New Wave Marketing: Model for export growth in the Caribbean

BAVINA SOOKDEO

IN the competitive world of manufacturing and exports, New Wave Marketing Ltd exemplifies the potential of regional and international trade missions.

Under the leadership of Emil Ramkissoon, who also serves as vice president of the Trinidad and Tobago Manufacturers’ Association (TTMA) and vice-chair of its Export Marketing Committee, New Wave Marketing has expanded its reach through strategic participation in trade missions across the region and beyond.

Founded in 1983, the company has grown from humble beginnings in the hardware industry to become a leading manufacturer of PVC pipes and fittings in the Caribbean, with export markets throughout the region.

The company supplies high-quality PVC pipes, fittings and waterworks items such as hydrants, valves and sanitary ware.

The company’s products adhere to international standards such as those of the American Society for Testing and Materials (ASTM) and British and European Standards /BS EN, ensuring they are fit for global sales.

New Wave Marketing, with ISO 9001:2015 certification, is not only committed to quality but also to continuous improvement through innovation and technology.

This dedication to excellence has made the company a leader in its industry, setting it apart from competitors.

"Our company stays innovative by implementing technology, investing in Digital 4.0 and training staff," Ramkissoon said.

This forward-thinking approach, he noted, is further supported by the TTMA, which provides various training programmes in collaboration with UWI-ROYTEC. These programmes are designed to enhance factory operations, export initiatives and administrative and IT functions, ensuring New Wave Marketing remains at the forefront of industry developments.

"We (at the TTMA) encourage our members to access our webinars and seminars provided throughout the year that will boost their export capacity, including forex financing, cyber security, how to deal with trade barriers and trading in specific countries, and shipping and logistics of LCL and full containers," Ramkissoon said.

In response to the economic challenges posed by the covid19 pandemic, the Government allocated $50 million in 2021 to stimulate and strengthen economic growth through overseas market development and export promotion.

The allocation supported the development of the Export Booster Initiative (EBI) by the Ministry of Trade and Industry, in collaboration with ExporTT (now amalgamated into the TT Trade and Investment Promotion Agency Ltd) and the TTMA. This initiative aims to double the value of manufactured goods exports from $2.7 billion in 2019 to $5.4 billion by 2025 through a series of 16 initiatives grouped under three strategic areas – export promotion, capacity building and institutional strengthening.

Since the inception of the EBI, the trade ministry has held approximately 39 trade missions and trade shows across various regions, including the Caribbean, North America, Latin America and Africa, in missions to countries such as Panama, Cuba, Jamaica, Curaçao and the US, among others.

In 2024, TT participated in ten trade missions and six trade shows, benefiting over 100 companies by providing opportunities to showcase their products, engage in business-to-business (B2B) meetings and explore new business relationships.

So what exactly sparked his interest in participating in the trade missions?

"TTMA launched its manufacturing strategy in 2020, which piqued my interest. In the strategy, the association highlighted the means in which the goal of doubling the export value of the non-energy locally manufactured goods by 2025. One such method was an increase in trade missions and a focus on trade agreements. I knew by being part of this framework, the potential to expand New Wave Marketing’s export market share would increase," Ramkissoon said.

Since 2022, the company has participated in numerous missions organised by the TTMA, covering markets in Guyana, Jamaica, Suriname, Belize and the Bahamas, among others.

This year it even ventured beyond the region, with missions to Ghana and Canada, marking its foray into extra-regional markets.

Ramkissoon’s involvement in the TTMA has been instrumental in shaping these trade missions too.

"As the VP of TTMA and vice-chair of the Export Marketing Committee, we take great pride in the planning and execution of our scheduled trade missions throughout every year," he said.

These missions are designed to take advantage of trade agreements, such as the Caricom treaty and key agreements with the Dominican Republic, which have been significant highlights for the company.

The EBI – the collaborative strategic effort launched in 2020 – has also been a driving force behind New Wave Marketing’s participation in trade missions, as the initiative’s aim, to double the export value of non-energy locally-manufactured goods by 2025, is a goal that resonates with Ramkissoon.

"I knew by being part of this framework, the potential to expand New Wave Marketing’s export market share would increase," he said.

New Wave Marketing’s participation has already yielded significant results. The company has secured matches expanding its market reach in Guyana, Grenada and Antigua.

But Ramkissoon said the success of a trade mission goes beyond the initial trip.

"The mission is just the actual start of the process: you have to work with the information gained on the mission, and the secret ingredient is persistent follow-up with potential matches and (to) offer them that custom experience from your company."

The structured approach to these missions, though, from pre-planning discussions to B2B meetings and networking activities, has been key to their success.

The Trade Ministry, along with ExporTT, has been pivotal in supporting local companies like New Wave Marketing with their trade mission activities. The ministry provided export revenue-generated data on specific markets, helping the company strategise its annual schedule.

Additionally, the ministry’s support for the Trade and Investment Convention, the TTMA’s flagship event, has further bolstered the company’s efforts to expand its export market share.

ExporTT’s Airfare Assistance Grant and other support mechanisms have also been beneficial, particularly for smaller companies. These grants help offset the cost of participation in trade missions, making them more accessible to small and medium-sized enterprises (SMEs).

"With sponsorships from various entities and collaborations with different stakeholders, the support mechanisms of these trade missions are genuinely unique," Ramkissoon said.

As New Wave Marketing continues to grow, Ramkissoon is optimistic about the future of trade missions. He looks forward to exploring new markets and collaborating with key agencies to schedule missions in these areas.

For businesses considering participation in trade missions, he offers strong encouragement: "I recommend that any manufacturer looking to get their feet wet in exports and eager to gain their foreign exchange currency start looking at our trade mission calendar for 2025 when it becomes available.

"After thoroughly assessing the destinations, place-specific market research is conducted on the applicability of the product or products they are looking to export and ensure they meet the requirements of that particular market."

ExporTT Ltd offers seminars on specific markets, labelling and packaging requirements, and grants funding facilities for product and testing that aid with making packaging and products eligible for market entry. It also offers aid to companies with funding to pitch their business to become centred on the world stage, such as shipping of samples, website development, e-commerce capabilities, trade-show attendance and brand registration.

The level of service offered by a TTMA-led mission is exceptional, from the planning to execution stages.

"I highly recommend that interested companies participate and see how your business can grow and expand as you understand new markets via trade missions," he said.