Shanghai World Expo 2010
|Location||Basseterre, St. Kitts|
|Date Approved||May 1, 2010|
|Amount Funded||EC $197,454.35|
With the movement away from the dependence on sugar which benefited from a protected market, St Kitts and Nevis needed to invest more and more into other exports. It has become necessary for countries to showcase their investment potential in periodic trade and cultural shows, but these ventures demand large cash outlays.
A grant of EC$197,454.34 from the Sugar Industry Diversification Foundation (SIDF) to the St. Kitts Investment Promotion Agency (SKIPA) made it possible for the Federation to participate in the World Expo 2010 in Shanghai, The People’s Republic of China. Thirteen CARICOM countries participated in the exposition, which ran for six months, from May to October.
The expo carried the theme “Better City, Better Life” and was an opportunity for the Federation to showcase its culture and heritage with the expectation of piquing the interests of both investors and visitors.
With the emphasis on services as the new engine of economic growth, it is crucial that St. Kitts and Nevis be promoted to the world as a trading partner with an attractive investment potential.
Economic and Social Benefits
- Improves revenue collection from international trade
- Opens possibilities for international investment
- Provides opportunities for export promotion, business networking and partnership
- Enhances the competitiveness of the Federation as a tourist destination.