Despite being the third-largest recipient of Canadian foreign direct investment, Barbados can still benefit from more untapped business from the Canadian market.
That was according to Wayne Kirton, chief executive officer of Invest Barbados, as he delivered a statement on behalf of Darcy Boyce, Minister of State in the Prime Minister’s Office, during the launch of the Canadian Chapter of the Barbados International Business Association at the Invest Barbados’ office, Hastings, Christ Church.
Model working
Kirton said “The Canadian Barbados business model has worked for us, and has worked well. Notwithstanding this, we also know that competition for global foreign investment flows has not stood still.
The Invest Barbados boss pointed out that the “success for Canada means success for Barbados and vice versa, both at the macro and micro levels”.
Canadian direct investment to Barbados stood at CAN$40.8 billion at the end of 2009 and over the years, the island has been able to retain its position as the third-largest recipient of investment flows from Canada.
Kirton noted that the proven relationship between the two countries had been successful to both Canada and Barbados.
“It is no secret that the Canadian market has emerged . . . to be an important and integral part of Barbados’ success as a developing economy and more specifically as an international business domicile,” he noted. (GE)
