Doing Business in Barbados

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

1. To analyze the Barbadian Economy and International 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 Higher Educational Programs taught by EENI Global Business School:

Masters (MIB): International Business, Foreign Trade.

Doctorate (DIB): American Business, World Trade.

Learning materials in: ( Barbados Barbados Barbados).

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

1. Barbados and the Caribbean Economic Area;
2. Association of Caribbean States (ACS);
3. Bolivarian Alliance for the Peoples of Our America (ALBA);
4. Caribbean Community (CARICOM)
   1. CARIFORUM-European Union (EU) Economic Partnership Agreement;
   2. Colombia-CARICOM Agreement (Barbados);
   3. CARICOM-Dominican Republic Free Trade Agreement (FTA);
   4. Costa Rica-Caribbean Community Agreement (Barbados).
5. Caribbean Basin Initiative
   1. United States-Caribbean Basin Trade Partnership Act (CBTPA).
6. Caribbean-Canada Trade Agreement (CARIBCAN);
7. United Kingdom-CARIFORUM Free Trade and Economic Integration Agreement;
8. Latin American and Caribbean Economic System (SELA).

Trade Facilitation Programs.

1. World Trade Organization (WTO)
   1. WTO General Agreement on Trade in Services (GATS);
   2. WTO Agreement on the Application of Sanitary and Phytosanitary Measures (SPS);
   3. WTO Agreement on Technical Barriers to Trade (TBT);
   4. WTO Agreement on Preshipment Inspection (PSI);
   5. WTO Agreement on Safeguards (SG);
   6. WTO Trade Facilitation Agreement (TFA).
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC).
3. International Bureau of Containers and Intermodal Transport (BIC);
4. International Civil Aviation Organization (ICAO, Chicago Convention);
5. International Maritime Organization (IMO);
6. Convention on the Carriage of Goods by Sea (Hamburg Rules, UN).

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

1. Community of Latin American and Caribbean States (CELAC)
   1. European Union-CELAC Summit.
2. Organization of American States (OAS);
3. Economic Commission for Latin America and the Caribbean (ECLAC);
4. Inter-American Development Bank (IDB).

Global Organizations:

1. Commonwealth;
2. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD);
   2. International Trade Centre (INTRACEN);
   3. World Intellectual Property Organization (WIPO).
3. World Bank (WB);
4. World Trade Organization (WTO);
5. International Monetary Fund (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 square kilometers;
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 / square kilometers;
   2. 93% of the population has an African origin (African Diaspora).
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 United Kingdom 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, United States, 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, United States, China and the United Kingdom.

(c) EENI Global Business School (1995-2023)
We do not use cookies
Top of this page