MINISTER OF COMMERCE Senator Lynette Eastmond would like to see more functioning co-operatives in Barbados.

She said Government's focus was not only on credit unions but also on business co-operatives like those in agriculture, fisheries, in taxis.

"It has been a great desire of mine to see these co-operatives, and maybe new ones, become the strong and powerful organisations that they are now in the country. It probably requires more detailed study; it may very well be a cultural issue as to why [they don't exist].

"In Costa Rica you have large co-operatives involved in coffee, for example, and you know in the United States that there are very large co-operatives involved in agriculture, in fruits, etc. and they are very, very large and very powerful organisations.

"They give small businesses an opportunity to pool their resources so that they are able to access markets, be able to purchase items in bulk and be able to manage their businesses more effectively . . .," said Eastmond.

She was addressing the audience attending the Barbados Secondary Teachers' Co-operative Credit Union League's 40th anniversary dinner and award ceremony last weekend at Accra Beach Hotel, Rockley, Christ Church.

The minister, who also holds the Consumer Affairs and Business Development portfolios, also said she was aware that "a number of initiatives have been tried in the past that have not been as effective as they could have been" but there were "a couple of co-operatives that show signs of being very successful".

Competitive

She added: "We would therefore like to build on that because it is very important for us in Barbados as far as business is concerned to ensure that there are competitive.

"I believe that in terms of competitiveness, collaboration of some kind is going to be part of the solution whether it is in forming companies, partnerships, joint ventures – short term and long term – or through the co-operative movements.

"We've actually taken on board some additional hands through a consultancy to make sure that we go to the co-operatives and find out what their concerns are and try to provide the support, also there is an initiative to provide technical assistance to them . . . . to ensure these institutions are strengthened . . . ."