TTMA tells Govt: Boost exports

Calling for export growth, the TTMA in a statement urged the creation of an enabling environment to create a much-needed expansion of the manufacturing sector, plus greater production, employment, export and foreign exchange earnings.

The statement said Government and business sector have similar interests.

“Both the Government and the manufacturing community agree wholly that the industry needs to take the lead in the diversification drive, and the urgent acceleration of this drive is crucial.

“However, for this objective to be realised, certain measures need to be implemented to serve as a catalyst for investment in plant, machinery and operations, allowing for greater productivity and output from factory floors across the country.” The TTMA said it has proposed a priority list of items for the Government to mull for the 2017/18 fiscal package, to collaboratively help build the non-energy sector and drive diversification.

“The TTMA would like to see as many of our manufacturers competing on the global market as possible, but without the right conditions locally, it would not be possible to effectively compete with some of the most efficient world market leaders.” The TTMA’s priority list of items includes export incentives to manufacturers to help create new streams of foreign exchange revenue for our national economy.

“The TTMA emphasises that these proposed measures would serve to promote manufacturing, exporting, job creation, crime reduction and ultimately aid in the much required diversification process.

“The initiatives are not burdensome on the Government coffers (but) are cost-effective, and the benefits will undoubtedly have far reaching consequences in stimulating sustainable growth and economic activity across the country.”