Business

A Bridge for Shared Prosperity

Prime Minister Mia Mottley marked the form a success outlining that the key goals had been achieved and went on to state that “What matters is not so much the subject area but the attitude and approach, one for collaboration and two for de-risking, that we come now to today’s moment to be able to deal with. And that is the importance of today’s inaugural a free Caribbean trade and investment forum because it allows us to see how we can work together to unlock those very difficult issues that have only been made worse regrettably by matters beyond our control”

A partnership agreement between Afreximbank and seven Caribbean States is poised to bring investments and solidify and reinforce the bridge between the two regions. The establishment of African Caribbean business council will end in business to business matchmaking.

The partners pledged to implement strategic partnership between the business communities in Africa and the Caribbean through bilateral corporation engagement in trade, technology transfer, investment, innovation, tourism, transport, culture and other services.

Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, told participants at the opening that there had been tremendous progress in accelerating the membership of CARICOM nations in Afreximbank and that signature of a participant agreement would enable Afreximbank to operate in the CARICOM region and deliver concretely on the new vision.

“Once these arrangements are concluded and visible, we will also open an office here in the Caribbean. And if we do agree, the Bank will work with governments of the CARICOM to set up a Caribbean Exim Bank as an Afreximbank subsidiary or affiliate,” he said, adding that Afreximbank “envisages committing an investment of US$700 million in the Caribbean as soon as a regional office is opened.”

“We stand at the cusp of history to open a well of opportunities for Africa and the Caribbean and to leverage our individual and collective strengths towards the attainment of our shared prosperity,” Professor Oramah said. “The vision is clear. However, we must therefore be focused while recognising that there are so many hurdles to cross.”

He reminded the audience of the atrocities of the trans-Atlantic slave trade which saw many Africans enslaved and forcibly transported to the Americas and the Caribbean and highlighted the close links and shared history and identity of the African and Caribbean people.

Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank

“We will want to leave here with actionable proposals on how to open air and sea links between the Caribbean and Africa. We would like to leave here with concrete plans to open banking and payment rails, to see joint ventures for industrial projects, to deepen our commercial collaboration in the creative and commercial space, to collectively protect our intellectual properties to share knowledge and invest in climate adaption projects. We must be proud that this is a reunion arising out of a felt need, underpinned by a solid economic, cultural, historical rationale,” added Professor Oramah.

President Benedict Oramah added “We keep our promises, we didn’t travel all these thousands of kilometers to come and make a show. We came here for a purpose. Coming here is an investment towards that and the way we work, you have to realize the benefits of that investment …concrete results coming out to the commitment we make here.” President Oramah promised those present that in the next few months the everyone will see “actual things on the ground”.

Business

New Chief Executive Officer For Fair Trading Commission

The Fair Trading Commission announced the appointment of Brian Reece as Chief Executive Officer.

Mr. Reece joined the staff of the Commission as Director of Utility Regulation in August 2023. In that role he was responsible for managing the strategic goal of ensuring the efficient and safe provision of regulated utility services in Barbados. This included the supervision and leadership of a team of professionals focused on the National Renewable Energy Transition.

Mr. Reece is an Attorney-at-Law and holds an MSc. Environmental Engineering from the University of Manchester and LLB (Hons) from the University of the West Indies along with the Legal Education Certificate from the Norman Manley Law School. He is also a Member of the Institute of Environmental Management and Assessment.

Mr. Reece has twenty years of industrial experience, along with the Chairmanship of national regulatory advisory committees. (PR/GIS)

Business

Yantai Eyes Barbados for Zero-Carbon Island Collaboration

By Deanzer Roberts

In a passionate appeal for international partnership in the fight against climate change, Director of the Yantai Zero-Carbon Island Development Center, Hu Yibing, has outlined a bold vision for green and sustainable development during his remarks at the Zero Carbon Island Cooperation Conference held at the Accra Beach Hotel this week.

Speaking before a number of key stakeholders and development partners, Hu extended greetings from the coastal city of Yantai, China—proudly dubbed “Coastal Wonderland” and known for its striking natural beauty and forward-thinking environmental strategies.

“China fully understands the concerns of Barbados and other small island developing states in the field of climate change,” said Hu, echoing sentiments recently shared by Chinese President Xi Jinping during a meeting with Prime Minister Mia Amor Mottley. “Our purpose here is to promote green and low-carbon cooperation and contribute to the sustainable development of the island.”

Hu described Yantai’s landmark Changdao International Zero-Carbon Island project as a shining example of what’s possible when policy, innovation, and community unite. The island—already boasting net-zero greenhouse gas targets for 2035—has banned outside vehicles, transitioned heating from coal to electricity, and ensured that 100% of new buildings meet green standards. The initiative has already eliminated over 20,000 tons of coal usage annually, cutting carbon emissions by 52,000 tons.

Efforts also extend to marine and land ecosystems, with restored algal fields and seagrass beds, cleaner waters, and increased biodiversity—including a rise in migratory bird species. Waste management, aquaculture restructuring, and green tourism models have also played key roles.

The conference also spotlighted the International Zero-Carbon Island Cooperation Initiative, launched by Yantai during COP29 in 2024, with the support of 32 co-initiating global stakeholders. The initiative aims to unite island regions through shared green goals, ranging from renewable energy solutions to marine science collaboration and vocational training.

Hu revealed that Yantai is now taking another bold step by proposing the world’s first international organization focused solely on zero-carbon island cooperation. This new body, headquartered in Yantai, would be open to membership from NGOs, academic institutions, research bodies, and private enterprises worldwide—including those in Barbados.

“This organization will strengthen resilience to climate disasters, ensure island energy security, and support economic and social development through low-carbon industries and technologies,” Hu explained. Over 20 institutions and enterprises have already confirmed their participation.

Extending an invitation to Barbados, Hu emphasized the shared environmental destiny of island nations and regions. “Those who share the same aspirations will not regard mountains and seas as a distance,” he said. “Despite the distance, China and Barbados share a clear sea and blue sky.”

As Barbados continues to carve out its place as a climate leader in the Caribbean, the alignment with Yantai’s zero-carbon vision may offer meaningful pathways for collaboration—both in policy and practice.

Business

Barbados To Host 2025 Construction & Design Conference

The fourth Barbados Annual Construction and Design Conference (BACDC) is scheduled to take place September 24 to 27, 2025. This year’s conference will be held under the theme ofIntegrating Technology into Quality Construction and will also feature, for the first time, a dinner and awards ceremony.

The keynote speaker for the 2025 conference is Omar Mohamed, who is the Architectural AE/Specification Consultant, Caribbean Area for The Sherwin-Williams Company, and he will explore the topic “Accessing Innovative Coating Technology for Healthy Building Design”.

Elvina Rollins, Technical Officer with the TVET Council, organisers of the BACDC, noted: “We are pleased to partner with The Sherwin-Williams Company again this year. Sherwin-Williams is a company that makes innovation a major component of their business practices. Furthermore, they are very invested in their corporate social responsibility, of which educating the design community is a major focus.”

Speaking to the impact of the BACDC, Ms. Rollins emphasised: “Last year’s conference, which was held under the theme ‘Designing and Building for a Sustainable Digital Transformation’featured the key topic ‘Innovative Building Materials’ which highlighted the University of East London’s award winning ‘Sugarcrete’ project.

“We were therefore pleased to hear the Minister of Housing, Lands and Maintenance, Dwight Sutherland, during his remarks, applaud the University of East London on the ‘Sugarcrete’ project for its contribution to innovative, affordable, and sustainable housing materials.”

Ms. Rollins added: “Similarly, we expect this year’s conference to be just as impactful because we are seeking to share best practice information on how integrating technology can contribute to sustainable, quality construction.”

In keeping with the theme of the TVET Council’s 30th anniversary celebrations, Building Brighter Futures: 30 Years and Beyond, this year’s BACDC seeks to highlight sustainable practices through topics such as Green Infrastructure, Drone Construction Monitoring, and Historical Preservation and Adaptive Reuse in Architecture.

The itinerary for BACDC 2025, which will span four days, will include international, regional, and local presenters whose expertise covers design and construction areas. The conference programme will feature:

Opening Ceremony with keynote speaker Mr. Omar Mohamed of The Sherwin-Williams Company
Construction Open Day – September 24
Student’s Day – Career Showcase on September 25
Networking and Cocktail Reception – September 26
BACDC Awards Dinner – September 27.

The BACDC, which was launched in 2022, provides professionals and practitioners in the construction and design industry opportunities to update their knowledge and acquire Continuing Professional Development points, where possible. Attendees can participate in specialised education and training sessions that include workshops and seminars, led by industry experts.

These sessions cover the latest trends, technologies, and best practices in construction and design, thereby helping participants to stay ahead in this ever-evolving global industry. The BACDC also provides opportunities for career development, networking, promoting sustainability, and showcasing innovation. (PR/GIS)