When the Director of Consumer Affairs (CAD), Philip Mc Clauren, met with Professor Jane Kolodinsky of the University of Vermont (UVM) at a... [more]
The Value Added Tax (VAT) Regime takes effect on October 1st, 2012. Toward this end, the Ministry of Commerce, Business Development,... [more]
Saint Lucia is a small developing country faced with major challenges as well as opportunities for growth. The country has been experiencing slow growth in the last five years. Preliminary estimates of 2008 indicate that real economic growth has declined to 0.7 percent, the lowest since 2002. In light of changes in the global market, exports have declined. The decline in export has impacted many sectors particularly the manufacturing sector.
In light of the potential that exists for economic growth, the Industrial Policy of Saint Lucia was developed to outline a broad framework for policy intervention aimed at stimulating growth in the manufacturing sector. Consequently, the development of a National Export Development Strategy was also commissioned. The strategy outlines at least ten (10) priority areas for exports for the period 2004 - 2008. The priority export sectors are:-
Saint Lucia's participation in Expo 2010 will be coordinated by the Ministry of Commerce, Industry and Consumer Affairs. The Ministry was selected as the lead agency given its mandate to promote, facilitate and monitor the performance of the country's manufacturing, industrial and commercial activities.
The Ministry of Commerce, Industry and Consumer Affairs being cognizant of the challenges facing the manufacturing sector in particular, continues to work with local Business Support Organizations (BSOs) to find new avenues for the promotion and development of export. Participation in this Expo will thus contribute to the implementation of Industrial Policy and National Export Development Strategy as it relates to:
China is regarded as an emerging economy that offers unlimited prospects for export expansion and investment for CARICOM Countries. The CRNM Private Sector Trade Brief Volume 20, April to May 2007 reported on the possibilities for trade that exist in the Chinese Market. The database of the International Trade Centre's reported that CARICOM firms shipped US$238.4% million of Exports to China in 2005 and imported US$616.5 million worth of Chinese products. For the period 2001 - 2005 export by CARICOM firms to China increased by 67%.
For more information click on http://en.expo2010.cn/expo/expo_english/oe/bi/userobject1ai48695.html
To view the promotion video click http://en.expo2010.cn/sr/video/index.htm
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