Hochul announces plans to establish Caribbean Trade Office

New York Gov. Kathy Hochul addresses pre-parade breakfast at the Lincoln Terrace Court in Brooklyn.
New York Gov. Kathy Hochul addresses pre-parade breakfast at the Lincoln Terrace Court in Brooklyn.
Photo by Nelson A. King

New York Gov. Kathy Hochul has announced that New York State will establish a Caribbean trade office to support and encourage new economic opportunities for New York businesses.

In making the announcement at the West Indian American Day Carnival’s pre-parade breakfast, at the Lincoln Terrace Court in Brooklyn, Hochul said this new foreign office will assist New York State companies with international sales and exporting their products and services to the Caribbean region.

“Today, we are taking important steps to expand trade opportunities for New York State businesses in the Caribbean,” the governor said.

“This vibrant commercial region will help New York companies broaden and develop new partnerships, as we begin a new and exciting chapter in our economic development relationship with this market,” she added.

Hope Knight, the Empire State Development president and chief executive officer said the new Global NY office in the Caribbean “will help New York State businesses realize their full potential in accessing new international markets for their goods and services.

“Expanding international export opportunities supports business growth that in turn boosts the economy and creates more good-paying jobs for New Yorkers,” she said.

Hochul said the Caribbean is a growing market for New York State businesses and communities, stating that New York is expanding its network of global office coverage to meet the additional demand.

The governor said qualifying New York State businesses interested in exporting can leverage New York State’s foreign offices for customized market intelligence and for assistance identifying potential sales partners or distributors in select countries.

She said the new office will be established through Empire State Development’s Global NY division, which helps New York businesses launch or expand their presence in the global marketplace and promotes access to international trade opportunities and resources.

Other foreign offices include Africa, Canada, China, Europe, India, Israel, Mexico and South America, the governor said.

She said Global NY, a division of Empire State Development, offers financial and technical assistance that can offset the costs of exporting for New York businesses and organizations looking to connect to the rest of the world.

Available support includes grants and loans to help qualifying small and medium-sized businesses looking to start or increase their global exports and non-profit organizations that provide export assistance and trade education to New York State companies, Hochul said.

For more information, please visit www.esd.ny.gov/global-ny-export-assistance.

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