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| Friday, 27 July, 2001, 12:26 GMT 13:26 UK Caribbean embraces business diversity ![]() The Caribbean has always been a magnet for tourists By the BBC's business reporter Marcia Hughes Seventeen Caribbean countries are staging a trade and investment show in London to promote the region in various areas, including trade, investment and banking. It is the first time that such a big joint effort is being undertaken by these countries to showcase the commercial and cultural diversity of the region. One area in particular, the telecommunications and IT sector, has seen enormous growth which has led to the rapid expansion of call centres. The Caribbean, with its golden beaches, has always been a magnet for tourists, but now it wants to turn its attention to more hi-tech business. Transformation The region's economies once characterised by the more traditional sectors such as sugar, bananas and the oil and mining industries, are transforming themselves.
"We have to bring all of our services together so that we present to the world a product that is more attractive," says Billie Miller, deputy prime minister of Barbados. Jamaica, the third largest country in the region, is showing how that can be done. Since it started the phased liberalisation of telecommunications two years ago and the successful auction of mobile phone licences, Jamaica has seen growth in its service sector and rapid expansion of call centres. Jamaica now has the second highest level of foreign direct investment in the Caribbean. Key sectors are mining, tourism, financial services and information technology. And the service sector accounts for 60% of the country's gross domestic product. Jamaica's success The success of those who have already set up call centres in Jamaica, speaks for itself. "They were able to establish a position in Jamaica in six months, it was a record time and they were thrilled that the Jamaican labour is by far the most superior to any they have met before," said Phillip Paulwell, Jamaican minister for industry, commerce and technology. "So too has [it been] our experience in our call centres, Jamaica being the third largest English speaking country in the hemisphere," he added. "We are quite an attractive marketplace for bright, creative, talented people." Setting an example Tom Phillips from Cable & Wireless is keen to step up the company's involvement in the country. "We've seen the market liberalised and the competition come in," he said. "We want to work with government to provide the types of facilities that have call centre business come into the islands, to have data processing offshore and provide internet access particularly for small businesses." No doubt the other 16 countries involved in the exhibition will be hoping to emulate Jamaica's example. |
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