Barbados Investment & Development Corporation

Export Promotion

Purpose

The Export Promotion Unit has been responsible for developing and facilitating exports of goods and services in order to achieve its primary goal of increased foreign exchange earnings through exports.

The Division's mandate, which is incorporated in the Act establishing the Corporation, is as follows:

1. To advise on, promote and facilitate the development of export trade;
2. To conduct and facilitate research into investment, industrial development and the export of products and services and to make information available to persons on request;
3. To engage in the export of such products and services as the Corporation considers necessary;
4. To provide financial, technical or other assistance to enterprises engaged in investment, production of goods and services and export of goods and services.

 Functions

1. Manufactured Exports
   
   Export Capacity Building
   
   
   • General business counselling
   • Product development including product testing and registration with overseas regulatory bodies e.g. FDA
   • Development and implementation of export marketing plans

      

2. Overseas Market Development and Promotion
   
   
   • Identification of target markets
   • Identification of buyers, distributors, importers etc.
   • Market penetration and development
   • Provision of trade information
   • Establishment and management of market development programmes, which provide for representation in selected markets through strategic alliances with distributors.  There are currently four programmes - USA (2), Canada (1) and UK (1)
   • Organising of outward Trade Missions
   • Arranging itineraries for inward missions or individual buyers
   • Participation in international trade shows
   • Product and in-store promotions

      

3. Certification
   
   The BIDC is the Certifying Authority for exports claiming preferential treatment under a number of Trade Agreements. Certificates of Origin relating to the following Agreements are authorised daily - CARICOM, CARIBCAN, CBI, GSP, CARICOM /Venezuela /Colombia /Cuba /Dominican Republic /Costa Rica.

    

4. Services Exports
   
   The BIDC strategically partners with the Barbados Coalition of Service Industries (BCSI) to promote and market indigenous services overseas.
   
   • Identification of target markets for the various sub-sectors
   • Devising and implementing promotional and marketing programmes for each sub-sector in the identified target markets