Import & Export

The Ministry of Economic Development acknowledges the significance of exporting and has introduced The National Exports Strategy (NES) to foster a business-friendly environment in Curaçao. This five-year plan focuses on facilitating exports through “e-government for business” to help Curaçao develop into a more resilient and sustainable economy, particularly in the aftermath of the COVID-19 pandemic.

The NES, a transformative strategy, has identified seven (7) priority sectors with solid export potential to expand the national export performance: the blue economy, creative industries, education, financial services, information technology, medical and wellness tourism, and port and maritime services. The NES also includes various trade support functions to improve the business environment, such as skills and entrepreneurship, trade and investment promotion, trade information, and trade facilitation. These strategies, designed to revitalize Curaçao’s business environment across all economic sectors, will reduce business costs, promote entrepreneurship and innovation, and transform the country into an attractive destination for business investment.

We invite you to learn more about the NES. Click here for more information.

Step 1 – Preparing for Export – Getting READY for export

The export landscape has transformed significantly in recent years, driven by global influences, technological advancements, and evolving trade patterns. In this dynamic environment, small and medium-sized enterprises (SMEs) in Curaçao have survived and thrived, showcasing their remarkable adaptability. Equipped with the proper knowledge and tools, they continue to excel in the global export market.

Before you set sail on your export journey, it’s crucial to assess your readiness. This involves a thorough evaluation of the advantages, disadvantages, and internal and external factors that influence your export capabilities. This process empowers SMEs to take charge of their export ventures, actively participating and making well-informed decisions.

Discover your export readiness using this invaluable tool.

Exploring the Pros and Cons of Exporting

While export promoters may argue that the benefits of exporting outweigh the risks, it’s essential for SMEs to be fully aware of the potential challenges. By thoroughly understanding the advantages and disadvantages of exporting, and by using relevant examples, SMEs can prepare themselves to face any situation, thereby making more informed decisions.

Conducting a SWOT Analysis of Your Export Capability

It is essential to thoroughly analyze your company’s strengths, weaknesses, opportunities, and threats (SWOT) as it serves as a foundation for a strong export strategy. Your company’s strengths and weaknesses form the core of your operations, while opportunities and threats are external market factors. Your company’s strengths provide a competitive advantage, positioning it well in export markets. Conversely, weaknesses indicate areas for improvement, which is crucial for maintaining competitiveness. Opportunities represent external circumstances that can be leveraged for growth, while threats are external challenges that may hinder progress. Through a SWOT analysis, you can nurture strengths, address weaknesses, seize opportunities, and mitigate threats to enhance your export capabilities.

Critical considerations for a SWOT Analysis of your company:

• • Specificity and Realism: Provide precise and realistic assessments of your business’s strengths and weaknesses.
  • Future Orientation: Distinguish between your current position and your desired future trajectory.
  • Competitor Focus: Analyze your competitors with your mind to gauge relative strengths and weaknesses.
    For a detailed example of a SWOT analysis, click here.

Step 2 – Steady: Develop an Export Plan

Here’s a structured template for your export plan:

– Example of Export Plan for a Goods Company
– Example of Export Plan for a Services Company

Export Canvas

The Export Canvas is a variation of the existing Business Model Canvas created by Erik Briekhuijzen. It is a strategic management and business tool for companies operating internationally. The canvas helps businesses describe, design, challenge, brainstorm, and pivot a business model.

The Export Canvas (template in Papiamentu and English) simplifies your business model into digestible segments, enabling you to pinpoint areas for improvement and take immediate action. It also provides clear pathways for developing an innovative organizational strategy, making it a practical tool for your business.

Are you looking for personal guidance? Check out our list of certified Export Canvas coaches to help you navigate through the process.

Step 3 – GO! – Proceed with Exportation

Embarking on an exciting export journey requires careful planning and strategic thinking. Before leaping into a new export market, it is crucial to gain a thorough understanding of market dynamics, consumer behavior, and regulatory frameworks. Fortunately, numerous online resources and specialized agencies provide valuable market intelligence services for exporters.

Assessing your company’s financial readiness is a crucial step before expanding internationally. It’s not just about having enough funds, but also about ensuring the company’s stability during this transition. Consider exploring financial support options such as grants, loans, and assistance programs offered by various organizations and governmental bodies. This will help you make informed financial decisions and ensure a smooth transition.

Once you have a solid understanding of the target market dynamics and your company’s financial readiness, it’s time to start preparing for exporting. This involves addressing various aspects of your business, including operations, marketing, sales, legal, shipment, and payment. By detailing this process, we aim to give you a clear roadmap that will help you manage your time and resources effectively.

Exporting goods involves careful planning and compliance with various regulations and procedures. Our Export Checklist for Goods covers everything you need to know to ensure a successful and hassle-free experience when exporting your goods to international markets. Let our checklist guide you through every step of the way and get peace of mind knowing that you’re following the correct procedures and regulations.

It’s important to note that the General Export Procedures provided are for informational purposes only and may vary depending on the specific regulations and requirements of individual target countries and industries. Consulting with relevant authorities or legal experts is advisable for precise guidance tailored to your particular circumstances.

Successful Participation in Trade Fairs.

Visiting or organizing a trade show? Use these resources below to be better prepared and informed:

• • Guide for organizing successful individual exhibition participation. Please click here
  • ITC Basics for Organizing Trade Fairs
  • Presentation Successful Trade Fair Participation
  • Skyline Exhibit Trade show resources
    

Curaçao Economic Performance

Curaçao’s economic performance refers to the island’s financial state and activity. It is measured using GDP, employment rates, inflation, exports, and imports. A positive performance suggests growth, stability, and prosperity, while a negative performance may indicate contraction, instability, or recession. The Centrale Bank van Curaçao en Sint Maarten provides data on exports and imports, as well as information on the performance of the financial and economic sectors. Assessing economic performance is crucial for policymakers, investors, businesses, and citizens to understand the economy, make informed decisions, and formulate strategies for growth. You can stay updated on Curaçao’s economic performance by visiting the Centrale Bank van Curaçao en Sint Maarten website here.

Curaçao Export Performance

The Central Bureau of Statistics website provides easy access to statistical data collected and analyzed about Curaçao. You can stay updated on Curaçao’s export performance by visiting the Central Bureau of Statistics website here.

The Central Bureau of Statistics website provides easy access to statistical data collected and analyzed about Curaçao. You can stay updated on Curaçao’s export performance by visiting the Central Bureau of Statistics website here.

Unlock the potential of the European market! If you are considering exporting your product to Europe, conducting thorough market research is critical to your success. Take advantage of the numerous opportunities available in the European market with confidence. You can access this valuable resource by visiting this link and taking your business to the next level. Additionally, you can also learn more about conducting business in the EU at Business in the EU. With the right knowledge and support, you can confidently take your business to new heights.

Unlock your potential in the global market with ITC Market Access Tools. This powerful suite of market analysis instruments includes Trade Map, Market Access Map, and Export Potential Map. These tools can quickly help you identify profitable product markets and navigate complex regulations. By leveraging these tools, you can confidently plan your market entry and maximize your export opportunities. Take the first step towards global success today! For more information, please click here.

In order to protect and stimulate local production, an import embargo applies to a number of fruits and vegetables that are usually planted and harvested in large quantities locally.

However, to prevent scarcity, MEO can grant an import exemption to importers in order to be able to meet the demands of the local market. In order to grant this import exemption to importers, our Ministry rely on the advice of the Ministry of Health, Environment & Nature (GMN).
An application for exemption can be submitted to MEO at the Entrepreneurship Sector. This application must contain:

– A valid Chamber of Commerce extract,
– A business CRIB number and
– a valid establishment permit

After aforementioned documents have been submitted, you will receive the application form and further information to submit the application for the import of fruit and vegetables.

The processing of an application for the import of fruit and vegetables takes two (2) workdays, positive advice from GMN and stamps worth NAfl. 30,- in order to ultimately receive the import exemption.

You can download the application form for an exemption request in the Document tab of our portal. Once completed, the form can me submitted by e-amil at [email protected]

Arrangement between Curaçao & Aruba

The Government of Curaçao promotes, through this agreement, the development of the export of locally produced products and services. The focus group is local companies that already export or have the aspiration to export their products or services.

Fundamental Requirements for a Certificate of Origin Declaration

All products must abide by the rules of origin for any arrangement. In this regard, let’s delve into the fundamental requirements that must be met to obtain a Certificate of Origin Declaration under these arrangements. To better understand, let us illustrate with examples:

1. 1. List of Raw Materials: A comprehensive list of all raw materials must be provided; for example, if a company produces clothing for export, the list should include fabrics, buttons, and zippers.
   2. Country of Origin for Raw Materials: One key requirement for obtaining a Certificate of Origin Declaration is to accurately document the country of origin for each raw material. For instance, if a clothing manufacturer sources fabrics from China, buttons from Italy, and zippers from the United States, each should be clearly identified.
   3. Purchase Price of Raw Materials: The purchase price of each raw material must be recorded. For example, if the fabric costs $5 per meter, buttons cost $0.50 each, and zippers cost $1 each, these prices should be documented.
   4. Description of Packaging Material: A detailed description of the packaging materials used must be provided. For example, if the company uses cardboard boxes and plastic wrapping for packaging, these materials should be described.
   5. Country of Origin of Packaging Material: The country of origin for the packaging materials must be indicated. If the cardboard boxes are manufactured domestically in Curaçao but the plastic wrapping is imported from China, this should be specified.
   6. Purchase Price of Packaging Material: The purchase price of the packaging materials must be documented. If the cardboard boxes cost $1 each and the plastic wrapping costs $0.50 per meter, these prices should be included.
   7. Customs Coding for Raw and Packaging Materials: Customs coding for both raw and packaging materials must be provided to ensure accurate classification for customs purposes.
   8. Proof of Registration with KvK: Confirmation of registration with the Chamber of Commerce (KvK) should be provided to demonstrate the company’s legitimacy and compliance with local regulations.
   9. Business License: A valid business license must be furnished as proof of authorization to engage in commercial activities.
      Providing a detailed description of the production process is a significant step in understanding the product’s origin and its compliance with the rules of origin. This description should outline each step involved in converting raw materials into the final product.
   10. Customs Coding of Final Product: The customs coding for the final product, known as the HS commodity code, must be specified to facilitate accurate classification during export.
   11. Ex-factory Price of Final Product: The ex-factory price of the final product, which is the price at which the product leaves the manufacturing facility, must be stated.
   12. Calculation of Added Value: The added value of the product to be exported must be calculated, ensuring compliance with the 35% maximum added value requirement stipulated by the CBI regulations. For example, if the total cost of raw materials and production expenses amounts to $70, and the final product is sold for $100, the added value would be $30, satisfying the requirement.

It is crucial to note that three rules apply to selecting a product’s origin: the Value-added rule, Specific operation, and change in tariff classification. Non-compliance with these rules could lead to exporting products without preferential treatment in the importing country. Additionally, when exporting, the importing country may impose additional requirements such as quality standards, shelf-life regulations, safety measures, and compliance with international agreements like the CITES convention. In such cases, seeking advice from the Ministry of Economic Development (MEO) is not just advisable, but necessary to ensure compliance.