Barbados deepens UK trade links amid push into new industries

Barbados is intensifying its efforts to attract British investment in renewable energy, space technology, and the creative industries, aiming to establish itself as a hub for emerging sectors amid shifting global economic dynamics. Speaking at the sixth annual UK Trade Mission to Barbados Business Forum, Minister of Economic Affairs and Investment Kay McConney highlighted the growing interest from UK investors, which now extends beyond traditional sectors like tourism and financial services. McConney emphasized the need to adapt to evolving global realities, citing World Bank data that predicts a doubling of energy investment demand in developing countries by 2035. Barbados’ economy has shown robust growth, with 17 consecutive quarters of expansion, as reported by the Central Bank in September 2025. To foster a business-friendly environment, Bridgetown has modernized public systems, digitized services, and implemented reforms to enhance efficiency and transparency. McConney stressed the mutual benefits of UK-Barbados partnerships, including job creation, skills transfer, and access to new market opportunities. British interest spans diverse industries such as financial services, ICT, agro-processing, renewable energy, construction, and manufacturing. Emerging opportunities in education, the blue economy, and innovation-driven fields like space technology and film were also highlighted. British High Commissioner Simon Mustard underscored the importance of strengthening trade and investment links amid global challenges, including geopolitical tensions and economic uncertainties. He encouraged collaboration in renewable energy, digital transformation, and small business development. UK-Barbados trade grew by 9% in the past year, reaching over $1.59 billion, with the UK targeting high-growth sectors like clean energy, advanced manufacturing, and creative industries. Mustard projected a 2.7% growth rate for Barbados in 2025, driven by tourism, construction, renewable energy, and digital transformation. He praised Barbados’ skilled workforce, strong legal framework, and commitment to innovation, positioning it as an ideal partner for the UK in building future industries.