Barbados has taken another significant step towards boosting trade and economic ties with Africa, this time via the business community.
The Barbados Chamber of Commerce and Industry (BCCI) and the Ghana National Chamber of Commerce and Industry (GNCCI) have signed a memorandum of understanding (MOU) and officials say it affirms the two organisations’ commitment to deepen trade and economic co-operation between the business sector in Barbados and Ghana.
The recent signing ceremony took place at the BCCI headquarters in Braemar Court, Deighton Road, St Michael.
The MOU “establishes a formal framework for co-operation, paving the way for business-to-business (B2B) engagements, market intelligence sharing and joint trade missions between Barbadian and Ghanaian companies”.
It also “seeks to explore opportunities in sectors such as agriculture, renewable energy, fintech, banking, manufacturing, and processing, while promoting the exchange of regulatory and commercial information on both markets”.
For BCCI president Paul Inniss, the partnership is a strategic step toward expanding market access.
“This partnership between our chambers will pave the way for joint business missions and exchange programmes between Barbados and Ghana and, by extension, open channels for Barbadian companies into West Africa and for Ghanaian and African companies into the Caribbean,” he said.
“This is exactly the kind of concrete outcome we see as a framework for sustained collaboration beyond the conference room, so that our businesses continue to engage month after month and partner with our African counterparts.
“We see this as part of a broader strategy of South-to-South cooperation and diaspora-led investment, aligning with the African Union Agenda 2063 for a connected, global Africa,” Inniss added.
Misha Lobban-Clarke, BCCI executive director, also emphasised the significance of this historic milestone.
She said the MOU “represents years of dialogue and determination on both sides”.
“Despite delays at the start, both chambers remained committed because we recognised that there is immense potential in building stronger ties between Barbados and Ghana that can result in tangible outcomes for the benefit of both nations,” Lobban-Clarke noted.
President of the Ghana National Chamber, Stephane Miezan, emphasised the scope of opportunities for mutual benefits.
“From agriculture to mining, fintech, banking, manufacturing, and processing, the opportunities are vast,” Miezan said.
“Ghana is a bigger country in comparison to Barbados, which means the potential benefits we can bring to Barbados are enormous. We are committed to ensuring that this partnership be sustainable and impactful.”
Barbados High Commissioner to Ghana, Juliette Bynoe-Sutherland, commended both chambers for the important milestone, giving the assurance that “Barbados believes strongly in our social partnership model for national development, and we have embraced this in our work in Kenya and Ghana”.
“Engaging the private sector through Chambers of Commerce provides a strong platform for businesses seeking to access new markets,” the diplomat said.
Overall, officials involved said the MOU “underscores a shared commitment and vision by both chambers to foster long-term economic co-operation, South-to-South trade, and diaspora-led investments, strengthening ties between Barbados, Ghana, and the wider African region”. (SC/PR)
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