Barbados is currently playing host to a delegation of twenty-one representatives from Scotland and the United Kingdom (UK), who are on a mission to explore potential business and investment opportunities on the island. This initiative, known as the Trade and Investment Mission – Scotland to Barbados 2023, spans five days and brings together delegates from diverse sectors, providing a platform for networking and business development.
Now in its fourth year, the program aims to facilitate connections between entrepreneurs and foreign companies, encouraging them to deepen their engagement with Barbados. Participants are encouraged to consider establishing branches on the island or forming partnerships with existing businesses to expand their offerings. The initiative is a collaborative effort organized by Invest Barbados, Renfrewshire Business Network, and the UK Department for Business and Trade.
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A ceremony held at the Crane Resort in St Philip on Tuesday marked the official launch of the mission. Sandra Husbands, the Minister of State for Foreign Affairs and Business Development, addressed the delegates, acknowledging the challenges posed by the COVID-19 pandemic and international conflicts. Despite these challenges, she emphasized Barbados’ resilience as a Small Island Developing State with a robust business environment.
Husbands stated, “Our goal is to safeguard and preserve Barbados’ long-standing reputation as a credible and compliant global financial centre where investors can unreservedly establish and expand their business operations. We want to create an environment of mutual benefit, ensuring that Barbados prospers as you prosper.”
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Highlighting the Barbados government’s commitment to enhancing the business climate, Husbands discussed ongoing initiatives such as digitization across the public sector and the streamlining of processes for local and overseas entities. She mentioned the development of an electronic single window to facilitate business transactions quickly, offering a favorable climate for entrepreneurs to establish themselves in Barbados efficiently.
Acknowledging global challenges, Husbands noted the impact of international tensions on certain industries but affirmed Barbados as a beacon of bright prospects. Despite disruptions caused by the COVID-19 pandemic, conflicts between Russia and Ukraine, and recent events in Israel and Palestine affecting supply chains and causing inflation, she expressed confidence in the resilience of Barbados.
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In a notable announcement, Husbands revealed that Barbados would soon establish an embassy in Ireland, indicating the island’s expanding diplomatic reach.
Charley Williams, Deputy British High Commissioner to Barbados and the Eastern Caribbean, commended initiatives like the Trade and Investment Mission, highlighting their positive impact on the longstanding relationship between Barbados and the UK.
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