In recent years, technological advances have had a tremendous impact on increasing trade in services, as many business services can now be marketed and delivered online. Promoting trade in services offers developing countries the opportunity to diversify trade and contribute to job creation and development.
Yet, the sector is often overlooked as a development opportunity, even though the business and professional services sector has been the fastest-growing area of international trade. Studies have consistently indicated that services – and services exporting – are generally misunderstood. Creating awareness about service exporters and their needs is the first step in increasing trade in this promising area for developing countries.
Under a regional CARICOM initiative, efforts have been made to organize this fragmented and diverse sector through the establishment of Coalitions of Services Industries in several Eastern Caribbean countries. These Coalitions would increase awareness about opportunities to export services; provide a lobby with a single voice for economic reform; and address the horizontal needs of its member companies and associations.
To support this initiative, the Dominica Coalition of Service Industries (DCSI) is convening training workshops aimed at potential and existing exporters of business services, as part of their mandate to help members integrate into the regional and global economy.
Workshops will be delivered on Tuesday 13th December and Wednesday 14th December and will attract small businesses which offer a range of business and professional services, including legal, construction, architectural, accounting, consulting, engineering, cultural, ICT, health and wellness, and other services. While tourism is a key sector within the region, the business service sector presents tremendous, untapped export potential in most countries, with some analysts predicting export growth to reach nearly half of all world trade by 2020.
Participants at the workshops will: better understand the nature of services and trade in services, and the opportunities and prospects under the CARIFORUM-EU Economic Partnership Agreement (EPA), CARICOM-Canada and other bilateral agreements; learn of the requirements for providing services in the EU, and other bilateral agreements, how to establish credibility in a new market, cultural considerations, and the importance of strategic alliances in services export ventures. Very practical strategies and tips will be presented in one-day interactive workshops.
A most excellent and timely innitiative….