“There is a market for French products, bakeries, restaurants and wine” in St Kitts

More than entrepreneurs were able to attend the presentation by Mrs. Carol Boddie, board member of the Chamber of Commerce and Industry of St. Kitts and Nevis and manager of an accountant company.
President Jean Arnell recalled the importance of such events in his opening speech: "Regional integration is more than necessary. Facilitating access to new markets is vital to the survival of our local businesses and is an integral part of our commitment to offer new services at CCI Saint-Martin. St. Martin and St. Kitts have forged links in the past; there are still many French companies in St. Kitts today. We need to connect with other Chambers of Commerce and see how we can work together and allow our companies to open up to the Caribbean. "
In order for the attendees to better grasp the economic structure of St Kitts and Nevis, it was necessary to retrace the History of these two islands, for which sugar was the main industry for over 300 years. However, having suffered from major loss and high level of indebtedness leading to important unsustainable depletion of GDP, the sugar industry closed in July 2005, putting an end to sugar production.
Though the industry had played a crucial role within the social and economic development of St. Kitts and Nevis the Government was then faced with significant challenges and had to find ways to transition from that industry into another thus reconfiguring its economy. In that sense, the Government had to implement an economy-wide adjustment program.
A long-term strategic plan providing social safety net programs and sourcing funding for transitional activities were implemented. One of the most famous that contributed massively to the St. Kitts and Nevis economic development being the CBI (Citizenship By investment) program. The Government utilizes this program to attract investors of good character to make a substantial contribution to the development of the Federation. These investors are then given the opportunity to apply for citizenship and passport within the strict guidelines of the law and the relevant regulations.
Carol Boddie presented the various opportunities that the Tourism, Agricultural and Manufacturing sectors have to offer as well as the fiscal incentives available for companies that would invest in St. Kitts. “There is a market for French products, bakeries, restaurants and wine” said Carol Boddie. She also emphasized on the differences between the functions and duties of the Chamber of Commerce and Industry of St. Kitts and Nevis and those of the Saint-Martin Chamber of Commerce.
For a first collaboration between both Chambers, the Saint-Martin Chamber of Commerce expresses its satisfaction and plans to repeat partnerships like this that are in the interest of all persons involved.
The Saint-Martin informs its constituents that these events will be renewed during the year 2016, places are limited advance registration is required.