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EU Ambassador, Daniela Tramacere, says the EU has invested a considerable amount of financial and technical resources in support of private sector development in the Caribbean, in recognition of the numerous threats and challenges faced by micro, small and medium enterprises. Ambassador Tramacere was at the time addressing the 2016 Caribbean Exporter of the Year Awards organised by the Caribbean Export Development Agency.
She said since the signing of the Economic Partnership Agreement in 2008, exports from the Caribbean to the European Union have increased by 20% between 2009 and 2013. However, the EU ambassador lamented that these exports are still largely comprised of traditional products, traded in traditional markets, as the level of diversification set has not materialised.