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Business Profile
Economy: St Lucia’s economy still relies heavily on agriculture but has broadened during the last 15 years. Light industry has been a key part of this process: the establishment of export processing zones and the successful attraction of foreign investment have created a healthy sector producing plastic, textiles and industrial gases and assembling electronic components. There is also a significant construction industry. The main agricultural exports are bananas, coconuts and cocoa. The decline of banana exports – especially in the wake of the adverse World Trade Organisation ruling on preferential Caribbean access to traditional European markets – has lately been a particular cause of concern and was largely responsible for the one per cent contraction of the economy in both 1997 and 1998. The Government is focusing its efforts on further diversification, principally directed towards the creation of a service sector based on tourism and financial services. It has also decided to privatise the bulk of state-owned enterprises. St Lucia is a member of the regional trading bloc, CARICOM, and the region’s principal political co-operative grouping, the Organisation of Eastern Caribbean States. The USA and the UK are the main trading partners, the USA for imports and the UK for exports.
Business: Short- or long-sleeved shirt and tie or a safari suit are suitable for most business visits. Office hours: Mon-Fri 0800-1630, Sat 0830-1230.
Commercial Information: The following organisation can offer advice: St Lucia Chamber of Commerce, Industry and Agriculture, PO Box 482, Vide Bouteille, Castries (tel: 452 3165; fax: 453 6907; e-mail: info@stluciachamber.org; website: www.stluciachamber.org).
Conferences/Conventions: A number of hotels offer conference and back-up facilities, with seating for up to 200 persons. St Lucia Tourist Board publishes a brochure with details. For further information, contact Solar Tours and Travel, 20 Bridge Street, PO Box 1519, Castries (tel: 452 5898; fax: 452 5428; e-mail: solartours@candw.lc; website: www.solartoursandtravel.com).
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