CONTACT Magazine (Vol.18 No.3 – December 2018)

looking outwards
Breaking
into Europe
Exporting to the European market can be a
formidable challenge, even without the threat
of Brexit in March 2019. The key is thorough
preparation and reconnaisance, understanding the
Economic Partnership Agreement, and making use
of the many available sources of guidance and
advice
WORDS BY: Caribbean Export
The European Union (EU) is one of the world’s largest trading blocs, with over
500 million consumers. It is an ideal market for Caribbean firms wanting
to trade and grow their businesses, because the Economic Partnership
Agreement (EPA) negotiated between the Caribbean Forum (Cariforum) and
the EU is designed to enable increased trade, investment and development between
the two regions.
Preparation is key to breaking into any new market, and there are many factors
to consider as you embark on this journey. Here are our top tips for succeeding in a
competitive business environment.
Be completely knowledgeable about the product you are offering
A lack of detail and poor communication about your product’s ingredients, sources of
inputs, safety, shelf life etc., can put you at a big disadvantage with a serious buyer.
Make sure you have product information factsheets on hand when engaging potential
buyers.
Identify a specific country in the EU with a strong and growing demand for what
you can supply
Stay up to date on industry trends and consumption patterns, and identify any special
market niches. Consider who you want to sell to, what consumers may want, and
how best your product can meet their needs. The Caribbean Export Intelligence Portal
(www.ceintelligence.com) can help in identifying the target markets with the highest
demand for your goods, and allows you to generate market profiles.
24
Trinidad
and Tobago Chamber
of Industry and Commerce
www.chamber.org.tt/contact-magazine