Doing business between UK, Caribbean made easier

Companies in the UK will now have an easier time when exporting their products and services to Barbados and the Eastern Caribbean.

This is according to British High Commissioner, Paul Brummell, who was speaking at a recent UK Export Finance Reception at his Ben Mar residence.

British High Commissioner to Barbados and the Eastern Caribbean,
Paul Brummell (left), in conversation with Head of Business Development
at UK Export Finance, Ali Sherwani, at the recently-held UK Export
Finance Reception at the High Commissioner's Ben Mar residence.

“We were very keen to see here a visit by the UK Export Guarantee Department – which trades as UK Export Finance – really because one of the central goals of the UK Government is to strengthen the arsenal for UK companies wishing to develop their exports overseas. In the conversations I have had had in the three or more years here in the Eastern Caribbean, the availability of export credit has always been a factor that has been mentioned to me on many different occasions by UK companies, as a critical factor in being able to develop their exports,” he said.

He noted that this organisation has also developed a number of initiatives aimed at lending assistance to local and regional companies who want to make use of UK products and services.

“UK Export Finance has developed a range of new products, new approaches, to be able to support UK companies, also to support Caribbean companies wishing to buy goods or services from the UK. So we thought that this was a perfect opportunity for a team from UK Export Finance to be able to come to the region and explain what is on offer and how the organisation can help to support the development of trading links between the UK and the Caribbean.”

He said that this project, which is a global initiative of UK Export Finance, would bring tremendous benefits for local and regional companies.

“It is all about developing activity here in Barbados. So it is all about Barbadian organisations wishing to develop in all sorts of ways – to bring in new products and services, to develop new infrastructure here in Barbados, to develop the island in any number of ways. This arrangement provides a way of doing that, bringing in the expertise, goods and services of British companies.”

The formation of these linkages would also benefit the UK as well, he stated. “This is effectively about partnerships and I think that the UK has a fabulous range of goods and services. What UK Export Finance can offer is a means of financing a relationship which is to the benefit of both the UK and the Caribbean and so I see everybody as a winner in this.”

In this regard, the British High Commissioner called this visit by representatives of UK Export Finance timely. “We haven’t had a visit by UK Export Finance to the Caribbean for some time. I think since the last visit a lot of products, a lot of services, a lot of the focus have changed so this is really the opportunity to showcase what the UK and what the UK Export Finance have to offer.”

Brummell added that judging from the number of people who took Sherwani aside that evening at the financial reception to talk about specific business opportunities, it looks like there they are already conceptualising and planning for a lot of business ideas and partnerships, and therefore he expects to see the benefits of this exchange in the near future. (PT)