There is renewed vigour among Barbadian businesses to break into the Chinese market.
And, development agencies such as the Barbados Investment and Development Corporation (BIDC) and private sector partners are being called upon to lead the charge in helping people to understand what it is like to do business in and with that country.
Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss, expressed this view this morning while delivering remarks at the BIDC???s information sharing session at Bagnall Point, for private and public sector stakeholders entitled: Doing Business with China.
The timely seminar comes after a 20-member Barbadian delegation comprising representatives from the public and private sectors visited Beijing from March 5 to March 23 on a three-week mission to learn about doing business in China.
Stating that we have already begun to see some success in our Chinese market, the Minister said ???we have had several businesses there before and we recognise that we have also had some business from China???and several Chinese delegations have also visited Barbados???There have been trade and economic delegations who have made wonderful contacts, and I know very well that we are now seeing some Barbadian products, such as rum, kola tonic and some other items venturing in to the Chinese market.”
Pointing out that the trip highlighted to all who participated the opportunity to understand what the demands, the complexities and the simplicities are of the Chinese market, Mr. Inniss stressed to those in attendance that it was more from Barbados??? end to actually ???break into that market.???
??????It???s not just about satisfying our market here at home, it???s about understanding the standards, the customs and procedures of those markets you venture into as some of them might be far more demanding than our domestic market calls for; but certainly we must keep up if we are to be successful in supporting goods and services. Trade goes both ways and we believe firmly not just in trade and goods but also in services,??? the Minister underscored.
Mr. Inniss also emphasised that while Barbados and China have had fruitful relations since 1977, he said ???there was still so much more to learn from each other??? I will certainly continue to expose our commercial arm to all the opportunities that presents itself.???
He further added that BIDC, BNSI and BIMAP would continue to avail themselves to identify those products and services that could create a niche market in China and aggressively pursue them.