The Bermuda Post Office must provide high levels of service, increase efficiency and examine new revenue streams if it is to survive, according to Premier Michael Dunkley.

Opening the annual Caribbean Postal Union Conference, which is being held on the Island this week, Mr Dunkley this morning pointed out that the service globally was facing new challenges, and needed to adapt in order to remain relevant.

Speaking to around 50 delegates from the Caribbean region, Mr Dunkley said: The theme for this year’s conference is ‘Sustainability in the 21st Century’ and its sub-theme ‘Repositioning the Caribbean Post’, is a timely topic for all of us.

“For the past several years the global postal sector has experienced a growing deficit as a result of steadily rising operating costs, declining mail volumes and declining revenue opportunities. In the face of these challenges, virtually all postal sectors are seeking ways to reposition themselves to compete more effectively in rapidly changing markets.

“It is prudent for all of us to examine our business models, develop ways to increase efficiencies and to realise new opportunities to increase revenue. Furthermore to find the right balance between the efficient delivery of public services and the economies needed to sustain them. In recognition of these growing necessities, the Bermuda Government earlier this year announced the closure of three sub-post offices with effect from November 1, 2014.

“Like every business, the Bermuda Post Office must aim to consistently provide a high standard of customer service to both internal and external customers. After all, we live in a very competitive world with demanding customers who will use their purchasing power wherever they please.

“While Bermudians are known for our outstanding hospitality and service, we know that in this fast paced and changing world we must do all we can to keep our customers coming back. In addition, it is prudent to consistently measure our performance against competitors.

Mr Dunkley said he believed the conference, which is being held at the Bermuda Underwater Exploration Institute, will help the service “become more innovative, customer focused, sustainable and competitive”.

“Having reviewed the agenda and programme of events for this year’s conference, I have no doubt that the impressive list of speakers and the insightful agenda topics will provide the opportunity for those who are gathered here to examine the challenges confronting the Post and provide options for repositioning the Caribbean postal sector for a sustained and prosperous future,” he said.