The Federation now has a dedicated regime aimed at guiding the continued growth and development of the manufacturing sector.
This comes as a result of over three (3) years of public and private collaboration between the Ministry of International Trade, Industry, Commerce and Consumer Affairs and the St. Kitts-Nevis Chamber of Industry and Commerce, through its Manufacturing Division.
Cabinet’s subsequent approval signalled the adoption of this strategy document as the official National Manufacturing Strategy 2014.
The over-arching goals of this strategy are:
· To realise growth in the manufacturing sector’s contribution to GDP by 2.5% by 2020
· To create 150 new jobs in manufacturing by 2015 and 500 additional jobs by 2020
· To improve the depth of quality manufacturing and value-added
· To steadily attract, encourage and facilitate environmentally sustainable manufacturing to St. Kitts and Nevis
· To promote best practices and cutting edge manufacturing industry standards
The full operationalization of the National Manufacturing Strategy will position the manufacturing sector to enhance its prominence re: economic contribution, thereby boosting the industry’s current contribution to GDP of 8%.
Additionally, this development is timely for manufacturers especially as it follows closely on the heels of the recent market opportunities made available by the Federation’s signing of the Brazil-Guyana Partial Scope Agreement which will directly benefit the sector via increased preferential trading activities between these three territories.
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