Established October 1895 Ministry has new way to track school performance Page 6 Wednesday May 27, 2015 $1 VAT Inclusive Farmers urged to stay in sugar industry By Ashlee Cox FARMERS who are in the sugar industry want to remain in sugar cane production because they are knowledgeable about the process and understand how important the plant is to the growth of non-sugar cane crops. According to Chairman of the Barbados Cane Industry and Director of the Barbados Agriculture Management Company (BAMC), Dr Atlee Brathwaite, the problem sugar cane farmers have been facing is the low prices they receive for their crops. “There are farmers already in the sugar industry,farmers who know a lot about the production of sugar cane. The problem with farmers at the moment is that the prices they get for their sugar cane, I would say is remu- nerative – it is below the cost of producing the sugar cane,” he noted. Stating that they are commit- ted to restructuring the sugar industry to ensure that the new factory performs the way it should, he also revealed that they are trying to further en- courage the farmers who are presently in the sugar cane production to remain in the industry. “I would call certain support services and financial support to encourage them to continue so Dr. Delisle Worrell, Governor of the Central Bank of Barbados, in conversation with Toni Thorne (left) while Linel Franklin of the STAY on Page 4 Bank looks on. BONDS RELAUNCHED THE Barbados Savings tures. “But you will always get Bond has been one of the Central Bank Governor: It’s a good way to save more than you put in so long as best kept secrets in the His comments came as the organisations, as well as $100 for an investment of you hold the bond for more than country’s financial system. Bank relaunched the savings $200 000 for joint holders. $76.24,” he explained. a year,” he explained. That’s the word from Dr. bonds with a $10 million issue, “There is no better vehicle for “However,if you do need cash According to Dr.Worrell,“The Delisle Worrell, Governor of the which will open for subscription rainy day savings than the sav- in the period before the bonds savings bond is also a nice way Central Bank of Barbados. on June 1, 2015. The issues will ings bonds,” Dr. Worrell said at mature, you can cash the whole to save for a long-term goal such To this end, he is suggesting carry a rate of 5.5 per cent and a function, which was held at bond or any portion thereof at as the downpayment for a that “every Barbadian should will mature after five years. In the Bank yesterday and at- any time.” purchase of house or car or the have savings bonds because addition, the maximum limit tended by a number of guests. The Governor noted that nat- tertiary education of your chil- everyone should have savings has been increased from “If nothing unexpected turns urally early encashment comes dren. Savings bonds are a good set aside to cover life’s contin- $50 000 to $100 000 for individ- up and you hold your bonds for with a lower return than if one way to get children started in gencies”. ual purchases and benevolent the full five years, you will earn had held the bond until it ma- SAVINGS BONDS on Page 3 2 • Wednesday May 27, 2015 The Barbados Advocate Explore opportunities in Guyana CHIEF Executive Offi- materials. cer of the Barbados In- “For a Barbadian man- vestment – Wealth of resources waiting to be tapped ufacturer,particularly,re- Development source rich Guyana can Corporation (BIDC), lighted the gains that trade surplus. Barbados to that country last year, munications sectors, also be looked to as a Sonja Trotman, wants could be made from a fur- exported $48.4 million in she noted that with its which could prove mutu- source of raw material in- Barbadians to fully ex- ther strengthening of goods to Guyana in 2014, push for further infra- ally beneficial to the puts. Barbados as we plore the business op- these ties. while imports were recor- structural development, countries. know it is not the most portunities available “Our research suggests ded at $27.3 million, and Barbados was poised to “Another area in which endowed with natural re- in trade and invest- an abundance of business this is very commendable be a supplier of other con- we could possibly collabo- sources, especially when ment in Guyana. opportunities existing be- for us,” she stressed. struction materials. rate is in tourism services compared to our South Speaking recently at a tween Guyana and Pointing out that Bar- “In addition to sales of development. Our expert- American counterpart. business forum arranged Barbados just waiting to bados was the leading cement, Barbados is well ise in hospitality manage- “I therefore wish to im- by the BIDC and be tapped. Guyana is one supplier of cement to positioned to offer re- ment training is a much plore our local producers GoInvest at Bagnall of the few countries with Guyana, accounting for sources from within its sought after service in ex- to take a different view of Point Gallery, she high- which Barbados has a 62 per cent of the exports construction and telecom- port, which we would be Guyana. Look at it not more than willing to ex- only as a tourist market tend to Guyana – a mark or a target market for the for further development sale of goods, but as a as a tourism destination,” country in possession of she stated. an array of untapped re- Trotman also advised sources that can prove businesspersons to see highly beneficial in our Guyana’s resources as a local production,” she market source for quality added. (JMB) Significant trade happening between countries THE figures speak for Guyana. themselves, and according “In terms of imports, the to Guyana’s Consul data for 2014-2015 show General to Barbados, that Barbados was Michael Brotherson, trad- Guyana’s second major ing between the two trading partner, behind Caribbean countries has Trinidad and Tobago. been significant over the During the first quarter past five years. of 2015, it shows that Just last year, in fact, Barbados was Guyana’s Guyana imported around third largest trading part- $50 million in products ner behind Trinidad and from Barbados, and ex- Tobago and Suriname,” he ported over $27 million in added. products to Barbados. According to Brother- “Guyana enjoyed a pos- son, between 2010-2015, itive trade balance with Guyana recorded large Barbados during the pe- imports from Barbados in riod 2010-2014. However, several categories includ- a negative trade balance ing building cement and was recorded in 2014. other types; fertilisers, Though trade between flour; paper/paperboard Guyana and Barbados products; and plastic and since 2010, has recorded plastic articles; sweetened some decline in overall and unsweetened bis- import values, and while cuits; articles of iron and in 2015 the data is based steel; machinery and me- only on first quarter re- chanical appliances; elec- sults, given the trend, trical machinery and fur- there is a likelihood that niture. trade between the two Meanwhile, for the first countries could continue quarter of this year, to rise,” Brotherson said. Barbados was Guyana’s Speaking during a re- third major trading part- cent Barbados/Guyana ner, behind Jamaica and business forum at Bag- Trinidad and Tobago, with nalls Point Gallery,he told fish, fresh fruits, vegeta- those gathered that the bles, rice, molasses, sugar full depth of this trade confectionery, cane sugar, was seen while looking flour, rum and other bev- holistically at trade be- erages being the main ex- tween the region and ports here. (JMB) The Barbados Advocate Wednesday May 27, 2015 • 3 Greater access THE University of the tions to various levels of 120 and at the graduate West Indies (UWI) Open education, including con- level another 20 persons. Campus is actively wor- tinuing and professional While these figures are king on bringing all of education. encouraging, the Minister the local programmes it “Trinidad has the lar- wants to see more males offers across the region gest number. We had enrolled at the Campus, as into a central pool, so something like nearly 600 females are still outstrip- that all the countries courses in Trinidad, and ping males in terms of can have access to we are currently categoris- higher education. With them. ing them.We are updating that in mind, he said his So says newActing Prin- some of them and they will Ministry will continue the cipal and Pro Vice-Chan- be available throughout discussion with the Open cellor of the UWI Open the region very soon. Campus to see what pro- Campus, Dr. Luz Longs- “We have funding from grammes they can come worth. According to Dr. the Department of Foreign up with to attract more Longsworth, this is an ini- Affairs, Trade and Deve- males. tiative that the Campus lopment, the Canadian “We discussed the pecu- has been working on for Government, and we've liarity that seems to be ex- the last two years and they been working assiduously isting across the region of expect to have it completed on pulling together a huge males and how we are in the shortest possible resource to have it avail- going to be able to bring order. able to the entire region,” them into the study and She made the comments she explained in an inter- training arena, particu- while noting that the view with The Barbados larly the studying arena, Acting Principal and Pro Vice-Chancellor of the UWI Open Campus, Dr.