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OAS, US Gov't partner on developing small businesses in the region

Published:Sunday | February 26, 2012 | 2:08 AM

The Organization of American States (OAS) and the United States Government have launched a project to establish small business development centres in five Caribbean countries.

The OAS says the centres will seek to improve the competitiveness of small businesses in Barbados, Belize, Jamaica, Dominica and St Lucia.

OAS Secretary General José Miguel Insulza says micro, small and medium sized enterprises (MSMEs) are critical to Caribbean and Latin American countries, as they account for 70 per cent of all jobs and 50 per cent of GDP in the region.

Mr Insulza says with the right support and a structured framework, MSMEs can offer numerous opportunities for increased prosperity and poverty alleviation throughout the region.