Doing Business in Barbados

The objectives of the subject «Doing Business in Barbados» are the following:

1. To analyze the Barbadian Economy and Global Trade;
2. To explore the Business Opportunities in Barbados;
3. To analyze the trade relations of Barbados with the country of the student;
4. To know the Free Trade Agreements of Barbados;
5. To develop a business plan for the Barbadian market.

The Subject «Foreign Trade and Business in Barbados» belongs to the following Online Programs taught by EENI Global Business School:

Masters: International Business, Foreign Trade.

Doctorate: American Business, World Trade.

Languages ( Barbados Barbados Barbados).

Preferential access and Free Trade agreements (FTA) of Barbados:

1. Barbados and the Caribbean Economic Area;
2. ACS;
3. ALBA;
4. CARICOM
   1. CARIFORUM-EU Agreement;
   2. Colombia-CARICOM Agreement (Barbados);
   3. CARICOM-Dominican Republic FTA;
   4. Costa Rica-CARICOM Agreement (Barbados).
5. Caribbean Basin Initiative
   1. The U.S.-Caribbean Basin Trade Partnership Act.
6. Caribbean-Canada Trade Agreement;
7. UK-CARIFORUM Free Trade and Economic Integration Agreement;
8. SELA.

1. WTO
   1. GATS;
   2. Agreement on the Application of Sanitary Measures;
   3. Agreement on Technical Barriers to Trade;
   4. Agreement on Preshipment Inspection;
   5. Agreement on Safeguards;
   6. Trade Facilitation Agreement.
2. WCO
   1. Kyoto Convention.
3. BIC;
4. Chicago Convention (ICAO);
5. IMO
6. Convention on the Carriage of Goods by Sea (Hamburg Rules, UN).

American Trade and Economic Organizations: Barbados is a member of...

1. CELAC
   1. EU-CELAC Summit.
2. OAS;
3. ECLAC;
4. Inter-American Development Bank.

Global Organizations:

1. Commonwealth;
2. UN
   1. UNCTAD;
   2. ITC;
   3. WIPO.
3. WB;
4. WTO;
5. IMF;
6. ...

1. Barbadian Capital: Bridgetown;
2. Barbados does not share land borders with any country;
3. Nearest countries to Barbados by sea: Saint Lucia, Saint Vincent and the Grenadines, Martinique and Trinidad and Tobago;
4. Barbados is away from the Atlantic hurricane area;
5. Area of Barbados: 430 km²;
6. Territorial organization (parishes) of Barbados: Christ Church, Saint Andrew, Saint George, Saint James, Saint John, Saint Joseph, Saint Lucy, Saint Michael, Saint Peter, Saint Philip and Saint Thomas;
7. Population of Barbados: 280,000 inhabitants;
   1. Barbadian Population density: 640 inhabitants / km²;
   2. 93% of the population has an African origin.
8. Official language of Barbados: English
   1. Bajan dialect;
   2. Spanish is increasingly used.
9. Abolition of Slavery in Barbados: 1834;
10. Climate of Barbados: tropical;
11. XV century: discovery and colonization by the Spanish;
12. XVII century: British colonization;
13. Type of government: Constitutional monarchy (Queen Elizabeth II, Commonwealth);
14. Barbados became independent from the UK in 1966.

Main religion in Barbados: Christianity Protestantism.

1. Anglican Church (40% of the population).

Barbados belongs to the Caribbean Economic area of the Western Civilization.

Barbadian Economy.

1. Barbados is considered the richest and most developed country in the Eastern Caribbean;
2. World Bank Ranking: high-income economy;
3. Barbadian GDP: 4,385 million dollars;
4. GDP per capita of Barbados: 15,676 Dollars;
   1. Barbados has one of the highest per capita incomes in America.
5. The main economic activities of Barbados are: tourism and sugar production (main export of Barbados);
6. The main crops are: yams, sweet potatoes, corn, cassava, and beans;
7. Off-shore finance and computing are important foreign exchange generators;
8. Small Light Manufacturing Industry;
9. 18,000 people work in the retail and distribution sector;
10. Construction boom;
11. Barbados is considered a tax haven (bank secrecy);
12. Barbados has the third largest stock exchange in the Caribbean;
13. Currency Barbadian: Barbadian Dollar (BBD);
14. Country code top-level domain of Barbados: .bb.

Barbadian Foreign Trade

1. Main Exports of Barbados: sugar, manufactured products and chemicals, molasses, rum, electrical components;
2. Main export markets of Barbados: Trinidad and Tobago, France, the U.S., Spain, Saint Lucia, Saint Vincent and the Grenadines, Venezuela, Antigua and Barbuda, Saint Kitts and Nevis;
3. Main imports of Barbados: oil, machinery, consumer goods, food, building materials, chemicals, electrical components;
4. Largest providers of Barbados: Russia, Trinidad and Tobago, Japan, the U.S., China and the UK.

(c) EENI Global Business School (1995-2023)
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