Local manufacturers profited from one-day symposium
LOCAL MANUFACTURERS IN ST KITTS RECENTLY BENEFITTED FROM A ONE-DAY SYMPOSIUM organised by the Ministry of International Trade, Industry, Commerce, and Consumer Affairs held under the theme, ‘Opportunities for Business Growth through Better Supply-Chain Management’.
Coordinator for Trade and Business Development within the Ministry of International Trade, Irvine Daniel told www.sknnewssource.com, exclusively that the symposium which attracted some 40 participants focused on informing and educating small manufacturers and agro-processors, on resources and procurement procedures, shipping, and landing of imports with the overall goal of increasing their competitiveness.
“We did some work with the Caribbean Export Development Agency last year when we found that many of the businesses were having a hard time sourcing input. Based on that we recognize that many were having a hard time sourcing the inputs, which meant that their products were not competitive in the local market and by extension they would not be able to be competitive in the export market,” Daniel said.
He disclosed that to better assist the businesses, they design a symposium that will help them to better source their inputs at more competitive rates.
“The symposium is fixed into three sections, with three panel discussions. The first panel discussed issues relating to ‘Sustainable Procurement to Enhance Competitiveness’.
It covered resources and tools for sourcing products and services including considerations of cost, lead time, quality, quantity, and social and environmental issues. Panelists included the Caribbean Export Development Agency, the St. Kitts and Nevis Bureau of Standards and international private sector procurement specialists.
The discussion was interactive to help local entrepreneurs get a better sense of where to source items internationally, how to negotiate with international suppliers and what other considerations should be made bearing in mind the firm “GEP Worldwide is a company that works with Fortune 500 brands such as NIKE, Walmart,” Daniel explained.
He said they recognised the depth of marriage absent in the local market, and as such, the symposium generated the level of knowledge and information greatly needed to sharpen participants.
In the run-up to the symposium, Daniel to this news outfit, “we are hoping to equip our small manufacturers, our agro-processors to better compete in the global market. We realise if your input is not competitive your end products can never be competitive. So, especially after COVID, we saw a rise in the cost of imports for local agro-processors.”
“We currently have many agro-processors that are…not able to access bottles to make things like hot sauce and green seasoning and honey. While they have the materials, they do not have the packaging. When we consulted with Caribbean export, for example, we recognise that it was not just a local problem but a regional problem,” he explained.
He stressed that managing the cost of inputs through the techniques shared will allow more competitive prices for the end products.
He said participants in the panel ‘Shipping Options and Challenges’ which included shipping companies and brokers considered options and considerations for commercial grade shipping as alternatives to consumer shipping, including modes of shipment, allowable and non-allowable items, and logistics planning to reduce cost and increase reliability.
Under the theme ‘Landing procedures and Processes’ participants from the public sector and including the Customs Department, the Department of International Trade, and the Department of Industry & Commerce, examined port procedures, taxes, and incentives.
The impact of Caricom and other treaties on taxes was also on the day’s agenda.
