The Caribbean Export Development Agency (Caribbean Export), in collaboration with, Trinidad & Tobago Coalition of Service Industries (TTCSI) and Deutsche Gesellschaft f�r Internationale Zusammenarbeit (GIZ) GmbH hosted the 5th Management Consulting Symposium at the Hyatt Regency, Trinidad from September 10. The meeting of over 75 Cariforum management consultants and consulting firms from Europe, South America and Africa ended on September 12.
The importance of the management consulting industry to the Caribbean was laid clear by Chief Operating Officer, Anthony Bradshaw who stated: "Globally the management consulting industry is one of the fastest growing sectors and in a 2010 study commission by the agency, the global market for consulting services was expected to reach US350 billion" and thus is a priority sector for the agency.
"Management consulting can be considered to be high value added industry with a heavy export orientation, which has the potential to make a significant contribution to address [the] needs of the regional market, which provides many opportunities for our service providers" said Senator Vasant Bharath, Minister of Trade, Industry and Investment.
At the opening ceremony dignitaries expressed their gratitude toward Caribbean Export for taking the initiative to organise such an important meeting of management consultants as it is viewed as "part of a wider Aid for Trade programme to assist the private sector in the Caribbean to take advantage of the Cariforum - EU Economic Partnership Agreement" according to Daniela Tramacere, Chargee d'Affaires, Delegation of the European Union to T&T.
Tramacere also encouraged Caribbean management consultants to take advantage of the opportunities published on the Europeaid webpage in view of the EU being the biggest development cooperation donor in the world.
This 5th Management Consulting Symposium under the theme Strategic Alliances for Development the symposium engaged regional and international experts to bring renewed focus to establishing strategic alliances and generating opportunities for Cariforum management consulting firms to exploit the Cariforum-EU Economic Partnership Agreement (EPA) and those in the emerging markets.
This key topic for discussion by a forum of over 75 Cariforum management consultants was the strategy required for increasing scope, export competitiveness and economies of scale.
A major activity on the three day agenda was the series of business to business matchmaking sessions with EU consulting firms facilitated by Caribbean Export in order to generate business and thus increase the penetration of the EU market by CARIFORUM firms. This was a highly successful facet of the 4th meeting with a number of consulting firm reporting positive partnerships and successful bids as a result.
"Our firm has been able to partner with seven of the Cariforum consultants/consulting firm present at the symposium on proposals, three of which were successful bids," said Pernille Fischer Boulter, CITP, Kisserup International Trade Roots Inc. & Kisserup Europe.Thus, management consulting can provide many opportunities for co-operation between consulting firms in Cariforum, Europe and globally.
"The German Government supports this co-operation as it is a centrepiece for the EPA between Cariforum and the EU. Trade and development are two sides of the same coin, and strengthening business co-operation can make a substantial contribution to a better future for the Caribbean" said Ullrich Kinne, Charge d'Affaires, of the German Embassy in Port of Spain.