UNIDO WORKSHOP LAC E URASIAN E CONOMIC U NION - BRICS COUNTRIES - PowerPoint PPT Presentation

UNIDO WORKSHOP LAC – E URASIAN E CONOMIC U NION - BRICS COUNTRIES “ STRENGTHENING INTERNATIONAL ALLIANCES IN THE GLOBAL MARKET” Jacqueline Emmanuel-Flood Chief Executive Officer Saint Lucia Trade and Export Promotion Agency Date

Table of Contents  Background / country information  Main export, facilities  Opportunities for EEU and LAC cooperation  Export instruments, incentives, mechanisms  Investment instruments /manufacture  Useful links

“Located in the Center of the Caribbean”

Economy Economy

Peop eople le and and Cultur Culture e | | Population: 172,255 Nobel Laureates Educated workforce International service Young Population standards

Economic Economic Infr Infrast astructu ucture • 2 Airports • 2 Seaports • 1 Goods Distribution Free Zone • 31 factory shells in 7 industrial parks strategically placed throughout the island

Vieux F ieux For ort Sea P t Sea Por ort

Goods Distribution Free Goods Distribution ee Zone Zone Industrial activities may include Distribution/Trading Telecommunication Services Manufacturing Product Assembly

Inter Interna national Air tional Airpor port

Por ort Castr t Castries ies

Regional gional Air Airpor port

Geog Geography phy Modern Amenities Beautiful Landscape

Saint Lucia’s Main Exports  Services – management consulting, engineering, entertainment, creative arts – 81.5% GDP  Industry – Agro-processed goods, Rum and beer, paper products, essential oils, perfumes - 15.7% GDP  Agriculture – Bananas and plantains, breadfruits, edible fruit and nuts, cocoa – 2.8 % GDP

Opportunities for EEU and LAC cooperation  Services sector – Our Economy is largely service driven and this will be a main area of focus – tourism and management consulting, training and education  Fresh fruits excluding bananas – a large quantity is wasted annually and this would be a welcome market especially to EEU e.g. mangoes, June plums  Agro-processed foods e.g, condiments  Cocoa, Virgin coconut oil, essential oils

Export instruments  Incentives, mechanism to promote export

Comparison of Imports – 2013-2014 Source: Saint Lucia Department of Statistics

Importing into Saint Lucia A Customs Declaration (Single Administrative Document) is required for all goods imported into Saint Lucia. All investors are required to get an import number from the Customs Department when importing. Documentary Requirements for Imports: 1. Invoices 2. Documents of Title (Airway bill/ Bill of Lading/parcel post slip) 3. Certificate of Origin (for goods manufactured from another CARICOM country) 4. Form 61 (For individual items exceeding a value of XCD$2,500.00 determined by the Custom’s Department) 5. Import Licenses/Import Permits (where applicable) 6. Phytosanitary Certificate (where applicable)

Importing into Saint Lucia - Procedure  Persons importing goods by air are required to submit a Customs Entry within seven (7) days of importation of those goods; persons importing by sea, however must submit this document within fourteen (14) days of importation.  Exempt from the above are fresh fish (including shell fish) caught by Saint Lucian fishermen and imported by them in their vessel and passenger’s accompanied baggage. The Customs and Excise Department reserves the right to disallow the entry of any goods imported without the appropriate Customs Entry or the Entry not being filed within the stipulated timeframes.  Where error is found on a submitted entry, an importer may be granted a period of ten (10) days to rectify it. If after final submission the Department is still dissatisfied with the entry, the person will become liable to penalties under the law.  Once all documents are prepared they should be lodged to customs through the online platform ASSYCUDA WORLD by the importer or his agent. The entry will be processed by customs and the entry and goods released once everything is in order and duties have been paid.

Importing into Saint Lucia – Fish and Fish Products 1. The Veterinarian Authority in Exporting country must issue the exporter a Veterinarian certificate which must accompany the products; 2. Prior to importation, the importer of the products or his agent (herein called the applicant) must apply for an import permit with the Ministry of Agriculture, Veterinary and Livestock Department. This is done online using the ASYCUDA World platform; 3. Veterinary and Livestock Department, assuming everything is ok, approves the application and forwards it to Ministry of Commerce. 4. The applicant must apply for an import license with the Ministry of Commerce via the ASYCUDA Word online platform; 5. Assuming everything is ok, Commerce approves the license and the send the electronic license to the applicant via the online platform; 6. The applicant prepares the Single Administrative document (SAD) or Customs/import Declaration for the goods to be cleared.

Importing into Saint Lucia – Animal and Animal Products (except guinea fowls) 1. The Veterinarian Authority in Exporting Country must issue the exporter a Veterinarian certificate which must accompany the products; 2. Prior to importation, the importer of the products or his agent (herein called the applicant) must apply for an import permit with the Ministry of Agriculture, Veterinary and Livestock Department. This is done online using the ASYCUDA World platform; 3. Veterinary and Livestock Department, assuming everything is ok, approves the application and forwards it to Ministry of Commerce. 4. The applicant must apply for an import license with the Ministry of Commerce via the ASYCUDA Word online platform; 5. Assuming everything is ok, Commerce approves the license and the send the electronic license to the applicant via the online platform; 6. The applicant prepares the Single Administrative document (SAD) or Customs/import Declaration for the goods to be cleared.

Investment instruments /manufacture  Tax Holiday up to a maximum of fifteen (15) years.  Waiver of Import Duty on imported plant, machinery and equipment.  Waiver of Import Duty on imported raw and packaging materials.  Carry forward of losses.  Unrestricted repatriation of Profits and Capital.

Investment instruments /manufacture Free eezon one e Ben enefits efits The incentives that a company may qualify for based on its location operating within the Free Zone include: • Exemption from custom duties, taxes and related charges on all classes of goods entering the Free-zone for commercial or operating purposes. • No restriction or taxes on foreign exchange transactions. • No taxes on dividends for the first 20 years of operation. • No work permits fees for management personnel of the Free-zone businesses. • No import or export licenses or price control • No price control. • No company income tax for the first five years, thereafter very limited tax range.

Priority Sectors for Investment  Tourism  Smart Manufacturing – e.g. Agro-processing  Hard Infrastructure – e.g. roads, ports, bridges  Soft Infrastructure – e.g. ICT, training institutions

Investment opportunities  Manufacturing/export – Forest Springs  Tourism – Choc valley Development; Jade Sea; Morne la Blanc; Le Paradis  Land Asset – Anse de Sable; Black Bay Lands; Chadon, Fond D’Or Bay, IL Parata

Useful links  tepa.org.lc  stluciachamber.com  stlucia.org  slcsi.org.lc  stats.gov.lc  commerce.gov.lc  investstlucia.com