Barbados is actively broadening its diplomatic and economic horizons to attract global investment, as the island nation shifts toward a greener and more diversified economic model. Speaking during a British trade mission to Barbados on Wednesday, Minister of Economic Affairs and Investment Kay McConney emphasized the government’s strategy to forge new partnerships across Africa, the Middle East, and Asia. This move is part of a broader effort to diversify the nation’s economic base and strengthen ties with both traditional and emerging markets. McConney highlighted that Barbados has already expanded its diplomatic relations with countries such as the United Arab Emirates, Qatar, and others, and is preparing to establish a physical diplomatic presence in India. The minister underscored that Barbados’ investment strategy is inclusive, welcoming funding from governments, private sectors, and international agencies. ‘Barbados is open for business to the entire world,’ she stated, emphasizing opportunities for all investors. While deepening ties with the United Kingdom remains a priority, McConney clarified that this is part of a comprehensive global strategy. Export Barbados CEO Mark Hill noted that UK companies are increasingly interested in Barbados’ green industrial initiatives, viewing the Caribbean as a prime location for sustainable development. Hill also highlighted the success of Barbados’ intellectual property investment program, which has attracted attention from European firms, including German companies. He projected that a $2 million increase in IP investment could yield an economic impact of $3 to $4 billion, aligning Barbados with global trends in decarbonization and innovation.
