Plans are being developed for one of the region’s largest supermarket chains to use its extensive supply and logistics network to help Caribbean producers reach international markets, Massy Group President and chief executive James McLetchie has revealed.
The suggestion gained immediate support from Prime Minister Mia Mottley at the reopening of the Massy Stores Worthing branch in Christ Church.
Massy Group was exploring how its established distribution infrastructure could be repositioned to create a stronger south-to-north trade route, according to McLetchie.
Prime Minister Mia Mottley touring the reopening Massy Stores Worthing Branch with Jared Wright, Senior Vice President and Country Head, Massy Barbados (Photo credit: Shamar Blunt / Barbados TODAY)
Prime Minister Mia Mottley speaking to James McLetchire, President and CEO of Massy Group, on the sidelines of the evening’s official opening (Photo credit: Shamar Blunt / Barbados TODAY)
Prime Minister Mia Mottley (Photo credit: Shamar Blunt / Barbados TODAY)
Massy Group President and Chief Executive Officer James McLetchie (Photo credit: Shamar Blunt / Barbados TODAY)
(Photo credit: Shamar Blunt / Barbados TODAY)
“Massy at its core moves things, a supply and logistics machine across this region,” he said. “We have incredible partners outside of this region. We break the bulk, we move it, and we take it to places that they don’t want to, or they can’t take it.”
McLetchie said the company had traditionally operated primarily as an import and trading engine, but had begun rethinking how that capability could better serve the region.
“Well, nine months ago, we decided to rethink that. How could you reposition that capability for the region?”
The emerging project would seek to use Massy’s supply chain and logistics expertise to facilitate greater movement of Caribbean-produced goods into international markets, he said.
“What we are starting to explore is how do you take that capability, supply chain logistics skills, and reposition in a way where it is built around export.
“Instead of just a North-to-South [trading arrangement], how do you create a South-to-North engine? That is a project we just embarked on.”
The objective is to build an ecosystem that would benefit countries across the region while allowing Massy to continue strengthening its logistics capabilities, the Massy chief added.
Prime Minister Mottley welcomed the initiative, linking it to the Caribbean’s long-standing need to increase foreign exchange earnings and reduce its dependence on imports.
“You said it better than me that you bring things from the North, the Global North to the Global South.
“But yet, in order for the Global South and all of our economies to survive and to sustain employment and to have inclusive growth and to maintain national security and national stability, we need to earn foreign exchange.”
Mottley said no Caribbean country could sustain itself without reliable sources of foreign exchange.
The proposed shift comes as CARICOM continues to push for greater regional food production and trade, with member states seeking to reduce the region’s sizable food import bill while increasing exports and strengthening food security.
For Massy, McLetchie suggested the company’s existing infrastructure could help make that shift possible by connecting producers with markets beyond the Caribbean.
The initiative also comes against the backdrop of growing regional concern over the vulnerability of Caribbean economies to global supply disruptions, rising import costs and external economic shocks.
(SB)
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