BVI News

Virgin Islands Trade Commission to take business to another level

Junior Trade Minister, Shereen Flax Charles.

The government yesterday launched the Virgin Islands Trade Commission, a statutory agency tasked with developing policies, programmes and initiatives to improve trade relations of the BVI.

The agency will also be tasked with undertaking ventures to increase investments, private sector growth and local entrepreneurship.

“We also wish to simplify government’s procedures in order to minimize the cost of doing business and other costs. We will facilitate capacity-building in man-power and resources. We will identify and develop special focus areas which will diversify the economy and generate employment opportunities,” said Junior Minister for Trade & Economic Development, Shereen Flax-Charles at the launch event on February 23.

The Trade Commission will also be tasked with ensuring that consumers get the best products on the best possible terms. Additionally, it will seek to form global partnerships and find global markets for BVI’s imports and exports.

Special focus on small business

One of the main priority areas for the new statutory body will be the development of Micro, Small & Medium Enterprises (MSMEs). According to Flax-Charles, entrepreneurs will be able to receive support, training, and counselling to advance their businesses.

The Commission will also be in charge of providing licenses for all local businesses.

Premier Andrew Fahie, who was also present at the launch ceremony, explained that the government continues to develop legislation that will facilitate the right environment for the Trade Commission to function effectively.

“It is expected that the overall restructuring and transition of The Virgin Islands Trade Commission will [grow] into a fully functioning statutory body [but] will take a period of three to five years because we still have plenty legislation to be passed through the House of Assembly,” Fahie explained.

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14 Comments

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  1. LOL says:

    Businesses right now need a lifeline, not old talk and stupid promises.

    Like 15
    • This says:

      This woman and this c**p is just another cluster f*k by Foy and his henchmen. Stop blowing smoke up everyone’s a** trying to make it look like your helping. The ports are supposed to open in a few days to ferry traffic and not a word from your big mouth. That alone would do more for business than any of your stupid ideas.

  2. A next idiot says:

    The vip circus is full of joke
    What business are you speaking of again
    Ayo kill the business community
    As ayo claim y’all keeping COVID out
    Woman go sit in a corner

    Like 13
    Dislike 3
  3. True says:

    Another level, DOWN TO THE GROUND!

  4. Rubber Duck says:

    If only it was true. In reality the act that creates this body vastly increases the already crazy bureaucracy involved with doing business in BVI. It vastly increases the cost and difficulty ob obtaining trade licenses. It gives the government Zimbabwe like powers to appropriate and take over businesses and reserves some sectors of the economy for an unspecified section of society [ the cronies in all liklihood ]. A disaster frankly.

    Like 7
    Dislike 1
  5. NOW says:

    Existing small businesses are failing in real time. Pay the stimulus. Help us NOW. Help with essential expenses to keep a company alive. Electric, Internet, & Phone. We are loosing the battle and sinking without any help. Why are you all spending money on new projects. There are small businesses going down NOW. Help NOW!!!

    • @Now says:

      $6K is a stimulus? While it is something to be grateful for and it can help the smaller businesses in a more fruitful manner, is that really ‘assistance’? Where is the data that shows how businesses are suffering after being affected by COVID for an entire year?

  6. hmm says:

    C***y go sit down

    Like 3
    Dislike 1
  7. YOUTH says:

    Good move

    Like 1
    Dislike 4
  8. Clearly says:

    I love this

    Like 1
    Dislike 4
  9. Fashion Police says:

    That is one beautiful elegant Woman. Her outfits be rocking.

    Like 2
    Dislike 2

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