Niche markets the way out for Barbados
By Andre Petite | Sun, July 08, 2012 - 12:01 AM
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The Trinidadians have a major manufacturing sector much wider than Barbados’ and always strive to be the best in that area throughout the region.
There is a serious paradigm shift in this country, and the people need to wake up and smell the coffee. If we don’t, we will be sailing on a ship that will be running aground in the near future.
This country has to look at the manufacturing of goods and boosting exports to gain power and control. If not, the Trinidadians will be in the areas which Barbados overlooks. The Trinis will attack with full force.
To compete with the Trinis on a large scale, we have to look at expanding and creating niche markets in destinations other than the Caribbean. We in Barbados have some really great products that some places in the world would die for.
There will always be a “war” between Barbados and Trinidad in terms of business, for Barbados is partly owned by Trinidad, if you look at how many businesses and banks are owned by it.
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- Posted by Elke Hassell 10 months, 2 weeks ago
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The irony of it all. Laid back Barbados, as usual 20 years behind, relying barely on Tourism and put all their eggs in one basket. Instead of building all those fancy Condominiums concentrate on some Food Production in this country coupled with a Cannery, your only other asset here is your Land, start using it and get productive. Nobody is taking anything serious here. The cotton industry, lots of talk no actions. The Private Sector with the Millions to spend ain't interested in the long term welfare of this country, they have all the means and power to invest in these kind of industries, but instead building private marinas and Golf Courses that are hardly being used! While Sea Cotton could be produced here right to the end product, without having to sell the raw product to China or Japan. There is no vision in this Island, and the bureaucracy does not help in the least.
Comment Link- Posted by Hugo Todd 10 months, 2 weeks ago
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Well said Mr. Petite. Barbados has to find niche markets that would make us attractive. We cannot necessarily compete with T&T on an equal footing, they have petro dollars to boost their economy. The leadership have to be creative and find a way to lure manufacturing to the island to create jobs and generate income. Maybe something like biotech manufacturing could be the answer. In any event Barbados has to find a way to lure manufacturers to bring business to the island to create jobs for locals.
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