BMEX GETS UNDER WAY

Understanding the breadth of Barbados’ manufacturing sector is not only critical to being competitive, but is key to defining a vision for the sector that is both aspirational and attainable.

This is the belief of Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss, while observing that the vision for the sector must reflect the fact that Global Value Chains have become the chief means by which manufacturing activity is being carried out globally, with production activity being dispersed across borders, characterised by creativity, innovation and the use of Information Technology.

He was at the time addressing the opening ceremony of the Barbados Manufacturers’ Association (BMA) Barbados Manufacturers’ Exposition (BMEX) 2018 “Bajan Fuh Real”, which got under way at the Lloyd Erskine Sandiford Centre (LESC) yesterday.

“A sector that is enterprising, and highly skilled, providing opportunities for wealth creation, job creation and economic growth. It is envisioned that the sector will become one that is bold, innovative, knowledge-driven and export-focused; one that transcends traditional industries.

“Additionally, it will be one that competitively produces products that reflect our heritage and traditions as well as products that are attractive to domestic and international consumers; takes advantage of the strength of the Barbados brand and leverages its tradition of excellence; utilises innovative technology and undertakes collaborative research and development through strategic alliances; exhibits highly innovative and customer-focused management with highly skilled and creative work forces; and encourages high value-added businesses with strong brands,” he highlighted.

Attaining the vision

Moreover, Inniss explained that the national challenge for Barbados is to build a highly resilient and internationally competitive manufacturing sector that can generate annual export earnings in excess of $600 million.

He said to get there, the interested parties must play their strongest hand and work together to align policy and action and ensure implementation.

“Government must initiate actions that will ensure critical resources for innovation are made available and that there is continuity of policies and initiatives that are deemed effective,” he stressed.

“Such resources must be directed towards the priority sectors that we believe will show significant gains in the short to medium term. Basic industries like Furniture and Apparel have provided and continues to provide employment and livelihood for many Barbadians and there is much latent potential in both sectors. Efforts should be made to advance specific initiatives like cluster arrangements for production and R&D, and retail facilities for sale of high value branded goods.” (TL)