Food sector urged to look overseas
The local food sector is being urged to actively consider extending franchises overseas as a means of boosting their growth.
This was the word from the president of the Barbados Chamber of Commerce & Industry (BCCI), Lalu Vaswani, as he delivered remarks during the ceremony for the rebranding of Mall Internationale, Haggatt Hall, including its renaming to Sky Mall.
Vaswani warned that within two years, the period for protective duties was scheduled to expire, noting that it was better to be prepared for international competition gradually rather than “in one fell swoop”. He mentioned that BCCI supported the creation of new avenues of foreign exchange.
“Can you imagine the joy that the Barbadian diaspora in Brooklyn, Toronto or London would have in having their favourite Barbadian brands in their adopted homelands? Indeed, this could be part of the new economy of services that will contribute to earning valuable foreign exchange for Barbados,” said the president.