Saint Lucia revisits export strategy

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Saint Lucia revisits export strategy

(GIS) – Hon. Bradley Felix, Minister in the Office of the Prime Minister with Responsibility for Commerce, Industry, Investment, Enterprise Development, and Consumer Affairs has stated that the National Export Strategy for Saint Lucia will provide the economy with a more competitive edge.

The honourable minister spoke during the Debate of Estimates of Expenditure which took place within Parliament on March 21 and 22. He stated that a dynamic export sector is the backbone to any country’s success within the global competitive market.

“The last strategy was developed in 2004 and it definitely needs replacing,” he said. “The policy document is critical to implementing a work programme aimed at increasing exports of existing companies and bringing new export-ready firms to new regional and international markets. For a small and open economy like ours, a vibrant export sector lies at the heart of building a competitive economy. Research shows that as more and more firms export, not only do these firms become competitive but all other firms providing goods to the exporting companies must also become competitive. Therefore exports are vital in building an overall competitive economy.”

The minister added that the implementation of the National Export Strategy is necessary to elevate the country’s standing on the international competitive stage.

“If Saint Lucia is to achieve the growth trajectory needed to transform this economy, competitiveness in all sectors of the economy must be at the heart of our strategy,” Minister Felix said. “The National Export Strategy of Saint Lucia must be seen as an instrument that goes beyond individual companies. It really is one of the ways in which we go about reshaping our approach to the medium and long term development of our country.”

The new National Export Strategy is in the final stages of preparation.

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