CSI prepared to face economic challenges

By VonDez Phipps
Reporter-SKNVibes.com

BASSETERRE, St. Kitts – FOLLOWING months of discussion and the recent launch of the St. Kitts-Nevis Coalition of Services Industries (CSI), many service providers have been expressing concern over challenges that may be brought about with its implementation.

Views raised by a number of small business owners question the CSI’s ability to effectively survive in a highly competitive international trade arena and doubted whether the entity would be able to protect them. Concerns in relation to enhancing export and corporative representation in issues relating to regional and international trade were also raised.

In a recent interview with Dr. Gem Fletcher, Special Adviser to the CARICOM Secretary-General on Functional Cooperation, she acknowledged that there are going to be many challenges as the global environment is changing. She referenced the collapse of the US financial services sector and indicated that it is clear that there are going to be repercussions.

“We depend on the tourism industry but the fact is that the tourists are going to be less able to come to our country. What do we do in circumstances like that? You could be the best service provider in whatever area but you are going to be faced with fewer customers irrespective of your marketing strategies.”

Fletcher however noted that service providers would now have an organization that could advocate for them in providing assistance to struggling service providers trying to react to the international developments. ~~Adz:Right~~

“You now have an institutionalized body that can make a difference and speak to the world on your behalf because of the power of status based on volume. So there is no way that you are not going to be better off by having that group speaking with one voice.

“This will be spread across the Caribbean. The intention is to have a regional coalition upon the success of the separate national coalitions. That move is a little way down the road, but this is the objective so that we can operate in not only a reactive manner but also take a proactive approach.

We need to know what will be the issues and take necessary steps as a collective body to lobby in the international arena and to negotiate on the behalf of smaller and more vulnerable economies.”

Dr. Fletcher stressed the critical need for partnership and mentioned that there may have to be merges and cross-border entities so that the resources one small provider may lack, another in some other territory may have. She added that “once we have that kind of strategic alliance, we can meet those challenges and address them in a more integrated manner”.