Barbados Investment & Development Corporation

Manufacturing sector advised to continue collaborative efforts

Thursday, 28 May 2009 15:38

The manufacturing sector in Barbados must continue its collaborative efforts to take advantage of the Economic Partnership Agreement (EPA), says Carl Greenidge, Senior Director of the Caribbean Regional Negotiation Machinery (CRNM).

Mr. Greenidge told local exporters that they need to build on the collaborative efforts already taking place in the industry by seeking mechanisms and funds to encourage training, exchange of information, and entry into third markets.

The Senior Director explained to the manufacturers participating in the session that safeguarding the fostering the region’s intellectual property, supporting innovations and industry for the private sector and the small and medium-sized enterprises was a major priority, as well as safe guarding markets from monopolistic practices by new EU entrants.

Recommendations were made that the Barbados Manufacturers Association (BMA) can look at products not now exported but which members can, with assistance, export.  Also that if all states would eventually participate in such agreements with the Europeans, signing early agreements can give the region a head-start over otherwise better endowed rivals in attracting investment.

Source: Barbados Advocate Business Monday 06/04/2009