Barbados Deepens UK Trade Links Amid Push into New Industries

• Barbados is ramping up efforts to attract British investment in renewable energy, space technology and the creative industries, positioning itself as a hub for emerging industries as global economic partnerships evolve. Delivering the keynote speech at the sixth annual UK Trade Mission to Barbados Business Forum, Minister of Economic Affairs and Investment Kay McConney said that Barbados continues to attract diverse interest from British investors, extending beyond traditional sectors such as tourism and financial services.
• Citing World Bank data, McConney said demand for investment in energy across developing countries is expected to double by 2035. The growing interest from UK businesses reflects strong confidence in Barbados’ economy, which has now recorded 17 consecutive quarters of growth, according to the Central Bank’s September 2025 report, the minister said.
• Several steps have been taken by Bridgetown to create a more business-friendly climate, including the modernisation of public systems, the digitisation of services and ongoing reforms to improve efficiency and transparency.
• The minister for investment suggested that these partnerships bring mutual benefits for Barbados and the UK. “Barbados gains through job creation and through skills and technology transfer, which ultimately contribute to economic growth. UK and Barbadian businesses, in turn, gain access to new market opportunities and solid returns on investment.” She noted that steadily growing interest from British agencies across a wide range of industries, including financial services, ICT, agro-processing, renewable energy, construction and manufacturing. She also emphasised emerging opportunities in education, the blue economy and innovation-driven fields such as space technology and film.
• British high commissioner to Barbados and the Eastern Caribbean, Simon Mustard, underscored the importance of strengthening trade and investment links amid global uncertainty. He encouraged businesses to diversify and build resilience through collaboration in areas such as renewable and geothermal energy, digital transformation, and small business development.
• Trade between the UK and Barbados grew by 9% over the past year, reaching more than $1.59Bn (£600Mn), the high commissioner revealed. He said the UK’s global trade strategy targets eight high-growth fields: clean energy, advanced manufacturing, digital and technology, creative industries, financial services, life sciences, defence, and professional business services, backed by £22Bn ($58.3Bn) annually in research and development and £34Bn ($90Bn) in new capital. He also projected a 2.7 pe cent growth rate for Barbados this year, driven largely by tourism, construction, renewable energy, and digital transformation.

(Source: Barbados Today)