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Inniss: Barbados ideally placed to be gateway to Cuba


Inniss: Barbados ideally placed to be gateway to Cuba

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BARBADOS IS well placed to be marketed as the gateway to Cuba for US and other investors who may be ready to take advantage of the opportunities that an opening up of Cuba may present.

This opinion was expressed this morning by International Business Minister Donville Inniss as he addressed the fifth annual meeting of the International Business and Financial Services Sector, hosted by the Central Bank of Barbados at the Hilton Barbados.

“The knowledge that Barbados is one of the few countries which possesses Double Taxation Agreements (DTAs) and Bilateral Investment Treaties (BITS) with the United States of America (USA) and Cuba and their effective utilisation and impact on the international business environment among these states becomes more relevant to the international investor who wishes to do business with Cuba in light of the USA’s changing outlook.”

Before an audience that included Governor of the Central Bank, Dr. Delisle Worrell, President of the Barbados International Business Association, Connie Smith and strategic partners and stakeholders, the Minister said, “Given Barbados’ experience and knowledge in the effective operationalisation of these bilateral arrangements, it is well placed to provide an interface between those markets without stifling innovation and entrepreneurship, if well conceptualised and strategised.”

Stating that this country was well placed to attain its vision of being the international financial and wealth management centre of choice in the western hemisphere, he added that Barbados has “an ever increasing suite of product offerings, current and progressive legislation, requisite regulation and a highly knowledgeable and competent workforce”.  (BGIS)