Barbados Not An 'Offshore' Destination, Says Government Official

by Amanda Banks, Tax-News.com, London

27 November 2002

Barbados is now moving away from its image as an offshore destination, and towards a reputation as a top-class international business centre, according to Senator Phillip Goddard, the Ministry of Economic Development's special envoy.

Speaking at an international business seminar on 'Preserving Barbados As A Competitive Business Environment', Senator Goddard explained that although the government has put in place a good framework for Barbados to maintain a thriving market for this kind of business, a great deal of effort on the part of the jurisdiction's private sector is also necessary.

'Government can lend assistance but the true marketing thrust must come from the private sector who have specialist skills and a focus on the business,' Senator Goddard observed, continuing: 'There needs to be coordination between Government and the private sector to develop our penetration of foreign markets.'

According to the Barbados Daily Nation the event, sponsored by Deloitte and Touche in association with the Ministry of Economic Development and the Barbados International Business Association, was also attended by several Canadian officials and professionals, who spoke about issues of particular relevance to Canadian firms located in Barbados, such as dealing with the Canada Customs and Revenue Agency (CCRA), and transfer pricing.

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