SCOTTISH TRADE MISSION TO BARBADOS - JUNE 2012: GLASGOW PRESENTATION ON WEDNESDAY, 14 MARCH 2012...

SCOTTISH TRADE MISSION TO BARBADOS - JUNE 2012:

GLASGOW PRESENTATION ON WEDNESDAY, 14 MARCH 2012

09/03/2012 Glasgow Presentation 1

19/04/23 2Glasgow Presentation

AGENDA

About Barbados The Scottish/Barbados Connection Business Opportunities In Barbados Seeking Out Those Opportunities What’s In It For You? Why Visiting Now (Is A Good Time) BHC Support – The Barbados/Eastern Caribbean Team Bonus - O.E.C.S. Sub-Region (& UKTI In The Caribbean)

BARBADOS – BASIC FACTS Size: 166 Square Miles (431 Km) Capital: Bridgetown Language : English Population: 276,300 (2010) Life Expectancy: 76.8 Years Labour Force: 142,300 (2010) Established Parliament Legal System: Independent Judiciary (Derived From English

Common Law And Statutes) Four Hours Behind GMT Direct Flights From UK To Barbados (7.5 Hours)


BARBADOS – BASIC FACTS 2 GDP Per Capita (At Factor Cost): US$13,250-00 (2010) GDP: 0.5%; Unemployment: 12.1%; Inflation: 7.0% (2011) Barbados Currency (Bds$2) = US Dollars (US$1) Financial System: Regulated by The Central Bank of Barbados

And The Financial Services Commission Business Hours: 8.00–4.00 (Government: 8.15– 4.30) Standard Of living And Quality Of Life: High Businesses Pay Their Bills On Time – A Plus For Overseas

Suppliers (Government Agencies Are A Little Slower In Doing So)


Reputation: Safe, Low Crime, Well-Managed Democratic Traditions: Politically Stable, Regular And

Democratic Elections People: Warm, Welcoming, Friendly Workforce: Reliable, Offer Professionals, Skilled And

Unskilled Labour Excellent Transportation – Road, Air, Sea And

Telecommunications Network International Agencies And Companies Have Their

Regional (Even World) HQ Offices in Barbados Free Wi-Fi In Bridgetown – Soon All Over Barbados


UNIQUE SELLING PROPOSITIONS


INTERNATIONL RANKINGS No.1 Developing Country In The World - United

Nations 2007 Highest Ranked Caribbean Country (36th Globally) For

Effective Usage of ICT - World Economic Forum’s Global Information Technology Report 2008-09

Low corruption – 24th Out Of 163 Countries -Transparency International Corruption Perception Index 2006

Highest amongst Caribbean countries (43rd out of 131 countries) – World Economic Forum - Global Competitive Index

EDUCATIONAL ACHIEVEMENTS High Human Capital Investment - Government ‘Free’ Pre-School, Primary, Secondary And Tertiary Level

Education Since 1961 (Compulsory Until Aged 16) 99.7% Literacy Rate High Computer Literacy And Internet Usage High Percentage Purchases Of Blackberry’s, And Increasing

Usage Of I-Phones, I-Pads And Other Gadgets (Good Gifts For Self And Others)

Technology In Use By All Ages – By Students In Primary School To Retirees

Social Media Popular – Facebook, Twitter, Linked-In, You Tube, Business And Personal Websites


ECONOMIC CHALLENGES World Economic Recession Hurting Confidence In Economy Lacking FDI and Local Investment Below Pre-2007 Levels Next General Election On Everyone’s Mind Corrective Action: Increase FDI And Local Investment Need To Grow Exports Need to Reduce Bureaucracy/Red Tape And Other Bottlenecks

Inhibiting Growth Good Winter Season Construction Sector Activity To Become Robust Again


BUSINESS OPPORTUNITIES

History: Education Has Always Been A Tool For Upward Social Mobility Through One’s Own Efforts

Remains So: Life-Long Learning Principle Applies Education Accounts For Over 21% Of Government’s Annual

Recurrent And Capital Expenditure (Bds$0.5b). Education Importers – Supply Educational Institutions Companies Budget To Spend On Staff Development Training –

Induction, Training, Re-Training (From Simple Customer Relations To Masters Programmes)

All Methods Used: Face-To-Face In-House, Day/Evening courses, On-line, Plus Vocational Programmes


Visible Trade Statistics

£40.5m In Exports Went From UK To Barbados In 2010 £31.5m In Imports Went From Barbados To UK In 2010 An Average Of £46.8m Exports Went From Barbados To UK

Between 2000-2010 An Average Of £23.8m Imports Went From Barbados To UK

Between 2000-2010. Balance Of Trade Is In The UK’s Favour On Average By 2:1

Over This 11-Year Period. Main Trading Partners – USA, CARICOM, Japan, Canada, UK


SEEKING OUT OPPORTUNITIES

Market Intelligence Is Your Key – 10 Suggestions: Secure Local Representative OR (J-V) Partner Have Formal Written Contract(s) Maintain Contact Respond When Requested Regularly Review Local Media Review Published Tenders Watch Your Competitors Undertake Market Research Have That Research Undertaken For You (UKTI) Visit The Market (At Least Annually)


SECTOR OPPORTUNITIES


Twelve Areas: Education, Training & Human Resource Development ICT Financial Services Alternative/Renewable Energy – solar, wind, wave Environment - Climate Change, Disaster Management/Risk

Reduction Energy – offshore oil and gas development/production Construction/Infrastructure including Housing Healthcare Tourism Food & Drink and Consumer Items Good Governance Security plus Aid funded business cuts across all of the above

WHAT’S IN IT FOR YOU? Grow UK’s (Including Scotland’s) ‘Prosperity’ Agenda Expand Your Current Export/Overseas Market Base Grow Your Business Supply Local Requirements Receive Assured Payment Benefit Financially Learn From The Barbados Experience To Develop Further

Caribbean (And Other) Export Markets Make New Friends Enjoy Visits To The Caribbean


WHY NOW

No Better Time! Market’s History – Excellent relationship with UK Public And Private Sectors – Welcome UK Businesses Entering Barbados During Recessionary Times Positions You

To Increase Your Company’s Business When The Economy Picks Back Up – Then Ride The Growth Wave!

International Aid Development Agencies Are Supporting/Funding Wide Variety of Projects E.G. Education And Related Projects To Develop And Reduce Poverty In The Caribbean – Don’t Miss The Boat!!


THE EASTERN CARIBBEAN


Antigua And BarbudaDominica Grenada St Kitts And Nevis St Lucia St Vincent And The Grenadines PLUS: UKTI Teams Based In Cuba, Dominican Republic, Jamaica,

Trinidad UKTI Also Has Capacity To Cover The Entire Caribbean Region


UKTI’s BARBADOS TEAM

We are…Open For Business £19-£1 benefit to UK taxpayers

Paul Roni

HadfordWayne

SUMMARY


About Barbados The Scottish/Barbados Connection Business Opportunities In Barbados Seeking Out Opportunities In Barbados What’s In It For You Why Visiting Now (Is A Good Time) BHC Support – The Barbados/East Caribbean Team Bonus - O.E.C.S. Sub-Region (& UKTI In The Caribbean)

Coming To Scotland...Soon


THANK YOU, QUESTIONSAND CONTACT DETAILS

Hadford Howell MBE, Head Of Trade & Investment, UKTI Barbados & The Eastern Caribbean, British High

Commission, Lower Collymore Rock, St Michael, Barbados BB11000; Tel: 1 246 430 7855; Fax: 1 246 430 7826; E-mail:

[email protected]; http://www.ukinbarbados.fco.gov.uk

www.uktradeinvest.gov.uk


SCOTTISH TRADE MISSION TO BARBADOS - JUNE 2012: GLASGOW PRESENTATION ON WEDNESDAY, 14 MARCH 2012...

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