On 27-28 November 2012, the Caribbean Association of Investment Promotion Agencies (CAIPA), in collaboration with Caribbean Export Development Agency (Caribbean Export), the CAIPA Secretariat, hosted the 2nd Annual General Assembly Conference of CAIPA in the Bahamas. The 2 day event entitled: “Strengthening our Foundation, Expanding our Reach” was geared towards the advancement of the regional integration movement; facilitating the networking of its members; engendering an exchange of information on regional best practices; developing the CAIPA work programme for 2013 and hosting the elections to the CAIPA Board of Directors and the regional Investment Promotion of the Year Awards.
The opening ceremony to the event was held under the distinguished patronage of the Rt. Hon. Perry Christie, M.P., Prime Minister of the Bahamas and was attended by Ministers of government in the Bahamas, the United Nations Conference on Trade and Development (UNCTAD), the World Bank, fDiMagazine, OCO Global (a site selection firm), ProNicaragua and regional investors. The heads of Agencies of the IPA members of CAIPA were also in attendance along with the CAIPA focal points.
The out-going President of CAIPA, Mr. Lestroy Samuel, who is also the Executive Director of the Antigua & Barbuda Investment Authority pointed to the important role that CAIPA can play in positioning the Caribbean for investment and in addressing the challenges that are common to the Investment Promotion Agencies (IPAs) across the Caribbean. He noted that, “…notwithstanding the significant challenges faced, with many IPAs seeing their budgets cut recently during the period of the worst financial crisis that has ever been experienced across the globe…” the IPAs within the Caribbean have done “remarkably well”. He further encouraged the IPAs to continue to work together noting that “We can accomplish more as a team than all our individual efforts could achieve if we are working alone”.