As Barbados expands its promotional reach to re-engage the China market, Invest Barbados (IB) is part of the business delegation participating in the inaugural China International Import Exposition (CIIE), which started on November 5, and runs until November 10, 2018, in Shanghai.
The CIIE, which was conceptualised by Chinese President Xi Jinping, is designed as a means to support trade liberalisation and economic globalisation by actively opening the Chinese market to the world. The event will facilitate approximately 130 countries and regions from all over the world to strengthen economic cooperation and trade, and to promote global trade and economic growth.
IB welcomes another opportunity to collaborate with the Barbados Investment and Development Corporation (BIDC) in showcasing Barbados’ value proposition and the many products and business solutions that the country offers in the areas of financial services, international insurance, medical tourism, fintech, wealth management, and niche manufacturing, among others. In particular, Chinese investors favour Barbados as a preferred jurisdiction for opportunities in the extractive and wealth management sectors and regard the country’s high net worth individual programme as an added attraction.
The Barbados delegation is led by Minister of Small Business, Entrepreneurship and Commerce, the Hon. Dwight Sutherland, who is accompanied by Permanent Secretary in his Ministry, Mr. Terry Bascombe and Permanent Secretary in the Ministry of International Business and Industry, Ms. Sonia Foster. Other members of the team are Senior Business Development Officer of IB, Ann Mellows; two representatives from the BIDC, Manager, Export and Business Development, Mrs. Paula Bourne and Business Development Officer, Mr. Brian Layne, as well as business representatives from the University of the West Indies, The Caribbean Language Centre, 10 Saints Beer and Armstrong Manufacturing.
Barbados and China have enjoyed good diplomatic relations for almost 40 years, with the countries having both a Double Taxation Agreement and a Bilateral Investment Treaty in force. This strong relationship is reflected in the establishment of the Confucious Institute at the University of the West Indies, Cave Hill Campus, Barbados, which operates as a Chinese language testing centre for the Caribbean. In addition, Barbados and China permit visa free travel between the two countries.
IB is proposing further engagement with the Asian market in early 2019, focusing on Hong Kong and key cities in China.
Visit the Barbados National Booth at the CIIE in Country Pavilion # 5.2 to learn more about Barbados’ value proposition, trade and business opportunities, as well as to discuss specific areas of interest.
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