BIDC pushing service industries exports

A Barbadian delegation of services companies has just returned home after participating in Latin America and the Caribbean Outsourcing and Offshoring Forum (Outsource2LAC 2012) held in Medellin, Colombia, December 5 and 6.

Led by Director of Export Development and Promotion at the Barbados Investment and Development Corporation, Sonja Trotman, the group comprised four private sector companies from legal services (Fitzwilliam, Stone & Alcazar (Attorneys-at-Law), consulting services (Strong’s Supreme Service Inc., 3Si), architectural services (Ur-Imagination Inc.), and ICT and business solutions (JP Marshall Associates).

Trotman reported: “This was not only an educational experience but also an opportunity to promote Barbados services industries offerings. It also allowed for networking with representatives from most of the Trade Promotion Organisations in Latin America and the Caribbean.

“The Barbados delegation benefited tremendously from the business networking and conference sessions and we do look forward to being invited next year with an even larger Barbadian presence.”

The BIDC’s participation in the forum was sponsored by the Inter-American Development Bank.

Organised by the Integration and Trade Sector of the IDB, the Cooperation and Investment Agency of Medell??n and Proexport Colombia, Outsource2LAC 2012 is an annual event. Its main focus is to present major trends in the global services industry, to identify existing opportunities, and propose strategies for the growth and sustainable development of the sector.

At the same time, Outsource2LAC seeks to show the world the competitive advantages Latin America and Caribbean countries can offer to potential investors.

High-level executives from Latin America, the Caribbean, Asia, Europe, and the United States, along with official representatives of the government of Colombia participated in the different thematic discussion sessions.

Government announced the transfer of the mandate for services exports from Invest Barbados to the BIDC, effective July 2, 2012.†All matters pertaining to the export development and promotion of services, with the exception of tourism-related and financial services, should now be directed to the Export Development and Promotion Division of the BIDC.

The Corporation has earmarked certain sectors for priority, namely, creative industries (film, fashion and entertainment), professional services (engineering, architecture, consulting services, etc.), health and wellness, ICT, construction and education services. These sectors are considered to have high potential for growth and foreign exchange earnings.

Services exporters will now benefit from the full suite of export development and promotion services which BIDC offers to manufacturing companies. These include technical assistance, advisory services, export marketing and assistance in accessing funding from other agencies.

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