Fiscal adjustments
require more than expenditure cutting, increasing revenue is also vital.
National revenue sources must be diversified into untraditional areas
previously under developed in this economy. Generating new revenue sources and
in such quantities that can help balance the national budget, reducing both
existing borrowings and the need for new deficit financing, at the same time
lessening debt servicing payments, and maintaining or adding to the nation's
foreign currency reserves levels, are all laudable goals. Hence, the focus must
now be squarely placed on and brought to economic areas, sectors and
industries, in which there is a national competitive advantage that can meet
these said goals.
Agribusiness is one such area, which suffered and took a
back position in the revenue generation hierarchy. This must now be urgently addressed
to replace any reduction and to add growth in the nation's Gross Domestic
Product (GDP). In the very short term, efforts must be implemented to build on
the data gathered out of this sector, using the resulting information to
strategize; production informed by global demand and supply, distribution
systems which could reduce waste, and costing and pricing formulas that are
competitive in the competing categories. Hence, brings all involved in
Agribusiness together under a national policy and mission.
Governments’ role is to map out,
articulate and present that Agribusiness policy and to engage sectors and
industry participants to help enact the stated mission. Further, Government
must direct, facilitate and utilize its foreign missions, trade and industry
policies to develop and penetrate new international markets that can earn the
needed foreign currency and strategically influence demand. Facilitating land
leases, water and chemical supplies, equipment financing, seed and feed
production and distribution, kitchen gardening, bulk purchasing, etc. to
streamline and make the process more efficient, allowing the nation to feed
itself while, building 'A' grade export capacity.
Branding Caribbean Specialty Fresh or Process Food Products
is key to developing, penetrating and winning export markets and the desired
growth in the nation's Agribusiness GDP. This branding can be a long and expensive
process, consist of strategies to develop name recognition, market acceptance
and consumer loyalty. Name recognition will involve legal registering and trade
marking in every market to protect the brand, hence, protecting the producers'
rights and consumers' trust. Further, promotions must be done in every
geographic market to gain and maintain cultural and religious acceptance.
Through agents and distributors ongoing activities, customers must be converted
into loyal and repeat consumers.
The objective is to build a class of products aim at
prestige markets and an elite clientele that will hunt far and wide for
Caribbean Agriculture Products. Temperate holiday locations, business and
sporting events, anywhere that people should be reminded of the hot sunny beaches
of the Caribbean, must have a display mission fully stocked with samples and
order forms. Fruits and vegetables, Fish and Meats, Cakes and Confectionery,
Pies and Pastries, Rums and Wines, are prepared, packaged and served in the
unique style of the Caribbean Community.
Rationale
T.A.J & Associates Company Limited uses this occasion to comment on topics that have been covered, both academically and by the mainstream media, to add its opinion and point out investment opportunity, not to invoke any social action.
