BUSINESS MONDAY: BIG BLOW
FOR the second year running, BMEX, the flagship exhibition of the Barbados Manufacturers’ Association (BMA), has not taken place.
The exhibition, which usually runs for three days culminating on Whit Monday, is one of the several casualties of COVID-19, the pandemic which has disrupted economic and other activities in Barbados and across the world.
With domestic exports still raking in millions of dollars, the cancellation of the event is a big blow to local manufacturers, the economy, exporters and some service providers who find the programme useful in showcasing and promoting their goods and services.
Last year, Barbados’ manufacturing exporters earned for the country almost $450 million in domestic exports and a further $241.0 million in re-exports. This was at at a time when the country went on a borrowing spree to rebuild the island’s foreign reserves.
So far this year, exports netted some $100 million and indications are that this number will continue to increase.
Key markets for these items are Trinidad and Tobago, Guyana, some OECS countries, and the USA.
BMEX is also a big hit with Barbadians, who would have thronged the Lloyd Erskine Sandiford Centre to view the wide range of exhibits, which add value to Barbados’ domestic production and the export thrust.
Today being a bank holiday would normally be a good day for patrons to throng the Centre.
Business Monday canvassed the ideas of some Barbadians, who said they usually look forward to attending BMEX. They however regret the show has not come off because of COVID, similar to AgroFest which is usually held in February each year.
Food and beverages, clothing, furniture, chemicals, agricultural-based products, construction materials, oil-based products and technology-based items, are several of the products displayed annually at BMEX.
Some financial institutions, in particular those that support the industry and small business, and government agencies also participate in BMEX.
The exhibition serves as well as a nurturing ground for a number of young entrepreneurs and small businesses showcasing everything from wines and beverages.
Apart from the BMA, the exhibition, which has also been attracting regional participation including buyers, benefits from input coming from the Barbados Investment and Development Corporation.
Melissa Williams has told Business Monday that she usually looks forward to BMEX, which was conceptualised as far back as the 1970s.
She said that hopefully once COVID clears up, the organisers will get back to work in holding the exhibition while making it bigger and better and bringing a fresh look to it.