Exports to US decline
A REMARKABLE DROP in Barbados’ use of its trade benefits under the Caribbean Basin initiative (CBI) has been noted by United States-based trade attorney Andrea Ewart.
Speaking at the CBI technical meeting hosted by the local United States Embassy at the University of the West Indies’ School of Business yesterday, Ewart, an advisor to governments and businesses and an expert on trade and customs law, said the percentage of exports by this country to the United States had fallen from 17 to seven per cent between 2010 and 2012.
She said possible reasons for the “sharp decline” included a lack of awareness in Barbados, not understanding sanitary and phytosanitary (SPS) requirements, supply constraints, inadequate infrastructure, and high energy/production costs. (RJ)