In a recently released annual report, CEO of Barbados Shipping and Trading, Allan Fields warned that the country needs to modify its foreign exchange and tax systems if its firms are to compete successfully on an international level.
'We need to accept that we are operating in an environment that is at the mercy of external forces over which we have little influence,' Mr Fields observed, adding that the private sector in Barbados operates under particularly stringent business regulations:
'Government has to understand that if this sector is going to continue to create and maintain levels of employment and compete in this new paradigm, the business community has to be allowed more flexibility,' he explained in the BS&T's financial statement for the period ended September 30, 2002.
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