The Caribbean nations of Belize and Barbados are making a genuine attempt at regional integration for the purposes of a free-flow of goods and services.
Whenever the topic of a fully-functional Caribbean Single Market and Economy comes up, it is often met with skepticism, because there are always claims that one nation or another sets up artificial barriers to trade.
Well, the Ministry of Investment, Trade, and Commerce, through BELTRAIDE, has been working with its counterparts in Barbados, the Barbados Investment & Development Corporation. That partnership seeks to introduce goods and services from that country into the Belizean market, in the hopes that Belizean consumers will embrace the products from their Caribbean brethren.
Representatives from 10 Barbadian companies traveled to Belize for an expo in which their products were put on display today. The expo's opening ceremony happened this morning at the Biltmore Plaza Hotel, and they invited the press to find out what they have to offer. 7News attended, and here's what the facilitators had to say about the event:
Hon. Tracy Taegar-Panton - Minister of State, Investment, Trade & Commerce
"For some time, we have been talking about regional integration, we have been talking about really creating a single market and economy. Today is a mission Barbadian exporters, who are looking at doing business with their counterparts in Belize. And that is where I think that this bid for regionalization really starts when we're able to put business contacts together and promote Caribbean-made commodities in all our territories."
Paula Bourne - Manager, Export & Dev., Barbados Investment and Development Corp.
"We are all one Caribbean people, and we definitely feel a bond between us and all our Caribbean brothers. As part of CARICOM, we recognize that CARICOM is a major market in terms of trade. And so, Belize is one of the countries are focusing on in the Northern Caribbean, and we will also be doing some missions to the southern Caribbean as well. Belize is the first one that we have identified in the Northern Caribbean because we believe that within CARICOM, we need to enhance our trading relations."
Reporter
"Tell us about the companies represented here. What sort of products have they brought to demonstrate?"
Paula Bourne
"So, we have a company, COT Holdings it's called, and we recognize that like Barbados, we've recently introduced legislation to ban plastics, styrofoam and those types of products. So, we recognize that Belize is also doing that, and we've introduced an innovative product that is - it is an environmentally sustainable food container. That company is one of those that we expect will be able to introduce those products into Belize that would be beneficial. We have a number of sauces and condiment companies, and because of our shared history and pallet, we believe that some of those sauces and condiments will do well as well. We have some printing companies that are already doing business in Belize and are here to strengthen those linkages. There's a new one in the market, and hoping to enhance its business opportunities in Belize. In addition to that, we have 2 other service companies, one in software development, and the other is in business consulting. There are 10 companies in all."
Reporter
"The Government might think that this is a great idea that we start a trade relationship with our friends over from Barbados, but how do you convince the Belizeans to support?"
Hon. Tracey Taegar-Panton
"I think that once Belizeans are introduced to the high-quality products that are coming from Barbados, it will be very difficult for them not to buy our regional products. We promote, as you know, Belizean-made products, as best as we can. We have a limited array of commodities that are on our shelves, and I think we need to do more, not only as a country but as a region, to ensure that all our shelves, in every part of our country, has products that have the proud brand of being made in the Caribbean."
Paula Bourne
"As Minister very aptly said this morning, the dream is really to see Caribbean products as the primary products that are used throughout the Caribbean. So, we're not just here to look for opportunities to sell our products, but we recognize that we get a lot of raw materials from Belize as it stands. As a matter of fact, the trade balance between Barbados and Belize is in favor of Belize. And it could almost be a case of using some of the raw materials from Belize, producing those products in Barbados, and even re-introducing them in that finished form to the Belizean market."
Hon. Tracey Taegar-Panton
"Today, we're planting the seed, and we have to nurture that seed. You don't plant a seed and it bears right away. It has to be nurtured. The relationships need to be cemented. The commercial agreements need to be put in place, and it all starts today."
The expo continues tomorrow from 8 a.m to midday. The representatives of the Barbadian companies will visit Spanish Lookout on Thursday and leave on Friday. If anyone wants to set up a meeting with the companies, they can call 672-0848.
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