BARBADOS has been encouraged to tell the story of the excellent infrastructure of its financial services to the world.
Minister of Foreign Affairs Maxine McClean made the remarks at a media briefing, following her participation in the CARICOM heads’ talks with United States Secretary of State Hillary Clinton at Hilton Barbados, yesterday.
She said Barbados’ financial services sector had come under significant scrutiny following the fallout of the recent economic and financial crisis internationally.
The minister stressed this point during the talks and demonstrated that because of that exercise the country had been shown to be an exemplar in the sector.
McClean noted players in the industry operated under a very stringent regulatory framework and tended to demonstrate best practices. She said Barbados’ delegation asked that there be continued support for the country and it was acknowledged that Barbados had been doing a good job.
“It has been recommended to us that we should tell that story more,” she said, adding they had sought the assistance of Clinton as a lobbyist for Barbados’ position.
McClean stated one of the issues that came up was a suggestion that CARICOM should seek to attend G20 meetings as an observer, a stance which she explained could have significant benefits for Barbados.
She noted the principal issues which engaged their attention during the bi-lateral talks were security; health, with special focus on HIV/AIDS; social inclusion; the energy partnership and the green economy; and economic cooperation, trade and financial services.
McClean indicated that certain models looking at the alleviation of poverty were also examined, including some operational in Chile.
She said this involved looking specifically at issues affecting each household, since in some cases poverty had been shown to be inter-generational.
Among those on the Barbados delegation were acting Prime Minister Freundel Stuart, Minister of Social Care Chris Sinckler, Minister of Health Donville Inniss and Minister of Family, Youth and Sport Stephen Lashley. (WG)
