COMMERCIAL WORKSHOP IN GRENADA GARNERS INTEREST,

UNCLAS BRIDGETOWN 000624 SIPDIS SENSITIVE DEPT FOR EEB/CBA AND WHA/CAR SANTO DOMINGO FOR FCS E.O. 12958: N/A TAGS: OECS ENRG ECON ETRD XL SUBJECT: COMMERCIAL WORKSHOP IN GRENADA GARNERS INTEREST, ATTENTION ¶1. (U) Emboff conducted a half-day workshop in Grenada on September 24 to promote USG programs that facilitate trade and investment. This was the fourth in a series of these workshops that the Pol/Econ section at Embassy Bridgetown has held. Previous workshops included Barbados, St Lucia, and St Kitts. Thirty participants, representing a broad segment of the private sector, joined in the workshop, which was co-sponsored by the Grenada Chamber of Commerce. The workshop attracted considerable media attention, with Emboff appearing on television three times to promote the workshop and to discuss how Ex-Im, OPIC, USTDA and other trade financing agencies operate. ¶2. (U) Many of the participants were familiar with the Ex-Im Bank -- but not the U.S. Ex-Im Bank, rather the Chinese Ex-Im Bank, which had just completed a highly publicized tour of Grenada, promoting hundreds of millions of USD in potential investments in the country. Many participants in the audience were surprised to learn that they could apply for U.S. Ex-Im financing if they are importing U.S. capital goods. Few of the participants had heard of OPIC, and almost no one knew anything about USTDA. As a result of the workshop, one firm submitted a proposal to USTDA. Several other companies have contacted the Chamber wanting more information on how to pursue Ex-Im or OPIC financing. ¶3. (U) Emboff also met with the Minister of Public Works and the Minister of Environment and discussed Ex-Im, OPIC and USTDA programs with them. The Minister of Public Works said there are three projects he would like to forward to USTDA for possible feasibility studies. These include a proposal for redeveloping the port, a proposal for expanding the airport in Carriacou, and a study of geothermal potential in Grenada. ¶4. (U) Comment: These workshops have proven very helpful in getting the word out that the trade finance arms of the USG -- Ex-Im, OPIC, and USTDA -- are interested in doing business in the Caribbean and are seriously looking at proposals from the region. These workshops have also helped spread the message that the USG remains engaged in the Caribbean and wants to be a partner in helping develop a vibrant private sector. The events continue to be well attended and well received, and we have been asked on several occasions to repeat the programs for additional audiences. HARDT