincent have been increasing over the 7 year period under review. This can be seen by the upward slope of the line and 63.5% change from 2006.

St Vincent's Import of Aerated Beverages 6000 4000 2000 0 2006

2007

2008

2009

2010

2011

2012

The supplying markets of aerated beverages to St. Vincent and the Grenadines based on the data from ITC Trademap shows that Trinidad and Tobago controls the largest share of the market and represents 41%. This was then closely followed by St. Lucia and the US with 26% and 13% respectively. Observations in the supermarkets confirmed the presence of soft drinks and juices similar to Trinidad and Tobago manufactured products from the US.

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4.2 Deli Meats These were also identified as products of interest in the Vincentian market. Data from ITC Trademap clearly shows that the import of sausages is slowly increasing over the period. This is evident by the gentle upward slope of the line which represents a 23.5% growth in imported sausages.

St Vincent's Import of Sausages 2000 1000 0 2006

2007

2008

2009

2010

2011

2012

The US is the largest supplier of sausages to St Vincent and accounts for 62% of total market share. This was then followed by Trinidad and Tobago, Denmark and Barbados who accounted for 19%. 10% and 7% respectively. Trinidad & Tobago could increase market share for this product once the problem of reefer containers is addressed. 4.3 Cleaning Chemicals This represented another category of products that were of interest to Vincentian buyers. Many buyers stated that their consumers are not brand loyal with respect to this product category. However quality and price are important characteristics to gain market entry. Based on the line graph below which represents St Vincent’s total imports of cleaning chemicals, it clearly shows that the imports have been fluctuating over the 7 year period and represented a mere 4.5% growth increase from 2006.

St Vincent imports of Cleaning Chemicals Surface-active prep, washing & cleaning prep

2000 1800 1600 1400 2006

2007

2008

2009

2010

2011

2012

The supplying markets of cleaning chemicals to St Vincent clearly shows that Trinidad and Tobago is the top supplier and represents 37% of total market share. This was then followed by the US and Mexico with 33% and 13% respectfully. Trinidad and Tobago exporters can continue to advertise their products in the St Vincentian market to increase their product awareness.

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4.4 Furniture This is another sector of interest to Vincentian buyers. However companies indicated that it is imperative for Trinidad and Tobago exporters to be creative in their designs in order to compete with foreign manufacturers. According to ITC Trademap, the imports of wooden furniture into St Vincent have fluctuated over the period 2006 -2012. However there has been a 162.21% growth in furniture imports from 2006 to 2012.

St Vincent's Imports of Wooden Furniture Furniture, wooden, nes

3000 2000 1000 0 2006

2007

2008

2009

2010

2011

2012

Italy is the top supplying market of furniture to St. Vincent and the Grenadines and accounts for approximately 39% of total market share The United States of America closely follows with 25%. Trinidad and Tobago exporters can begin to exploit the St Vincentian market by designing new and innovative wooden furniture to compete with international manufacturers and meeting the preference profile of St Vincent buyers.

SECTION 5.0: MARKET ENTRY STRATEGIES The following market entry strategies can be utilized to enter St Vincent and the Grenadines: 5.1 Samples and Promotional Material The best way for a Trinidad and Tobago supplier to introduce a new product into the retail market is by firstly sending product literature and samples. If interested, retail buyers may then prefer to meet with the supplier, or, in some cases, would like for the supplier to meet with their local importer/distributor. Some importers may ask suppliers to assist with marketing materials and moreover with a percentage of the promotional campaign to help move products off the shelves. However this is an item up for discussion by both parties. 5.2 Direct Sales Due to the small size of the St Vincentian market it may be feasible to use direct sales. Supermarkets in St Vincent import between 60 to 80 percent of their products directly from suppliers. They also represent a wholesale arm and distribute major brands to other retail outlets and to the food service industry. Therefore, selling directly to supermarkets would reduce the cost of the middleman/distributor while maintaining a wide reach of supermarkets, convenient stores and small mom and pop shops.

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Product Flow for Imported Products: Trinidad and Tobago Supplier

Supermarket/ Grocery Store

This method of market entry creates an opportunity to establish a closer relationship with the overseas market and buyers. 5.3 Use of a Distributor Although direct sales can have its benefits, exporters can decide to use a distributor in the market. Foreign distributors purchase the product and are always responsible for payment of the goods. They assume financial risk and generally provide support and customer service. They often buy to fill their own inventories and typically carry a range of non-competitive, but complementary products. The benefit of carrying non-competitive products allows the distributor to focus primarily on a specific type of product without sacrificing similar or competing brands at the same time. Distributors usually have a much wider reach when compared to direct sales. Product Flow for Imported Products: Trinidad and Tobago Supplier Importer/Distributor Supermarket/Grocery Store

5.4 Private Labelling In St Vincent there are some locally manufactured products such as toilet paper and pasta, among others. However, due to financial and other constraints companies are unable to produce in large quantities to supply both local and foreign markets. Trinidad and Tobago manufacturers can enter into an agreement with St Vincentian manufacturers to supply finished but unbranded products which can then be repackaged under the St Vincentian company’s own brand. 5.5 Establishing an Office This is an alternative route that companies can utilize to enter into the St Vincentian market. The registration of an external company creates a legal presence within St Vincent and the Grenadines,

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validates all legitimate operations of the company within the State and subjects the company to certain regulatory requirements of the Companies Act. In order to become registered as an external company in St Vincent and the Grenadines an Application for Registration in Form 21 must be filed with the Registrar. The application must be accompanied by the following:  Request of Name Search and Reservation in Form 26  Statutory Declaration of a Director of the company verifying the particular set out in the application form  Statutory Declaration of an Attorney-at-law confirming compliance with section 344.  Power of Attorney and Consent to act as Attorney in Form 23 empowering some person resident in St Vincent and the Grenadines act as attorney of the company for the purpose of receiving service of process in all suits and proceedings in St Vincent and the Grenadines and all lawful notices.  A notarised copy of each of the corporate instruments of the company  The prescribed fees For further information please contact the Commerce and Intellectual Property Office. See Section 10.0 for contact information.

SECTION 6.0: SELLING, MARKETING AND PROMOTION 6.1 Selling Factors/Techniques Selling factors and techniques are described in the following five steps to master the selling process. Steps

1. Greeting

Description You need to ‘arrest’ the buyer:  Pay attention to dress, hygiene, grooming, handshake, etc.  Treat the buyer’s business card with respect and present your business card in a professional manner.  Speak clearly, paying attention to voice, tone, eye contact, etc.  Use correct titles and surnames.  Have a positive body language.

2. Ask questions to understand the prospect

Don’t ask direct questions but ask leading questions in a conversation type manner to find out the buyer’s need and what he/she is looking for.

3. Present Benefits

Present the benefits of your product/s or service/s in a manner that aligns them to the need of the buyer.

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4. Handle Objections

If the buyer is not interested in your product/s or service/s, don’t end the meeting in despair, remain calm. Instead, take the opportunity to find out more about the market and their needs so that you can possibly make adjustments to your product to suit their needs.

5. Close

It is very important to know and agree on the next steps which should include a thank you email which captures the essence of the conversation and the activities that would follow.     

Other Tips

Be prepared Know your business and your products Be confident Be a persuasive negotiator Confirm appointments at least 24 hours in advance and be on time.  Prepare your marketing tools e.g. brochures, samples, PowerPoint presentations, etc. and make them come alive with images.  Take notes and bring a notetaker.  When using an interpreter, do not speak directly to the interpreter as if the buyer is absent, however keep the conversation focused on the buyer and allow the interpreter to interpret accordingly.

6.2 Retail Market Composition The retail market of St Vincent and the Grenadines is composed of over 30 supermarkets, grocery stores, convenience stores, and gas marts. Only six are large supermarkets and all six are located in St. Vincent. They import most of their food products from overseas suppliers and also purchase a small percentage of food products from other local importers or distributors. About 12 smaller grocery stores offer a smaller selection of food products. In addition, there are approximately seven convenience stores on the island. Both grocery stores and convenience stores occasionally import directly but purchase most of their food supplies from local distributors. Gas marts also compete for convenience in the St Vincent and the Grenadines retail food market. They rarely, if ever, import food products directly from supplier. Additionally, roughly 400 mom & pop shops are currently in business as well and local wholesalers supply their food needs (Source: USDA Foreign Agricultural Information Network). On the construction and industrial materials side of the retail chain there are approximately 18 hardware’s located throughout St Vincent and the Grenadines. The larger hardware stores such as Coreas Hazells Inc., Ace Hardware and General Hardware Supplier among others, purchase directly from foreign suppliers.

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Retail stores in St. Vincent target the local population. In contrast, those in the Grenadines are more geared toward tourists. Every inhabited island in the nation has at least one reasonably well-stocked retail store for the purchase of foodstuffs. 6.3 Distribution Channel Due to the small size of the St Vincentian market, the distribution channels as mentioned above can be either direct since supermarkets carry a distributive, wholesale and retail arm of business. The distributive trade is cross-sectorial and is dominated by the informal distributors (Suitcase traders) and a few large organization such as Coreas & Hazells Ltd, C K. Graves & Co, E.D., Laynes & Co and SMBs such as Randy’s Supermarket Ltd, Bonnadies Supermarket among others. Also a distributor can be utilized in the help promote the product in the market. Some distributors in St Vincent are interested in carrying new products but having exclusivity for products is of utmost importance. Distributors indicated that they would be unwilling to carry products that are currently being sold by the suitcase traders. However, using a distributor will ensure that products are given the necessary attention in the market and can allow for wider reach than selling directly to a supermarket. 6.4 Pricing Information Pricing information is available for following products and is available upon request:  Toilet paper  Liquid Laundry Detergents  Napkins  Cleaning Chemicals  Paper Towels  Jams and Jellies  Bleach  Pepper Sauce

SECTION 7.0: REGULATIONS AND STANDARDS 7.1

Import Requirements and Documentation

The following list of documents are required when exporting to St Vincent and the Grenadines  Commercial Invoice  Certificate of Origin  Packing List  Cargo Insurance (optional)  Transport Document  Certificate of Value 7.1.1 Commercial Invoice A Commercial Invoice is required for commercial shipments. Use the special CARICOM Invoice format, also known as the U.N. Layout Key format, available at commercial stationers. CARICOM provides a CARICOM Specimen Invoice in the recommended format, which lists all the information required on the invoice along with explanatory information on how to complete the form. Shipments not covered by a CARICOM invoice may be subject to delay. CARICOM countries generally require the following information to be included:

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           

Seller and consignee name and address Buyer name and address if different from consignee Name of bank handling transaction (if applicable) Invoice number and date Customer order and other reference numbers Country of origin Destination country Mode of transportation Transportation details Port of lading Marks and numbers Number and type of packages

    

     

Quantity Gross weight Net weight Cubic meters Description (a general description for all the goods, and also a specific per-item description by code or in full to allow for proper classification) Unit price Total price Freight, insurance, packing, and other costs in detail Total invoice value Certification Signature

For airfreight shipments, documents in most cases should accompany cargo such as an Airway bill (AWB). For non-commercial shipments, prepare a Pro-forma Invoice. 7.1.2 Packing list An original packing list is required, signed in blue ink and stamped with a company seal. At least three (3) copies of the packing list should be included. Net weight and gross weight must match weights on commercial invoice and bill of lading. In general, even when it is not required regulation, it is recommended that a packing list be used with all shipments containing more than one shipping unit of packaged cargo. Most countries require a packing list be provided together with the commercial invoice. The required information must be consistent with all information shown on the commercial invoice. At least three (3) copies of the packing list should be included as part of the shipping documents sent to the consignee or the agent thereof. The exact contents of each package should be clearly identified. This should include each item's gross weight and net weight and each package's marks and numbers. 7.1.3 Transport document A properly prepared transport document is required. For ocean cargo, two (2) copies of an ocean bill of lading are required.

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7.1.4 Certificate of Origin A Certificate of Origin is required when goods are eligible for preferential treatment. The Certificate of Origin is to be prepared in two (2) copies using the general Certificate of Origin form, certified by a legal chamber of commerce. 7.2 How to get Certified exporTT’s Trade Facilitation Office is charged with the responsibility of certifying all products and determining their eligibility for preferential treatment into trade agreement countries. In the regard, exporters should complete the following steps to determine their eligibility for preferential access: • Completion of Factory Visit Form (Information Furnished in Support of Declaration of Origin • Payment ($400.00) • Visit by a Certification Officer • Inspection on process of production, raw material and relevant documentation Please see Appendix 1 for a sample Certificate of Origin 7.3 Official Cargo Insurance Requirements Shippers who wish to protect their interests in the cargo in the event of loss or damage prior to delivery to the ultimate consignee should obtain cargo insurance, depending on terms of delivery with either an FOB/FAS clause or, a CIF+10% value coverage. It is more advisable, however, to obtain contingency insurance clause coverage. Having obtained that insurance coverage for the shipment, a copy of the insurance certificate or the insurance policy should be included in the shipping documents sent to the consignee or the agent/transportation intermediary thereof. 7.4 Other general import document requirements Two (2) copies of a certificate of value must be included with each shipment. 7.5 TTBizLink and Single Electronic Window (SEW) TTBizLink is a Single Electronic Window (SEW) that is a secure user-friendly online platform which gives real time approvals to more than twenty five different e-government business and trade related services. It allows individuals to complete application forms online and includes the upload of supporting documentation. Once submitted, these documents are automatically routed to various agencies responsible for processing and approvals. Notifications on the status of applications are sent to applicants via email and if requested via mobile text. Please visit the link below for TTBizlink Certificate of Origin Training Manual Video https://www.youtube.com/watch?v=OMLRApTwEL0

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Please see below of the TTBizlink Process Map

7.6

Procedures, Cost and Time for Exporting to St. Vincent

Procedures to Export Documents preparation Customs clearance and technical control Ports and terminal handling Inland transport and handling TOTAL

Time (Days) 6 1

Cost (US$) 280 100

4 1 12

105 100 585

Source: Doing business Report 2014

7.7 Packaging, Labelling and Marketing Requirements Packaging and Labelling requirements for St Vincent is governed by the Caribbean Common Market Standards Council and approved by the Council of Ministers in December 1978 for use as a voluntary standard. It is recommended that each Territory of the Caribbean community should adopt this standard as a compulsory standard to prevent fraud and deception arising from misleading labelling and to give adequate information to the consumer or user of pre-packaged goods. Each package of pre-packaged goods shall be labelled with the following information:  Common or usual name of the commodity  Name and address of manufacturer  A correct statement of the net contents of the package, major ingredients or contents shall be listed in decreasing order of predominance by weight or volume  An expiry date 7.7.1 Language to be used on Labels of Pre-packaged Goods  All statements required shall be in the English Language, except where the common name, manufacturer’s name, or addresses are in other languages.  All numbers relating to net contents stated on the label shall be given in Arabic numerals or in words

Page 17 of 26


Page 18 of 26


7.7.2 Position of Information on Package or on the Goods The general information required shall be placed on the principal display panel of the package, that is, the part of the package that is displayed or visible to the purchaser or consumer at the point of sale, which may be:  In the case of a box, the side or surface commonly displayed;  In the case of a cylindrical container, an area covering an arc of 40 percent of the circumference of the cylindrical surface;  In the case of a bag with equal sides, one of these sides;  In the case of a bag with sides of more than one size, the size with the largest area;  In the case of a wrapper or confining band that is much narrower than the goods contained therein, the total area of a ticket or tag attached to the container or to the goods;  In the case of an article attached to a display card with which it is sold, the area of the display card and of the package; and  In the case of an ornamental package, at the bottom of the package. 7.7.3 Information on Retail or Unit Price  The label on a package may include a statement of the price of the goods in the package.  Where the price of a package of the goods is not marked on the label or on the package, the price shall be clearly displayed on a card or notice placed in the close proximity to the place where the goods are displayed or exposed for sale. For a copy of a complete packaging and labelling report, please contact us at exporTT. 7.8 Standards The authority charged with the portfolio of standards is the St Vincent and the Grenadines Bureau of Standards (SVGBS). The Standards Act No. 70 of 1992 which was amended by Act No. 28 in 2001 gives SVGBS the authority to prepare and promote standards relating to goods, services, processes and practice used in St Vincent and the Grenadines. Additionally, the SVGBS is responsible for the administration of the Weights and Measures Act No. 16 2003. This legislation gives the SVGBS responsibility for regulating all weights and measuring devices used for trade in St Vincent and the Grenadines. The SVGBS operates in accordance with the:  The World Trade Organization Technical Barrier to Trade Agreement (WTO/TBT)  The CARICOM Regional Organization for Standards and Quality (CROSQ) The SVGBS offers the following services:  Standardization  Conformity Assessment/ Compliance  Certification  Technical Assistance Page 19 of 26


 Metrology Services Weights and Measures  Laboratory Services Please visit the link below for a complete listing of SVGBS fees: http://www.svgbs.gov.vc/index.php?option=com_content&view=article&id=17&Itemid=3 7.9 Customs – Gold Card Programme Members of the SVG Chamber of Industry and Commerce (CIC) doing business with the Customs and Excise Department stand to benefit significantly with a new Gold Card Programme arrangement between both entities. Under the new system, goods would be released upon importation with less customs intervention. Documentation, books and records would be checked, verified and audited subsequently. Besides the quickest possible release of consignments, Gold Card Holders consignments would not be routinely examined. Gold Card Holders would enjoy an improved status when compared with other businesses. Under the new agreement, only members of CIC or a similar organization can become Gold Card Holders. The Chamber, which has a membership of 138 companies, is anticipating more businesses joining the organization to share in this new measure. Following the launching of the Gold Card programme, three business entities Pasta Enterprises Limited, St. Vincent Brewery Limited and Coreas Hazells Inc. were awarded Gold Cards and Certificates

SECTION 8.0: TRADE ENVIRONMENT 8.1 Import Statistics (WORLD) Based on data from ITC Trademap St Vincent’s total imports have been increasing over the 5 year period under review by approximately 36.39%. This is evident by the gentle upward slope of the line graph below.

St Vincent Total Imports 2009-2013

600000 400000 200000 0 2009

2010

2011

2012

2013

The top trading partners with St Vincent and the Grenadines based on ITC Trademap 2012 data are as follows: Table 1- Top 10 trading partners by Value $US ‘000.

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No. 1 2 3

Countries USA T&T Venezuela

Value (USD) 143,408 108,183 22,488

4

UK

19,315

5 6

China Antigua and Barbuda

13,127 9,211

7

Barbados

8,751

8 9

Italy Canada

7,441 6,170

10

Japan

5,185

Other

59,963

The table identifies the top trading partners with St Vincent and the Grenadines. Based on the data it is clear to see that the United States of America is the largest trading partner and accounts for 36% of St Vincent’s total imports. This was then followed by Trinidad and Tobago with 27%. All other countries that exports to St Vincent and the Grenadines accounts for very small shares in the market. 8.2 St. Vincent’s Top 10 Imported Products The table below represents St Vincent’s top 10 imported products by value from the world. The data is based on ITC Trademap 2012 and is represented in US$’000. HS Codes '100190

Products Wheat nes and meslin

Value US$12,968

'020714 '252329

Fowls (gallus domesticus), cuts & offal, frozen Portland cement nes.

US$10,499 US$6,848

'210690

Food preparations nes

US$6,352

'220210

Waters including mineral &aerated, containing sugar or sweetening matter or flavoured

US$4,043

'100630

Rice, semi-milled or wholly milled, whether or not polished or glazed

US$3,589

'300490

Medicaments nes, in dosage

US$3,570

'240220

US$3,359

'870323

Cigarettes containing tobacco Automobiles w reciprocate piston engine displace > 1500 cc to 3000 cc

'100620

Rice, husked (brown)

US$2,368

US$3,173

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8.3 Bilateral Trade Between Trinidad and Tobago and St. Vincent and the Grenadines Based on the Line graph below it is clear to see that over the seven year period imports into St Vincent and the Grenadines have been increasing by approximately 53.71% and it is also evident by the gentle upward slope of the line.

Imports From T&T 2006-2012 150000 100000 50000 0 2006

2007

2007

2009

2010

2011

2012

St. Vincent ranked 12th with a complementarity index of 1.62 with Trinidad and Tobago. The data suggests that merchandise trade with St. Vincent and the Grenadines has less complementary with Trinidad and Tobago when compared to other CARICOM countries. Additionally, St Vincent has a trade intensity index of 197.490, which implies that Trinidad and Tobago has more commonalities with St. Vincent imported products. HS Codes 27* 16 -24 44-49

Category Fuels Food Wood & Wood products

Percentage 66.24 15.15 4.23

28-38* 39-40

Chemicals Plastics/Rubbers

2.53 2.41

72-83* 25-26*

Metals Minerals

2.27 2.1

Other (Categories less than 2%)

5.07

Based on the data from ITC Trademap, the imports of foodstuff, chemicals, rubber/plastics and wood product exports have been decreasing over the three year period 2008 to 2010. Trinidad and Tobago exports a wide variety of products to St Vincent and the Grenadines. Approximately 60% of the revenue generated from exports are derived from products in the petroleum and petrochemical industries (methanol, anhydrous ammonia, propane, butane and other by-products). Based on the table 66% of total exports from Trinidad and Tobago to St Vincent is Fuel, this was then followed by food products which accounted for 15%. 8.4 St. Vincent’s Top 10 Imported Products from Trinidad and Tobago The table below represents St Vincent top 10 imported products by value from Trinidad and Tobago. The data is based on ITC Trademap 2012 data and is represented in US$’000. Page 22 of 26


HS Codes '240220

Products Cigarettes containing tobacco

Value US$3,219

'252329 '220210

Portland cement nes Waters including mineral & aerated, containing sugar ro sweetening matter or flavoured

US$1,885 US$1,668

'190590

Communion wafers, empty cachets of a kind suitable for pharmaceutical use & similar products & bakers' wares nes Sweet biscuits

US$1,112

'190490

Cereals, exclude maize (corn),in grain form, pre-cooked or otherwise prepared

US$673

'340220

Surface-active prep, washing & cleaning prep put up for retail sale Carboys, bottles, flasks, jars, pots, phials and other containers, of Toilet paper

US$648

Bars & rods, containing indentation, ribs, etc., prod during the rolling process, nes.

US$480

'190531

'701090 '481810 '721420

US$802

US$595 US$562

Source: ITC Trademap

8.5 Import Tariffs & Taxes All locally manufactured products that qualifies under the Rule of Origin will qualify under Custom’s for duty free treatment. All other products will be subject to Custom duties, and information on these duties can be sourced at exporTT. St. Vincent and the Grenadines apply Customs duties according to the Caribbean Community (CARICOM) Common External Tariff (CET). Duties generally range from 0 to 20% for nonagricultural goods; up to 40% for agricultural goods, assessed on the CIF value. Additional taxes and surcharges which may apply:  Value added tax (15 percent; exceptions apply)  Customs service charge (4% of CIF value)  Excise tax on certain commodities are assessed on CIF Certain products such alcoholic beverages are subject to specific duty rates based on quantity or net weight. It should also be noted that Ad valorem duties are based on CIF value. For items subject to ad valorem duties, the WTO Customs Valuation Agreement applies. According to this agreement, there are six acceptable methods of determining customs value. Typically the first method is used (unless the buyer and seller are related parties). When the value cannot be obtained this way, or is rejected by customs, one of the other methods is to be used, in descending order:

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1) Transaction value (the price actually paid or payable by the importer, plus certain costs and expenses) 2) Transaction value of identical goods 3) Transaction value of similar goods 4) Deductive value (the sale or resale value, reduced by certain costs such as customs duties, taxes, and commissions) 5) Computed value (calculated by adding together certain costs/values for production, materials, profit and other expenses) 6) Fall-back method 8.6 Trade Barriers As a member of the OECS St Vincent and the Grenadines is expected to implement ARTICLE 164 of the CARICOM Treaty of Chaguaramas. This is a tax on a specific list of products as a protectionism policy to help local manufacturers. This tax will be placed on goods originating from Developed Countries and More Developed Countries (MDC) in which Trinidad and Tobago is classified. Products that are being targeted are: Water, flour, toilet paper, aerated beverages, beer, pasta and furniture. St Vincent and the Grenadines has not been able to implement any taxes as was anticipated under the ARTICLE 164. This is due largely to the fact that small local manufacturing firms are unable to supply the local market. The Ministry of Trade stated that they will not deny any licenses for the above mentioned products for entry into St Vincent. 8.7 Shipping and Logistics The table below represents the average cost of shipping a 20ft and 40ft container to St. Vincent. The transit time is approximately 1 day. Description

20 ft

Ocean freight

40 ft

1,796.00

2,872.00

10.00 46.00

10.00 46.00

75.00 275.00

75.00 325.00

Weighbridge Fee

15.00

15.00

Messenger Fee

25.00

25.00

175.00 189.00

350.00 189.00

2,606.00

3,907.00

OE Export LAC Bill of Lading Documentation fee Container Haulage Fee Container Loading

OE Terminal Handling Charge Courier Total * Rate valid 1 month * Rates are quoted in USD * Port - Point Lisas Port

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8.8

Trade Agreements  St Vincent and the Grenadines is a WTO Member since 01 January 1995. St Vincent and the Grenadines is a member of one customs union, CARICOM (Caribbean Community).  St Vincent and the Grenadines also has two free trade agreements with: CARICOMCosta Rica and CARICOM- Dominica Republic.  St Vincent and the Grenadines also has partial scope agreements with: CARICOMColombia and CARICOM- Venezuela.  St Vincent and the Grenadines is also part of an Economic Association Agreement which is the CARIFORUM-European Community.

SECTION 9.0: FINANCING EXPORTS TO ST. VINCENT AND THE GRENADINES exporTT Limited provides co-financing options (50% reimbursement) for the following market access activities: a. Product Registration b. Trademark Registration c. Product Testing d. Translation & Interpretation Services e. Legal representation for product, brand and trademark registration f. Booth rental at trade shows g. Business to business matchmaking services h. Shipping of samples i. In-store marketing and promotions j. Booth design at trade shows k. Ground transportation for exporTT led groups at trade missions and trade shows l. Brand registration m. Label modification n. Registration at international capacity building forum/workshop Please contact the following person or any other exporTT representative for more information on these services: Mr. Crisen Maharaj Manager- Capacity Building and Programme Financing exporTT Limited 151B Charlotte Street Port of Spain Tel.: (868) 623-5507 ext. 362 Fax: (868) 625-8126 Mobile: (868) 796-4276 Email: cmaharaj@exportt.co.tt Website: www.exportt.co.tt Page 25 of 26


In addition to local banks, to obtain information on financing exports to St. Vincent and the Grenadines, please contact: Mr. Shaun Waldron Manager, Credit & Business Development Export Import Bank of Trinidad & Tobago Limited #30 Queen's Park West, Port of Spain Phone: 1-(868)-628-2762 ext. 288 Fax: 1-(868) -628-9370 Email: swaldron@eximbanktt.com Website: www.eximbanktt.com

SECTION 10.0: CONTACT INFORMATION 10.1 Trinidad and Tobago Office

Contact Information Vincent Ramlochan Research Officer Export Market Research Centre

exporTT Limited

exporTT Limited 151B Charlotte Street Port of Spain Tel: 1-868-623-5507 ext. 380 Mobile:1-868-712-8261 Fax: 1-868-625-8126 Email: vramlochan@exportt.co.tt Web: www.exportt.co.tt

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10.2 St. Vincent and the Grenadines Office Minister of Foreign Affairs, Foreign Trade, Commerce and Information Technology Prime Minister Office (Visa)

Customs

Port Authority

Bureau of Standards

Commerce & Intellectual Property Office

Contact Information Permanent Secretary Mr. Nathaniel Williams Tel. No: (784) 456-2442 PBX No. :(784) 456-1111 Ext No: 319/315 Fax No:(784) 456-2610 Entry Visa Department 4th Floor, Administrative Building Bay Street, Kingstown Tel: +1 784 451 2707 Fax: +1 784 457 2152 E-mail: minatsec@vincysurf.com The Comptroller of Customs Customs & Excise Department Custom House Upper Bay Street, St. Vincent and the Grenadines Phone: 784-456-1083 Fax: 784-456-1851 E-mail: customs@vincysurf.com / office.customs@mail.gov.vc St. Vincent & the Grenadines Port Authority Upper Bay Street, P.O. Box 1237, Kingstown Tel: (784)-456-1830 Fax: (784)-456-2732 Campden Park Container Port Limited Campden Park Bay, PO Box 1797 Tel: (784) 457 8695 Fax: (784) 457 8695 Campden Park Industrial Estate P.O. Box 1506 VC-Kingstown Tel: +1 784 457 80 92 Fax: +1 784 457 81 75 E-mail: svgbs@vincysurf.com Web: www.svgbs.gov.vc Campden Park Industrial Estate P.O. Box 1506 VC-Kingstown Tel: +1 784 457 80 92 Fax: +1 784 457 81 75 E-mail: svgbs@vincysurf.com Web: www.svgbs.gov.vc

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Appendices


Appendix I – Retail Stores Office

C. K. Greaves & Co., Ltd., Supermarket

Bonadies Supermarket, Supermarket

Randys Supermarket, Grocery Store

Gourmet Foods, Grocery Store

Log Enterprises

Vincy Food Service Distributors Limited Coreas Hazells Inc

Contact Information Kingstown/Arnos Vale Tel: 784-457-1074 / Fax: 784-456-2679 Pembroke Tel: 784-457-1074 / Fax: 784-458-4602 Website: www.ckgreaves.com Email: ckgreaves@vincysurf.com Lower Middle St Box 391 Kingstown Tel: 784-456-1679 Bonadies Supermarket No 2 Upper Middle St Tel: 784-457-1616 / Fax: 784-456-1073 Email: bonadiesmkt@yahoo.com Lower Bay St Kingstown Tel: 784-456-2994 / Fax:784-457-9566 Minimart Tyrell Street. Tel:784-457-2480 Bakery Hospital Road. Tel:784-457-2377 Randy's Cash & Carry Lower Bay Street. Tel: 784-456-2694 Email: randys@vincysurf.com / randyssupermarket@yahoo.com Calliaqua Box 1678 Kingstown Tel: 784-456-2983 O'car Bequia Tel: 784-458-3485 / Fax:784-456-2987 Website: www.gourmetfoodsvg.com Email: bequia@gourmetfoodsvg.com / gourmetfood@vincysurf.com Rose Place Middle Street Kingstown Tel: 784-456-2936 / Fax:784-457-1754 Email: logent@vincysurf.com Website: www.logsvg.net Paul's Ave P O Box 842 Kingstown Tel: 784-451-2784 Fax: 784-456-2791 Box 122 Lower Bay St Kingstown Tel:784-456-1201

General Hardware Supplies

Arnos Vale Highway Next to Yvettes Pork City Tel:784-453-9000 Fax:784-456-4141 Email: generalhardware1@hotmail.com

Gibson’s Building Supplies

Victoria Park Rd Box 297 Kingstown Tel:784-456-1725 Fax:784-451-2777 Email: gbssvg@gmail.com / gibsupplies@vincysurf.com

Mariners Hotel

Villa Beach Box 859 Kingstown Tel:784-457-4000 Fax:784-457-4333 Website: www.marinershotel.com Email: frontdesk@marinershotel.com / marinershotel@vincysurf.com


Appendix II – Sample Certificate of Origin


St Vincent and the Grenadines Market Guide - October 2014  
St Vincent and the Grenadines Market Guide - October 2014  

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