Posted On: Friday, 11 May 2012 Last Updated: Friday, 11 May 2012
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Basseterre, St. Kitts,(Friday 11th May, 2012)-The manufacturing sector in St. Kitts is being singled out as one of the potentially viable areas of enterprise that can benefit substantially from the recent trade agreement, signed between Brazil and St. Kitts and Nevis.
Minister of International Trade, Timothy Harris, says the Partial Scope Agreement between St. Kitts and Nevis and Brazil holds out several opportunities and possibilities for the local manufacturing sector, and the enclave sub sector in particular.
Harris said however that the opportunities expand beyond the manufacturing sector, to the broader commercial and consuming public. He described last week Friday’s signing as a milestone event.
The agreement had a long gestation, dating back to the formal indication of St. Kitts’ interest in acceding to the Brazil/Guyana Partial Scope Agreement to COTED, in Antigua in 2008.
The agreement is expected to benefit the manufacturing sector as electronic parts made here will now have a secured market in Brazil.
Prime Minister of St. Kitts and Nevis Dr. Denzil Douglas last month said that the Partial Scope Agreement, will lead to the diversification of the international exports strategy for St. Kitts and Nevis, enhancing the country’s profile in international trade and provide greater profitability and financial security for manufacturing facilities operating in the Federation