2024 UK Trade and Investment Mission to Barbados hosted at the Crane Resort last week

Barbados is positioning itself as a prime gateway for UK companies seeking trade and investment opportunities in the Caribbean. With its stable economy, modern infrastructure, and strategic partnerships, the island aims to solidify its role as a bridge between British firms and lucrative regional markets.

This commitment was emphasized during the launch of the 2024 UK Trade and Investment Mission to Barbados, hosted on last week by the UK Department for Business and Trade, Invest Barbados, and Renfrewshire Business Network at the Crane Resort. Renfrewshire, a historic industrial hub in western Scotland, is now a leader in advanced manufacturing and high-tech industries.

D’Jamila Ward, Regional Director for the Commonwealth Caribbean at the UK Department for Business and Trade, addressed business leaders from the UK and the region, highlighting the robust trade ties between the two nations. Ward pointed out that in the year leading up to the second quarter of 2024, bilateral trade totaled £560 million (around $1.42 billion USD). This makes Barbados the UK’s fourth-largest trading partner within the CARIFORUM region, accounting for over 11% of trade in the bloc.

“Despite the many polycrises, the near-term economic outlook of Barbados remains positive. I don’t need to tell you that it’s a great time to do business in Barbados, but I will. It is,” Ward said.

Ward applauded the significant contributions of UK companies to Barbados’ development, citing examples like ABAGO Limited, which has been instrumental in digitizing Barbados’ historical archives, some dating back to 1635. She noted that such initiatives demonstrate the UK’s long-term commitment to sustainable and mutually beneficial partnerships with Barbados.

“The UK is here in Barbados for long-term sustainable partnership. We are here for mutually beneficial relationships, and our actions reflect that commitment,” Ward said.