NASSAU, BAHAMAS — The Bahamas Trade Commission’s chairman has revealed that discussions have been held with luxury department store Harrods in London regarding a “pop-up” shop to allow Bahamian manufacturers to showcase their products in 2024, with sights set on possibly other high-end department stores in Europe and potentially the United States.
While addressing the Bahamas Insitute of Chartered Accountants (BICA) Accountant’s Week seminar Philip Galanis, the HLB Galanis managing partner, noted that this nation’s domestic exports are extremely limited, an issue that has plagued The Bahamas for many years.
He further revealed that the Bahamas Trade Commission has been working very closely with the Small Business Development Centre (SBDC) to identify companies they can assist in becoming export-ready.
“To that end, the Commission has been discussing with Harrods in London how we can have a have a pop-up shop. We are hoping to be able to do that next year. The pop-up shop will allow Bahamian manufacturers and producers to be able to showcase their products in Harrods. We think that is a great way for the British audience and European audiences to see what goods are available in The Bahamas and are not accessible to customers there,” said Galanis.
“We are looking at a number of other high-end department stores in Europe. We are thinking possibly of the United States as well so we can get our domestic goods exported much more efficiently.”
Galanis noted that The Bahamas’ trade deficit has consistently been in the range of $2 billion annually, with roughly $300 million in exports.
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