By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
STANDARDS that verify quality goods and services are essential if the Bahamas is to properly compete with global rivals in rules-based trading regimes, a Cabinet Minister said.
Brent Symonette, minister of financial services, trade and industry and Immigration, said the development and adherence to quality standards would also help the Bahamas to diversify its economy.
His comments came while addressing the recent Bahamas Bureau of Standards and Quality (BBSQ) forum on implementing national quality infrastructure, featuring Sergio Mujica, the secretary-general of the International Organisation for Standardisation (ISO).
"We have to find ways to diversify the economy. We can only compete in the trade and industry arena if we have standards and quality. That is very important," said Mr Symonette.
He added that the Government was trying to move forward on areas such as the World Trade Organisation (WTO) accession, the Economic Partnership Agreement (EPA) and other trade agreements that require liberalisation in certain rules and sectors.
Mr Symonette said the Government was also examining issues such as Customs duty and exchange control liberalisation.
Edison Sumner, the Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chief executive, said the demand for standards and quality encouraged the private sector, particularly small businesses, to be more careful in how they manage their operations and promote their products.
Mr Sumner added that today's consumer was far more aware and discerning on whether products and services met their expectation. He added that, ultimately, the demand for standards and quality will improve the way business is done in the Bahamas.
"Too many times we hear that a person paid for a gallon of this but only got a quarter of that, or that the quality was not up to par. In order for us to correct those issues and put our best foot forward, we must understand that when we do business the eye of the world is on the Bahamas, not just the local consumer," Mr Sumner said.
Comments
Economist 6 years, 5 months ago
There are various people trying to sell eggs as "free range" etc. But who has the over site for this? There is no group who certifies them to be free range so how do I know what I am buying?
Standards are vital if you want me to buy their eggs. At the moment I have no confidence in what they are saying so will buy foreign, even if they are more expensive, until I am satisfied that the Bahamian product is what they say it is.
bogart 6 years, 5 months ago
Demand for standards and quality will improve the way business is done in the Bahamas does not inspire hope for imprpvement. Bank fees have risen over 100% in the Bahamas the highest in the Caribbean and where was the Chamber of Commerce complaining over this astronomical cost all business would have incirred over 365 days of doing business?... Where was the Chamber of Commerce complaining that the mail to and from its Budiness clients takes foreever to get to customers as the General Post Office is not working ar full level?... Where was the Chamber of Commerce saying anything about web shop activities ...and are they represented by the Chamber of Commerce?..etcetcetc
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