CARIBBEAN-Caribbean SMEs were urged to take advantage of the incentive for the Brazil forum.

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WASHINGTON, CMC—The Inter American Development Bank (IDB) on Friday said it will offer travel and accommodation benefits to up to 200 small and medium enterprises (SMEs) in the food and beverage sector in its 26 member countries, including those in the Caribbean, to attend a business forum in Brazil in June.

The LAC Flavors is regarded as the primary business forum for the food and beverage industry in Latin America and the Caribbean (LAAC) and will take place on June 5 and 6.

The IDB said that the event, organized in collaboration with ApexBrasil, the Brazilian government’s export promotion agency, is designed to foster matchmaking opportunities between SMEs from Latin America and the Caribbean and global buyers to bolster the region’s economy through trade and business opportunities.

It said that in addition to matchmaking sessions, LAC Flavors 2024 will offer workshops and seminars on sustainable sourcing, food tech, certifications, e-commerce, negotiation techniques, and sustainable packaging.

A special session with local and international world-renowned chefs will explore the gastronomic treasures of Amazonian ingredients.

The IDB is organizing the 12th edition of the event through its platform ConnectAmericas, the first business-oriented social network in the Americas. It will showcase culinary innovation, traditional flavors, and various innovative food and beverage products across the region, focusing on Amazon’s offerings.

The IDB said it is working with ApexBrasil to prepare the SMEs before their business rounds and identify supplier companies, international buyers, and partner institutions.

The event is expected to attract around 500 participants, including international buyers, suppliers from Latin America and the Caribbean, and representatives from the region’s trade and investment promotion agencies.

“The IDB will offer travel and accommodation benefits to up to 200 SMEs in the food and beverage sector from the 26 IDB member countries who meet the participation criteria for the forum. Out of these, 100 Brazilian SMEs will receive the same benefits through the collaboration between the IDB and ApexBrasil.”

The IDB said to qualify for these incentives, supplier companies must register and meet specific criteria, including being an SME from one of the IDB’s borrowing countries, having experience in exporting food and beverages, and possessing internationally recognized quality certifications.

The registration deadline for participants interested in obtaining these incentives is April 15. Registration will remain open until Friday, May 31, for those SMEs who can cover travel and accommodation expenses.

The IDB said LAC Flavors has facilitated over 23,000 one-on-one business meetings, generating over a billion US dollars in closed and prospective deals.

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