THE BARBADOS MANUFACTURERS’ ASSOCIATION (BMA) is calling on CARICOM to make it much easier to get raw materials and production equipment shipped to the region, as global supply chain issues continue to hamper the local manufacturing sector.
Speaking following the launch of the BMA’s new Trade and Innovation Summit 2022 at the Hilton Barbados Resort, a successor to the Barbados Manufacturers’ Exhibition (BMEX), BMA president John Marshall said securing orders for production equipment and raw materials has been a daunting process in recent times.
“You know, we have conversations with our vendors across the world every single day and most equipment suppliers now would give you a minimum of a one year [wait for] delivery.
“Raw material suppliers are expecting you to place orders six months in advance, and they want their terms cut to lower the rising prices and if you don’t pay them on time or pay the prices they want, they sell it to somewhere else,” he said.
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