More and more Bahamian merchants are hoping to follow current buying trends and purchase their goods in large quantities directly from China, one of the fastest growing economies in the world.
It is the reason scores of local entrepreneurs packed the Wyndham Nassau Resort on Monday for the opening of a two-day China Shop and Ship Conference that is essentially aimed at educating participants on how to set up and execute cost-effective ways to secure products from the Asian market to the western world.
With economic growth exceeding 9.2 percent annually in China, well-managed companies are reportedly poised to reap huge profits as Chinaﾒs 1.5 billion consumers purchase enormous quantities of every consumer product imaginable.
“China has become a very important trade partner. So China is also now increasing the number of its overseas interests,” said Chinaﾒs Ambassador to The Bahamas Li Yuanming.
It is an opportunity local officials recognize and have encouraged Bahamian entrepreneurs to seize.
But Prime Minister Perry Christie also reminded that if Bahamians are to play a significant role, they must remain focused.
“The point I have tried to make, particularly to small, black businesspersons is do not allow your politics to cause you to lose focus on the business opportunities that are before you and much more importantly on the focus that you ought to sustain in ensuring our business is successful,” Mr. Christie said.
“You cannot be successful by taking a political season off. All persons are encouraged to vote; owners of big companies vote. But do not fool yourself, they do not allow their businesses to be interrupted or influenced by who they support politically.”
Tourists reportedly spend between $150 million and $200 million in The Bahamas annually on souvenirs and handicrafts.
But according to the prime minister, the idea is not to simply go abroad, buy, bring back and sell, but to recognize that consumers also pay for handmade items made in The Bahamas.
“If you can just see the progress that we are making and at the same time, the progress we could make, you would realize that many items could become indigenous simply through creativity,” Mr. Christie said.
Frenchman and potential entrepreneur in New Providence, Philippe Sahnoune, is among those who feel the conference offers the best opportunity to get both ideas and products.
Gwendolyn Rolle, a Grand Bahama resident, has a similar plan for her perspective shoe business, the slip-on collection.
“I came up with the idea five years ago. And so I feel itﾒs time this shoe is placed on the market. I am here to make sure that I find the right sourcing for my product. I want to have a factory to help make these shoes, giving more Bahamians a job,” Ms. Rolle said.
According to Ms. Rolle, the slip-on collection will result in women traveling with fewer shoes. The plan is to create pairs of shoes that could be converted into several different styles.
Global United Limited, a logistics-shipping giant for The Bahamas and the Caribbean, is hosting the two-day conference.
Todayﾒs speakers will include Tourism Minister Obie Wilchcombe, who will address the topic the “Economic Impact on The Bahamas Tourism Product.”
By: Macushla N. Pinder, The Bahama Journal
