OAS countries and Light Years IP explore opportunities to increase export income in the Caribbean through IP-based business strategies

WASHINGTON, DC – Light Years IP has been commissioned by the Department of Trade and Tourism of the Organization of American States (OAS), funded through the Canadian International Development Agency (CIDA), to study a variety of Caribbean products with potential for increased export income.

Given that there are a number of distinctive export products from Caribbean countries, the growing demand among consumers for products with a unique story and history means that there are many opportunities for Caribbean stakeholders to capture a larger share of retail prices earned for their products.

This study is the foundation of the Caribbean Intellectual Property (IP) Export Project developed by the Department of Trade and Tourism of the OAS and Light Years IP in collaboration with the Caribbean Export Development Agency, the Caribbean Association of Industry and Commerce (CAIC), and other regional stakeholders. Light Years IP is currently carrying out a “Scoping” study on a variety of distinctive Caribbean products that are sold at, or have the potential to be sold at, premium retail prices in developed markets. Producers of these products are not gaining from the high retail price their products, despite the fact that the distinctiveness originates in their countries.

The aim of the study is to determine in which products there are opportunities for Caribbean countries to increase their export income, including producer income, through applying strategies utilizing a variety of Intellectual Property based business tools. The study will also aim to get a preliminary idea of the scale or scope of these opportunities.

The benefits may accrue at the household, community and national levels. As poverty derives from insufficient and unpredictable income, stabilizing and increasing export prices will directly assist to reduce poverty for producers and exporters and in time, have wider indirect development effects.

This study is an outcome of a Scoping Study that Light Years IP published on products from Sub-Saharan Africa. It can be accessed at: www.lightyearsip.net/scopingstudy