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Who are we
The Barbados Private Sector Trade Team (PSTT) commenced its operations on 3rd March 2003. The PSTT was established to research, document and promote Private Sector interests which are likely to be affected as a result of international trade negotiations.
This refers especially to decisions taken in the World Trade Organization (WTO); Free Trade Area of the Americas (FTAA); the CARICOM Single Market and Economy (CSME) and the European Union / Africa-Caribbean-Pacific region (EU /ACP).
Why we exist
The PSTT’s role is to provide professional contributions to Barbados and regional trade negotiations on behalf of the Barbados private sector. The team aims to achieve this through implementation of its work plan which includes (1) evaluation of the competitiveness of Barbadian businesses, (2) assessment of the impact of trade agreements and (3) identification of opportunities for operating in the liberalized international trade environment. Our initial focus will be on tourism & entertainment; manufacturing & agriculture; services & investment.
Our sponsors and contributors
The PSTT is sponsored by the member organizations of the Barbados Private Sector Association. These include Tourism Development Corporation (TDC), The Barbados Manufacturers Association (BMA) and Barbados Chamber of Commerce and Industry (BCCI).
Other supporters include Barbados Agricultural Society (BAS); the Small Business Association (SBA); Barbados Hotel and Tourism Association (BHTA); Barbados Employers’ Confederation (BEC) and Barbados International Business Association (BIBA).
Direct contributions have been made by Goddard Enterprises, BS&T, IBM, A.S. Bryden, PriceWaterhouseCoopers, Ernst & Young, Sagicor, Royal Bank of Canada, Bank of Nova Scotia, Barbados National Bank, First Caribbean International Bank, RBTT Bank Barbados Ltd (formerly Caribbean Commercial Bank), Insurance Corporation of Barbados, Government of Barbados, Shipping Association of Barbados, the Canadian International Development Agency (CIDA) and the Project Management Unit (PMU) of the European Union.
In addition to sponsors and contributors, the PSTT has also developed strategic relationships with the trade negotiators viz. the Caribbean Regional Negotiating Machinery (RNM) and the Ministry of Foreign Affairs & Foreign Trade. The Central Bank of Barbados and the Secretariat for the CARICOM Single Market and Economy are also supporters of this important private sector initiative.
Our Work
- Through research and analysis, to make systematic private sector inputs into trade negotiation processes and influence emerging trade rules.
- To foster a keener awareness and understanding of international trade negotiation issues among the private sector.
- To examine the competitiveness of Barbadian products and services within regional, hemispheric and global contexts.
- To identify the critical issues affecting the growth and development of Barbadian businesses under a liberalized trade regime.
- To identify opportunities for sustainable growth and improved competitiveness of key economic sectors in the liberalized trade environment.
- To articulate private sector interests in trade negotiations - clearly, coherently and effectively.
At your service
Our work output will be available in a variety of ways to our different stakeholders. These include:
- Periodic briefings and workshops on major emerging trends and issues.
- Issues papers highlighting important matters of concern for Barbados' businesses.
- Negotiating briefs for presentation to the national and regional negotiators, clearly articulating private sector interests.
- At our Resource Centre, located in our office in Goddard's Complex, you will be able to access the Trade Team’s main library.
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