Barbados is pressing ahead with its goal of establishing new partnerships and strengthening the existing ones, as the island continues to solidify its south-south cooperation with key partners.
Minister in the Ministry of Finance and Economic Affairs, Ryan Straughn, pointed out that maintaining partnerships was necessary if the global south was to adequately address emerging global challenges.
In a video-recorded message shown during the opening ceremony at the United Nations Conference on Trade and Development (UNCTAD) Thematic Solutions Forum at the Global South-South Development Expo in Bangkok, Thailand earlier today, the Minister shared ongoing efforts to strengthen cooperation both regionally and extra-regionally.
He told the audience that the COVID-19 pandemic “demonstrated to all the need for stronger South-South Partnerships,” adding that CARICOM Member States worked with the African Union and the African Exim Bank to access the African Medical Supplies platform. This, Mr. Straughn said, enabled Barbados and other countries in the region to receive COVID-19 vaccines, Personal Protective Equipment and other medical supplies which had become more expensive and extremely difficult to source in light of global scarcity and hoarding.
He contended that government, in keeping with its commitment to South-South cooperation had established diplomatic missions in Ghana and Kenya and opened High Commissions in Accra and Ghana as a “priority”.
Minister Straughn also shared that earlier this month, Barbados hosted the first AfriCaribbean Trade and Investment Forum, sponsored by the African Exim Bank, in partnership with Invest Barbados and Export Barbados.
“By any measure, the forum was a rousing success, attended by over 700 delegates from several African countries and the diaspora and 300 persons from the Caribbean region. The opportunity to share knowledge, forge business partnerships and share meaningful cultural experiences was well received by all. We look forward to hosting even more delegates in the future,” he stated.
Mr. Straughn continued: “Barbados has also signed Memoranda of Understanding to facilitate direct airlift between both regions, with Barbados providing a jump off point to the wider Caribbean. We have already received expressions of interest from several carriers to fly these routes. Hopefully, the journey to the next ACTIF will be much shorter and faster.
He alluded to other areas of collaboration between Barbados and Suriname to address issues of food security in keeping with the goal set before the start of the pandemic, to reduce the region’s food import bill by 25 per cent by 2025.
The Minister further disclosed that the region hosted two Agricultural Investment Fora this year – one in Guyana and the other in Trinidad and Tobago – to accelerate implementation of this policy.
Given the significant investment involved, Mr. Straughn added: “Our partners at the African Exim Bank have pledged to provide one billion US Dollars in trade financing to the Caribbean Region.” He further stated: “These are but a few examples of Barbados’s tangible efforts to make real the lived experience of South-South Cooperation for our people. I look forward to continued growth and prosperity in this respect and eagerly await the day there are direct flights from Bangkok to Bridgetown which will enable us to meet in person instead of virtually.