Barbados is well positioned to be marketed as the gateway to Cuba for US and other international investors who are ready to invest in Cuba.
This view was expressed by Barbados’ International Business Minister Donville Inniss as he addressed the fifth annual conference for the International Business and Financial Services Sector, hosted by the Central Bank of Barbados.
“The knowledge that Barbados is one of the few countries which possesses Double Taxation Agreements (DTAs) and Bilateral Investment Treaties (BITS) with the United States of America (USA) and Cuba and their effective utilisation and impact on the international business environment among these states becomes more relevant to the international investor who wishes to do business with Cuba in light of the USA’s changing outlook.”
Before an audience that included His Excellency Francisco Fernández Peña, Ambassador, Embassy of the Republic of Cuba in Barbados and key stakeholders in the sector, the Minister said, “Given Barbados’ experience and knowledge in the effective operationalisation of these bilateral arrangements, it is well placed to provide an interface between those markets without stifling innovation and entrepreneurship, if well conceptualised and strategised.”
Stating that Barbados is well placed to attain its vision of being the international financial and wealth management centre of choice in the western hemisphere, he added that Barbados has “an ever increasing suite of product offerings, current and progressive legislation, requisite regulation and a highly knowledgeable and competent workforce”.