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Launch of National Codex Committee

by Senator The Honourable Lynette Eastmond, Minister of Commerce, Consumer Affairs and Business Development
[Wednesday, December 17, 2003]

Master of Ceremonies, Chairman of the National Codex Committee, Members of the Committee, Specially Invited Guests, Members of the Press, Ladies and Gentlemen. Good morning.
I am extremely pleased to welcome all of you to this the official launch of the National Codex Committee. I would first of all like to take this opportunity to issue a plea to the media for a greater coverage of important government initiatives such as this. The media has a responsibility to ensure that important matters are given the prominence over other matters which were often given top story priority.
I am of the view that the media has a critical role to play in the process of sensitizing all segments of the population to ensure that persons become aware of the important issues. I would therefore recommend that the media not to allow the Committee to perform its work in a vacuum.

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Launch of the National Innovation Competition of the Enterprise Growth Fund Ltd.

Senator The Honourable Lynette Eastmond, Minister of Commerce, Consumer Affairs and Business Development
[Tuesday, November 11, 2003]

Master of Ceremonies, Chairman of the Enterprise Growth Fund, Specially Invited Guests, Distinguished Ladies and Gentlemen.
First let me thank the Enterprise Growth Fund for extending this invitation to me to speak on the launch of what could be one of the most fundamental acts yet undertaken to assist in Barbados’ preparation for all that lies before us.
This is a competition that will have our people compete not for cricketing, body building, athletic, horse racing or cycling glory … … but a glory that is perhaps more in keeping with the quiet glory pursued by our draughts and chess players.
As you may be aware, earlier this year Cabinet in response to the recommendations of a Working Group on Finance agreed that the Enterprise Growth Fund Limited should be recapitalized and that the Government would meet any difference or shortfall from the private sector contribution.

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Seminar On Information Security

by Senator The Honourable Lynette Eastmond, Minister of Commerce, Consumer Affairs and Business Development
[Thursday, November 13, 2003]

Mr Chairman, Partners, Managers and other Executives of Ernst and Young, Members of the Business Community, Seminar Participants, Specially Invited Guests, Members of the Press, Ladies and Gentlemen.
I am extremely delighted that I have been afforded the opportunity to be present here this morning to deliver the feature address at what I consider to be a most important event.
I must say too that I always enjoy visiting the Sherbourne Conference Centre since I find the facilities quite aesthetically pleasing and the atmosphere to be quite relaxing.
I am advised that this Seminar which is entitled “Information 2003” will focus on Information Security. This is a topic which should be of considerable interest to all of us at this time.

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Start Of Small Business Week 2003

Senator The Honourable Lynette Eastmond
[Sunday, September 21, 2003]

The Small Business Community today begins another week of activities in order to focus attention on the Small Business sector in Barbados.
I am very pleased to be participating in these celebrations for the first time as Minister of Commerce, Consumer Affairs and Business Development. And I am grateful for the opportunity to share some of my thoughts with you about this most important sector.
I would however wish to start by extending my warmest congratulations to the President, Board of Management and Members of the Small Business Association for their work in support of the enhancement of the Small Business Sector in Barbados.
My Ministry has found in the SBA, a most valued partner in the development and the design of policies and programmes to facilitate the growth and viability of small businesses in Barbados.

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World Standards Day (WSD) 2003

The Honorable Lynette Eastmond, Minister of Commerce, Consumer Affairs and Business Development
[Tuesday, October 14, 2003]

Fellow Barbadians, today, 14 October, is being recognized all over the world by the Member Bodies of the International Organization for Standardization (ISO) as World Standards Day. The day marks the establishment of the ISO over fifty-five years ago. Barbados is pleased to join other countries in commemorating this year’s World Standards Day.
ISO is a worldwide federation of National Standards Bodies, at present comprising 146 members, one in each member country. The Barbados National Standards Institution is the Member Body representing Barbados.
The objective of ISO is to promote the development of standardization and related activities in the world so as to facilitate the international exchange of goods and services, and to develop cooperation in activities covering areas such as intellectual property, science, technology and economic development.

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Lynette's First Day

Reprinted from Nationnews.com
[Tuesday, August 26, 2003]

Minister of Commerce, Consumer Affairs and Business Development Lynette Eastmond spent her first official day on the job yesterday (at left).
The elegantly attired senator met with personnel in a familiarisation exercise at her Reef Road, St Michael, office.
“There are some very important sections within my ministry such as the Fair Trading Commission, National Standards, Science and Technology, and I will be having meetings with people in these departments during the coming days,” she said.
Eastmond took over the ministry after the sudden resignation last week of previous minister, lawyer Ronald Toppin.

Small Business Boost

Reprinted from Nationnews.com
[Wednesday, September 24, 2003]

SMALL BUSINESSES will benefit more from technical and financial assistance with the establishment of a financial charter between Government and the sector.
Speaking at a business forum and conference of the Small Business Association yesterday at the Sherbourne Conference Centre, Minister of Industry and International Business, Dale Marshall, said the charter would strengthen the relationship between Government’s financial institutions and the sector.
This move is intended to ensure that there is no hindrance in accessing financing.
He said that to enhance the delivery of financing to these sectors several measures were agreed upon, including the expanded capitalisation of Fund Access and the Enterprise Growth Fund.
The latter will see its capital base raised from $4.7 million to $10 million, while Fund Access’ ceiling on loans will move from $50 000 to $100 000.
The Enterprise fund would also be able to grant loans over $100 000.
The interest rates on loans has also been reduced for Fund Access, from 11.5 per cent to six per cent.
The minister chided business people, and said they should relinquish the perception that Government-supported financial schemes were for political gain and welfare.
“May I say here that the nurturing of synergies between one another, coupled with Government support organisations, render you all a force that is greater than if you function single-handedly. Coming out of this we see that being small does not equate to being at a disadvantage,” said Marshall.

Making Travel Right – Fair/Unfair

Fair Trading Commission
[Thursday, July 31, 2003]

Over the past weeks, the Fair Trading Commission has noticed that there has been a marked improvement in the advertisements placed in the newspapers by Travel Service Providers. It is evident that they are seeking to comply with the requirements of the Consumer Protection Act, 2002-20.
To assist and encourage further compliance, the Fair Trading Commission in furtherance of its mandate to protect and safeguard the interests of consumers, takes this opportunity to indicate to consumers:
the type of information they are entitled to, when using the services of Travel Service Providers.
the point at which they are entitled to have this information.
Prior to Purchase

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Eastmond: Key Role For Small Enterprises

Reprinted from Nationnews.com
[Wednesday, September 24, 2003]

THE Small Business Association has been a valued partner with its ministry in the development and the design of policies and programmes to facilitate the growth and viability of small business in Barbados.
So said Senator Lynette Eastmond in announcing the start of activities on Sunday for the small business community.
Eastmond Minister of Commerce, Consumer Affairs and Business Development said she was “ grateful for the opportunity to share some of my thoughts with you about this most important sector.
“My ministry has found in the SBA, a most valued partner in the development and the design of policies and programmes to facilitate the growth and viability of small business in Barbados.

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Hotel 'Safe' But Still Sorry

Reprinted from Nationnews.com
[Thursday, July 31, 2003]

The near $3 million in debt, for which the National Insurance Scheme (NIS) had sought to reclaim by scheduling a sale of furniture and equipment owned by Sam Lord’s Castle Resort, represents just a fraction of the hotel’s indebtedness.
Documents filed by chartered accountant Richard Lynch with the Supervisor of Insolvency this week on behalf of Grant Hotels Inc., the holding company for the Castle, revealed that the company owed more than 300 creditors $41.367 million.
The filing by Sam Lord’s effectively curtailed the auction sale by the Chief Marshal of the Supreme Court on behalf of the NIS, and the possible foreclosure by the Barbados National Bank (BNB) to protect its interest in the sprawling St Philip property that was once operated by the Marriott Corporation of the United States.
Other major creditors listed on the document filed included: the Commissioner of Inland Revenue – $1.487 million; Comptroller of Customs – $1.1 million; Marriott Corporation – $21.3 million; Caribbean Financial Services Corporation (CFSC) – $2.1 million; and BNB – $10.137 million.
Additionally, the company also owes World Publications – $23 974; Tropical Laundries – $35 095; Trident Wines – $24 932; Sleep Rite (B’dos) – $62 809; Stokes & Bynoe – $28 950; R.L. Seale – $68 494; Price Waterhouse Coopers – $65 000; Hotel Food Supplies $206 296; Cable & Wireless – $102 766; Barbados Water Authority – $74 036; Barbados Light & Power – $76 050; Barbados Business Machines – $63 000; and Barbados Beach Club – $46 324.
The “Notice of Intention to Make a Proposal” under Section 16 of the Bankruptcy and Insolvency Act, identified Grant Hotels Inc. as an insolvent company and appointed Lynch as trustee.
After much speculation last week that lawyers for Grant Hotels and the NIS might battle in court to stall any attempt to continue the auction, attorney for the NIS Patterson Cheltenham, QC, wrote Anthony Audain, lawyer for the hotel, saying he was satisfied the action taken mandated a statutory stay of proceedings.
“I will advise my client accordingly. However, I expect your client to comply with the very specific timetable set out in the act. Do not expect any concessions from me,” Cheltenham said.