Experts to assess creative industries

CASTRIES, St Lucia (CMC):

St Lucia will host a three-day regional training seminar assessing the economic contribution and performance of creative industries to the national economies of the Caribbean.

The March 29-31 event is being organised by the International Trade Centre (ITC), in collaboration with the World Intellectual Property Organisation (WIPO).

This is as part of ITC's work towards increasing the export capacity and success of, small and medium business sectors in developing countries.

St Lucia's Commerce, Industry and Consumer Affairs Minister Charlotte Tessa Mangal will address the opening ceremony which is expected to be attended by Jamaica's , Investment, Industry and Commerce Minister, Karl Samuda.

Fast-growing sector

Based on statistics from a recent Creative Economy Report by United Nations Conference on Trade and Development, the creative industries is regarded as one of the fastest growing sectors globally.

According to the report, the sector makes an estimated seven per cent contribution to world gross domestic product (GDP) and is forecasted to grow annually by eight to 10 per cent.

The organisers of the conference said this growth has spread to the Caribbean in the form of growing interest in the export of cultural products and services.

"This growing interest however, is yet to be turned into meaningful exports as there still remains a significant imbalance in the region's trade in cultural goods," the organisers said.