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

looking outwards
EU-Caribbean: trade in goods 2015-2017 (billion euros)
Year EU imports EU exports Balance
2015 4.6 7.4 2.9
2016 3.6 7.0 3.4
2017 4.0 7.2 3.2
EU-Trinidad and Tobago: trade 2015-2017 (million euros)
Take steps to
protect your
intellectual
property (IP)
in each target
market
2015 1243 660 -583
2016 684 595 -89
2017 1139 513 -626
Source: ec.europa.eu, retrieved on 3 October 2018
Find out about the rules and requirements for exporting to
the EU
There are several non-tariff measures, such as technical
regulations and standards, which must be adhered to when
exporting to the EU. They may vary according to your export
sector. For instance, if you are a food exporter, you will need to
ensure that your product meets the health and safety standards
of the EU: products can be rejected at EU borders for noncompliance.
You will also need to identify any additional, nonlegal
buyer requirements that can enhance your chances of
successfully exporting. These may include quality management
systems, certification (HACCP, Global GAP), and sustainability
standards (Fairtrade, Rainforest Alliance). Additionally, make
sure that you are familiar with the documentary requirements
for export, such as the Commercial Invoice, Customs Value
Declaration, and the Single Administrative Document (SAD).
Develop a strategic export/market entry strategy
Determine the best buyers for your products, and research the
appropriate market segments to ensure that you can meet
the quality and quantity demands of the EU market. Consider
partnering with like-minded suppliers who can help you to meet
quantity requirements and find the best channels to penetrate
the European market. Caribbean Export’s Distribution Channel
Mapping Tool on the CE Intelligence Portal provides guidance
to SMEs on profiling, approaching, and selecting a suitable
distributor.
Participate in trade shows and undertake missions to your
target market
While this may be a costly undertaking, it is always useful to
get a first-hand view of how business is done in the country
you have selected. Check out your main competitors, review
prices for similar products, and begin to introduce your
product to potential consumers.
Protect your intellectual property
Both goods and services exporters should take steps to
protect their intellectual property (IP) in each target
market. This can be achieved through various tools such as
trademarks, patents, copyrights, industrial design rights, and
geographical indications.
Use available resources
Taking the first steps to exporting to Europe can be a
daunting process. But there is a wealth of information and
support to help you on your journey. Caribbean Export
has developed a short, practical, commercially-led export
guidance manual which begins by assessing your export
readiness and provides information on how best to profile,
approach and select a suitable distributor.
There is further advice and information on breaking
into EU, US and other markets, as well as financing
and investment, on the Caribbean Export website
(www.ceintelligence.com).
26
Trinidad
and Tobago Chamber
of Industry and Commerce
www.chamber.org.tt/contact-magazine