1. travel
2. tourist destinations
3. caribbean

pg. 1
Mission
The Chamber’s mission:
“We are the trusted voice and heartbeat of the business community.”
Strategic Direction
Emanating from the strategic plan 2014-2017:

The Chamber will strengthen dialogue with its members and facilitate dialogue among the members
motivating change, entrepreneurship and thought-leadership by commentary based on empirical
evidence.

The Chamber will further assess the needs of its members to identify gaps or opportunities for shifts
in support and advocacy. This assessment will serve as the basis for expanding or adding new
services.

The Chamber will be a participant in all conversations of national importance.

The Chamber will emphasize building its discretionary financial resources to invest in providing
quality services and securing professional advice and assistance to strengthen its advocacy.

The Chamber will review and deepen its existing direct supports and services over time to ensure that
they are state-of-the art for working effectively with its stakeholders i.e. members, partners, funders
and government. The Chamber will renew its focus on its Secretariat to ensure that it has the skills
required to satisfy its thrust.

The Chamber will engage the major private sector investors and include them in dialogue with other
stakeholders and the policy makers to effectively advocate at the policy and legislative levels and to
fashion a consensus to move forward and bring life to the national social partnership.

The Chamber will take a leadership role in working with other private sector organisations to identify
and meet the needs of all member businesses. The focus will be to ensure quality across services and
increase value for members.

The Chamber will explore the feasibility of expanding the organization’s visibility in the community
and making greater use of volunteers. The organization will explore developing and supporting a
network of volunteers, being more active and visible in a wide range of community initiatives.
pg. 2
TABLE OF CONTENTS
Notice & Agenda of Meeting …………………………………… Page 4
President’s Message ………..………………………………….… Page 5
Executive Director’s Report ……………………………………...Page 7
2014 Highlights ………………….……………………………….. Page 8
Special Projects Report 2014 ……………………………………... Page 15
Partnerships ……………………………………………………..…Page 20
Secretariat …………………………………………………………..Page 23
Report of the Council 2014 …….…………………………….……. Page 24
Chamber Representation …………………………………………. Page 27
Council Members 2014- 2015 …..………………………….……… Page 28
International & Bilateral Trade Report 2014 …………………..… Page 30
Report of the Duty Free Scheme …...………………………….… Page 34
List of Members ..………………………………………………...... Page 35
Independent Auditor’s Report
………………………………... Page
Founded 1825
Incorporated 1868
Incorporated by BCCI Act 1983
pg. 3
The 189th Annual General Meeting of the Barbados Chamber of Commerce and Industry will be held at
10:00 a.m. on Wednesday May 27th, 2015 at the Hilton Barbados, Needham’s Point, St. Michael.
AGENDA
1.
2.
3.
4.
5.
Minutes of the Annual General Meeting held on Wednesday May 28th 2014 (attached).
Matters Arising from the Minutes.
President’s Report.
To receive the annual Report with Audited Statements for the year ended December 31, 2014.
Election of the Council for the year 2015 – 2016.
(a)
(b)
(c)
(d)
(e)
President.
Senior Vice President.
Vice President – Finance.
Vice President.
Twelve (12) other members to serve on Council.
6. Election of Auditors.
7. General Business.
*** Feature address will be delivered during the luncheon immediately following the meeting.
Lisa Gale (Mrs.)
Executive Director
pg. 4
PRESIDENT’S MESSAGE
During the last year, the Council of the BCCI made strides in focusing the efforts of
the Council and Committees through the development of a strategic plan for the years 2015 to 2017. A
comprehensive environmental review was completed which included feedback from members as well as a
wide cross section of stakeholders including other private sector organizations, government, the Opposition,
Labour and the wider business community. In short, the mission of the BCCI is to be the trusted voice and
heartbeat of the business community and we are committed to helping lead our country to prosperity.
One of the hallmarks of the BCCI continues to be our impartiality. This has been the foundation of our
organization and has aided in us being a trusted representative for all of our members as well as a trusted
participant in critical national discourse. This impartiality does not mean that we will stay silent when our
opinion on critical matters may be at odds with some of our stakeholders. What it does mean is that our
contributions will remain independent, unbiased and balanced. Above all, we will stridently represent the
interests of our members as a member-centric organization.
A clear call has come from all of our members - they expect that we will lead the business community with
sharp forward vision and thorough leadership. The sentiment has been widely expressed that leadership will
be critical in planning for Barbados’ social and economic development into the future. Planning for the
development of business in Barbados in 2020 and beyond must already be in train. We are tasked with
defining requirements related to education and training for a diverse and flexible work force to support
business. We must share our expectations and foresight as it relates to innovation and the use of technology
to build capacity for the domestic market and further afield.
Our main areas of focus for development for the last year and leading into the current year are as follows:
1. To strengthen national competitiveness through improved business facilitation.
2. To fuel growth through export based business development including tourism, international business
and traditional manufacturing.
3. To strengthen focus on development of the green economy and more specifically, renewable energy
and energy saving efforts.
Our membership has asked for our intervention on areas primarily related to business facilitation. While
business facilitation is a widely used phrase, we consider any issues which impact on the ability to do
business in Barbados to be related to this heading. To this end, we have had meetings with members,
Government technocrats and made a number of submissions to various ministries over the last year under
this focal point.
The matter of outstanding VAT refunds and very slow payment for goods and services by Government to
business has had a negative impact on a number of companies over the last year. The BCCI has encouraged
Government to pay interest on such outstanding payments in a shorter time frame than what currently
obtains. We have also proposed that Government consider the issue of debt instruments for those
businesses who are prepared to accept these if a viable secondary market exists for such instruments. The
pg. 5
circulation of cash is critical to the rebuilding of our economy and a pre-requisite for further investment.
While it has been made clear that Government’s cash flows are severely restricted, the spill over effect in
business can set back the national growth agenda to which we have all subscribed.
Included in our efforts to improve the business environment in the last year have been several calls for an
acceleration of the migration of paper based transactions to paperless. On line service provision by both
Government and the Private Sector will allow reassignment of valuable resources to more substantial work
while reducing costs and affording greater flexibility to the business community. It will also afford better
visibility of transactions at a national level which feeds into the country’s development strategy.
During the last year the BCCI has facilitated a feasibility study on the development of an alternative dispute
resolution centre for excellence to be located in Barbados servicing the needs of the business community
locally and regionally. The expectation is that such a facility will redirect some disputes away from the
traditional court system which is currently heavily burdened and costly to navigate.
In order to maintain competitiveness at a national level, the issue of the cost of doing business has to be
rigorously addressed. We have had some success in the past year with reducing and/or harnessing costs to
business. Business in Barbados is heavily burdened with tax and for us to make strides this cannot continue
unabated. We have argued successfully for the reduction in some charges related to the Solid Waste Tax as
well as charges related to overtime for Ministry of Commerce officers.
Our intention under the heading of business facilitation is to ensure that we have input and influence in the
efforts to move Barbados toward a 24/7 business environment. There are a number of aspects to allow for
proper support and readiness for such a system and we will stay engaged with the process as it progresses.
There are a number of issues which we have been engaged in related to export based business development.
We have proffered the requirement that concessions offered to the Tourism Industry are equally accessible
and supported by adequate legislation and regulations. To this end, we will continue to press for a
mechanism by which we can provide duty free food and beverage to hotels and restaurants qualifying for
concessions under the Tourism Development Act.
We have pushed for advancement of Duty-Free zoning for Bridgetown and the provision of a mechanism to
allow locals to make duty free purchases in foreign exchange to help support foreign exchange levels and
encourage additional domestic spending. Through the BCCI, we hope under this heading to see the abolition
of the Spirits Act to facilitate development of the Barbados rum industry in international markets and to
finally see resolution to the decades old challenge of sanitary and phyto-sanitary restrictions related to the
export of protein based products like chicken and fish to certain countries.
Finally, we wish to remain one of the leading voices in the push for the sustained development of the green
economy. The BCCI’s involvement in advancing this sector has been long standing and through the work of
our Green Committee, a number of initiatives will continue to be worked on in the coming year. The BCCI’s
Council and Secretariat serves 264 member companies representing 17,000 employees across a number of
sectors critical to our economy. Fifteen percent of our members are considered to be large employers with
greater than 250 employees. Eighteen percent of our members employ between 50 to 250 persons while 67%
of our members employ between 1 to 50 persons. The Chamber therefore represents all sizes of business in
all industries with equal enthusiasm and we once again pledge that we are open for business and looking
forward to serving you in the coming year.
pg. 6
EXECUTIVE DIRECTOR’S REPORT
The year 2014 can be characterised as an eventful year. For me, the biggest
takeaways were the growth in the economy and the many steps taken by our
membership to improve their respective business operations. For the first time in a number of years,
Barbados recorded positive growth, although 0.3% might be deemed a small figure I was pleased to see that
some marginal development took place in this area. We have had growth as a cross-cutting agenda item
throughout our major development planks for 2014 . We focussed our efforts on growth in the economy by
improved international competitiveness, increased export development, increased foreign exchange and
greater use of renewable energy and energy efficiency.
A closer review of the statistics show that some of this growth came through improved terms of trade.
Imports saw a large decrease while exports grew but in different proportions. This can be attributed to the
falling oil prices but is a positive development however we look at it. Given the increase in exports and the
decrease in imports, although not similar, Barbados definitely witnessed a boost to its foreign exchange
position. The positive tourism figures also played a role. We also witnessed a closer move towards the goal of
greater use of renewable energy nearly reaching the national goal of 29% renewable energy inputs. As we
sought to improve our international competitiveness we saw the legal system as a critical platform and
embarked on a feasibility study on establishing an Alternative Dispute Resolution (ADR) Centre in Barbados.
This Compete Caribbean funded exercise was completed in October 2014. We received very positive
feedback and are on stream to enter the second phase. We also signed an MOU with the Barbados American
Chamber of Commerce aimed at promoting trade, investment and development opportunities between
Barbados and Southern United States all part of improving our international competitiveness and bolstering
our export opportunities. It is therefore safe to say that several of our areas of focus experienced positive
developments for 2014.
We also led a commercial and political mission to Atlantic Canada and attended two international meetings
as part of our export development thrust and international competitiveness agenda. The Chamber hosted
visiting delegations, incoming missions and met with several international dignitaries all with a view to
continue to strengthen our partnerships and gain exposure for our members. There were many networking
opportunities for our members as the BCCI had a busy luncheon and seminar programme. In addition to
these activities, we were engaged in developing a new strategic plan. We took the opportunity to look inward
and to hear from our many partners. It was clear that more work needs to be done in the areas of member
retention and business development. We concluded that there is a need to strengthen our internal processes
as a means of maximising our outreach. We also need to work on revamping our many committees. The
main purpose of committees is to bolster the work of the Chamber.
There were many business issues faced by our members during the period under review. We maintained our
strong advocacy agenda and continued to interface with Government to ensure that members’ issues were
adequately addressed. Main issues again surfaced for the year were outstanding VAT refunds and other
government payments as well as low business confidence. We gained some 16 new members in several
sectors and also lost a number of members. A new President was elected during this year and brought new
vision building on the last few successive administrations. I take this opportunity to sincerely thank the
Council, the several sponsors, our staff and volunteers who assisted us in carrying out our various
programmes. Below is a snapshot of the major highlights during the year:
pg. 7
HIGHLIGHTS 2014
BUSINESS LUNCHEONS AND SEMINAR PROGRAMMES
The 2014 series of business luncheons provided the membership with in-depth discussion and analysis on a
wide range of issues impacting business and the wider community. The response to the various topics was
encouraging and provided much food for thought.
January 31st: In what has become a tradition, the Honourable Freundel Stuart Q.C, M.P
Prime Minister
of Barbados delivered the address at the January Business Luncheon as our featured speaker at the opening
of the luncheon programme for 2014. His address focused on ‘A Review of the Economy in 2013 and
Projections for 2014’.
One aspect of his presentation highlighted the trend of allocating taxpayer revenue to encourage businesses
to invest in Barbados. According to the Prime Minister, this may be over. He told the business community
that they now had to come up with a fresh approach if they wanted assistance.
As was anticipated this luncheon attracted a very good attendance. This event was sponsored by Axcel
Finance
From left: President Mr. Lalu Vaswani,
Executive Director Mrs. Lisa Gale and Prime
Minister of Barbados the Rt. Hon Freundel
Stuart, Q.C, M.P.
Prime Minister of Barbados the Rt. Hon Freundel
Stuart, Q.C, M.P. addressing the business
community.
pg. 8
February 26th:
The Honourable Gordon “Butch” Stewart was certainly an appropriate choice of
speaker in February. His vast experience in the hospitality sector provided an excellent backdrop for him to
share his perspective on “The Business of Tourism in Barbados”. Those attending thoroughly enjoyed
the interaction and were encouraged to build on the existing local product. This event was sponsored by
Williams Industries.
The Hon. Gordon “Butch” Stewart, OJ, CD, Hon
LLD chatting with President Lalu Vaswani prior
to the start of the luncheon.
The Hon. Gordon “Butch” Stewart, OJ, CD, Hon
LLD.
March 26th: With business centered on growing the economy, the Chamber invited newly appointed
Chairman of the Barbados Private Sector Association, Mr. Alex McDonald to expound his views on
“Growth and the Private Sector”.
Chairman of the Barbados Private Sector
Association, Mr. Alex McDonald,
A cross section of the audience.
pg. 9
April 30th:
The Chamber welcomed the Honourable Donville
Inniss, Minister of Industry, International Business, Commerce and
Small Business Development (pictured, right) to address the BCCI
luncheon. He delivered a comprehensive presentation on the
topic“International Business & Industry – The Way Forward for
Barbados.”
May 28th:
In keeping with the objective of instilling investor confidence, the Chamber looked to
Trinidad’s Minister of Trade, Industry, Investment and Communications & Minister in the Ministry of
Finance and the Economy Senator the Hon. Vasant Bharath to enlighten on “Successful Strategies for
Turbulent Economic Times - The Trinidad and Tobago Experience”.
Prior to the luncheon, there was the Annual General Meeting where a new Council led by Ms. Tracey
Shuffler was elected. She became the third female President and brought with her experience in sales,
marketing, general management and brand building. Tracey has served on the Council of the Barbados
Chamber of Commerce & Industry (BCCI) since 2010.
The occasion was the 188th Annual General Meeting of the BCCI. This event was sponsored by ICBL.
1
2
1: Trinidad’s Minister of Trade, Industry, Investment and Communications & Minister in the Ministry of
Finance and the Economy Senator the Hon. Vasant Bharath (right) being greeted by (from left)
Executive Director Lisa Gale, newly elected President Tracey Shuffler and Immediate Past President Mr.
Lalu Vaswani. 2: Minister Bharath during his address.
pg. 10
June 25th:
In June, Dr. Don Marshall Director (Ag) of the Sir Arthur Lewis Institute of Social and
Economic Studies was invited to weigh in on “Defending the Barbados Currency Peg – A Matter of
National Priority.” This event was sponsored by First Citizens.
1
2
1: Glyne Harrison, CEO of First Citizens Bank, Executive Director Lisa Gale, President Tracey Shuffler, Senior
Vice President Eddie Abed and Dr. Don Marshall. 2: Dr. Marshall presenting his views.
July 30th:
Companies looking to maintain market share and take advantage of business opportunities
amidst turbulent times were treated to a glimpse of how they could benefit from “Business Opportunities
in Difficult Economic Times”. Renowned expert Mr. Phil Walker provided insight on how organisations
could create opportunities for themselves under the present economic circumstances. This event was
sponsored by Caribbean LED Lighting.
1
2
1: Mr. Phil Walker, guest speaker at the July Business Luncheon. 2: The audience listening attentively to Mr.
Walker’s presentation.
pg. 11
September 24th: In September the Chamber organised a business breakfast to discuss “The Merits and
Demerits of a Formal IMF Programme” and invited a panel comprising Dr. Clyde Mascoll, Economist
and Lecturer at UWI; Mr. Ralston Hyman, Business and financial analyst from Jamaica; Mr. Ryan
Straughn BCCI Councillor and Chair of the BCCI’s Trade & Economic Policy Committee. Mr. Christopher
Sambrano, EY, Transaction Advisory Services Lead Partner was the moderator. This event was sponsored
by EY.
1
2
1: The panel. 2: The Merits and Demerits of a Formal IMF Programme proved to be quite a provocative topic.
October 29th: In what was deemed a “Sit-down” with the Business Community,” Attorney General
the Honourable Adriel Brathwaite Q.C., M.P. outlined his Government’s efforts to ensure that the legal
system supported a more enabling environment and discussed the challenges in rolling out appropriate
legislation in a timely manner. This event was supported by Chancery Chambers.
1
2
1: Attorney General the Hon. Adriel Brathwaite Q.C, M.P about to address the business community. 2: Sir
Trevor Carmichael (front) posing with members of Chancery Chambers and the BCCI.
pg. 12
November 26th: A lively address by the Hon.
Mia A. Mottley, Leader of the Opposition provided a
fitting climax to the 2014 luncheon programme. Entitled “Rallying Around the Broken Trident” the
Leader of the Opposition touched on the importance of dialogue between a government and its people and
the path to getting Barbados back on track, emphasizing that clear priorities must be set after a national
conversation.
1
2
1: Leader of the Opposition of Barbados the Hon. Mia Mottley, Q.C., M.P. 2: Some of the guests at the November
Business Luncheon.
SEMINARS
October 15th: In response to numerous concerns about accessing financing for business the Barbados
Chamber of Commerce and Industry (BCCI) teamed up with First Citizens Investment Services (Barbados)
Limited to host a half-day seminar on ‘Alternative Sources of Financing’. Presentations by the Caribbean
Export Development Agency, Central Bank of Barbados, Enterprise Growth Fund Ltd, First Citizens
Investment Services (Barbados) Ltd and Transforming Business Inc provided participants with variable
options to consider for financing their operations.
1
2
1: The panel.
2: Some of the attendees at the seminar.
pg. 13
November 12th: In an effort to bring clarity and to provide guidance to the application process the
Chamber collaborated with the Town and Country Planning Department to organise a seminar on ‘Town
Planning – Facilitating Business’. A number of architects, engineers, surveyors, building constructors
took the opportunity to get up to speed on the various steps of the review process, particularly what areas
required more detailed information. Participants were also afforded insight into Rain Water Harvesting
and Re-Use as well as the Critical Role Engineering Plays in the Construction Process. This event was
sponsored by Mahy.Ridely.Hazzard Engineers Ltd.
1
2
1: Director of Mahy.Ridley Hazzard Engineers Ltd Gregory Hazzard delivering the remarks.
2. Presenter Andrew Hutchinson explaining the concept of rain water harvesting.
OTHER EVENTS
Breakfast Briefing: This was a new initiative introduced by the Chamber to bring pertinent issues to the
fore and to equip members with the necessary skills to remain competitive. The first session was held on 11th
February 2014 and targeted companies faced with the challenge of doing more with shrinking budgets. The session,
entitled “Small Budget, Big Reach-Transform your business with cost effective Technology Solutions” drew
members from a wide cross section of industries eager to hear the presentation. This event was sponsored by Digicel
Business.
Lunch and Learn: Similar to the Breakfast Briefings, this event focused on providing hands on information
over lunch. It took place on Tuesday 17 June at the BCCI and was sponsored by the Competency Based
Training Fund (CBTF). The session reached out to the business community to garner support for its
platform of ‘investing in skills for the future’. The objective was to demonstrate how Re-training for the
Future could equip members of the business community to be able to:





Increase productivity.
Gain a competitive edge.
Improve customer service.
Expand market share.
Adapt to market changes.
pg. 14
MIX N’ MINGLES
These after-hours mixers continued to be popular among members and non-members and on Friday, 28
March 2014 the Chamber used the opportunity amidst a mixed gathering to introduce new member Fast
Cash Bim which also launched its operations in Barbados.
1
2
1: From left: President Mr. Lalu Vaswani, Mr. Michel Williams, Fash Cash’s Group Chief Executive Officer and
BCCI’s Executive Director Mrs. Lisa Gale. 2. Sponsor Fast Cash surrounded by the BCCI team.
World Environment Day Mixer: In observance of World Environment Day 2014, the BCCI, Government
of Barbados via the Ministries of Environment and Drainage and Industry, International Business,
Commerce and Small Business Development with support from the United Nations Environment Program
(UNEP) hosted an Industry Mixer on Wednesday, 4th June. On this occasion, the BCCI welcomed
stakeholders in Government, the Executive Director of the United Nations Environment Program another
UN dignitaries and thanked them for affording the event the priority given.
SPECIAL PROJECTS/NEW INITIATIVES
Walk the Talk: The Barbados Chamber of Commerce & Industry, the Barbados Employers
Confederation and the Small Business Association again teamed up to organise “Walk the Talk 2014. Walk
the Talk challenges participants to engage in a pedometer programme entitled “10,000 Steps to Wellness”.
The concept is that 10k steps per day equates to half an hour’s exercise which is widely accepted as the
amount of time one should engage in physical activity to maintain a healthy life-style.
Overall there was an increase in the number of companies participating in the second initiative and
competition proved very high among registrants.
pg. 15
Ms. Gale Alleyne of TVET Council emerged as the overall
winner of the Walk the Talk challenge and TOP FEMALE for the
second year running. She accumulated 5,040,535 steps. Close on
her heels was Mr. Johnson Johnrose of the Caribbean Tourism
Organisation whose 4,749,035 steps made him the overall TOP
MALE of the competition. (both pictured). Notable mentions
include:
TOP TEN individuals:
1. Gale Alleyne – TVET Council
2. Johnson Johnrose – Caribbean
Tourism Organisation
3. Winfield Walcott – Caribbean Tourism
Organisation
4. Felix Delice – TVET Council
5.
6.
7.
8.
9.
10.
Deon Thompson – Stansfeld Scott
Earl Heallis – Stansfeld Scott
Adrian Sealy – Invest Barbados
June Belgrave – Invest Barbados
Walter Burnett – Supercentre
Desmond Forde – Stansfeld Scott
TOP TEN companies:
1.
2.
3.
4.
5.
Supercentre
A1 Supermarkets
Unicomer
Stansfeld Scott
Caribbean Tourism Organisation
6.
7.
8.
9.
10.
TMR
Invest Barbados
TVET Council
Central Bank of Barbados
United Insurance (now Massy Insurance)
THE REVITALISATION OF BRIDGETOWN INITIATIVE (TRBI)
In 2014 TRBI focused on finalizing the implementation of the $150,000 Inter-American Development Bank
funded grant in support for the Revitalisation of Bridgetown which was started in 2013. The project was
intended to strengthen the work of the TRBI and create the capacity of coordination and collaboration of
private actors in prioritizing, financing and implementing business revitalisation. Activities under this funding
included:




The development of a business plan and strategy for the creation of an independent Authority to carry out the
revitalisation function
Development and pilot of three heritage tours
Development of City mobile application
Baseline survey and stakeholder mapping database
Consultants were engaged to undertake the activities above however the expected results were not achieved
due to various circumstances. As a result a decision was taken to close the project effective 9th March 2015.
pg. 16
In June, TRBI worked with City MP Col Jeffrey
Bostic to further its beautification initiative with
the “Colour our City Clean Campaign”. This
project aimed to provide more aesthetically
appealing garbage disposal facilities in the garbage
prone areas of Bridgetown. Students from St.
Ambrose Primary, St. Mary’s Primary School and
the youth of First Baptist Church worked with the
project to enhance their surroundings by painting
the cans. The initiative was supported by Harris
Paints Limited who provided the painting supplies
and McBride Caribbean Limited, who provided the
cans. Pictured at left are the partners.
TRBI partnered with the NCF to bring City-Fest
and the Ceremonial Delivery of the Last Canes to
Bridgetown. The event heralded the official start of
the Crop Over Festival and City-Fest saw the
transformation of Bridgetown into pedestrian only
space, with a cacophony of business, culture, food
and music from 10:00 am to 10:00 pm on Saturday
28th June. Events included a vibrant Heritage
Parade with the Ceremonial Delivery of the Last
Canes and evening shows on stage in Heroes
Square, music and much more. Pictured is the
Fashion Show from City Fest.
We also partnered with Digicel to bring Digicel Christmas Village to Heroes Square during the month of
December. This began with a parade through the streets of Bridgetown on December 5th, followed by a
concert in Heroes Square. In January 2015 BCCI partnered with Settlers Season for Go for Gold Treasure
Hunt which took place on 25th January. The event took place throughout the UNESCO Historic Site and
received assistance from Cave Shepherd, Sole Addiction, Sparkles Jewelry and LIME Barbados.
MISSIONS/VISITS/CONFERENCES
Trade Mission to Canada: As part of its commitment to promote trade development opportunities, increase
investment opportunities and exchange best practices with Atlantic Canada, the Barbados Chamber of Commerce and
Industry mounted its second mission to Halifax and Prince Edward Island from 24-30th May in keeping with the spirit
of Memorandum of Agreement signed with the Greater Charlottetown Area Chamber of Commerce. The mission
was lead by the Honourable Donville Inniss, Minister of Industry, International Business, Commerce and Small
Business Development and included:
pg. 17









Permanent Secretary, Ministry of Commerce and Small Business Development, Mr. Philmore Best
Barbados Chamber of Commerce and Industry – Miss Carol D. Charles, Business Development
Officer
Barbados Investment and Development Corporation – Ms. Leslie Austin, Business Development
Officer
Canadian High Commission in Bridgetown –Mrs. Doreen Weekes, Trade Commissioner
Barbados American Chamber of Commerce (BACC) – Mrs. Barbara Brathwaite, President
Hotel Food Supplies – Mr. Eric Smith, Purchasing Manager
Simplified Apps – Mr. Curtis Padmore, CEO/Founder
Zenith Group – Sonia Hunte, Director
Four Seasons Colonade –Ms Alison Adams, Interim Secretary.
The itinerary developed for the group afforded them a unique opportunity to meet with leaders of Nova
Scotia business, culture and industry and put into perspective the effectiveness of public/private partnerships
in Prince Edward Island (PEI) to ensure that business works there. Mission highlights included:
Halifax



Tour and Presentation of Halifax International Airport (focus on cargo and cold storage)
Tour of Port of Halifax and Presentation on the Halifax Gateway Initiative
Tour and Presentation of the Innovacorp Enterprise Centre (research and incubator facility)
Prince Edward Island (PEI)







Chamber of Commerce Mixer – Glasgow Hills Golf Resort
Meeting with the Greater Charlottetown Area Chamber of Commerce’s (GCACC)
Presentation on the Culinary Institute of Canada and Tour of Canada’s Smartest Kitchen (key role in food and
hospitality sector development)
The Culinary Institute of Canada: Lunch at the Lucy Maude Montgomery Dining Room and presentations on
PEI 2014 Celebrations and PEI Culinary Tourism
Tour of Holland College (key role in providing relevant educational curricula and training programmes in
support of the key industry sectors and the province’s economic development priorities). Insight into
Heritage Retrofit Carpentry and Energy Systems Engineering Technology programmes.
Tour of National research Council Institute/incubator (key institutional role in supporting bioscience sector,
innovation, research and development.
Visit to the Climate Change Research Lab: Introduction to CLIVE (the interactive Coastal Impact
Visualization Environment)
An interesting factor during the mission was discovering that both Halifax and Prince Edward Island have
medical facilities which bear a similar name to Barbados’ own Queen Elizabeth Hospital.
Honourable Donville Inniss and other mission
participants enjoying the hospitality of their Canadian
Hosts at the GCACC’s after hours mixer at the Glasgow
Hills Golf Resort, Prince Edward Island.
pg. 18
Overseas Conferences
Trip to Brazil: Executive Director Mrs. Lisa Gale participated in the Latin America and the Caribbean
Global Summit 2014 held in Sao Paulo, Brazil on 10 June 2014. This event brought together some of the
most important business and government leaders worldwide where present and future opportunities for
investment and development in Latin America and the Caribbean was discussed.
While in Brazil, Mrs. Gale also attended the Americas Business Dialogue, a private sector driven initiative
facilitated by the Inter-American Development Bank (IDB). Its
purpose was to promote a high-level public-private dialogue on the
priorities, opportunities and challenges of the region’s social and
economic development.
The meeting emerged as an outcome of the First CEO Summit of
the Americas, held in Colombia in 2012, which brought together 13
Heads of State and more than 700 business leaders, setting a
hallmark in the public-private dialogue of the region. Since then,
the IDB has been working closely with some of the region’s
business leaders and associations to consolidate a high-level
dialogue mechanism and build a private sector shared agenda.
Participants in this year’s dialogue included the Canadian Council
for the Americas (CCA) and the U.S. Chamber of Commerce
(USCC) among many others. BCCI was pleased to be among the
institutions invited to share in this important dialogue. Pictured at
right is the Executive Director with IDB President Mr. Luis
Alberto Moreno.
pg. 19
Meeting in Trinidad & Tobago: Executive Director Mrs. Lisa Gale and President of the Barbados Private
Sector Association (BPSA) Mr. Alex McDonald represented Barbados’ private sector at the VIII Americas
Competitive Forum (ACF) and the Meetings of the Inter-American Competiveness Network (RIAC) in
Trinidad & Tobago from 8-10 October 2014.
This forum is considered one of the most important annual gatherings of government authorities, private
sector leaders, entrepreneurs and academia in the Americas. It is viewed as an opportunity to use the region’s
collective imagination and capacities to expand cooperation across the region while building on a common
agenda of creativity, innovation and entrepreneurship as the fundamental blocks to economic prosperity. Its
keynote speakers, panel discussions, networking spaces, workshops and RIAC meetings provided
participants with a unique space to develop partnerships and to fuel innovative strategies based on new
paradigms and the exchange of knowledge. It is also the first time that the event was held in the region. By
attending the forum, BCCI’s Executive Director Mrs. Gale gathered information on the non-traditional
sectors, built on some of the existing relationships and forged more linkages for the local private sector with
a view of contributing to the development of Barbados’ human capital, which she described as “critical to
growth.” This year’s ACF theme is “The Human Imagination at Work: Driving Competitiveness,
Powering Innovation.”
2
1
1: Pictured from left: Mrs. Lisa Gale, Mr. Alex McDonald and Ms. Kim Tudor.
2: Trinidad and Tobago’s Minister of Trade, Industry, Investment and Communications & Minister in the Ministry of
Finance and the Economy Senator the Hon. Vasant Bharath (left) and Executive Director Mrs. Lisa Gale.
PARTNERSHIPS
Partnerships are relationships between business/people and the Barbados Chamber of Commerce and
Industry (BCCI) believes that the success of its partnerships with its members and stakeholders can be
attributed to the fact that both sides see the relationship as an investment. During the year, the BCCI rolled
out a number of activities and without the investment by strategic partners these alliances would not have
been able to reap shared rewards.
pg. 20
We salute our partners and sponsors in 2014 who took the time to invest in success!
Axcel Finance, Williams Industries, Fast Cash Bim Ltd, Insurance
Corporation of Barbados Limited (ICBL), Competency Based Training Fund
(CBTF), First Citizens Bank, Ministry of Industry and International Business,
Caribbean LED Lighting, EY Management, First Citizens Investment
Services (Barbados) Ltd, Chancery Chambers, Mahy Ridley Hazzard
Engineers and Signia Financial Group Inc., Platinum Offshore Management,
Digicel Business, Inter-American Development Bank, Hilton Barbados
Resort, The Crane, Stansfeld Scott, Surfside Gym, Massy Stores Home, Prince
Edward Island, Scotiabank, Barbados Employers’ Confederation, Small
Business Association, Boyceterous Catamaran Cruise, University of the West
Indies, Greater Charlottetown Area Chamber of Commerce, BarbadosAmerican Chamber of Commerce Atlantic Opportunities Agency and the
Government of Canada, NISE, Harris Paints, McBrides Caribbean Ltd, Royal
Barbados Police Force and the NCC.
MOU with Barbados Youth Business Trust
Global Entrepreneurship Week 2014: The Barbados Youth Business Trust (BYBT) joined counterparts in
over 130 countries from 17th-22nd November to celebrate Global Entrepreneurship Week 2014. On
Tuesday, 18th November the Barbados Chamber of Commerce and Industry (BCCI) partnered with the
BYBT and hosted what has now become the Annual Teachers’ Forum under the theme “Increasing
Partnerships and Improving Networks”.
Mr. Jonathan Ortman, President Global Entrepreneurship Week in his outlook for 2014 opined that the
challenge was for GEW Global to ‘better support a maturing collection of entrepreneurial ecosystems
around the world’. To address these developments GEW sought to:



Expand the number of communities of entrepreneurs
Increase understanding between the new and traditional elements of emerging startup communities
Connect emerging communities with the next generation network of world-class entrepreneurship research
institutions
pg. 21
MOUs With BACC and UWI
In January, the Barbados Chamber of Commerce and Industry (BCCI) signed two Memoranda of
Understanding to strengthen its relations in the areas of commerce and education with the BarbadosAmerican Chamber of Commerce (BACC) and the University of the West Indies (UWI) respectively.
Under the objectives of the Memorandum of Understanding
(MOU) with the Barbados-American Chamber of Commerce the
BCCI agreed to promoting trade, investment and development
opportunities and further develop business, innovation and
socio-cultural relations between Barbados and Southern United
States. In addition the BCCI will use its vast experience and best
practices to shepherd the BACC.
Pictured is BCCI President Mr. Lalu Vaswani (sitting, left)
and Mrs. Barbara Bratwaite signing the agreement.
Looking on is Executive Director Mrs. Lisa Gale (standing
left) and a member of the BACC.
Under the agreement, with the UWI both parties have agreed to
utilize resources in support of the development of initiatives for
the advancement of research for the business community,
coordinating seminars/workshops and creating internship
opportunities for undergraduates.
Pictured is: Seated left: UWI’s Dr. Justin Robinson and
Executive Director Lisa Gale. Standing from left are Sonia
Mahon of the UWI and BCCI President Mr. Lalu Vaswani.
pg. 22
Secretariat
The team at the Secretariat continued to interface with members and partners to develop and execute the
work of the Chamber in 2014. The full staff compliment during 2014 was:
Executive Director
Mrs. Lisa Gale
Business Development
Officer
Miss Carol D. Charles
Senior Accounting Officer
Mrs. Eudene Wright
The Revitalisation of
Bridgetown Initiative Project Coordinator
Miss Fabianna Alexander
Administrative Assistant
Miss Alicia Simmons
Marketing & Communications
Officer
Mrs. Kim Morris
Office Attendant
Miss Yvonne Cox
pg. 23
REPORT OF THE COUNCIL 2014
The 188th Annual General Meeting took place on May 28th 2014 and at that meeting Ms Tracey Shuffler was
elected President. Ms Shuffler became the third woman to be elevated to the chair in the organisation’s
history. Joining her on the Executive were Mr. Eddy Abed, Senior Vice President, Mr. Ricky Went, Vice
President-Finance and Mr. Edward Clarke, Vice President. Twelve other members were elected to the
Council for the year 2014-2015. The full list of Council can be found on pages 27 and 28.
MEETINGS
Executive Council: During the year the Executive Council met on eight (8) occasions. It considered the
implementation of a new strategic plan for the period 2014-2017, strengthening partnerships and alliances
within the private sector and the Chamber’s financial position.
Council: Council met eight (8) times to discuss the impact which the economic slump was having on
members and to agree on the approach to provide effective representation to membership. It also advised on
the interface with Government and the way forward.
Committees: The Committee system continues to be the key in strengthening the work programme and
advocacy provided by the organisation. A number of committees experienced challenges in fulfilling their
objectives. The following outlines the scope of the outreach of various Committees.
Trade and Economic Policy Committee: The committee is chaired by Mr. Ryan Straughn of Abelian
Consulting Inc and has a mandate of assessing the impact of trade, finance and economic issues that may
influence the business climate in Barbados. During the past year, the committee continued to support the
Chamber in its development of economic policy and the promotion of matters of economic interest to the
wider membership. The committee contributed to the BCCI recommendations as part of the pre-budget
consultations held with the Ministry of Finance and Economic Affairs in preparation for the Budgetary and
Financial Proposals 2014. However, no presentation was laid in Parliament and as a result none of the
recommendations aimed at generating growth in the economy successfully became policy.
Green Committee: The Green Committee members comprised of Mr. Peter Thompson, Mr. Robert
Hinds, Mr. Hallam Edwards, Mr. Richard Goddard, Ms. Gillian Charles-Gallop, Mr. Dave McGregor, Ms.
Ariana Brown, Mr. David Green, Mr. Brian Crozier and Mr. Morton Holder. The Chair was Mr. Jim Reid of
Caribbean LED Lighting. During the year, the committee focused on the following issues, working with the
Division of Energy, BREA and UWI:




Schools initiative – raising awareness and education on Renewable Energy technology. This initiative was led
by Hallam Edwards
Clarity on incentives available for energy efficiency (EE) and renewable energy (RE). This project stalled as
there was uncertainty regarding what was available. The Division of Energy confirmed that they were hiring a
consultant to work through this and promised to report back. The results of this outcome are still pending.
Working with BREA to raise awareness in the business community on EE &RE. More specifically we have
ensured that we aligned with BREA to maximize our combined efforts
Working with BL&P and UWI to create alignment on “One Plan” for a totally renewable energy Barbados
pg. 24
The committee drew on the resources of additional committee members with specialist skills and experience
to help move it forward, notably Dr Tom Rogers (UWI), Dr Olav Hohmeyer (UWI), Mr. Jerry Franklin, EN
Smart Inc. and Mr. Simon Richards of Megapower, importer of the Nissan Leaf Electric vehicles. The
committee is desirous of making an impact and a difference working with all the stakeholders on the “One
Plan” concept for a totally renewable energy powered Barbados.
Member Relations Committee: The Membership Relations Committee (MRC) re-commenced operation
in January 2014 when most of the new members and some former members met to discuss the previous
activities of the MRC, pending actions and future plans. The three main areas of focus of the MRC for 2014
were decided as follows:



Roll out / launch of the Code of Ethics
Membership Drive
Outreach to members
The Code of Ethics (COE) had been previously drawn up and circulated to the Council but due to the length
of time since the COE was reviewed, it was submitted to Council for ratification. Minor changes have been
suggested and agreed by the MRC and were incorporated before the wider roll out to members. The COE
was tabled and adopted at the 187th AGM of the BCCI in May 2014. Subsequent discussions at Council
recommended that the COE be forwarded to the Barbados Employers Confederation for oversight prior to
circulation. The MRC agreed to co-opt the Barbados Employers Confederation (BEC) to revise the Code to
include the areas of the International Labour Organisation’s (ILO) Core Conventions and Standards for
Decent Work, in addition to elements of Labour Legislation pertaining to Harassment in the Workplace and
Employment of Persons with Disabilities and Persons Living with HIV and AIDS. This committee is chaired
by Mr. James Clarke of TMR Sales and Services Ltd.
Food Group: The status of the Memorandum of Understanding for concessions to Hotels on duty and
VAT and its impact on distributors continued to occupy the group during 2014. The process of delivery of
goods to hotel’s bonded warehouse presented problems as there was no way to police the transfer, in
addition, having Customs Officers on premises for same day delivery would incur additional expense. It was
agreed to reach out to the BHTA to find and equitable solution. A new Chair was identified at the end of
2014 for the BCCI’s Food Group. Mr. Glenn Taylor of Massy Distribution accepted the nomination and
agreed to support and lead the group.
Legal Affairs Committee: In light of the time constraints of the persons on the Committee, the focus
continued to be the ADR Feasibility study. The feasibility study regarding establishing an ADR centre in
Barbados was completed in October 2014 and a stakeholder meeting held in November 2014.
There was considerable support from the stakeholders for the conclusions presented by consultant Baria
Ahmed, that such a centre is desirable and that its services should be offered to the Eastern Caribbean
islands. Indeed, the study revealed that there was some interest from these islands in supporting a centre in
Barbados. BIBA was also supportive. At a subsequent meeting held with President Tracey Shuffler,
Executive Director, Lisa Gale, consultant Baria Ahmed and Legal Affairs Committee Chair, Glenda
Medford, it was recommended that:
pg. 25


The BCCI set up a company to spearhead the progression of the ADR centre
The company directors should include representatives from the BCCI and a few companies which expressed
an interest in the project
It was recognized that a budget and funding for an initial two year period were needed to progress this
initiative, and the support of the BCCI Council was required. In addition, someone would have to be
identified and paid to do the initial leg work to move the Centre forward. Baria Ahmed expressed an interest
but there was no detailed conversation regarding what it would take for her to come on board. Ms. Ahmed
also cautioned that depending on the funding obtained, the Centre might not be self-sustaining in the first
three years even if the rollout was phased, but the main focus would have to be promotion. A further
discussion with Compete Caribbean is planned to explore other funding opportunities for consideration by
Council.
Ms. Medford was invited to attend a workshop held by IMPACT Justice in Trinidad from 13 to 14 March
2015. The Improved Access to Justice in the Caribbean Project was initiated by the Caribbean Law Institute
Centre led by Professor Velma Newton. The primary focus of the project is the drafting of a model domestic
Arbitration Act which would hopefully be adopted by the CARICOM states.
Health and Wellness Committee: The Health and Wellness Committee, now chaired by Ms. Dionne
Licorish, once again focused on the well-being of employees in the workplace. The BCCI in conjunction
with the National Initiative for Service Excellence (NISE), Barbados Employers Confederation and the
Small Business Association (SBA) joined forces to present Walk the Talk 2014: 100 Days to Wellness.
Walk the Talk challenged employees to walk a minimum of 10,000 steps a day using a pedometer to chart
their progress. At the end of the 100 days, the person recording the most steps was declared the winner.
Walk the Talk began in 2013 in response to the growing epidemic of chronic non-communicable diseases
amongst Barbadian employees. It was costing large sums of money in health care and affecting productivity
due to lost days. The Health and Wellness committee of the BCCI decided to address this matter by
encouraging employees to get fit using a safe and easy approach. Walking is considered a great exercise that is
simple to do without requiring costly equipment. The idea to reward the person making the most steps using
a pedometer was born and the moniker “Walk the Talk” applied to the programme.
The Social and Community Committee:
membership.
This committee was unable to meet due to diminished
Duty-Free Committee: The Committee met early in the year to develop an action plan to attract more
cruise passengers into Bridgetown. The Committee Chair Mr. Michael Grant stepped down following the
annual general meeting and a replacement has not yet been identified.
Business Environment Committee: There was no activity within this committee for the reporting period.
pg. 26
CHAMBER REPRESENTATION ON BOARDS AND COMMITTEES
2014-2015
Advisory Committee for Business Studies (SJPP)
Business Development Officer
Richard Cozier
Barbados Stock Exchange
Roxanne Brancker
Barbados Council for the Disabled
President, Executive Director
Board of the Barbados Private Sector Association
BIMAP Advisory Council
BNSI Labelling Standards
Barbados National Committee of the Caribbean
Examinations Council
CIEX Productive Sectors Task Force - Ministry
of Foreign Affairs and Foreign Trade
Customs/Trade/Finance/Consultative Committee
Executive Director/Alternate
Jared Wright
Executive Director/Alternate
Executive Director
Michael Grant, Lalu Vaswani,
Adrian Beckles
Executive Director/Alternate
Department of Emergency of Management
National Coordinating Committee
Executive Director
IDB Civil Society Advisory Council
Executive Director/Andy Armstrong
IDB Steering Committee Barbados Competitiveness
Programme
National CODEX Committee
Heather Farrell
Executive Director
National Task Force on Trade & Business
Facilitation
Social Partnership/Subcommittee of Social Partnership
Tourism Advisory Council
President/Executive Director
Executive Director
pg. 27
EXECUTIVE COUNCIL: 2014-2015
Tracey Shuffler
President
Eddie Abed
Senior Vice President
Lalu Vaswani
Immediate Past President
Edward Clarke
Vice President
Ricky Went
Vice President - Finance
Lisa Gale
Executive Director
pg. 28
COUNCIL: 2014-2015
Goulbourne Alleyne
Insurance
Roger Archer
Finance
s
Roxanne Brancker
Other
Sharon Christie
Commerce/Manufacturing
Nicholas Mouttet
Commerce
Peter Downes
Other
Ryan Straughn
Other
Patrick Hinkson
Telecommunications
Charles Tibbits
Professional Services
Nicolas Mouttet
Commerce
Harriet Walrond
Renewable Energy
Ezra Prescod
Energy
Jared Wright
Commerce
pg. 29
INTERNATIONAL & BILATERAL TRADE REPORT
GLOBAL TRADE AND ECONOMIC OUTLOOK
The International Monetary Fund, through its World Economic Outlook, remains optimistic about global
growth in 2015, although diverging patterns exist across economies. Nevertheless, there are some factors
including: lack of investor confidence in some economies, inflation, currency depreciation, and vulnerabilities
in oil exporters which must be monitored and addressed, if the overall growth projections are to actualise or
even increase. The World Economic Outlook projected that the world’s economy will grow by 3.5% in 2015,
picking up from 3.3% growth in 2014.
The projected growth rate is slightly (0.3%) lower than what was estimated in October 2014. Readjustments
to the projections were caused by increased volatility and uncertainty in major economies such as Japan,
China, Russia and those in the Euro area. For example, the Euro area, which is the biggest economic union
in the world, experienced currency depreciation, inflation, high interest rates and decreases in investment.
Increased geopolitical tensions in Russia and the Middle East have also affected the forecast. Meanwhile,
weaker growth in emerging markets in the export sectors pulled the growth projections downward. In
addition, the decline in oil prices has caused investment in oil exporting countries to recede, affecting the
overall global growth percentage.
Recovery Prospects Brighter in Some Economies
On the upside, the United States’ economy is projected to grow by 2.9% in 2015. At the end of 2014: the U.S
GDP recorded a growth of 5%, there was the creation of three (3) million new jobs, the deficit was down by
two thirds, ten (10) million more Americans received health care coverage and export levels remain
substantial. Growth in the U.S creates numerous benefits for other countries such as Barbados because of
the demand it creates for our goods and services. The U.S is Barbados’ second largest export partner, the
CARICOM grouping being the first. As it pertains to the U.S growth strategy for 2015, the country will be
placing an emphasis on export led growth. Consequently, the U.S will be focusing on the aggressive pursuit
and implementation of trade agreements to further facilitate growth in 2015.
More importantly, the decline in oil prices is expected to boost growth in some economies over the next two
years by increasing the purchasing power and demand in oil importers. In addition, the Euro area is expected
to recover at a faster rate as the year progresses due to a big decision taken by the European Central Bank
(ECB) to facilitate quantitative easing in an effort to: meet inflation targets, attract investments and generally
address broader financial stability issues. Emerging economies, such as Brazil, are undertaking measures to
assist in promoting global growth. Brazil is introducing measures to promote confidence and certainty in the
market in an effort to welcome investors. Moreover, Brazil will be actively pursuing reform to make it easier
to do business in that country. Barbados must follow this approach if private sector led growth is to be
pg. 30
achieved in 2015. In 2014 it became harder to do business in Barbados. In the World Bank’s Ease of Doing
Business Report 2015, Barbados’ ranking decreased from 91st to 106th out of 189 countries.
Recommendation for the Developing World
In the developing world, technology has to be a driving force if countries are going to remain relevant as it
pertains to trade and economic development. Technology plays a key role in transforming sectors and
maintaining competitiveness in international trade.
BILATERAL TRADE REPORT
2014 Economic Review and Growth Projections for Barbados in 2015
Barbados experienced weak economic growth in 2014. In November of 2014 stay over visitor arrivals grew
by a modest 0.2%, the unemployment figure deteriorated (rising from 8.9% in 2005 to 12.4% in 2014),
investor confidence was affected and there was a decrease in construction activity (Caribbean Development
Bank, 2015). Nevertheless, economic activity is forecasted to recover slightly in 2015. In fact, the Caribbean
Development Bank estimated that Barbados will grow by 0.9% in 2015 up from 0.3% in 2014. Although
Barbados has the second lowest growth rate projection for 2015 regionally the country seems to be on its
way to recovery.
Regional Growth (%) Estimates for 2014 and Projections for 2015
pg. 31
Trade in Tourism Expected to Boost Economic Growth
The IMF has predicted that in 2015 tourism dependent economies including Barbados will experience faster
growth rates than commodity exporters. The GDP of regional tourism dependent economies, as a group 1,
are predicted to grow by 2.5% in 2015 compared to 1.4% in 2014.
Barbados has visibly started to experience an upswing in visitor arrivals; this should stimulate economic
growth if accompanied by spending activities. Although Barbados may experience slight visitor fall-offs from
the UK due to fiscal tightening there, increases in airlift to the U.S is likely to make-up for the fall-out. For
example, Barbados Tourism Marketing Inc. (BTMI) and JetBlue Airways announced plans to offer its highly
successful Mint experience from New York’s John F. Kennedy International Airport (JFK) to Barbados
(BGI), beginning on November 7, 2015. In addition, continued decreases in oil prices in the U.S are also
likely to increase the spending power of individuals in that destination and by extension drive-up demand.
Recovery in tourism should have spinoff benefits for other sectors, especially construction.
Trade in Goods Expected to Benefit from Cheaper Oil
Statistics available for 2015 illustrates that Barbados has begun to experience better terms of trade (exports
vs imports) over the last year. Available statistics show that Barbados’ imports fell significantly, when
compared to the same period in 2014. Imports for January alone declined by BDS$36, 829, 872. Meanwhile,
Barbados’ domestic exports grew by BDS$477, 548, when compared to the same period in 2014. It is
reasonable to assume that the decrease in money spent on imports may be a result of the drastic decline in
the price of oil. This is a positive development because the country would have saved foreign reserves during
the period under review. In addition, Barbados would have gained foreign exchange due to the increase in
exports.
Source: Compiled by the Barbados Private Sector Trade with Statistics sourced from Barbados Statistical Service, 2015
1
The Bahamas, Barbados, Jamaica and ECCU member states.
pg. 32
Pursuit of Export Led Growth through the Monitoring and Implementation of Trade Agreements
CARICOM-Canada Trade Negotiations: Canada continues to be a critical market for the trade of
Barbados’ goods and services. It is a market of which many small businesses have managed to penetrate and
sustain their market presence over the years. Moreover, it is a critical market for our beverages, rum and
biscuits. Businesses maintain their competitive edge through the grant of duty free concessions on entrance.
This duty free access continues to be threatened by the movement of the World Trade Organisation (WTO)
towards free trade and the abandonment of preferential agreements such as CARIBCAN (the arrangement
that exists between CARICOM and Canada). The CARIBCAN expired 2013 but there was no move to
repeal the law giving effect to the concessions granted to CARICOM under the arrangement. It was the
intention of partners to conclude the negotiations of a free trade agreement as a replacement to the
arrangement.
On December 23rd 2014, the CARICOM Secretariat submitted a counter proposal which went beyond
Canada's final offer presented in June 2014. CARICOM’s proposal sought to improve on the provisions of
the EU-CARIFORUM Economic Partnership Agreement by removing goods the region deemed as
sensitive, from the liberalisation schedule. On March 10th 2015, Canada replied to CARICOM rejecting its
proposal. Canada noted that the draft offer developed in June 2014 reflected Canada's maximum flexibilities
in the negotiations and provided extensive concessions. Canada emphasised that it displayed a willingness to
accept an asymmetrical deal to accommodate the differing levels of development between Canada and
CARICOM member states. Based on Canada's best and final offers as agreed in June, it would immediately
eliminate 98.8 percent of Canadian tariffs covering 100 percent of Canadian imports from CARICOM. A
Free Trade Agreement (FTA) would lock in preferential tariff access currently available under CARIBCAN,
eliminate tariffs on additional products such as textiles, apparel and footwear and would expand preferential
tariff treatment to include Suriname. In addition, a FTA would provide CARICOM rum producers with a
number of significant advantages.
Canada gave CARICOM the opportunity to provide a revised proposal by March 25, 2015, that addresses
Canada's core interests and sensitivities. Note that CARICOM has made progress in some of the other areas
of the negotiations, coming closer to Canada’s final offer submitted in June 2014. Canada has applied to the
World Trade Organisation (WTO) for an extension of the CARIBCAN arrangement, which grants duty free
access for goods until 2023.
CARICOM-Cuba Relations
The Barbados Private Sector Trade Team has moved to strengthen trade ties between Barbados and Cuba in
a wide variety of sectors including distribution, manufacturing, banking and international business, through a
business forum aimed at intensifying efforts to boost trade with Cuba. The forum brought together a
number of key stakeholders, including: Barbados’ Charge d’Affaires to Cuba, Ms. Donna Forde; Hon.
Francisco Fernández Peña., Ambassador of the Republic of Cuba; regional business support representatives;
and numerous persons from Barbados’ business community. Opportunities and challenges in that market
were explored and a number of follow-up efforts are scheduled. Similar fora will be pursued as it relates to all
other Agreements in 2015.
pg. 33
REPORT OF THE DUTY FREE SCHEME 2014
Against the backdrop of decreased visitor spend and with the prospect of increased visibility as a result of
the ushering in of projects under the Revitalisation of Bridgetown Initiative (TRBI) banner, the Duty Free
Committee approached 2014 with renewed vigour.
Early in the year discussion focused on attracting more cruise passengers and improving the foot traffic into
Bridgetown with consideration being given to a number of measures that would promote shopping in the
city. The Bridgetown shopping experience was conceptualised and it was envisaged that visitors would be
greeted by a cleaner city free of vagrants and with improved ambience particularly upgrades to store fronts.
The plan relied on input from a number of supporting agencies and to some extent creating a sustainable
fund to allow for the creation of shopping tours, provide well-appointed and appropriate signage for visitor
drop off and pick up and promote the Port/Bridgetown/Port shuttle service.
December 2014 saw an improvement in sales to tourist and this was attributed to increased air lift out of
New York with the introduction of Jet Blue’s early morning flight. This is expected to improve the arrival
statistics for the winter season. During the year the Chairman of the Duty Free Committee stepped down
from the position and a successor is yet to be named. Despite the many challenges the Chamber was able to
retain its staff compliment. The summary of packages and triplicates handled for the period under review is
outlined below.
COMPARISON OF PACKAGES & TRIPLICATES
2013
January
February
March
April
May
June
July
August
September
October
November
December
TOTAL
Packages
1,849
1,112
1,331
1,327
1,387
1,093
1,383
2,518
1,350
1,320
1,373
1,269
17,312
Triplicates
18,928
16,788
14,067
18,179
14,834
10,396
12,006
13,928
15,180
11,339
10,293
9,537
165,475
2014
Packages
1,244
1,054
1,310
1,311
1,479
1,119
1,477
2,383
1,241
1,215
1,169
1,399
16,401
Triplicates
16,854
11,352
10,257
7,259
16,680
13,031
6,955
10,541
16,832
13,955
8,892
17,191
149,799
DUTY FREE FACILITY
Grantley Adams International Airport Staff Complement
Ms. Virginia Gilkes
Mrs. Sharon Bushell-Moore
Ms. Cassian Edey
Ms. Sharon Shorey
Supervisor
Clerk
Clerk
Clerk
pg. 34
LIST OF MEMBERS
WE WELCOMED THESE NEW MEMBERS IN 2014
Tony Brooks Architects Ltd.
West Apps. Inc.
Frederick Johnson Archtiect Ltd.
Solaris Global Energy Ltd.
FastCash Bim Ltd.
Black Pearl Party Cruises Inc.
Latitude 13Point1 Inc.
CSES Enterprises
Grande Cass Management (Barbados) Ltd. T/A Sandals Barbados Resort & Spa
Sole Addiction
Northpoint Consulting Inc.
Pencarrek Limited
Ellco Rentals Ltd.
H. H. Rogers Stationery Ltd.
A & H Motors Inc T/A Platinum Motors
Rodjmon Holdings Incorporated
COMMERCE
A & B Music Supplies
A & R Tempro (1986) Limited
Action Coach Eastern Caribbean
Anita Bryan Trading Inc.
AnsaMcAL (Barbados) Limited
Armstrong Agencies
Art Holdings Inc.
Austin Trading Co. Limited
Beth & Tracie
Bernie’s of Barbados
Biokal Limited
Brydens Stokes
Brydens Retail Inc.
Brydens Xpress Office Supplies Inc
Burger King
C. Alleyne & Co. Limited
Caribbean Ari Inc.
Caribyte Inc.
C.L. Gibbs & Co. Limited
Carlton & A1 Supermarket
Caribbean Solutions Limited
Century Eslon (Barbados) Limited
Commercial Trading Co. Limited
Confectionery & Snacks (Barbados) Limited.
Cost U Less
Courtesy Garage Limited
DGL Building Materials Solutions Inc
DaCosta Mannings Retail Inc.
Datalore T/A Book Source
Diamonds International Limited
Duty Free Caribbean
Eddie’s Trading Co. Ltd.
Facey Commodity Group of Companies
Fujitsu Caribbean Limited
Gatsby Incorporated
Gaye Boutique
Goddard Enterprises Limited
Harley-Davidson of the West Indies
Heather Harrington-Jones Fine Jewellery
IBM World Trade Corporation
Jordans Supermarket
Kensington Court Group
Kiran’s Limited
La Romana Limited
pg. 35
Lazy Days & Island Waves
Lasco (Barbados) Limited
Little Switzerland
Massy (Barbados) Ltd.
Massy Technologies
Massy Stores
Massy Stores Home
Massy Shipping Services
Massy United Insurance Co. Ltd.
Marshall Trading Limited
Melwani’s Limited.
Milano Diamond Gallery SRL
McEnearney Quality Inc.
Music N' Echo Supplies Limited
Nimsay Trading Co. Limited.
Packaging Centre Limited.
Paints Plus Inc.
Popular Discounts
Promotech Inc.
Pro Energy Inc.
Pure Source
Renew Energy Caribbean Inc.
R.L. Mark & Co. Limited.
R.L. Seale & Co. Limited.
S. Abed & Co. Limited.
SAFE Investments Limited
Satjay Bridgetown Centre
Shoemasters Limited.
Simpson Motors
Solar Watt Systems Inc.
Standard Distributors
Star Products Co. Limited
Taylor’s Cycle Centre
Tile Gallery Inc.
The Sportsmaster T/A Converse Store
The Voyager Limited
Total Office Limited
Toyriffic
Unicomer (B’dos) Limited T/A Courts
Unisource Distribution T/A Sparrklez
West Riley Electronics Limited
Wine World Inc.
pg. 36
GENERAL SERVICES
Abelian Consulting Services Inc.
Abus Technology Inc.
ADEB Consultants Limited
ADR Association of Barbados
Airport Restaurants (1966) Limited
Altman Real Estate
Al-Hart Public Relations Inc.
Alpha Corporate Services Inc.
Apes Hill Development SRL
Argo Development Studio Inc.
Atlantis Submarines B’dos Limited
All Round Cleaning Solutions
Barbados Conference Services Limited
Barbados Light & Power Co.
Barbados National Productivity Council
Barbados National Terminal Co. Limited
Barbados Tax Prep.
Barbados Tourism Investment Inc.
BCF Attorneys-at-Law
BCQS International Limited.
C & C Enterprises Services
Caribbean Trade Logistics Advisors Inc.
Caricraft.com Inc.
Cable & Wireless (Barbados) Limited
Caribbean Airlines Limited
Caribbean Catalyst Inc.
Caribbeanjobs.com
Caribbean Photovoltaic Installation Training
Castlefield Investments Limited
Chancery Chambers
Columbus Telecommunications Barbados Limited
Comprehensive Security Solutions Inc.
Corbin Communications Limited
Courtyard by Marriott
DHL (Barbados) Limited
Digicel (Barbados) Limited
DirecTV (Barbados) Limited
Delaney & Associates
Design Collaborative
DLN Consultants Inc.
Edmund Hinkson Attorney-at-Law
Enermax Limited
Eric Hassell & Son Limited
Esso Standard Oil S.A. Limited
Everson R. Elcock & Co. Limited
Fairways Development Limited
Federal Express Corporation
Futura Limited.
Gaitri Mahabir Consulting
Gemford Consultancy Services Inc.
G4S Secure Solutions Barbados Limited
Goddard Shipping & Tours
Grand Hotel Limited T/A Radisson Aquatica Resort
GOTE Properties Inc.
Harris Holdings Limited
Hilton Barbados
Innotech Services Limited.
Larcombe & Co. Limited
Lex Caribbean
Mahy Ridley Hazzard Engineers Limited.
Mark Thompson Group
Maycock Associates Inc
Media Support International
Miller Publishing Co. Limited
M.W. Consulting Inc.
N.M. Hughes & Co. Limited
Net Media Limited
Pee Bee Investments Limited.
Pilot Management Services (B’dos) Limited
PRMR Communication Inc.
Premier Event Services Inc.
Profiles Caribbean Inc.
Professional Security Solutions
Rotherley Construction Inc.
Rubis West Indies Limited
Seawell Air Services Limited
Secure Shred Inc.
The Coverley Medical Centre Inc.
The Heart & Stroke Foundation of Barbados
The Nation Publishing Co. Limited
TMR Sales & Service Limited
Tropical Laundries
Tropical Shipping
Unparalleled Consultation & Training
Virgin Atlantic Airways Limited
Vision Systems Software
VFI Services Inc.
Vivere Limited
Veconinter
pg. 37
MANUFACTURING
Asphalt Processors Inc
ADM Barbados Mills Limited
Bakers Choice Inc.
BRC West Indies Limited
Banks (Barbados) Breweries Limited Barbados
Bottling Co. Limited
Barbados Dairy Industries Limited
Barbados National Oil Co. Limited
Barbados Packaging Industries Limited
Berger Paints Barbados Limited
BICO Limited
Caribbean Label Crafts
Caribbean LED Lighting
Carib Supply (Barbados) SRL
Chickmont Foods Limited
Coles Printery Limited
Cot Media Group
Exclusive Cottons of the Caribbean
Gildan SRL
Goddard Catering Group (Barbados) Limited
Hanschell Inniss Limited
HIPAC Limited
McBride Caribbean Limited
M.I. Juman & Sons
Mount Gay Distilleries
Paradise Green Energy Inc.
Purity Bakeries Limited
RePower Barbados Inc.
Roberts Manufacturing Co. Limited
Structural Systems
Tropical Battery
West India Biscuit Co.
West Indies Rum Distillery
Williams Industries
pg. 38
INTERNATIONAL BUSINESS
Advantage Offshore Managers
Brookfield International
Platinum Offshore Management Services Inc.
Stirling (Barbados) Investments Inc.
St. Michael Trust Corporation
Woodbridge Services Inc
Xstrata Nickel International
BANKING & FINANCE
Axcel Finance (Barbados) SRL
Bank of Nova Scotia
Barbados Stock Exchange Inc
Brydens Insurance Inc
Business Advisory Services
CGM Gallagher Insurance Brokers Limited
Caribbean Financial Services Corporation.
CIBC Firstcaribbean International Bank
CIBC Offshore Banking Services
Capita Financial Services Inc.
Consolidated Finance Co. Limited
Deloitte
Enterprise Growth Fund Limited
E Y Management
Financial Consulting Services Inc.
First Citizens Bank Barbados Limited
First Citizens Investment Services Barbados Limited
Francina Downey & Co.
General Insurance Association of Barbados
Globe Finance Inc.
Guardian General Insurance Co. Limited
Guardian Life of the Caribbean
Harmony General Insurance Co. Limited
Insurance Corporation of Barbados Limited
Island Heritage Insurance Co. Ltd.
JLT Towner Insurance Management (B’dos) Limited
KPMG
Lynch Insurance Brokers Limited
Pan American Int’l Insurance Corp.
PwC
Republic Bank
Royal Fidelity Merchant Bank & Trust Barbados Limited
RBC Royal Bank of Canada
Sagicor General Insurance Inc.
Sagicor Life Inc.
Sentry Insurance Brokers
Signia Financial Group Inc.
Trident Insurance Co. Limited
pg. 39