first_img 3 Views   no discussions Share Share Sharing is caring! LocalNews Service vital to economic activity by: – March 7, 2012center_img Tweet Executive Director of the Dominica Coalition of Service Industries Lester Riviere has described the service industry as one which plays a pivotal role in facilitating all aspects of economic activity.Photo credit: logistics.avnet.comRiviere told the launch of the National Export Strategy (NES) and the Dominica Coalition of Service Industries (DCSI) on Monday, that often times the sector has been overlooked as a developmental opportunity, although it has been the fastest growing area of international trade.“In recent years, technological advances have had a tremendous impact on increasing trade in services, as many activities can be conducted online. Promoting trade-in services offer Small Island developing states like Dominica, the opportunity to diversify trade and contribute to job creation and economic development.”According to Riviere, statistics show that between 2008 and 2009 the service sector contribution to GDP was 50% and total exports close to 80%.“Increasingly, even in goods production, the major portion of the value added comes from services input, such as administrative services, research and development, engineering, advertising and accounting. In light of the enormous potential that the services sector has for economies like ours, in 2001 COTEC agreed on the elements of a plan which seeks to bring the trade in services on the same footing as that of trade in goods”.He also informed the official launching program that stakeholders are expected to meet later this month to further discuss how the services industry could further contribute to the overall development of Dominica.Dominica Vibes News Sharelast_img

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