We are your lighthouse on investment in Central America |
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Different shapes and forms of Covid keep slowing down business and economy expansion. Traveling to other parts of the world is made difficult if not impossible and we keep replacing business meetings in presence by teleworking, working from home or by videoconference sessions.
Let's hope that 2022 will bring the relief we are all so dearly longing for.
However, notwithstanding everything, the pandemic made us question the reason of existence of Euracen and its modus operandi. First, we realized that to keep up successfully with the economic reality, we had to lead the Chamber into the digital age. Second, it became clear that as a consequence anyone can now do business worldwide. Thirdly, in your interest, we decided to turn the word "Commerce" in our name into a verb by sharing with you real new business opportunities, based on our "Reversed Thinking" business model.
In addition, we count on accelerating the possibilities offered by the digitalization of our communication with you and offer you e.g. the possibility to make your company better known via video clips on our upscaled website and via our digital distribution network. Finally, we want you to become fully aware of our commitment to the Connects business platform and the added value and business opportunities it offers also to the business communities on the other side of the Ocean. To date, we must admit that the platform has not been considered at its true value.
This new way of thinking business reflects our direct cooperation with the Ambassadors and staff of the eight countries we do represent. Indeed, thanks to Euracen, we can save you precious time and money while screening foreign markets in Belize, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua and Panama.
All it takes is to be, or become a member of Euracen by paying your annual membership fee and let us do the work.
Wish you all a safe and interesting 2022.
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PRESIDENT |
Erwin De Weerdt |
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Looking for real new business opportunities in 2022? |
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Euracen opens a window on new market opportunities in Central America!
We anticipate that you joined Euracen because you had a personal or a main business interest in the Central American region. Perhaps you hoped that the Chamber would help you in opening doors to those markets? In 2022, we want to dramatically increase our commitments towards you and proactively engage in the expansion of your business abroad, when and where possible. To the extent possible, we want to save you time and money in 360° research which in the end do not always match your interests and capabilities.
How do we plan to address that?
Thanks to our outstanding relationship with our Ambassadors and their staff in Brussels, we reached an gentlemen's agreement whereby we are granted early bird access to information and documentation about both public and private projects in their home country that could be of interest to you. We will be looking for well-defined, detailed and documented projects for which we want to know who is awarding the project. This is of the utmost importance because we want to put you in direct contact with the owner and the decision makers behind the project. Depending on the nature and size of the project, we want to look for interested and capable "matching partners" in Belgium or Luxembourg. Equally important, as a Chamber, we would like to help identifying possible sources of financing or investment.
But first we need from you…
First, we will send you shortly a member satisfaction survey in which we invite you to tell us what you expect from Euracen as a Chamber of Commerce and to what extent we are meeting these criteria, or not.
Second, to entrepreneurs amongst you, we will issue a special questionnaire requesting all relevant corporate information and in which we ask you to indicate whether your interest goes to the Central American region as a whole or to a specific country in particular, and in which sector of activity. With this information we want to draw up an accurate company profile that would allow us to recommend matching partners to them.
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In conclusion
Based on this information, and in cooperation with the three regional agencies, the Foreign Trade Agency and FPS Economy, we want identify companies in Belgium or Luxemburg that we can recommend as possible matching partners to project owners because of their activities and interest in the Central American region. Our ultimate aim being to initiate a dialogue whereby we guarantee from the beginning face to face contacts with the real decision-makers.
For more information, please do not hesitate to get in touch with Erwin De Weerdt, Euracen President.
M +32 475 443 150 & @ edw@aviafix.eu)
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INVEST IN CENTRAL AMERICA ? |
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Innovative private sectors can foster growth in the Region
(courtesy Martin Spicer)
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Workers in an industry in Honduras. Photo courtesy: Honduran Manufacturers Association (2020).
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Every year, hundreds of thousands of Central Americans leave their countries to search for a better future. For generations, it seemed that the crisis has defied large-scale solutions, but there is growing momentum to address one of the root causes of poverty and mass migration: a lack of economic opportunity. We’ve seen several multinational companies accept the challenge to invest more in Central America, particularly the Northern countries, to create jobs and stoke economic growth, and many more are interested in contributing, driven by a current call to action made by the United states Administration
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WEEKLY BUSINESS OPPORTUNITIES |
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Below, please find a few examples of recent opportunities with a specific request and/or offer on the Connects platform. With the feedback from both our users and Chambers, we can conclude that specific buying or selling opportunities in the platform have the highest success rate. By posting a specific offer and/or request, it becomes easier for CONNECTS users to identify instantly the value and relevancy of the opportunity for them. Therefore, we advise all members to post concrete and detailed buying and/or selling opportunities. See examples hereafter.
Chile
UK
Belgium
“Buy” opportunities
- Company in Angola seeks Belgian pork
- Belgian company is looking for a strong experienced Web Security Engineer
- Chilean company manufacturer of office furniture is looking for suppliers of hardware for furniture manufacturing (wheels, rails, braces, plates, hinges, etc)
- Dutch company is looking for co-creators/subcontractors for the production of sheetmetal housing, cabinets and panels (serial production)
- Italian company is looking for suppliers of Colombian supreme coffee
- Polish company is requesting furniture and other furnishings under distribution services agreement
- Belgian commercial agent is looking for Fresh food products with long shelf-life or with innovative aspect to distribute
- Barbados company of solar heaters production is looking for exporters of aluminium sheets
- Leading manufacturer of concrete elements is looking for suppliers of raw materials necessary for the production of products and recipients
“Connect” opportunities
- A young and creative Brussels-based brewery is looking for distributors to get their craft beers around the world
- Nigerian company is looking for organic fertiliser
- BC Software are seeking new distributors to expand their international business in the supply of luxury spa linen, bathrobes, towels and slippers to hotels, spas and laundries
- At Beci their experts share a newsletter dedicated to HR news & cases in Belgium with their members. If you work in the field and are interested in receiving this publication click here (???)
- Belgian company helps you with a range of topics as typewriting letters, translations, manage agendas, update website, copywriting, ...
- A young and creative Brussels-based brewery is looking for distributors to get their craft beers around the world
- This Belgian company specialised in applying artificial intelligence is looking for a commercial agency or a license agreement
- English software company is seeking new distributors to expand their international business in the supply of luxury spa linen, bathrobes, towels and slippers to hotels, spas and laundries
- Webinar Thursday 22 April at 4 pm Bucharest time : Technology and Real Estate in the post-COVID world
“Sell” opportunities
- Colombian company offers its professional engineering and construction services in the oil, petrochemical, gas, power generation and everything related to the metal-mechanic industry
- Belgian company sells Interim virtual office set up in Brussels including online and telecoms connectivity, administrative services and meeting and events space
- Colombian company manufactures and commercializes promotional material, printed material, web pages and virtual shops, and makes stands for fairs
- Romanian company offers recruitment & selection services
- Israelian company offers an e-commerce solution for large-scale Food Retail chain firms (>100 stores), which requires improvement on their Out of Stock on shelf scenario and staff management
- Belgian company provides you with solutions for limestone, iron, … They supply and install water softening systems, filtration, reverse osmosis….
- Company looking for a reliable partner in UX research & design to audit, conceive, validate & improve its digital products (website, web/mobile apps, software)
- Colombian company manufactures and commercialises promotional material, printed material, web pages and virtual shops, and makes stands for fairs
Not sure how to use CONNECTS?
Want to use the platform but don't know how? Book a training session and we'll be glad to help you out. the platform will help you expand your network by connecting with both CONNECTS members and external companies.
Contact Karolina, Community Developer via karolina@tiao.world to schedule a free training session.
See also Connects on YouTube.
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We are proud to announce that BLCCA has granted Euracen accredited Chamber of Commerce status for the period 2022-2024
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CENTRAL AMERICAN ECONOMIC SNAPSHOT |
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GDP growth to ease in 2022
Economic growth in the region should ease next year amid a tougher base of comparison and as economic conditions normalize. That said, tighter labour markets and robust remittance inflows should continue to support household spending. The region’s low vaccination rate and new Covid-19 mutations pose downside risks.
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The economy remained upbeat in Q3, growing 15.2%, albeit coming in below Q2’s 26.6% expansion. The slowdown was due to a less favorable base effect and rising new Covid-19 cases that led to the imposition of a curfew in the period. The agricultural sector had the worst performance, slowing down dramatically. In addition, both the industrial and services sectors lost steam. Meanwhile, the labor market showed positive signs, as the latest survey put the unemployment rate at 9.2% in September, down from 11.2% in April, and 13.7% in the same month last year, boding well for spending. Turning to Q4, tourism remained high in October. That said, stubbornly high new Covid-19 cases from September onwards have forced the government to extend restrictive measures recently, with the nightly curfew now in place until 15 January, and bars and nightclubs remaining closed for the same period.
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Belize Economic Growth |
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GDP growth should slow in 2022, after an already soft recovery in 2021. The deceleration will likely be driven by a lower base effect. However, the key tourism sector, which has been severely damaged by the fallout from the pandemic, should gain steam as vaccination campaigns progress. A poor external debt position and weak government finances pose key risks to the outlook. FocusEconomics panelists forecast GDP to grow 5.8% in 2022, which is unchanged from the previous month’s forecast. For 2023, the panel sees the economy expanding 3.1%.
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Making business easier. Aggressive digitization speeds up registration and setup of a business in Belize
By Rubén Morales Iglesias
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Belize’s aggressive digitization is making it easier to register and set up a business in Belize said Lincoln Blake, Director of the Investment Policy and Compliance Unit at the Belize Investment Summit.
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COSTA RICA ECONOMIC OUTLOOK |
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Costa Rica Economic Growth |
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After GDP grew at the fastest rate in 23 years in Q2, high-frequency indicators hint at a continued recovery though the third quarter. Economic activity grew at a strong pace in July–September, gaining steam from Q2’s average amid a surge in the construction sector. Turning to Q4, growth in exports and imports remained solidly in double digits in October, hinting at robust demand at home and abroad. Moreover, thanks to a swift vaccination campaign and a dramatic fall in the number of new Covid-19 cases, authorities decided to further lift business restrictions starting from 1 December, following previous easing on 1 November: Bars, restaurants and other businesses can now operate without capacity limits as long as they have proof of vaccination from their customers.
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DOMINICAN REPUBLIC ECONOMIC OUTLOOK |
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Momentum appears strong in Q4, with economic growth remaining robust in October, despite higher infection rates and the introduction of Covid-19 passes for public venues. Activity is being supported in part by lower unemployment and high remittances—although a slowing U.S. recovery is weighing on remittance growth somewhat. In addition, investment and government consumption likely continue to be aided by low interest rates and an expansionary fiscal stance, respectively. Moreover, tourism is further driving the recovery, with October visitor arrivals notably higher than in the corresponding period of 2019. The recent announcement of USD 400 million of private investment in hotel developments should further boost the tourism sector ahead. In politics, the government’s October announcement of no tax hikes bodes well for short-term growth, albeit potentially undermining future debt sustainability.
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Dominican Republic Economic Growth |
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Growth should weaken next year on a tougher base effect and a normalization of remittance growth. That said, support should come from vaccination progress, lower inflation and unemployment, supportive fiscal policy and the tourism sector. The Omicron variant poses a significant downside risk given the country’s dependence on tourism. FocusEconomics panelists see the economy growing 5.1% in 2022, which is up 0.1 percentage points from last month’s forecast, and expanding 4.7% in 2023.
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EL SALVADOR ECONOMIC OUTLOOK |
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Economic growth will have slowed in the third quarter, albeit partly due to a less favorable base effect. The monthly economic activity index registered softer expansions on average in the quarter compared to Q2. While this hints at weaker momentum, solid growth in the commercial, transport, manufacturing, and mining and quarrying sectors nonetheless supported the economy in the period. Easing growth in merchandise imports in the third quarter also hints at cooling domestic demand, while a marked pickup in inflationary pressures and softer growth in remittances in the period point to slower growth in household consumption. Turning to the fourth quarter, remittances and goods imports growth gained steam in October, suggesting that activity firmed at the outset of the period.
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El Salvador Economic Growth |
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Economic growth should slow markedly next year amid a less supportive base effect, although domestic and external demand should still firm on the back of softer restrictive measures. The balance of risks remains skewed to the downside amid weakened fiscal metrics, and concerns over debt sustainability and macro stability. Our panelists see GDP expanding 2.7% in 2022, which is unchanged from last month’s forecast, and 2.3% in 2023.
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GUATEMALA ECONOMIC OUTLOOK |
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The economic recovery will have continued in the third quarter, although the pace of growth likely cooled somewhat. The monthly economic activity index remained well in expansionary territory on average in the quarter, but came down from Q2’s stellar pace of growth. This was partly due to a less supportive base effect. Meanwhile, the money supply grew at a slower speed, further hinting at more moderate growth in economic activity. More positively, cooling inflationary pressures, coupled with still-strong growth in remittances, bode well for household spending. Turning to Q4, remittances expanded solidly in October and inflation eased to a 15-month low in the same month, which should continue to aid household spending in the quarter. However, the country witnessed violent protests in October and November, which could take the edge off the recovery in the final stretch of the year.
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Guatemala Economic Growth |
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Economic growth is set to cool next year due to a less supportive base effect. However, domestic demand should still strengthen on the back of looser restrictive measures and strong remittance inflows. The outlook is clouded by political tensions and uncertainty over the course of the pandemic amid a low domestic vaccination rate. FocusEconomics panelists estimate the economy to grow 3.6% in 2022, which is down 0.1 percentage points from last month’s forecast, and to expand 3.3% in 2023.
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HONDURAS ECONOMIC OUTLOOK |
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Voters went to the polls on 28 November to elect a new president and legislature. Preliminary results show that Xiomara Castro of the left-wing Liberty and Refoundation Party took an early but sizable lead over her rival from the ruling right-wing National Party. This would imply a shift in policymaking towards the left, with Castro seeking to boost social spending and anti-corruption measures. Furthermore, a Castro administration would likely seek to rewrite the constitution through a referendum, and redirect foreign policy towards China instead of the U.S. Castro is set to inherit an economy that continued to recover in Q3, albeit at a softer pace amid a fading base effect. Economic activity growth cooled throughout the period, while softer growth in the money supply through August further suggests easing momentum. More positively, private-sector credit growth accelerated in the quarter.
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Honduras Economic Growth |
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Economic growth is forecast to ease next year, partly due to a less favorable base effect. That said, domestic and foreign demand should firm amid softer restrictions. Risks are tilted to the downside, however, due to lingering Covid-19 uncertainty and a low domestic vaccination rate. Moreover, a likely sizable shift in policy to the left further weighs on the outlook. FocusEconomics Consensus Forecast panelists see the economy expanding 4.0% in 2022, which is up 0.1 percentage points from last month’s forecast, and growing 3.6% in 2023.
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NICARAGUA ECONOMIC OUTLOOK |
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Available data for Q3 points to continued albeit more moderate growth. Economic activity expanded at a healthy pace in July–September, while both imports and exports registered double-digit growth and remittance inflows remained robust in the period. That said, following highly scrutinized general elections on 7 November, a complicated political panorama will likely weigh on the economy in Q4: The U.S., UK and Canada imposed sanctions on foreign investment, while the Central American Bank for Economic Integration suspended some investments and events in the country. Moreover, after a number of countries in the region failed to recognize the election results, President Daniel Ortega pulled the country out of the Organization of American States. Lastly, authorities recently unveiled their budget for 2022, which sees GDP growth at 3.2% next year, and a smaller deficit compared to this year’s projected figure.
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Nicaragua Economic Growth |
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In 2022, economic growth should temper as the favorable base effect subsides and economic stimulus programs in the U.S. reach their end, resulting in a slowdown across all sectors of the economy. A lagging domestic vaccine rollout, heightened political tensions and international backlash over this year’s election results dampen the outlook. FocusEconomics panelists see GDP expanding 2.3% in 2022, which is up 0.1 percentage points from last month’s forecast, and 2.2% in 2023.
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GDP growth likely lost some steam in Q3, due to a weaker base effect and the tightening of restrictions at the outset of the quarter, but momentum seemingly remained upbeat nonetheless. Economic activity grew at a slightly slower, albeit still-robust, pace, while additional data paints a similar picture, with fuel sales and new vehicle registrations clocking healthy increases. Moving to Q4, fuel sales and vehicle registrations remained high in October, boding well for domestic activity. In addition, both the volume of cargo and tolls at the canal increased in the same month, boding well for the transportation sector and bringing in valuable income to the country’s coffers. Meanwhile, a new law was enacted on 11 November to improve fiscal transparency. It also targets money laundering and the financing of terrorism in a bid to meet the requirements of the Financial Action Task Force (FATF).
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Panama Economic Growth |
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The economy should continue to expand healthily in 2022, albeit losing some momentum from this year’s rebound. The recovery should be driven by buoyant mining output. That said, GDP is not seen reaching pre-pandemic levels until 2023. Longer term, the G7’s Build Back Better World infrastructure project poses an upside risk. FocusEconomics Consensus Forecast panelists foresee the economy expanding 6.4% in 2022, which is unchanged from last month’s forecast. For 2023, the economy is seen growing 5.2%.
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How Belgium’s and Flanders’ air cargo industry is taking pole position |
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Talk about flying high… Last year, Belgium’s and Flanders’ air cargo industry transshipped around 1.63 million tons of air cargo. That’s more than comparable airports in the neighboring Netherlands, which together locked in at 1.58 million tons. According to air cargo expert and consultant Franz van Hessen from ACG-Europe, the success of the Belgian airports stems from a combination of factors, including digitalization and multimodal collaboration.
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Stowaway successfully reaches Miami from Guatemala City in American Airline flight’s landing gear compartment |
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Story by Aaron Humes
By hook or by crook, one man was determined to reach America, and did so successfully.
The Miami Herald reports that a stowaway got aboard and successfully reached Miami International Airport from Guatemala City on an American Airlines flight but was unable to evade authorities after being caught trying to hide in the landing gear compartment.
The U.S. Customs and Border Protection Agency said in a statement that the man is in a hospital and they had opened an investigation. “Persons are taking extreme risks when they try to conceal themselves in confined spaces such as an aircraft,” it also said. Flight 1182 from Guatemala City to Miami takes about 2 hours and 50 minutes and landed just after ten a.m. local time.
In a statement, American Airlines said, “American Airlines flight 1182 with service from Guatemala (GUA) to Miami (MIA), arriving at 10:06 a.m. local time was met by law enforcement due to a security issue. We are working with law enforcement in their investigation.”
Miami-Dade Police Department said it assisted CBP on its investigation. The airport and other flights were not affected by the stowaway’s discovery, according to city airport authorities. Other details are not presently known at this time.
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