Industry Ministry To Advance Trade Sector

The Ministry of Industry, Investment and Commerce will be harnessing opportunities to advance the trade sector.

This was noted by Minister of Industry, Investment and Commerce, Hon. Audley haw, during his 2021/22 Sectoral Debate presentation in the House of Representatives on May 11.

“Several significant initiatives and programmes were mobilised to realign our strategic priorities to achieve growth,” he pointed out.

The initiatives include widening the export basket to include traditional and non-traditional export products, such as craft and nutraceuticals.

The industry will also focus on Northern Caribbean markets to achieve diversity, and will continue to coordinate Trade Facilitation measures to improve the business climate for local and international traders.

“The Ministry actively responded to drive export and trade for the Agriculture and Manufacturing MSMEs,” the Minister said.

Mr. Shaw pointed out that utilising virtual Business to Business (B2B) meeting platforms, the Ministry was able to engage with virtual buyers.

Meanwhile, he highlighted that the Enterprise Development for Export Growth Programme (Export Max), allowed for 30 per cent of companies to increase their 2020 export sales. The companies have expanded to new markets in Europe, North America, the Caribbean and Latin America.

“Commendably, a small company has grown to a medium enterprise with projected earnings of more than $240 million for 2021,” he said.

Export Max provides focused capacity building and market penetration support to exporting and export-ready firms.

Source: JIS