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