Business in Barbados. Barbadian Economy

1. Introduction to Barbados
2. Business in Bridgetown
3. Barbadian Economy
4. Barbadian Foreign Trade
5. Business Opportunities in Barbados
6. Access to the Barbadian market
7. Business Plan for 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 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 Trade Agreements (FTA) of Barbados:

1. Barbados and the Caribbean Economic Area
2. Association of Caribbean States
3. ALBA
4. CARICOM
   1. CARIFORUM-EU Agreement
   2. Colombia-CARICOM Agreement (Barbados)
   3. CARICOM-Dominican Republic Agreement
   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 (Containers)
4. Chicago Convention (ICAO)
5. IMO
6. Convention on the Carriage of Goods by Sea (Hamburg Rules, UN)

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.

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

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