MINISTER OF STATE in the Ministry of Economic Affairs, Patrick Todd, has challenged small and medium-sized enterprises to exploit the opportunities presented by the revised Treaty of Chaguaramas.
He was speaking last Thursday at the launch of TotalOffice Limited’s local branch in Warrens, St Michael.
TotalOffice is a Trinidadian company that sells stationery and office equipment.
“The CARICOM Single Market affords numerous opportunities for regional businesspersons by facilitating their commercial activity,” Todd said.
He urged the local business community to rise to the occasion and seek to get more of its products and services into foreign markets.
“The challenge to you is to redesign your products and services and to introduce cost-cutting measures, thereby making them more price-competitive.
Lowest prices
“The process of trade liberalisation continues seemingly unaffected by the prevailing economic conditions, resulting in the large-scale importation of goods and services from various foreign markets, with the aim, of course, being to offer consumers the lowest possible prices,” Todd said.
He said this can be seen daily “as we visit the various retail operations and see the vast assortment of extraregional and regional products that are available to consumers”.
Todd noted that it was important for regional businesses to form strategic partnerships.
He said the opening of TotalOffice promoted regional integration and introduces additional options for sourcing office furniture. (NB)
