Bridgetown.
Barbados is committed to the international business sector, this assurance was given by Prime Minister Freundel Stuart, who promised that Government would give the sector “all the support it needs”, so that when the world economy comes out of its present crisis, Barbados would be able to take full advantage of all the opportunities that may then be available. Stuart made the comments during a wide-ranging media conference at the Ocean Two Resort and Residences at Dover, Christ Church.
The Prime Minister told reporters: “As it is doing in tourism, Barbados still has to go out in the market and fight and try to attract [international] business from other markets. We have treaties with places such as Bahrain, [and] United Arab Emirates, and we are doing some treaties in South America. The whole purpose is to broaden the network so that we can draw from as many sources as possible, but we are not about to walk away from the international business sector.”
He pointed out that Barbados had a vast network of Double Taxation Treaties which facilitated people coming and doing business here. “But, some countries are saying that Double Taxation Agreements are not all that they want or in some cases, not what they want at all, what they prefer to have are Tax Information Exchange Agreements because they are more interested in the exchange of tax information,” he explained.
Stuart disclosed that he and the Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss, recently met with the people involved in the rum industry to hear about some of their challenges.
The Prime Minister gave the assurance that the Government is doing its best to make sure to protect the rum industry.
You must be logged in to post a comment.