470 companies from Latin America and the Caribbean participated in the event’s most recent edition, which has become a business meeting space for regional SMEs
San Jose, 31 October 2022 (IICA). The sixth edition of the Virtual Business Roundtable of Agrifood Chains was organized to promote trade relations and networks among companies across the agrifood chains of Latin America and the Caribbean in order to diversify their markets and promote economic recovery in the wake of COVID-19. A total of 470 businesses participated in the event, which resulted in trade deals valuing USD 25.8 million.
The participating companies represented 24 countries, including Costa Rica, Guatemala, El Salvador, Honduras, Nicaragua, Panama, Belize and the Dominican Republic, with buyers and sellers from Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Uruguay, Paraguay, Peru and Venezuela.
In representation of the Caribbean, companies from Cuba, Puerto Rico, Trinidad and Tobago and Jamaica also took part in the event.
The virtual business roundtable was held via the platform of the Central American Trade Network (CATN) and was organized by the Secretariat for Central American Economic Integration (SIECA), the Inter-American Institute for Cooperation on Agriculture (IICA), the Food and Agriculture Organization of the United Nations (FAO) and the Executive Secretariat of the Central American Agricultural Council (SECAC).
This edition promoted the trade of fruits and vegetables, dairy, seafood, tea, coffee and cocoa, natural juice drinks, basic grains, seeds, meat, honey, tubers, sauces and condiments and baked goods, in addition to a range of services including customs and foreign trade consulting, specialized packaging, transportation and logistics, machinery and equipment and agricultural innovation.
Edith Flores de Molina, Director of the Center of Studies on Economic Integration (CEIE), expressed that “The virtual business roundtable enabled companies from Latin America and the Caribbean to network, helping them to do business and generate contacts without additional costs given that the event was virtual”.
She added that the CATN platform was developed in 2016 by SIECA through the CEIE to be able to offer the corporate sector a virtual space for business opportunities.
“On this occasion, we had 344 sellers and 126 buyers from 24 countries in the region. During the various meetings that were held, the attendees discussed the opportunity for deals valuing more than 25 million dollars. This is particularly important for the countries of Latin America and the Caribbean that are working on economic reactivation initiatives”, commented Flores.
Oswaldo Segura, Trade and Competition Specialist at SECAC, commented that: “Based on the six editions we’ve held, business roundtables have shown to be a simple tool for SICA region companies to obtain new business and face head on the complexity of the international market as a result of the COVID-19 pandemic, the container crisis, geopolitical crises and the volatility of agricultural input and energy prices. We look forward to continuing to work closely with partners in support of agriculture in the region”.
Daniel Rodríguez, Manager of IICA’s International Trade and Regional Integration Program, explained that business roundtables have become a space in which to establish trade relations among the countries in the region.
“Our hope is that this wide range of destinations will allow companies and producer organizations to consolidate and diversify their presence in regional markets, thereby contributing to strengthening intra-regional trade and food and nutrition security in the region”, he expressed.
“This sixth edition, with the numbers reflected, is indicative of the importance of working together in sectoral alliance with regional partners to support the promotion of SMEs and family farming organizations in inter- and extra-regional trade in order to contribute to food security and the livelihoods of farmers and consumers”, said Pablo Rabczuk, Trade and Agrifood Systems Officer at FAO.
Virtual business roundtables are a space for SMEs and family farming organizations to make contact with potential strategic partners, customers and suppliers.
The meetings are scheduled by the participants themselves and can be held on a cellular device or computer with an Internet connection to drive the development of business networks in the agrifood sector of Latin America and the Caribbean and, with it, the digitalization of trade promotion activities.
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