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Posted: Tuesday 27 June, 2017 at 7:27 PM

Southeast Asia Chamber of Commerce looking to bridge gap with OECS

By: Jermine Abel, SKNVibes.com

    BASSETERRE, St. Kitts - THERE is an untapped market in Asia for OECS businesses and investment opportunities in the Caribbean region.

     

    That was the view expressed by President of the Eastern Caribbean-Southeast Asia Economic and Cultural Chamber, Matthew Yngson.
     
    Yngson’s organization is working to have entities and individuals tap into the vast opportunities that are available on both sides of the Atlantic.
     
    He stated that there is more to countries in the OECS than the music, the sights, the sea and sand.
     
    Currently on a Carib Road Show to promote his organization and sign on businesses in the region, Yngson travelled to the Federation and met with representatives from the  St. Kitts Tourism Authority; St. Kitts Investment Promotion Agency; St. Kitts and Nevis Hotel and Tourism Association; Ministry of Tourism, International Trade, Industry and Commerce; Ministry of Foreign Affairs; Citizenship by Investment Unit; and the St. Kitts and Nevis Chamber of Industry and Commerce, among others.
     
    According to the President, by becoming a member of the new organization, business entities would have the opportunity to be part of the Action Plan they have to promote and develop opportunities in one of the fastest growing markets.
     
    Currently, they are promoting the South Asian markets, including Singapore, Malaysia, Brunei, Cambodia, Indonesia, Laos, The Philippines and Thailand.  
     
    “We would be doing webinars on how to engage the Asian market or in particular country for that matter. We would have a lawyer or a representative from the government on webinars and they would explain how to do business. At the same time, we would be offering services - that is virtual business -  where you can have the Chamber represent you  in the region.”
     
    Yngson pointed to Ms. Ana Ephraim-Elliott of Sugar Town Wishlist, who joined the entity when they stopped over in St. Kitts.
     
    “So we are doing it individually per member,” Yngson explained. “Depending on the need, we give our suggestion on how they should approach it and which country they should approach. How much it would cost, etcetera.
     
    “We want to make sure that there is no one specific generic programme, but there are going to be specific programmes that we would be offering.”
     
    Speaking about opening the Caribbean to the Asian market, he indicated that there are a number of wealthy individuals who are looking at doing business outside of their homeland, and through the Chamber opportunities would be opened in the region for development.
     
    The OECS, he intimate, has many opportunities for investment, including the Citizenship By Investment Programme. He however stated that many people might not want the passport, but would be looking for business opportunities to compete in a new market.
     
    This, he pointed out, would spill over into job creation and economic development for countries within which they invest.
     
    “People don’t know that people don’t have an idea what is here in St. Kitts and Nevis,” he added.
     
    It was revealed that later in the year, the Chamber would be holding a number of exhibitions in Southeast Asia to showcase the region and what it has to offer.
     
    They are currently engaged in the groundwork to bridge that gap.
     
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