Creative industry misunderstood globally - Bharath

(photo courtesy cott.org.tt)
November 6, 2013: The creative industries sector's economics, operations and commerical potential is not fully understood in many countries around the world, said Trade, Industry and Investment Minister, Wasant Bharath.
 
Speaking at the Copyright Organisation of Trinidad and Tobago’s breakfast seminar themed ‘Creators: towards a sustainable economy’ today the Trade Minister said that there is still very little understanding in countries across the world on the economics, operations and commerciality of the Creative Industries Sector.
 
He said "A study on the local music industry has shown that it is estimated to generate TT $169 million annually, employing some 5,600 persons.  At a national level, our Carnival remains by far the largest generator of revenues within the music/entertainment sector, producing TT $154 million and employing over 3,500 persons."
 
The Minister reemphasized that the sector, which encompasses film, fashion and music, has been identified by government as a sector for diversification.
 
Bharath said "Pillar five of the government's Medium Term Policy Framework 2011 to 2014 speaks to a more diversified, knowledge intensive economy - building on the native genius of our people."
 
He added that "for the local music industry to grow and develop, there must be a better understanding of the issues and obstacles that continue to plague the industry, with a view of implementing practical and effective solutions to these barriers to growth".
 
Minister Bharath said that following a year-long series of consultations, government established a new state enterprise under the Trade Ministry’s purview, the Trinidad and Tobago Creative Industries Company (CreativeTT).
 
"CreativeTT has the mandate to stimulate and facilitate the business and export activities of the local creative industries to generate national wealth. Additionally, under the auspices of CreativeTT, a subsidiary company - the Music Company of Trinidad and Tobago will drive the development of the music industry in Trinidad and Tobago which is a sector that fosters innovation and creativity," the Minister explained.
 
He added that "in the past, many successful music artistes have gone out there and made it on their own, taking our art form on the international stage.  The government seeks to correct this by providing the proper organizational support,
systems and expertise through CreativeTT which would support and guide local artistes and encourage young people to see the sector as a thriving, meaningful and profitable career option".
  
COTT is hosting a three day series of meetings with a delegation of international and regional copyright experts being led by the International Confederation of Authors and Composers Societies' Director General, Oliver Hinnewinkel.  The visit is a part of CISAC’s global outreach through member organisations to promote the interest of creators, intellectual property rights and discuss standards to protect music creators’ rights.
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