WT/TPR/M/308  
25 February 2015  
(15-1109)  Page: 1/33  
Trade Policy Review Body 
27 and 29 January 2015   
 
  TRADE POLICY REVIEW 
BARBADOS  
MINUTES OF THE MEETING 
Chairperson: H.E. Mrs. Mariam MD Salleh 
CONTENTS 
 
1  INTRODUCTORY REMARKS BY THE CHAI RPERSON ....................................................... 2  
2  OPENING STATEMENT BY THE REPRESENTATIVE OF BARBADOS .................................. 4  
3  STATEMENT BY THE DISCUSSANT ................................................................................ 7  
4  STATEMENTS BY MEMBERS ........................................................................................ 11  
5  REPLIES BY THE REPRESENTATIVE OF BARBADOS AND ADDITIONAL 
COMMENTS ..................................................................................................................... 28  
6  CONCLUDING REMARKS BY THE CHAI RPERSON ......................................................... 32  
 
 
Note: Advance written questions and additional questions by WTO Members, and the replies 
provided by Barbados are reproduced in document WT/TPR/M/308/Add.1 and will be available 
online at http://www.wto.org/englis h/tratop_e/tpr_e/tp_rep_e.htm. WT/TPR/M/308 • Barbados 
 
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  1  INTRODUCTORY REMARKS BY THE CHAIRPERSON 
1.1.  The third Trade Policy Review of Barbados was held on 27 and 29 January 2015. The 
Chairperson H.E. Mrs Mariam MD Salleh (Malaysia)  welcomed the delegation of Barbados headed 
by Senator the Honourable Maxine McClean, Minister for Foreign Affairs and Foreign Trade; the 
rest of the delegation, including H.E. Mrs Marion  Vernese Williams, Permanent Representative of 
Barbados to the WTO; other colleagues from the mission in Geneva; and the discussant, H.E. Ms Tan Yee Woan (Singapore). 
1.2.  The Chairperson recalled the purpose of the Tr ade Policy Reviews and the main elements of 
the procedures for the meeting. The report by Barbados was contained in document WT/TPR/G/308 and that of the WT O Secretariat in WT/TPR/S/308. 
1.3.  Questions by the following delegations had been  submitted in writing at least two weeks in 
advance and had been transmitted to the delegation of Barbados: China; Guatemala; Canada; the 
European Union; Peru; Turkey; Brazil; Mexico an d Thailand. The following delegations submitted 
written questions after the two-week deadline: Colombia; Trinidad and Tobago; and the 
United States. 
1.4.  During the review period, Barbados had been severely affected by the global economic crisis, 
which had resulted in a sharp decline in tourism receipts. GDP had contracted sharply in 2009, had 
grown at very moderate rates between 2010 and 2013, and had contracted again in 2014. 
1.5.  As the Secretariat report noted, Barbados' fiscal position remained precarious. During the 
period under review, Barbados had registered la rge fiscal deficits, which had risen to 12.7% of 
GDP in 2013/14. The mounting fiscal deficit had led to an increase in the debt to GDP ratio to over 
126%. To redress this situation, the Government of Barbados had undertaken a fiscal 
consolidation programme, which was expected to lead to a decline in the deficit this year and in the medium run, and to restore fiscal sustainability. The Chairperson was sure Members would like 
to know more details regarding measures undertaken. 
1.6.  On the external front, Barbados had been running persistent external current account deficits 
during the review period. In 2013, the deficit had reached 11.6% of GDP, up from 9.6% in 2008, 
mainly due to falling tourism receipts and an increasingly negative investment income balance. 
1.7.  Barbados was an active Member of CARICOM and through its participation in it had 
subscribed a number of trade agreements. A sign ificant development during the review was the 
CARIFORUM-EU Economic Partnership Agreement (EPA) which had been signed in October 2008, 
and had been ratified by Barbados in July 2014. Barbados was still in the process of making the 
legal adjustments required for a full implementation of the EPA. 
1.8.  The Chairperson was pleased to note that Barbados had made considerable progress with 
respect to the adoption of trade facilitation measures. Customs clearance could be done 
electronically and mechanisms for advanced ruling were in place. A risk assessment was in place, with merchandise channelled through four lanes according to risk, including a "blue" lane, for 
post-clearance assessment.  
1.9.  However, as some Members had noted in their questions, Barbados continued to maintain a 
dual licensing regime that favoured imports from other CARICOM partners. It was interesting to hear from Barbados what the rationale for maintaining such a system was. 
1.10.  During the period under review, Barbados had continued to implement a number of 
incentives programmes targeted solely or partly at the promotion of exports. Five of these programmes had been notified to the WTO. Barbados had also notified to the WTO the internal 
steps that it needed to undertake to bring these subsidies into conformity with the SCM Agreement 
by 31 December 2015. It interested Members to hear about the latest steps undertaken for the dismantlement of these programmes, as the deadline approached. 
1.11.  Agriculture played in general a small role in the economy, except the sugar industry, which 
provided the raw material for Barbados' main export  product, rum. A National Agricultural Strategy 
was currently under development, with main em phasis on food security, and on boosting WT/TPR/M/308 • Barbados 
 
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  production and productivity. Also, the authorities were considering expanding the scope of 
sugar-related activities to include the production of ethanol and electricity generation. 
1.12.  The Chairperson was sure that these topics and themes, and many more would be touched 
upon in greater detail at the deliberations on the first and second day of the meeting.  
1.13.  She also noted that a podcast would be made of this TPRB meeting. WT/TPR/M/308 • Barbados 
 
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  2  OPENING STATEMENT BY THE REPRESENTATIVE OF BARBADOS (SENATOR THE 
HONOURABLE MAXI NE MCCLEAN) 
2.1.   It is a distinct honour for me to be here at the World Trade Organization, representing the 
Government and people of Barbados on this o ccasion of Barbados' third Trade Policy Review.  
2.2.  Barbados welcomes the opportunity to discuss the trade policies which would have guided 
Barbados’ economy over the last six years with you the Members of the World Trade Organization. We look forward to sharing with you our perspe ctive on how we have managed to weather the 
challenges which we have encountered during this time period. We also look forward to hearing 
your comments on the review. 
2.3.  Since Barbados’ last Trade Policy Review in 2008, the world has gone through an 
unprecedented economic recession and this has had deleterious effects on many countries, 
particularly small vulnerable economies like Barbados. 
2.4.  On the surface, if you only look at statistics, Barbados is a middle income country with a high 
human development index. The reality, however, is that Barbados is a small vulnerable open 
economy and we possess the characteristics of the same in terms of size, that is small size, limited 
resources, susceptibility to external economic and financial shocks and vulnerability to natural disasters. In this regard, it is evident that ma ny of the larger developed countries are showing 
signs of economic recovery. Unfortunately, a time lag of a few years is required for us to show the 
same positive signs. 
2.5.  Barbados’ economy was challenged during the period under review. The economic recession, 
to which I referred, which came about as a result of circumstances beyond our control, has had a 
particularly huge impact on our major foreign exchange earner: tourism. There was a marked 
decrease in tourist arrivals and tourist spend. 
2.6.  We are beginning to see, however, modest improvements in the tourism sector. The 
Government has used this time period to rede fine our strategy for the sector. Barbados has 
developed a Tourism Master Plan, intended to be  Government’s blueprint for the industry and a 
guide for all state holders. The Barbados Tourism Authority (BTA) has been restructured to bring 
equal focus to product development and promotion. Major investments have commenced in this 
area and are contributing to the diversification of the sector. Barbados remains one of the most beautiful islands in the world, with very hospitable and sociable people, a relaxing environment with an enviable climate. The fact that Barbados has been able to weather this economic storm so 
well is testimony to the resilience of the country and its people.  
2.7.  Our trade policies therefore have sought to bring balance to the economy and to diversify 
from the mainstay of sugar and tourism. Barbad os has done much to encourage the growth of 
manufacturing and the international business and financial services sectors. The Government is 
repositioning the BIDC to make a more significant contribution to the development of the industrial 
sector, the focus being on developing a high value manufacturing sector. The Government has 
established the Business and Trade Facilitation Committee which seeks to ensure that there is 
greater efficiency in the system and to expedite the process of facilitating and operating business 
in Barbados.  
2.8.  At the national level, there is agreement on the way forward for the economy and the 
vehicles which are required to take us there. Barbados has instituted a Medium Term Growth and 
Development Strategy for the period 2013-2020. The theme for this strategy is "Adjustment, Reform, Recovery and Stability". It speaks to how the Government sees the process of achieving 
our growth targets. 
2.9.  At the national level, this Growth and Development Strategy 2013-2020 charts a clear 
direction for our sustainable green economic growth and development priorities over the next eight 
years. It defines Government’s plan to institute a sequence of managed structural adjustments 
and reforms which are critical to the country’s sustainable economic, human and social development over the planning horizon 2013-2020.  WT/TPR/M/308 • Barbados 
 
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  2.10.  In response to the high energy costs that have plagued all sectors, the Government has 
instituted a comprehensive set of policies to enco urage the use of more renewable energy and the 
development of energy efficient projects and pr ogrammes to reduce energy cost and insulate 
businesses from price volatility. 
2.11.  The positive economic impacts of the adjustment and reform activities will facilitate our 
recovery and return to a sustained path of growth . In this Growth and Development Strategy, it is 
proposed that growth should be managed on the ba sis of annual targets agreed to by the social 
partnership, with the progress and achievement of the aforementioned targets being closely 
monitored and controlled. The Social Partnership comprises the Government, the private sector, the labour movement. 
2.12.  I am pleased to inform that the development and the implementation of the Medium Term 
Growth and Development Strategy is bearing fruit and we are beginning to see light at the end of 
the tunnel. The short term fiscal consolidation programme which was a part of the Strategy has been effective in improving the foreign exchange market. Overall economic activity has improved 
and there are projections for positive growth to be  recorded in the economy this year and beyond. 
Barbados remains highly vulnerable to the vagaries of the international economy but we made a commitment to productivity, efficiency, competitiv eness and service excellence which will see us 
through the storm. 
2.13.  A pivotal element of the national medium term fiscal Consolidation and Economic Recovery 
Programme is the Government’s intention to build better operational synergies and efficiencies in the function of central government and statutory entities. This is being undertaken not only to 
assist in cutting Government’s overall expenditure but to assist in building operational platforms to 
allow for a higher quality of service delivery to the public at less cost.  
2.14.  In spite of the challenges which Barbados has faced, as a result of the crisis, Barbados 
remains open to free trade. The country has not resorted to any protectionist measures. Barbados 
continues to show its commitment to free trade and trade liberalization both in its actions in the WTO and through bilateral trade relations. Barb ados joined with the CARIFORUM Region to 
negotiate, sign and implement the Economic Partnership Agreement with the European Union. The 
expected benefits from the full implementation  of this Agreement are numerous and Barbados 
forges ahead with its full implementation of this and all other bilateral trading arrangements. 
2.15.  I am pleased to inform you that Barbados rece ntly completed a review of its foreign policy, 
of which trade is a critical component. This review reinforced the importance of participation in 
trade at the global level. Even though Barbad os produces a number of high quality goods and 
services, we are small and as such often unable to achieve the economies of scale which would 
enable us to better more favourably in the international market. This underscores the need for 
more effective Aid for Trade and for technical assistance in Trade Facilitation to enable small economies like Barbados to better integrate into the global market place.  
2.16.  We made significant progress in Bali but our work is not finished. I implore fellow Members 
to seek to urgently conclude the remainder of the Doha Development Agenda. We must employ additional effort to establish the Post-Bali work programme. Of great significance must be the work programme for Small and Vulnerable Economies. I know that all the Members here recognize that 
SVEs require a special dispensation in order to allow us to actively participate in the global trading 
system. The level of trade of these small countries can in no way distort the overall trade of the world but the impact and effect of world trade on our small countries, like Barbados, is substantial.  
2.17.  Barbados, like all other small developing co untries, has been confronted with difficult 
financial and economic circumstances during the review period. However, Barbados still remains a preferred place from which to do business. We are an OECD approved domicile with a 
well-educated population, with over 98% literacy ra te. A high quality of life has been maintained 
and Barbados remains a safe jurisdiction in which to live and operate.  
2.18.  In closing, I wish to reiterate that Barbados has instituted policies and programmes which 
are designed to stabilize the country and place it on a pathway to progress, growth and 
development. We are working to achieve some of our targets this year as we pursue Adjustment, 
Reform, Recovery and Sustainability.  WT/TPR/M/308 • Barbados 
 
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  2.19.  We take this opportunity to express our thanks to the staff of the Secretariat and commend 
them on a very comprehensive report. We would like to congratulate WTO Members on the valuable work which they are doing. We know arriving at consensus can be quite challenging and we note the progress in that regard. The Gove rnment of Barbados remains committed to the 
process of managed, fair and equitable trade lib eralization and achieving better transparency.   
2.20.  Madam Chair, Ladies and gentlemen, I thank you and the people of Barbados thank you. WT/TPR/M/308 • Barbados 
 
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  3  STATEMENT BY THE DISCUSSANT 
Introduction 3.1.  Barbados is a small island country in the Caribbean with a population of only 286,000. 
3.2.  It has an open economy which is highly depe ndent on imports. In 2013, merchandise imports 
and exports were respectively about 40% and 18% of GDP. Barbados' main merchandise exports 
were fuels, food and chemicals. The main import s were fuels and food which account for nearly 
50% of total imports.  
3.3.  Given its size, geography and open economy, Barbados is highly vulnerable to external 
shocks, and the 2008 financial crisis was no exception. 
3.4.  Notwithstanding the grave challenges posed by the global crisis, Barbados has continued to 
sustain a high quality of well-being for its people as evidenced by its ranking at 59 (out of 180) in 
the UNDP's 2014 Human Development Report. 
Developments since Barbados' last TPR in 2008 Some aggregate statistical indicators 
3.5.  Since its last TPR in 2008, the full effects of the global crisis continue to unfold and to impact 
significantly on Barbados' economy. 
3.6.  GDP contracted sharply in 2009, and has been growing at very moderate rates since 2010. It 
is expected to contract by some 1% in 2014, before recovering slightly in 2015. 
3.7.  Current account deficit reached 11.6% of GDP in 2013, compared with 9.6% in 2008. Both 
the trade and services balances worsened. 
3.8.  Barbados' fiscal deficits continue to worsen resu lting in rising public debt. Though expenditure 
had remained steady as a percentage of GDP, th ere has been a decline in revenue as a share of 
GDP, caused by the reduction in tax revenue, and various tax incentives to help businesses. 
Overall policy orientation 
3.9.  Barbados' overall economic policy orientation continues to be open and outward looking, in 
order to derive benefits for growth and developmen t. There are few barriers or restrictions to trade 
and investment. The Government nurtures a business-friendly operational environment in general, 
and provides various incentives and credit in some cases. Barbados is committed to the 
multilateral trading system (MTS) embodied in the WTO. Deeper regional integration in the context 
of the CARICOM continues to be of primary importance. The bilateral economic agreements concluded between CARICOM and non-CARICO M partners are also very important. 
Services 
3.10.  Services accounts for about 78.7% of GDP. Tourism is by far the most important economic 
sector which also attracts the most foreign investment, and earns the most foreign exchange. 
Tourism has important spill-over effects on activities including construction and manufacturing. 
Tourism and related activities contribute to over 50% of GDP. However, following the global crisis, 
tourist arrivals and expenditure dropped significantly. 
3.11.  Finance and business services contributed to  about 30% of its GDP. Barbados has a 
well-developed and open financial services sector. The onshore financial sector comprises commercial banks, trust and finance companies, credit unions and insurance companies. The off-shore financial sector comprises banks, captive insurers, holding companies and management 
companies. In addition, there are nearly 4,000 international business companies licensed in 
Barbados. WT/TPR/M/308 • Barbados 
 
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  3.12.  The onshore banking system was particularly a ffected by the global crisis but its banks 
remain well capitalized. The offshore sector remained profitable with satisfactory capital adequacy. The insurance sector was affected by the collapse of CLICO, a regional insurance group with a subsidiary in Barbados. 
Manufacturing 
3.13.  The manufacturing sector's contribution to GDP ranged from 7.2% to 6.1% during the 
period under review. Despite the numerous incentives  programmes at its disposal and strong tariff 
protection for certain products, the manufacturing sector contracted by 30% in volume terms 
between 2007 and 2012. 
Agriculture 3.14.  Agriculture's share of GDP ranged between 1. 4% and 1.6%. Although its share of GDP is 
small, Barbados considers agriculture an important sector for food security reasons, and also as a 
potential source of foreign exchange earnings thro ugh exports. Accordingly, a National Agricultural 
Strategy to boost food security and agriculture production and productivity is currently being 
developed. 
Trade and trade-related policy changes – by measure 3.15.  Tariffs. During the period under review, there were no increases of applied rates to the 
bound tariffs of products from WTO Members. 97.1 % of tariff lines are bound. Duty-free treatment 
is granted to imports from CARICOM countries. Tariff preferences are also given to Colombia, 
Cuba, the Dominican Republic and the EU which have signed trade or economic agreements with CARICOM. 
3.16.  Incentive programmes for export promotion. There continued to be incentive programmes 
aimed at promoting exports. Five of these programmes have been notified to the WTO. Barbados 
also grants other tax and tariff concessions under a number of programmes. There are also a 
number of credit facilities available to businesses.  
3.17.  Competition policy. Since its last review, Barbados has continued to encourage competitive 
markets through competition policy and consumer protection enforcement activities, as well as 
utilities regulation. The competition authority has been granted ample investigative powers and a 
strong enforcement mandate. 
3.18.  Trade facilitation. Barbados has made considerab le progress in adopting trade-facilitation 
measures. Customs clearance can be carried out electronically and mechanisms for advanced 
ruling are in place, as is risk assessment, with merchandise channelled through four lanes 
according to risk. 
3.19.  Government procurement. Government procurement rules were modified in 2011. Contracts 
of over US$100,000 are now procured by open tendering. A new procurement law aimed at 
enhancing transparency and efficiency is currently  being drafted. Barbados is not a party to the 
WTO GPA. 
3.20.  Intellectual Property (IP). Barbados' IP legislation covers all major areas contained in the 
TRIPS Agreement. There were no major changes to  its IP legislation during the review period. 
However, Barbados is currently reviewing this legislation so as to enable it to join certain WIPO agreements. Barbados is also considering legal ch anges with regard to geographical indications. 
3.21.  Others. During the period under review, Ba rbados did not institute any anti-dumping, 
countervailing or safeguard measures against any products entering its borders from WTO 
Members. Barbados removed a number of products  from import licenses. The licensing regime 
continues to favour imports from CARICOM partners . No quantitative restrictions were imposed.  WT/TPR/M/308 • Barbados 
 
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  Commitment to the multilateral trading system 
3.22.  Barbados is an original Member of the WTO, and is an active participant in the WTO. 
Barbados is a strong advocate of the interest s of the Group of Small, Vulnerable Economies 
(SVEs). For example, Barbados' Permanent Representative Dr. Marion Williams and her team 
played a constructive role in the shaping of the special and differential treatment provisions in the 
Trade Facilitation Agreement (TFA). 
Deeper regional integration; and entering in to various other economic agreements with 
parties outside of the region. 
3.23.  Regional integration and bilateral agreements. Barbados is a founding member of the 
CARICOM. Participation in the CARICOM, and th e bilateral trade agreements between CARICOM 
and other partners are of utmost importance. Of particular economic significance is the 
CARIFORUM-EU Economic Partnership Agreement. CARICOM has bilateral trade agreements with 
Colombia, Costa Rica, Cuba, the Dominican Republic and Venezuela. 
3.24.  Other preferential schemes. Barbados is also a beneficiary from the following unilateral and 
non-reciprocal schemes: the Generalised System of Preferences (GSP) schemes; the Caribbean 
Basin Initiative (CBI), under which Barbados is eligible for duty-free access to the U.S. subject to rules of origin; and CARIBCAN, under which most exports originating in Barbados and other 
CARICOM countries enjoy duty-free access to Canada. CARIBCAN will expire soon, and is set to be 
replaced by a reciprocal Canada-CARICOM FTA which is being negotiated. 
Potential areas for further discussion 3.25.  Following are some thoughts on potential areas for further discussion at this TPR. They are 
presented in no particular order. 
3.26.  CARICOM vs non-CARICOM import licensing requirements. Barbados' import licensing 
regime favours imports from CARICOM partners. Members may find it useful to learn more about 
the differences between the requirements for CARICOM members compared with non-CARICOM 
partners. 
3.27.  Applied and Bound tariffs. Barbados' averag e applied tariff in 2014 was 15.9%, which was 
above the CARICOM average. Barbados' average bound  tariff rate is 87%, five times higher than 
its average applied rate. Narrowing the gap by re duction of tariff peaks would contribute towards 
enhancing the predictability of Barbados' trade regime. 
3.28.  Trade facilitation. Barbados has made significant steps to enhance trade facilitation. Bearing 
in mind its significant contribution in shaping the final outcome of the TFA, Barbados may wish to 
ratify the TFA in time for the 10th WTO Ministerial Conference, to help bring the TFA into force as 
soon as possible. 
3.29.  Government Procurement. At an appropriate time, Barbados may wish to accede to the GPA.  
3.30.  Regulatory regime. Barbados ranks a relative ly low 106 (out of 189) in the World Bank's 
Ease of Doing Business Index for 2014. This seems to imply that there is room for improvement in 
Barbados' regulatory regime to help firms to start up and operate in the country. 
3.31.  Revitalize the current economic mainstays. Me asures are underway to revitalize the current 
economic mainstays of tourism, manufacturing and agriculture. 
3.32.  Broaden the economic base. Barbados has come a long way in diversifying from a 
mono-crop economy at its independence in 1966, when the sugar industry constituted 60% of 
GDP. This notwithstanding, Barbados' current economic base is still relatively narrow, with the tourism sector and related activities responsible for over 50% of economic activity, and 
government and financial services accounting for most of the rest. There could be room for further 
broadening of Barbados' economic base. WT/TPR/M/308 • Barbados 
 
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  3.33.  Expand the pool of economic partners. In concert with CARICOM, Barbados may wish to 
expand its pool of economic partners to includ e new regions. During the period under review, 
Barbados has already sent delegations to explore opportunities in Brazil, Costa Rica and Panama. Barbados may wish to step up these efforts, including to the Asia-Pacific and Africa. 
3.34.  Fiscal policy. Fiscal consolidation is a priority for the Government. Tough measures have 
already begun to be taken in accordance with its medium-term strategy to address the fiscal 
situation. These include, on the one hand, increasing revenue, for example, through increases in 
VAT; and on the other hand, reducing expendit ure, for example, by removing government 
subsidies on diesel. 
The way forward The Government's response 
3.35.  The Government realizes that structural changes are needed to restore growth and 
macroeconomic stability in the medium-term. Focus will be placed on improving productivity, diversifying the economy, as well as achieving fiscal consolidation and debt sustainability. Hence, 
in partnership with the labour representatives and the private sector, the Government has set out 
the Medium-Term Growth and Development Strategy (MGDS) 2013-2020, which sets out a sequence of managed structural adjustments and reforms which are critical to the country's 
sustainable economic, human and social development. 
3.36.  The Government has begun to implement the MGDS as shown by the examples already 
referred to. I would also highlight some of the measures undertaken in respect of the key tourism sector. These include enhancing the capacity of hoteliers to improve significantly on their facilities, 
undertaking new marketing initiatives, and working to boost airlift out of the U.S. and the 
Canadian markets. 
Conclusion 
3.37.  Within a few decades from its independence, Barbados transformed from a low-income 
single-crop economy, into an economy built on tourism and offshore banking that generates one of the highest per capita incomes in Latin America. Barbados continues to rank high on the UNDP's 
Human Development Index. It is also no accident that corruption is low – Barbados ranks 17 out of 
175 countries and territories in Transparency International's Corruption Perceptions Index for 2014. This is the same rank as Hong Kong China, Ireland and the U.S. Barbados is ranked 55, out 
of 144, in the WEF's Competitiveness Index for 2014-2015. Barbados' resilience, strong 
fundamentals, openness to trade and investment and close integration into the world economy will 
help it to weather the current crisis. It enjoys political, social and economic stability, which has translated into good governance, well-functioning institutions, a well-educated population and 
good infrastructure. 
3.38.  I would like to conclude by wishing Barbados a successful TPR, and a smooth and effective 
implementation of its MGDS for Barbados' continued growth and development. WT/TPR/M/308 • Barbados 
 
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  4  STATEMENTS BY MEMBERS 
CHINA 4.1.  China noted that Barbados, as a small and vulnerable economy, has been negatively 
influenced by the global economic recession over the past six years, with its economic 
development undergoing great difficulties. Howeve r, the Government of Barbados has taken a 
serious of targeted measures, noticeably Medi um Term Growth and Development Strategy, to 
promote domestic structural reform so as to achieve its sustainable development. China 
commends the efforts made by Barbados in balanc ing its financial deficit and exchange rates, 
which is enabling Barbados to return to the road of growth and development. 
4.2.  As mentioned in the Secretariat's report, the Government of Barbados seeks to attract 
foreign investment by offering a favourable business environment and a number of incentive 
schemes. These measures include Barbados' decent basic infrastructures and well-educated labour 
force. What's more, Barbados has achieved si gnificant progress in trade facilitation, and 
maintained an overall open trade regime. All the above measures have laid solid foundation for 
Barbados to conduct foreign trade and economic cooperation. 
4.3.  The Government of China attaches importance in developing friendly relations and 
cooperation with Barbados, within which economic and trade relations are essential parts. The 
bilateral trade has maintained fast growth in the recent years, and the export and import trade 
value between the two countries in the first 11 months of 2014 totalled US$80.8 million, an increase of 14% over the same period of 2013. 
4.4.  China is willing to deepen economic and trad e cooperation with Barbados at multilateral, 
regional and bilateral platforms including WTO and China-Caribbean Economic and Trade 
Cooperation Forum. 
GUATEMALA 
4.5.  Guatemala values its relationship with Barbados, to which it is very close geographically, and 
recognizes the significant potential to strengthen its trade ties. This was evidenced by the meeting 
held between the Barbadian and Guatemalan authorities in September 2014, during which issues 
of regional interest were addressed and concre te ways to facilitate trade between the two 
countries were discussed. In the past, the flow of bilateral trade has been based on agricultural and manufactured goods. However, we believe that it is important to continue considering options to expand the range of products and services traded, and to encourage investment. 
4.6.  With regard to today's review, we greatly welcome the implementation by Barbados of 
measures to strengthen trade facilitation, the launching of programmes to enhance competitiveness, and the fact that Barbados maintains a trade regime with few barriers in general 
and is actively involved in the multilateral trading sphere. Nevertheless, we are concerned by the 
strong impact of the financial crisis in Barbados, which caused its economy to contract significantly, particularly in key sectors such as tourism. As part of the Group of Small, Vulnerable 
Economies, Guatemala shares its concern about the profound effects that the crisis may have on 
our countries, which calls for special attention to the flexibilities and measures put forward by the Group at the WTO to increase its participation in world trade and improve its integration in the multilateral trading system. 
4.7.  Guatemala acknowledges the efforts made by Barbados during the period under review and 
wishes the Barbadian delegation a successful conclusion to its trade policy review. 
CANADA 
4.8.  Canada is pleased to participate in this review of the trade policy measures of Barbados. We 
also want to congratulate the Government of Barbados and the Secretariat of the WTO for their respective comprehensive reports which furnish information on significant commercial and 
economic developments since the last review in 2008. Both reports highlighted a number of 
significant challenges faced by Barbados, notably the global financial crisis - which had a significant impact on the Barbados economy, redu cing key sources of revenue such as tourism, WT/TPR/M/308 • Barbados 
 
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  foreign investment, financial services, remittances from nationals overseas and depleting foreign 
reserves. Today, we are very pleased to note th at, although there are still a number of difficult 
issues to be resolved, the economy appears to be improving - even if incrementally.  
4.9.  Canada and Barbados enjoy a long trading history that extends back to the 17th century and 
traditional exchanges of sugar and rum for cod and lumber. Today, the Canada-Barbados' trade 
relationship is decidedly more modern, as Barbados is a key market for Canadian foreign direct investment and services trade. 
4.10.  Barbados is host to significant Canadian direct investment, primarily in the financial services 
sector, and, in 2013, was Canada's third largest investment destination after the United States and the United Kingdom. The stock of Canadian direct investment in Barbados was US$47.2 billion in 2008 and reached US$63 billion in 2013. Barbados is an attractive and transparent tax efficient, 
with a network of tax and investment treaties that allow internationally active firms to gain greater 
and easier access to global markets through the establishment of local operations. We note Barbados' continued commitment to further enhance transparency and exchange of information in 
the tax area through its participation in the Global Forum on Transparency and Exchange of 
Information for Tax Purposes. Although the latest Tax Transparency Report noted Barbados still has work to do in implementing the internationally agreed standards, we believe that both Canada 
and Barbados already derive important economic benefits from existing arrangements and that 
these benefits have the potential to grow as Barbados moves toward full implementation. Canadian firms are able to manage their internationa l tax portfolios more efficiently, benefit from a 
well-developed local financial services industry, and leverage their international export and 
investment operations. Barbados, for its part is able to generate value-added employment, acquire 
valued legal, financial and management capabilities, and derive tax revenue from those operations.  
4.11.  Barbados is also an important partner for Canada in the area of trade in services. Two-way 
trade in services was valued at US$1.6 billion dollars in 2008 and at US$2.2 billion dollars in 2013. Bilateral merchandise trade, by contrast has been modest. In 2008, it was valued at 
US$59.3 million and in 2013 at US$170.2 million. We are pleased to note that Canada remains an 
integral source market for Barbados' tourism, representing the third largest contributor to this significant sector. 
4.12.  We noted that the Government of Barbados has highlighted in its report to the WTO 
Secretariat that it has put in place a "Growth and Development Strategy – Adjustment, Reform, 
Recovery and Sustainability" in an effort to address and resolve a number of critical issues. We also noted that international trade was identified  as the "engine of growth" and that Barbados 
would continue to seek to enter into bilateral trading arrangements which best suit its needs.   
4.13.  We are pleased that Barbados has recognized the importance of a diversified economy, even 
while recognizing the challenge faced by small economies. Barbados has also recognized that 
exports, whether from the manufacturing or the agricultural sector, contribute only a small 
percentage to its GDP and that it will theref ore have to concentrate on diversification and 
deepening of inter-sectoral linkages between such areas as agriculture and tourism. 
4.14.  Barbados clearly identified energy costs as an important constraint to competitiveness, but 
is committed to pursuing other non-oil based sources of energy. We noted that consideration 
would be given to the construction of a "waste-to-energy facility" which could serve the dual purpose of reducing the country's solid waste and generate a significant portion of the country's 
power requirements. As well, incentives are bein g provided to promote other types of renewable 
and alternative energy-efficient technologies, which can contribute to reducing the high fuel import bill. Indeed, several Canadian companies are exploring business opportunities in Barbados and 
other countries of the Caribbean region aimed at introducing such transformative energy 
technologies. 
4.15.  In a similar vein, we applaud the Government of Barbados for exercising sound 
environmental stewardship in protecting its na tural environment through the improvement and 
upgrade of tourism infrastructure – thus contributi ng to the sustainability of one of its primary 
foreign exchange earning industries.  WT/TPR/M/308 • Barbados 
 
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  4.16.  While we acknowledge the efforts of the Government of Barbados to put in place measures 
and policies to generate macroeconomic stability and growth, recent international reports such as the World Bank's Ease of Doing Business 2015, ranked Barbados 106th of 189 countries with a rank of 91 for "ease of starting a business." The World Economic Forum's Competitiveness Index, 
ranked Barbados 55th of 144 countries surveyed. On the other hand, Barbados was more 
favourably reviewed by Transparency International on its Global Corruption Perception Index of 2014 in which Barbados ranked 17th globally of 175 countries and was tied for second place in the 
Americas beside the United States and behind only  Canada. All this is to say that while there has 
been progress on a number of indicators there is still a lot of work ahead. In this regard, we welcome the Government's recent establishment of a Business Facilitation Unit, which "will seek to 
increase the ease and speed of doing business". 
4.17.  Weak macroeconomic performance since the global financial crisis in 2008 has led to a 
surge in public debt and rising fiscal financing pressures. We think that it will be important for the Government of Barbados to continue to concentrate on reducing the National Debt, which stood at 
97.2% of GDP in 2013 (gross debt, IMF), to more sustainable levels, as well as to continue 
reducing the fiscal deficit, which, according to the IMF, stood at 13% of GDP in 2013. Moreover, foreign reserves fell precipitously during 2013. Although they closed the year at US$578 million, or 
about 3.2 months of imports (IMF), they were reportedly down to around US$500 million as of 
November 2014, and will need to be improved upon, going forward.    
4.18.  In conclusion, as stated earlier, Canada and Barbados have a longstanding and valued 
relationship which has sustained us through good and bad times. In the spirit of that relationship, 
Barbados can count on our support in its efforts to continue to strengthen, expand and address 
key challenges facing the national economy. 
EUROPEAN
 UNION 
4.19.  Barbados is a very small State, but a major diplomatic, economic and transport hub in the 
Eastern Caribbean region. 
4.20.  As recognized by the Secretariat report, Barbados' relatively small size and island location 
make the country highly dependent on imports which,  together with a high level of debt, have left 
Barbados extremely vulnerable to exogenous shocks.  
4.21.  The EU acknowledges that Barbados has been seriously affected by the 2008 crisis, 
predominantly through the traded sectors – tourism, financial services and real estate investment 
- with significant negative spill over effects on local construction activity and other related sectors.  
4.22.  The EU notes the efforts undertaken by the Go vernment to put in place a programme of 
economic reforms to stabilize and re-position the economy to realize growth, to diversify its 
economy and to continue on its path of development.  
4.23.  A word on the EU's bilateral relationship with Barbados.  
4.24.  Barbados and the EU share a long history, culture and a broad base of common values. The 
EU has traditionally been the third largest trading partner of Barbados. In 2013, the share of the 
total world trade amounted to 8.4%. Moreover, th e EU companies are important foreign investors 
and have a major stake in the economic development of Barbados particularly in the service industries such as financial services and tourism. 
4.25.  Formal relations between the EU and Barbados are positive. They are currently underpinned 
by the Joint Caribbean-EU Partnership Strategy, the Cotonou Agreement and the EU Economic Partnership Agreement (EPA) between the EU an d CARIFORUM (Caribbean Forum – Forum of the 
Caribbean Group of African, Caribbean and Pacifi c States). Those agreements are the basis of a 
lively cooperation with Barbados in a wide range of fields going beyond the mere trade and investment aspects, such as for example in science and technology, higher education and people 
to people exchanges as well as public sector reform, energy and climate adaptation. Moreover, 
Barbados receives development cooperation fund s under the Accompanying Measures for Sugar 
Protocol Countries (AMSP) and the European Development Fund. WT/TPR/M/308 • Barbados 
 
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  4.26.  In this respect, the EU was surprised to note that the CARIFORUM-EU EPA as a major 
instrument of economic cooperation between Barbados and the EU is not mentioned in the Government's report.  
4.27.  At the multilateral level, the EU agrees with Barbados on the necessity to push for a speedy 
conclusion of all areas under negotiation under the Doha Round. Furthermore, considering that 
Barbados, in its Government report, declared that Trade Facilitation is an important issue for them, the EU expects Barbados to proceed speedily wi th its notification at the WTO with as many 
commitments in Category A as possible.   
4.28.  Despite these positive aspects, the EU submitted to Barbados a number of questions as 
regards Barbados trade and investment policy making. Today, I will list only a couple of them: 
4.29.  First of all, I would like to refer to Barbados' dual-licensing regime that favours imports from 
other CARICOM partners. In our written question s, we ask Barbados to clarify which are the 
monitoring requirements applicable to CARICOM and non-CARICOM countries, highlighting the differences between the two sets of requirements. 
4.30.  Secondly, considering that the tourism sector and the related activities are responsible for 
over 50% of the economic activities in Barbados, the EU is interested to understand the licensing 
rules applicable for accommodations and restaurants as well as to receive more details on the 
existing regime for tourism services. Clear and non-discriminatory rules would not only remove 
current obstacles for international trade but also further integrate Barbados into the multilateral trading system and increase its commercial links with WTO Members.  
4.31.  In closing, the EU is confident that the current exercise will help Barbados in further 
reviewing its policies so as to ensure that they are most favourable for attaining its economic 
objectives while respecting their inte rnational commitments in this forum. 
BRAZIL 
4.32.  Brazil recognizes the severe and continued effects of the global economic crisis in Barbados. 
As a small island developing country, Barbados  faces particular challenges that are not 
experienced by countries with more robust do mestic economies. Those challenges are even 
greater considering the current international economic environment.  
4.33.  My delegation hopes the fiscal consolidation programme will aid in the reduction of the 
existing deficit and help restore fiscal sustainability. We also welcome the initiatives being undertaken in order to increase the competitiveness of Barbados national producers, as well as 
measures to facilitate trade.  
4.34.  Brazil will also follow with great interest the studies to expand the scope of sugar-related 
activities in order to produce ethanol and generate electricity. As it is known, Brazil is one of the 
main developers of ethanol originated from sugar cane and remains very much interested in 
developments in the area. 
MEXICO 
4.35.  As mentioned earlier, the global economic crisis adversely impacted Barbados, resulting in 
serious damage to its tourism industry, which is its largest contributor to GDP (around 50%). Barbados has found it difficult to restore competitiveness in the sector, which has caused its economy to contract for the past three years and unemployment to rise by almost 4.3 percentage 
points since 2007. 
4.36.  The economic crisis has also damaged government  finances and led to an increase in public 
debt, which amounted to 126% of GDP in 2013. Barbados may furthermore be facing an 
overvaluation of its currency, which affects its tourism competitiveness. Given this unfavourable 
environment, we welcome the development strategy  adopted by the Government of Barbados, the 
key points of which have been described by Minister McClean, including various measures to 
reduce the country's fiscal deficit and boost the tourism sector, and a particular emphasis on 
developing the manufacturing sector. We trust that these highly significant measures will enable WT/TPR/M/308 • Barbados 
 
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  Barbados to branch out and draw maximum benefits from trade as an engine of growth, stabilize 
its public finances and reduce the public debt to  a more sustainable level, and also to promptly 
return to a trajectory of economic growth and job creation. 
4.37.  As regards its tariff policy, we note that in 2014, Barbados applied an  average MFN tariff of 
12.3% on non-agricultural products, with peaks of 145%, and of 33.9% on agricultural products, 
with peaks of up to 216%. Its bound tariffs are at a rate of 111% for agricultural products (according to the WTO definition) and 76.2% for non-agricultural products. We believe that the 
large gap between its bound and applied tariffs reduces the predictability of its trade regime. 
4.38.  With regard to technical regulations, there is a substantial difference between the 
regulations in force and those which have been noti fied to the WTO. The review points out that the 
last notification was submitted in 2006, and that  since this date, no new regulations have been 
adopted. Concerning sanitary and phytosanitary measures, we welcome the establishment of the 
National Agricultural Health and Food Control Agency (NAHFCA), which will review the current 
legislation in order to verify its consistency with international agreements, standards and codes. 
4.39.  The services sector represents over 80% of th e country's GDP, with financial, tourism and 
transport services being the main contributors. Alth ough the financial sector does not appear to be 
a source of immediate risk for the Barbadian economy, according to the IMF report on the country 
(February 2014), it is still vulnerable to extern al shocks despite the improvements made to its 
regulatory and supervisory regime. The IMF suggests strengthening areas such as the 
independence of the Central Bank, increasing action to prevent losses on loans, and improving supervision of the insurance sector. 
4.40.  We commend Barbados on its trade facilitation measures, in particular the electronic 
performance of customs clearance and the introduction of advance rulings. According to the report, the maximum period of time for customs clearance is 48 hours, or one day for perishable 
products. In this regard, we would like to know what progress has been made in terms of the 
creation of a single window and the adoption of the ASYCUDA World system. We would also like to 
commend Barbados for the measures taken to e nhance its competitiveness, through the strict 
implementation of its competition policy, especia lly given the size of its economy and the small 
number of suppliers of certain products and services. We furthermore welcome the changes 
introduced regarding its government procurement regime and the measures adopted to reinforce competition in the telecommunications sector. 
4.41.  We thank the Government of Barbados for it s answers to the questions submitted by my 
delegation and wish it every success in this review and in the implementation of its development and growth strategy. 
COLOMBIA 
4.42.  At the end of the 17th century, Barbados suffered a crisis resulting from various natural 
disasters such as plagues, fires, hurricanes, drou ghts and floods. Fortunately, the difficulties and 
challenges faced by the country today are different, yet they still have a negative impact on its 
economy, which is the case for the consequences of the 2008 financial crisis. 
4.43.  This was demonstrated by the drastic decrease in revenue from tourism and the ensuing 
contraction of GDP, which has had serious repercussi ons, as the sector represents over 50% of the 
economy, and is the main driver of economic gr owth, the largest recipient of foreign investment, 
and the most significant foreign exchange earner. 
4.44.  Another consequence has been the growing trend of fiscal deficit, accompanied by an 
increase in the public debt, a decline in services exports and a significant trade imbalance. 
4.45.  Despite this situation, it is clear to Barbados that its growth and development are 
inextricably linked to its rights and obligations in the WTO, as indicated in its report. In this regard, 
the country maintains a relatively liberal trade regime with very few barriers to entry. It also 
continues to provide a stable business climate, ad equate infrastructure and a trained workforce. WT/TPR/M/308 • Barbados 
 
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  4.46.  As regards trade policy, Barbados has reco rded several significant developments, as 
indicated in the Secretariat report, namely: 
 the formal establishment of the Barbados Revenue Authority; 
 the adoption of new measures to further facilitate trade; 
 the implementation of an open investment regime with few restrictions; 
 launching of the process to establish a National  Agricultural Health and Food Control Agency; 
 continued efforts to encourage competitive markets through a competition policy; 
 the current process of drafting a new procurement law aimed at enhancing transparency and 
efficiency; and 
 the current review of its intellectual property legislation to enable the country to join certain 
WIPO agreements. 
4.47.  Despite the above and other positive developments, there are still areas of concern for 
investors, Barbados' trading partners and WTO Members, such as: 
 the absence of a general law to guarantee market access and national treatment for foreign 
investors; 
 delays in the submission of certain notifications; 
 the continued implementation of various ince ntives schemes aimed at solely or partly 
promoting exports, with maturities that appe ar to exceed those authorized by the WTO; 
 the large number of tariff and tax concessions that are currently being granted, and which 
may not be producing the results expected; and 
 the lack of an authority in charge of conducting investigations concerning contingency 
measures. 
4.48.  Lastly, we wish to highlight Barbados' active involvement in the WTO, in particular the 
message that the country has conveyed, on its own account and on behalf of the small, vulnerable 
economies, with regard to the importance of the multilateral trading system for such economies. 
4.49.  We are convinced that Barbados will be able to overcome the difficult times that it is facing, 
as it has done in the past, and that it will ac hieve the objective of sustainable economic, human 
and social development within the planning horizon 2013 2020, as outlined in its "Growth and 
Development Strategy". 
UNITED  STATES 
4.50.  As we noted during the 2008 Trade Policy Review , Barbados is a valued hemispheric partner 
of the United States, and the commercial rela tionship between our countries is vibrant and 
growing. The United States is Barbados' top trading partner, and total two-way goods trade during 2013 was US$508 million. Despite the difficulties during the 2008 and 2009 global financial crisis, 
U.S. goods imports from Barbados rebounded quickly and by 2013 had increased nearly 70% from 
their low in 2009, totalling US$55 million in 2013.   
4.51.  Barbados is a beneficiary of the U.S. Caribbean Basin Initiative, which aims to facilitate the 
economic development and export diversification of the Caribbean Basin economies by providing 
countries with duty-free access to the U.S. market  for most goods. Further, most of Barbados' 
exports enter the United States duty-free. WT/TPR/M/308 • Barbados 
 
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  4.52.  The Secretariat's report describes the tourism sector as of vital importance to Barbados' 
economy, contributing over 50% of the country's  GDP, with government and financial services 
accounting for most of the rest. The United States continues to be one of Barbados' principal sources of tourist arrivals with travellers from the United States representing more than 20% of 
arrivals in 2013. 
4.53.  We note that the Secretariat reports that Barbados has made considerable progress with 
respect to the adoption of trade facilitation meas ures. We welcome the adoption of such measures, 
as well as the statement by Barbados that trade facilitation is an important issue. As Barbados is 
currently in the process of scheduling its TFA commitments, we look forward to Barbados' TFA notification, and eventual acceptance of the TFA, and we stand ready to support Barbados with the 
scheduling process where we can.  
4.54.  We applaud Barbados' initiative, as outlined in the Secretariat's report, to consolidate its 
sanitary and phytosanitary regulatory functions un der a single government agency and to bring its 
plant and animal health and food safety systems in line with international standards. We look 
forward to learning about how these changes will a ffect the requirements for exporters shipping to 
Barbados.   
4.55.  As noted in the Secretariat and the Government reports, Barbados has faced challenges with 
persistently high budget deficits, which will need to be addressed through a mixture of expenditure 
reduction and increased revenue collection. We therefore encourage Barbados to pursue these 
needed reforms in a transparent manner and in consultation with the private sector. We concur with the assessment in the Secretariat's report th at Barbados should use the opportunity provided 
by these reforms to streamline its tariff and tax sy stem and to boost its economic competitiveness.  
4.56.  While we applaud Barbados' continued progress integrating into the global economy, we 
notice that many of the issues identified during previous Trade Policy Reviews have not been fully 
addressed. For example, the Secretariat's report notes that during the review period Barbados 
reduced the number of products for which import licenses are required, but yet licenses are still required for a wide range of agricultural and in dustrial goods and often require approvals from 
multiple ministries. We encourage Barbados to consider ways to streamline its import permit 
processes.   
4.57.  The report also notes that there were no major changes to Barbados' intellectual property 
rights legislation during the review period, and we urge Barbados to review its legislation to make 
it compatible with WIPO treaties. We look forward to working with the Government of Barbados 
bilaterally and through CARICOM to address intellectual property issues, particularly copyright-related, raised in our written comments.   
4.58.  Finally, as was the case during the 2008 Trade Policy Review, Barbados is not a party to the 
WTO Agreement on Government Procurement. We look forward to the results of the proposed 
reforms to Barbados' government procurement regu lations described in the Secretariat's report. 
We have submitted a short list of questions about specific issues in Barbados' trade regime. We 
look forward to reviewing Barbados' responses. 
4.59.  In closing, we would like to welcome the statement by Barbados that it sees international 
trade as an engine for its growth and development. As Barbados noted, liberalization and 
globalization of trade have provided opportunities for small economies to participate in the 
generation of increased trade that ultimately co ntributes to the growth and development of such 
economies. The United States therefore look s forward to further deepening our trade and 
economic partnerships with Barbados and the other members of the Caribbean Community 
(CARICOM). As a founding Member of the WTO,  we commend Barbados for its longstanding 
commitment to the multilateral trading system. We remain committed to continued cooperation 
with Barbados to deepen our relationship bilaterally, in regional fora, and in the WTO. WT/TPR/M/308 • Barbados 
 
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  MAURITIUS 
4.60.  At the outset, my delegation wishes to comme nd the leadership and advocacy role played 
by Barbados for the Small Island Developing States and the small vulnerable economies in Geneva. 
4.61.  This assumes significant importance in the face  of the challenges faced by many developed 
and developing countries with the onslaught of the global economic downturn. The vulnerability of small islands is more pronounced to exogenous shocks and external factors. The current volatility 
in the foreign exchange markets is among one of the factors which seriously impact on the 
economies of SIDS. We are yet to see the impact of the weakening euro, the quantitative easing measures of the European Central Bank and the falling prices of oil on the global markets. 
4.62.  We wish to commend the Government of Barbados for charting a strategy to address the 
impact of the 2008 global economic downturn on its economy. Equally to be commended are the 
efforts of the private sector and the population of Barbados in the common Social Partnership to boost the economic fundamentals of Barbados' economy and institute a series of reforms aimed at 
sustainable economic, human and social developmen t. The overall economic activity, according to 
Barbados Central Bank, has improved by 0.3% in 2014 and is expected to grow by about 2% in 
2015, from tourism and construction sectors and th e spin-off effects to wholesale, retail and 
business services sectors. 
4.63.  We are confident that Barbados authorities would successfully implement its strategy with a 
view to diversifying its economy and bolstering productivity as well as achieve fiscal consolidation and debt sustainability. A path well known to Mauritius, for having taken similar bold measures to 
address inherent structural and international constraints. 
4.64.  Both Barbados and Mauritius, as small economies and though from different regions, share 
the same importance of intra-regional trade and improved trade facilitation coordination to enable 
further trade flows between the countries in our respective regions. 
4.65.  My delegation looks forward to working closely with the delegation of Barbados as we 
engage in an important year at the WTO to discuss the establishment of the Post Bali Work 
Programme, progress on the Doha Development Agenda with the overall objective of a 
development centred and fair and balanced outcome. 
REPUBLIC
 OF KOREA 
4.66.  Let me begin by commending Barbados for its targeted policy efforts during the period 
under review, as outlined in its Medium Term Gr owth and Development Strategy to overcome the 
impacts posed by many economic challenges and to seek to chart a clear direction for its economic growth and development priorities from 2013 to 2020.  
4.67.  Korea would like to commend Barbados for its active participation in the multilateral trading 
system, in particular through its coordination of the Small, Vulnerable Economies (SVEs) Group as 
well as its active engagement in the CARICOM an d other regional and bilateral trade agreements. 
We believe that the main objective of all of these efforts is to liberalize its trade, thus seeking to 
further integrate its economy into the global economic system. In this regard, we expect Barbados will continue to contribute to the enhancement of the WTO system. 
4.68.  With regard to the implementation of the Trade Facilitation Agreement, as Barbados had 
played an instrumental role in concluding the TFA and in the legal scrubbing of the texts, based on 
its readiness and sensitivities, we expect Barbados to play a prominent role in the implementation process forward by notifying the schedule of its commitments in Categories under the TFA in a 
time l y mann e r, as  we l l a s  the  formul ation of the  P os t-Bali wor k p rog ramme  in ke y are as , as  a 
stepping stone to concluding the DDA negotiations. 
4.69.  Korea would like to share the concerns of other Members with respect to trade policies of 
Barbados such as lack of the WTO notifications in some areas and import restrictions and licensing 
procedures. WT/TPR/M/308 • Barbados 
 
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  DOMINICAN  REPUBLIC   
4.70.  The Dominican Republic shares close bonds of friendship with Barbados, as an ACP country, 
a member of the Group of Small, Vulnerable Economies, and a party to the CARIFORUM EU 
Economic Partnership Agreement. 
4.71.  As indicated in the Secretariat report, the global economic crisis has seriously affected the 
economy of Barbados, leading to a major decline in revenue from tourism, on which the country is highly dependent. GDP decreased significantly in  2009, and has shown little growth since 2010. It 
is expected that in 2014, GDP will fall by around 1% before recovering slightly in 2015. In recent 
years, weak economic activity has caused inflation to decrease from 9.4% in 2011 to below 2% in 2013 and 2014. 
4.72.  Furthermore, Barbados has a serious fiscal defici t problem. Since the last review of its trade 
policies, it has registered mounting fiscal deficits resulting in rising public debt. The fiscal deficit 
climbed from 3.4% of GDP in 2007 2008 to 12.7% of GDP in 2013 2014, leading to a rise in the debt to GDP ratio of over 126%. Per capita GDP has also been declining. We urge the Barbadian 
authorities to swiftly approve and implement the fiscal consolidation programme which would 
enable them to reverse the situation. 
4.73.  Barbados is a small, vulnerable economy, and services are its mainstay. Tourism and 
related activities are by far the main contributors to GDP. There are significant spill over effects 
from tourism on construction, distribution services, electricity, agriculture and manufacturing. The tourism sector was considerably affected by the global crisis, which led to a significant decline in the number of visitors. Total expenditure by stay over tourists declined from US$1.14 billion in 
2008 to US$713 million in 2013. The international economic and financial crisis has hit them hard. 
Despite this difficult economic situation, Barbados maintains a generally liberal trade regime with few barriers to imports. 
4.74.  We welcome the fact that Barbados has a ve ry open investment regime. However, this 
regime still has not been laid down in an investment law guaranteeing MFN and national treatment to all investors, regardless of their origin. We suggest that such a law be drafted and adopted in 
order to ensure greater stability for the investment regime. 
4.75.  We commend Barbados for the significant progress made in terms of trade facilitation. 
Customs clearance can be carried out electronically and currently only around 10% of imports are subject to physical inspection. 
4.76.  We appreciate the continued efforts by Barbad os to encourage competitive markets through 
competition policy and consumer protection enforcement activities, as well as utilities regulation. We agree with the view expressed in the Secretaria t report that, considering the small size of its 
economy and the limited number of suppliers of certain products and services, it is crucial for 
Barbados to enforce competition policy rules in  order to enhance competitiveness and consumer 
welfare and attract foreign investment. The competition authority has been granted ample 
investigative powers and a strong enforcement mandate. 
4.77.  To conclude, we also commend Barbados for the positive changes made to its legislation on 
government procurement. We have submitted several questions to the Barbadian delegation and appreciate the efforts made to answer them. We wish the delegation every success in this third 
trade policy review. 
4.78.  It has been 24 years since my first trip to Barbados with Dominican tourism investors to 
assess the viability of the timeshare schemes which Barbados was starting to implement, and 
which made the country a pioneer in the sector. I was surprised by the level of human 
development in the country, and by its social equality. I hope that Barbados preserves its accomplishments, which are becoming increasingly difficult to find, including in developed 
countries. 
BENIN 4.79.  The delegation of Benin welcomes the delegation of Barbados. WT/TPR/M/308 • Barbados 
 
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  4.80.  Benin would like to congratulate the Barbadian authorities on their efforts and achievements 
in the fields of economic and trade promotion and regional integration. 
4.81.  The reforms carried out by Barbados since the last review of its trade policies in 2008 have 
helped the country achieve significant results in various areas and sectors of activity, such as 
agriculture (mainly the sugarcane sector), the fo od and beverage industry, tourism and financial 
services. 
4.82.  The adoption and implementati on of the Medium Term Grow th and Development Strategy 
2013-2020 provides an important policy framewor k for action and intervention, whose initial 
outcomes will be higher GDP growth and lower inflation rates. 
4.83.  The delegation of Benin urges Barbados' technical and financial partners to maintain and 
step up their support for the country, with a view to achieving the development objectives set and 
overcoming the obstacles it faces, particularly those relating to climate events that affect island 
environments. 
4.84.  The delegation of Benin welcomes Barbados' significant contribution to the work of the WTO. 
4.85.  Lastly, it wishes Barbados every success in its trade policy review. 
INDIA 4.86.  As brought in the two reports, Barbados has not been insulated from the global economic 
crisis. In fact, it has taken a severe hit as evident from its mostly flat economic growth during the 
period under review, a sharp decline in tourism rece ipts, its mounting fiscal deficit and public debt, 
and persistent external current account deficit. 
4.87.  To respond to these economic challenges, Barb ados formulated a Medium Term Growth and 
Development Strategy, namely "Adjustment, Reform , Recovery and Sustainability" which sought to 
chart a clear direction for Barbados' economic gr owth and development priorities from 2013 to 
2020. We are happy to note that some of the initiatives taken by Barbados under this strategy are 
bearing fruit. We wish Barbados every success in navigating through these challenges and 
implementing its vision for economic growth, developing its industrial energy sector, enhancing competitiveness, and fiscal consolidation. We have noted that Barbados deems its participation in 
the Caribbean Community and Common Market (CARICOM), of utmost importance. 
4.88.  My delegation applauds the commitment of Barbados to the multilateral trading system and 
very much appreciates the active and constructive role played by Barbados in the WTO and in the on-going negotiations, especially articulating the interests and challenges faced by small 
economies in the context of work programmes and in other areas of negotiation.  
4.89.  In the bilateral area, India has had very close and historic linkages with the Caribbean 
countries. India and Barbados enjoy friendly ties and the presence and contribution of the Indian 
community has been an important link between ou r two peoples. Though India-Barbados trade 
engagement has, however, been limited, we look forward to enhancing our bilateral trade and economic ties for mutual benefit in the coming years. 
THE
 SEPARATE  CUSTOMS  TERRITORY  OF TAIWAN,  PENGHU,  KINMEN  AND  MATSU 
4.90.  Rather like us, Barbados is a small island economy with a lack of natural resources. 
Therefore, its successful integration into the world economy is always going to be a critical factor in the maintenance of its own economic health in the future. Its high dependence on international 
trade makes Barbados especially vulnerable to external shockwaves. Obviously, the global 
economic crisis has hit its tourism, financial services and construction industries very hard in recent years, and we note, for example, that the level of public debt rose from 82% of GDP in 
2007 to over 126% in 2013. 
4.91.  Nevertheless, Barbados is still one of the most prosperous and developed countries in the 
Eastern Caribbean and enjoys one of the highest per capita incomes when compared to the 
countries of Latin America. The Government of Ba rbados is to be commended on the openness of WT/TPR/M/308 • Barbados 
 
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  its economy and on the serious efforts made to achieve the transformation from sugarcane 
cultivation to light industry and services. We also welcome Barbados' Medium Term Growth and Development Strategy, focusing on adjustment, re form, recovery and sustainability, which will 
involve structural changes designed to restore growth and macroeconomic stability in the 
medium-term. Equally important, we believe, is  the need for further diversification of the 
Barbados' economy in order to reduce its expo sure to the volatility of external demand. 
4.92.  As far as trade policy is concerned, I would just like to mention a few issues in which we 
have a particular interest or concern. 
4.93.  Firstly, regarding its investment regime. Although the regime in Barbados is generally open 
and business-friendly, restrictions still apply in the areas of exchange control and capital 
repatriation, and there appears to be no overall law that guarantees market access or national 
treatment to foreign investors. Here, we would encourage Barbados to attempt improvement as a 
matter of urgency. 
4.94.  Secondly, with regard to tariffs. As noted in the Secretariat's report, the highest rates for 
non-agricultural products continue to be applied on certain fish, and on textiles and clothing 
products up to 145% and 117%, respectively. We would encourage Barbados to further liberalize 
non-agricultural trade, so as to bring greater bene fits to its traders and consumers. Additionally, it 
would be appreciated if Barbados would consider narrowing the gap between bound and applied 
rates, to improve the predictability of its import regime. 
4.95.  And thirdly, concerning the Trade Facilitati on Agreement (TFA), while we acknowledge 
Barbados' active participation in the TFA negotiations, could it please elaborate further on the 
timeframes for its notification of Category A commitments, as well as its ratification of the 
Agreement. 
4.96.  Finally, if I may touch briefly on our bilateral trade relationship. In 2013, the total value of 
two-way trade between us amounted to over US$7 million, 16% higher than the previous year. We 
believe there is potential for expansion in bilateral trade and investment, especially if there is greater diversification of the type of goods and services involved. 
ARGENTINA 
4.97.  Although bilateral trade between Barbados and Argentina is moderate, it has grown 
significantly in recent years. Barbados' main imports from Argentina are wine, soybean oil and sunflower oil, while its main export to Argentina is roasted coffee. 
4.98.  It should be noted that pursuant to Argentina's policy to strengthen relations with Caribbean 
countries, an Argentine embassy has been opened  in Bridgetown. Our country believes that 
a greater presence will facilitate the identification of potential areas of cooperation between the 
two countries. 
4.99.  It is important to highlight that, although the global economic crisis has affected 
the economy of Barbados, the country managed to lower inflation rates from 9.4% in 2011 
to below 2% in 2014. 
4.100.  Furthermore, we are pleased to note that Barbados has begun the "process of establishing 
a National Agricultural Health and Food Control Agency (NAHFCA)".
1 
4.101.  We welcome the fact that the "authorities cons ider that the implementation of the NAHFCA 
has become necessary to ensure that Barbados' an imal and plant health and food safety systems 
comply with international standards".2 
4.102.  In this regard, it should be recalled that "Barbados is a member of the Codex Alimentarius, 
the World Organisation for Animal Health (OIE) and the International Plant Protection Convention 
(IPPC)".3 
                                               
1 WT/TPR/S/308, para. 3.57. 
2 WT/TPR/S/308, para. 3.58. WT/TPR/M/308 • Barbados 
 
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  4.103.  Moreover, we value Barbados' commitment to completing the Doha Round trade 
negotiations currently proceeding under the auspices of the WTO, a process in which all of those present here today are involved and share the desire for a prompt and successful outcome. 
4.104.  To conclude, while reiterating our appreciation of this renewed opportunity to exchange 
to exchange points of view and comments on the trade policy of Barbados, we would like to draw 
attention once again to the importance of this ex ercise in transparency from every point of view, 
and to wish the Barbadian authorities a successful third trade policy review. 
COSTA
 RICA 
4.105.  The delegations that spoke before me have alre ady raised several important points that my 
delegation does not wish to repeat. However, I would like to underscore what was expressed in the Secretariat report, in the opening remarks of the Chairperson and by the discussant, regarding the 
progress made by Barbados in the adoption of trade facilitation measures. We therefore encourage 
Barbados to notify its Category A commitments and move forward with the ratification of the WTO Trade Facilitation Agreement. 
4.106.  Costa Rica did not submit advance questions to Barbados on this trade policy review. 
However, my delegation is following this exercise very closely, as it concerns a country with which we have close ties. In fact, in March 2004, our countries signed a free trade agreement, together 
with the other members of the Caribbean Comm unity (CARICOM), which entered into force 
between Costa Rica and Barbados in 2006. Since th en, although the total bilateral trade figures 
continue to be relatively low, having barely reached US$8 million in 2013
4, our trade has grown 
a t  a n  a v e r a g e  r a t e  o f  8 . 5 %  p e r  y e a r  a n d  w e  h o p e  t h a t  i t  w i l l  c o n t i n u e  t o  i n c r e a s e  i n  b o t h  
quantitative and qualitative terms. My delegation would therefore like to ask Barbados to provide 
details on the current status of and developments concerning the CARICOM Oils and Fats Agreement. We would particularly welcome information on whether Barbados is still enforcing 
the Agreement, the other CARICOM members enforcing it, and on its scope. 
4.107.  Lastly, I would like to wish Barbados a successful trade policy review. 
EL
 SALVADOR 
4.108.  The Secretariat report highlights the general openness of Barbados' trade regime and the 
fact that key activities such as tourism and financial services continue to be "a driving force in the social and economic development" of the count ry and are among the chief foreign exchange 
earners in the services sector. Moreover, we note that in order to overcome the challenges faced 
by these sectors, Barbados has adopted a series of development initiatives, which in turn has 
revitalized other areas such as manufacturing and agriculture, leading to the development of major construction projects, for example, a multi-purpose plant for the processing of sugarcane 
derivatives. 
4.109.  W e  a l s o  n o t e  t h a t  t h e  M e d i u m  T e r m  G r o w t h  and Development Strategy charts a clear 
direction for Barbados' economic growth and deve lopment priorities for the period 2013-2020, 
by promoting sustainable economic, human and soci al development with a particular emphasis on 
implementing the theme "Adjustmen t, Reform, Recovery and Sustaina bility". This will ensure the 
country's continued openness to trade and investment and will help it maintain the highest per capita incomes and human development indicators. 
4.110.  We acknowledge the efforts that Barbados has been making in administrative areas, for 
example, with the process of establishing the Nati onal Agricultural Health and Food Control Agency 
(NAHFCA), which according to the Government report, will address sanitary and phytosanitary 
issues, including the review of existing legislation to ensure coherence with international 
agreements and codes of practice. We also note that Barbados has adopted the Automated System for Customs Data (ASYCUDA++), and that it has started moving towards the adoption 
of ASYCUDA World, which will be fully installed in February 2015. This system, among others, 
will allow for import documents to be sent in electronic format in advance, and for clearance to be 
                                                                                                                                               
3 WT/TPR/S/308, para. 3.63. 
4 Bilateral trade (imports and expo rts) between Costa Rica and Barbad os. According to figures from the 
Ministry of Foreign Trade: http://www.comex.go.cr . WT/TPR/M/308 • Barbados 
 
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  carried out electronically. We commend Barbados on this progress and acknowledge its efforts 
to adopt a practical approach to the facilitation of international trade. 
4.111.  As regards measures affecting production and trade, especially incentives, we recognize 
the significant improvements that Barbados has been making in terms of innovation, in particular 
in establishing the Innovation Fund (IF), which facilitates investment in commercially viable 
innovative projects "in a wide range of sectors" such as: environmental and waste management; cultural activities; information technology; energy conservation; tourism product 
innovation/diversification; and non-traditional agriculture/agro-business. This prompted the 
Government of El Salvador a short time ago to formally issue the national intellectual property and innovation policy it had adopted. 
4.112.  In view of the above, our delegation would welcome further information on the Innovation 
Fund, in particular details concerning its scope and content. 
4.113.  At the bilateral level, we would like to highlight that in recent years, our exports to 
Barbados have increased significantly, with a rise  of around 264% in 2014 over 2013, according to 
the latest available figures. Trade between the two countries is quite complementary, as the main 
exports to Barbados are sugar, medicines, paper products, iron and steel containers, fruit juice and plastic furniture, while the main imports from Barbados are paper and paperboard labels, 
chemical products, containers and articles of asphalt, among others. 
4.114.  Furthermore, as a result of diplomatic efforts between our countries, we have a Visa 
Waiver Agreement which aims to promote increased trade, tourism and investment. 
4.115.  At the regional level, as a member of CARICOM, Barbados is actively involved in the 
negotiation of multilateral and regional trade agreements as a means of protecting its interests 
and enhancing its trade performance. In thes e agreements, Barbados seeks to maintain 
and improve market access with a view to fostering greater market penetration, maintaining 
and improving performance in the domestic ma rket and facilitating measures to address 
supply-side constraints, thereby boosting producti vity and competitiveness in both domestic and 
export markets. 
4.116.  In the WTO multilateral negotiations, Barbados, together with the Group of Small, 
Vulnerable Economies, takes an active part in promoting and advocating rules which take into account our concerns and enable our countries to achieve real and effective gains and integration in international trade. 
4.117.  My country has accordingly played a constructive role, together with Barbados, in the main 
negotiating areas of the Doha Development Agenda, such as agriculture, market access for non-agricultural products, services, intellectual property, trade and development and trade 
facilitation, and in regular committees and working groups, and initiatives such as Aid for Trade, 
in order to establish the work programme arising from the mandate received from our Ministers, as set out in paragraph 35 of the Doha Development Agenda. Barbados has also submitted 
a significant number of proposals that seek to stre ngthen the work carried out in this Organization, 
mainly in areas focusing on the developing and least developed countries, for example, within the 
framework of the Committee on Trade and Development. 
JAMAICA 
4.118.  Barbados is an important regional partner for Jamaica within the framework of the regional 
integration movement, the Caribbean Community, and the thrust to establish a CARICOM Single Market and Economy, as well as in the wider hemispheric and international contexts. 
4.119.  Jamaica and Barbados share a common history and a strong commitment to sustainable 
growth, development, progress and democracy in the Caribbean sub-region. 
4.120.  We are both small, vulnerable, island economies, facing common challenges, many of 
which were outlined in the national report submitted by Barbados for this review. Small vulnerable 
economies like Barbados are also severely constr icted by their narrow economic base and strong 
reliance on imports. These constraints serve to incr ease the vulnerability to external shocks. It is WT/TPR/M/308 • Barbados 
 
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  no coincidence, therefore, that a significant portio n of this report was devoted to the Government's 
response to the Global Economic and Financial Cris is that began in 2008. In addition, vulnerability 
to natural disasters have a significant impact on trade and macroeconomic performance, such shocks can have a magnified effect in small and less diversified economies. 
4.121.  It is against this background that Jamaica wishes to highlight several key elements in 
Barbados' national report for this trade policy revi ew which reflects a determined response to the 
economic challenges being faced: 
 The development of a Medium Term Growth an d Development Strategy to chart Barbadian 
economic priorities from 2013 to 2020 which reinforce Barbados' commitment to a sustainable development path including a noteworthy focus on the environment and 
alternative energy projects as listed on page 10 of the national report.  
 We note the Government's commitment to maintaining its high level of net international 
reserves, and  
 recognize recent incentives provided for traditional high-performing sectors such as tourism, 
expansion in air services, and creative diversification initiatives in other sectors such as 
agriculture and manufacturing undertaken with full cognizance of regional and multilateral commitments. 
 We recognize and welcome Barbados' conti nued commitment to the regional economic 
integration process, reflected in Barbados' ongoing active participation in the various organs of the Caribbean Community, as well as the various bilateral free trade agreements concluded with neighbouring countries. It is to be noted that several functional institutions 
of the Community, including the regional Office of Trade negotiations and CROSQ (the 
regional standards body) are located in Barbados. 
 We also take note of the significant increase in the national debt, which stood at 126.2% in 
2013, and the Barbados Government's response to this increase, which it is hoped will result 
in the targeted reduction in the debt-to-GDP ratio (to 6.6%) in the coming months. In this regard, we must draw attention to our shared concern that Global Policies take due account 
of the particular challenges of debt as they affect small vulnerable middle income 
economies. 
4.122.  Jamaica is pleased to note that despite the challenges faced over the period in review 
including the external shocks arising from th e high cost of energy, Barbados has been 
characteristically innovative in the measures it has taken or plans to take to mitigate the impact of 
the 2008 global economic and financial crisis and its ripple effects on the Barbadian economy. Through a combination of fiscal reforms and bold  debt management, Barbados has managed to 
stave off negative economic growth, and growth is predicted to increase slightly this year. 
4.123.  The relative stability experienced by Barbados in recent years is not only due to the timely 
adoption of Government reforms and policies; but to the resilience and cooperation of the 
Barbadian people. 
4.124.  In the context of a post-Bali agenda and the crafting of a DDA work programme, the 
preservation of special and differential treatment and flexibilities for SVEs is fundamental to their prospects for enhance trade and economic development, and a clear improvement in the quality of 
life for the populations of SVEs. With this in mind, Barbados, like Jamaica, continues to emphasise 
the importance of a rules-based multilateral trading system, including a fair and balanced WTO Dispute Settlement Mechanism which has the potent ial to represent, for developing countries, a 
levelling of the playing field in the vast area of international trade, particularly if the rules take into 
account the situation of SVEs like those in the Caribbean sub-region. 
4.125.  Jamaica congratulates Barbados for the steadfast and innovative management of its 
economy in the midst of adversity and for the progress it has achieved in regional and 
international trade. We wish the Delegation of Barbados a very successful third Trade Policy Review. WT/TPR/M/308 • Barbados 
 
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  HONDURAS 
4.126.  We are pleased to see that Barbados has liberal market access and establishment 
conditions and no specific restrictions on foreign investment, thereby offering a favourable business environment, and that it implements various incentives programmes aimed solely or 
partly at promoting exports. 
4.127.  We note that Barbados has made further efforts to encourage competitive markets through 
competition policy, consumer protection enforcemen t activities and utilities regulation, given that 
services are the backbone of its economy. To urism and related activities are the largest 
contributors to GDP. 
4.128.  Moreover, the telecommunications industry in Barbados has been fully liberalized and there 
is competition in all market segments, although domination of the fixed telephony market 
by a single provider still represents a challenge. 
4.129.  Our bilateral trade has, on average, steadily increased, with our imports amounting 
to US$29,607 and our exports to US$2,542,006 in 2013. The main export products include sugar, 
tobacco, bricks and wood, and the main import pr oducts include salt, machinery and photographic 
film. We confirm that these trade links are becoming increasingly strong. 
4.130.  Lastly, we once again express our appreciation for this renewed opportunity to exchange 
views and examine the trade policies and practices of Barbados. We wish the Barbadian authorities 
every success with this trade policy review exercise. 
URUGUAY 4.131.  In this brief statement, our country reiterates the importance of the WTO in a multilateral 
rules-based framework for the conduct of trade,  particularly for small economies that are 
vulnerable to price and supply fluctuations, high er fixed costs of production and marketing, 
and to natural disasters. 
4.132.  We would also like to underscore the active and constructive participation 
of Ambassador Marion Williams and the entire delega tion of Barbados in the WTO, an involvement 
that is especially geared towards putting forward the interests of island Member States and small, 
vulnerable economies. 
4.133.  Uruguay is deeply interested in encouraging and strengthening links between countries 
of the Caribbean and, with this in mind, our Mini ster of Foreign Affairs, Ambassador Luis Almagro, 
conducted a tour of various Caribbean countries in November 2014. 
4.134.  With regard to bilateral trade, Uruguay ha s a favourable trade balance with Barbados, 
to which it exports mainly frozen bovine meat, and also fish and pharmaceutical products. There has been a sustained increase in trade between the two countries in recent years, 
and Uruguay intends to take further steps in order to strengthen cooperative ties in fields of 
common interest and to explore new areas of work. 
4.135.  Lastly, I would like to reaffirm the interest we share with Barbados for the successful 
conclusion of the Doha Development Round and the strengthening of a multilateral trading system 
based on predictable, transparent and balanced rules. 
NIGERIA 4.136.  Nigeria is pleased to note that since its last Trade Policy Review in 2008, Barbados has 
maintained growth and development programmes, through the implementation of targeted policy 
measures, as outlined in Medium Term Growth and Development Strategy and the resourcefulness and dedication of a people whose ultimate goal is that of nation building.  
4.137.  Barbados has made considerable progress with respect to the adoption of trade-facilitation 
measures. Customs clearance can be carried out electronically and mechanisms for advanced 
ruling are in place, as is risk assessment, with merchandise channelled through four lanes WT/TPR/M/308 • Barbados 
 
- 26 - 
 
  according to risk; this includes a "blue" lane, for post-clearance assessment. Currently, only about 
10% of imports are subject to physical inspec tion. The main exception to the use of the 
transaction value relates to imports of used vehicles, for which a valuation method based on the depreciation of the vehicle is used. 
4.138.  Barbados has continued to actively advocate for the small and vulnerable economies in 
particular, to price and supply fluctuations, higher fixed costs of production and marketing, and to 
natural disasters. Barbados sees the WTO as providing multilateral rules based framework for the 
conduct of all trade. Barbados is a member of CARICOM and the bilateral trade agreements 
subscribed by CARICOM. In this context, Nigeria would like Barbados to share with us its overall 
RTA strategy, which appears to combine both bilateral and multilateral objectives. It would also be interesting to hear how Barbados reconciles possible conflicts or inconsistencies between its 
bilateral trade agenda and the multilateral trade agenda.  
4.139.  Bilateral relations between Nigeria and Barbados have been characterized by cooperation 
and trust between the leaders of our countries, and set to continue to grow through the desire of 
our two countries to forge ahead in addressing the important issues that would make the world a 
better place to live. The bilateral relations generally cover political, economic and socio-cultural spheres. We cherish our ties with Barbados and wo uld continue to do our best to consolidate these 
ties as well as the furtherance of relations in other spheres. Nigeria like Barbados share common 
belief on the intensification of south-south trade as a major vehicle of enhancing the integration of developing countries into the multilateral trading system. 
4.140.  As an important Member of the WTO, Barbad os has remained a staunch supporter of the 
multilateral trading system. In this context, we wish to acknowledge the constructive and 
proactive engagement of the delegation of Barbados in Geneva. We thank the delegation of Barbados for the prompt response to the written questions that have been raised by various 
Members. We wish the delegation of Barbados a very successful trade policy review. 
DOMINICA
 ON BEHALF  OF THE OECS 
4.141.  As both the Secretariat and the Government reports clearly indicate, over the last six years 
Barbados has experienced the ravages of a global economic recession, the effects of which, as the 
Government report says, sought to unravel many of the social and economic development programmes achieved by the country since its indepe ndence in 1966. The impact of this crisis on 
the Barbados economy was seen in a mostly flat overall growth with instances of negative growth 
over the period. The country's fiscal deficit increased and its national debt rose to 126% of GDP. 
4.142.  Of more notable importance is what the Government report points out which is that the 
crisis was particularly severe on a small vulnerable open economy which depends to a great 
degree on the economic stability of the developed world. Small vulnerable island developing States 
like Barbados cannot help but being highly open economies dependant to a very high degree on trade for growth and development. That, however,  makes these countries highly susceptible and 
vulnerable to external shocks including the changing fortunes of major trading partners, the price 
of key commodities and even the policy pronounc ements economic groupings such as the OECD. 
4.143.  We, in the OECS, and in the wider CARICOM, know and can certainly understand this all 
too well. 
4.144.  In response to the impact of the crisis on its economy, Barbados has had to respond with a 
range of structural adjustment and reform measures many of which have been very difficult to swallow for the peoples of that small island State. But as many economic research and studies 
have noted, one of the things that small States are known for is their resilience. And Barbados is 
demonstrating resilience in its response to the challenges it has faced. 
4.145.  Barbados has developed a Medium Term Growth and Development Strategy, the aim of 
which is to chart a clear direction for growth and sustainable development until 2020. We note the 
apt and commendable theme is "Adjustment, Refo rm, Recovery and Sustai nability" and addresses 
the universal goals of economic growth and development through productivity, efficiency, competitiveness and service excellence. It should  also be noted that Barbados remains committed WT/TPR/M/308 • Barbados 
 
- 27 - 
 
  to its rights and obligations in the WTO and in its regional integration arrangements such as 
CARICOM. 
4.146.  The fact is, however, that small States will continue to face persistent challenges both 
internal and external to their growth aspirations.  One challenge highlighted in the reports is the 
high national debt being faced and the stranglehold this can have on a small economy. This 
demonstrates the need for continued concessionary financing from IFIs despite the often misunderstood economic realities of middle to high income country status. 
4.147.  The OECS enjoys cordial trade relations deep regional trade cooperation with Barbados 
under the CARICOM rubric as a Customs Union, and with the 2006 CARICOM Single Market Economy framework, which despite setbacks po rtends significant benefits for the region. 
4.148.  Despite its capacity constraints and limitations, the WTO report notes that Barbados is an 
active player in the WTO. Like all small States, Barbados is a supporter and is committed to the 
WTO and the multilateral trading system. The WTO report also notes that Barbados maintains a generally liberal trade regime with few barriers to entry and has an open investment regime with 
few restrictions. The WTO report further notes th e progress that Barbados has made during the 
period under review in the area of trade faci litation, competition, and consumer protection. 
4.149.  Agriculture has been a constant contributor to GDP over the period under review. This 
notwithstanding, Barbados, like other small and larger developing economies, is seeking to ensure 
the viability of the agriculture sector and to reconcile that with food security concerns especially as an NFIDC. I am sure you will agree that the foregoing represents a challenge for small economies in promoting domestic productions and meeting livelihood concerns while operating within the 
constraints of this House. 
4.150.  Services continue to be the main driver of the Barbados economy, with tourism and 
financial services remaining vital. However, like the other sectors, services were not immune to 
the reach of the financial crisis, thus Barbados recorded a fall in tourism receipts and drop in 
visitor arrivals during the period under review. 
4.151.  Barbados' report highlights that internatio nal trade continues to be a high priority, 
particularly the completion of the DDA. As an active SVE, Barbados places significant importance 
on the Work Programme on Small Economies. Despite the many challenges, Barbados has remained committed to this process and its obligations attendant to WTO membership. 
4.152.  In conclusion, the OECS would like to applaud Barbados for its endeavours at overcoming 
its recent economic challenges and for fulfilling  its multilateral obligations in the WTO. We 
congratulate the delegation for their report and the responses provided to the questions 
submitted. And we renew to Barbados the support of all the OECS member States. WT/TPR/M/308 • Barbados 
 
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  5  REPLIES BY THE REPRESENTATIVE OF BARBADOS AND ADDITIONAL COMMENTS 
5.1.  Let me begin by expressing the sincere gratitud e of the Government and people of Barbados 
to you, Madam Chair; for the able way in which you have directed these proceedings and for your insightful comments on the performance of Barbados’ economy. 
5.2.  Special thanks are also extended to Her Excellency Tan Yee Woan, firstly for agreeing to be 
the discussant and secondly, for her thought-provoking comments as well. The delegation also thanks you the Members of this Body for your co mments, especially your wishes for a successful 
trade policy review and success in our economy. We have found the interventions to be extremely 
constructive.  
5.3.  My delegation is also appreciative of the accolades paid to Ambassador Her Excellency Marion 
Williams and the staff of the Mission here in Geneva, for the advocacy on issues of importance to 
small States. 
5.4.  As small open economies, there are very real impacts which we face. The volatility of oil 
prices which are only now on a downward trend; the crisis in global financial markets and soaring 
food prices are illustrative of such factors. Th e issue of graduation, and the different faces of 
climate change, are also cases in point. We thank you for recognizing that these realities exist and need to be accommodated in all negotiating processes.    
5.5.  I take the opportunity of this second intervention to reiterate a few points and to respond to 
some of the issues which were raised during the first session.     
5.6.  I will expand on our recovery and development strategies. 
5.7.  Several Members acknowledged the tremendous effort being made to implement the Medium 
Term Growth and Development Strategy and the Fiscal Consolidation and Economic Reform 
Program. These are multi-faceted and intended to ensure that key economic sectors contribute more significantly to the efforts to diversify the economy. Through this process, we are building 
better operational synergies and efficiencies in central government and statutory entities. 
5.8.  The importance of a number of the specific initiatives pursued by Government was cited. I 
will first address your queries on legislation in th e area of agriculture. The National Agricultural 
Health and Food Control Program is intended to enhance the performance of the Agricultural 
Health and Food Safety System in compliance with international standards and this we expect will enable Barbados to compete successfully on a global scale. 
5.9.  The three major components of this system are updating and enhancing of the legal and 
institutional framework; institutional strengthening of the public agencies; and upgrading and 
refurbishing of the agricultural laboratories. This work is ongoing. 
5.10.  Simultaneously, the region is working collectively to strengthen agricultural health and food 
safety and ensure the highest standards for trade are developed and enforced through the 
Caribbean Agricultural Health and Food Safety Agency (CAHFSA). 
5.11.  Barbados is well-advanced in its efforts to update and improve our public procurement 
practices and procedures in order to make them more efficient, transparent and accountable. The 
new system will assist in Barbados obtaining more competitive prices and reduce process time while ensuring the integrity of the system. We will continue to monitor the discussions in the WTO in this area. 
5.12.  In Barbados, investment and trade remain tr ansparent processes. The legal frameworks, 
including Barbados’ expansive treaty network, serve to guide and facilitate investors. 
5.13.  In addition, our tariffs have remained at a stable and predictable level over the last eight 
years. Barbados has a good track record in honouring its commitments at the WTO. These 
commitments include the reduction of bound rates after negotiating rounds have concluded. WT/TPR/M/308 • Barbados 
 
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  5.14.  A specific query was raised on the implementation of ASYCUDA World and the Electronic 
Single Window (ESW). We would wish to highlight that work is currently being undertaken to modernize the country's Customs and Excise Department. The Customs Modernization Project involves major legislative, organizational and technical upgrades to the Customs machinery and 
operating software in Barbados. The Government’s aim is to make these operations more efficient 
and effective as we seek to promote competition, strengthen our revenue collection capabilities, reduce congestion at the ports of entry, speed up legitimate trade and enhance the protection of 
our borders. 
5.15.  ASYCUDA World is part of a wider integrative network, which would provide the platform for 
a paperless, electronic exchange of trader info rmation among participants in the trade process. 
These improvements will also serve to reduce waiting time and encourage a more efficient 
business facilitation climate. 
5.16.  The Barbados Revenue Authority has already been established. It consolidates the functions 
of the Department of Inland Revenue, the Land Tax Department, the VAT and Excise Divisions of 
the Customs and Excise Department and the revenue collecting aspect of the Barbados Licensing 
Authority. 
5.17.  Barbados is in the process of reviewing its Intellectual Property Rights legislation. At this 
time, I take the opportunity to inform you that the current review entails an analysis of the 
following legislation: 
i. Copyright Act, as it relates to the Internet Treaties;  
ii. Patents Act, as it relates to the Budapest Treaty and the flexibilities under the TRIPS 
Agreement; 
iii. The Industrial Designs Act; and  
iv. The Geographical Indications Act. 
5.18.  At the regional level, Barbados is an active member of th e Caribbean Community 
(CARICOM) and the Caribbean Single Market and Economy (CSME). As a party to a common market, it is expected that this arrangement will confer a number of benefits to CARICOM 
countries in the course of trade. The matter of th e differentiated licensing procedures will require 
more time to provide a fulsome response. We commit to responding to this issue in a timely manner.  
5.19.  I take the opportunity today to inform you that Barbados has plans to enact legislation that 
allows for the full implementation of the WTO provisions on Antidumping and Subsidies and 
Countervailing Measures. Work is progressing at the regional level to develop legislation which also addresses these matters. On completion of this process, Barbados will introduce the legislation 
which responds to the requirements at the multilateral level as well as our regional obligations. 
The feasibility of establishing a dedicated Trade Compliance and Anti-Dumping Unit will be revisited by the Government at a later date.   
5.20.  Even though Barbados has the facility to conclu de trade agreements on an individual basis, 
we have traditionally negotiated trade arrangemen ts as CARICOM, the last completed negotiation 
being the Economic Partnership Agreement (EPA) which we undertook as part of CARIFORUM with the European Union.   
5.21.  Stakeholders in Barbados are working to ensure that we derive the maximum benefits from 
the Economic Partnership Agreement and the bilateral and unilateral arrangements to which we are a party. These trading arrangements have been brought into law and are fully implemented. 
5.22.  At the multilateral level, Barbados continues to be actively engaged in all negotiations in this 
august Body. The requirement to notify our Category A commitments as part of the Trade Facilitation Agreement and address export-contingen t incentives are receiving the fullest attention 
of the Government. Our country commits to submitting these and other outstanding notifications 
as soon as possible given our resource constraints.  WT/TPR/M/308 • Barbados 
 
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  5.23.  Our trade negotiations are informed by Worl d Trade Organization commitments. In some 
technical areas, these commitments are reaffirmed and reproduced in the text of the negotiated 
trade arrangements. We make concerted efforts to ensure that these arrangements are WTO-compatible. 
5.24.  Barbados’ Trade Policy has not been developed in a vacuum. It continues to evolve from a 
process of consultations which include the public sector, the private sector, the labour movement and civil society. 
5.25.  In our recently undertaken Foreign Policy Review, Barbados noted the rise of a number of 
economies. It is Barbados’ intention to continue to deepen our relationship with our traditional trading partners and to foster linkages and re lationships with these emerging economies. 
5.26.  Barbados hopes that with this presentation, we have been able to answer satisfactorily the 
majority of the questions posed to us. We commit to responding before the one month deadline to 
all unanswered written questions. 
5.27.  We take this opportunity to inform that Barbados will make a submission which will serve to 
update the information in the Secretariat’s report. 
5.28.  In closing, I wish to reaffirm Barbados’ commitment to the World Trade Organization and 
managed trade liberalization.   
5.29.  We are mindful that with the supporting comme nts which have been made by the Members, 
our efforts aimed at adjustment, reform, recovery and sustainability will yield success. 
5.30.  Madam Chair, Ladies and Gentlemen I thank you. 
DISCUSSANT 
5.31.  Thank you for the opportunity to make some brief remarks. 
5.32.  First, I would like to congratulate Senator the Honourable Maxine McClean, Ambassador 
Marion Williams and the delegation for their timely, high quality and comprehensive interaction 
with WTO Members throughout Barbados' third TPR process. 
5.33.  Members showed a high degree of interest an d engagement as evidenced by the number of 
delegations which took the floor.  
5.34.  I had earlier highlighted Barbados' open and ou tward looking economic policy, and its deep 
commitment to the multilateral trading system. I also identified the trade and trade-related 
changes, and outlined some potential areas for further discussion. I would like to build on my earlier statement by making some brief observations on the views provided by Members on the 
first day of the meeting. 
5.35.  Members generally noted the impact of the global economic and financial crisis on the 
economy of Barbados which severely affected its tourism sector and related activities which makes 
up half of its economic activities. Members co mmended the response by Barbados including the 
Medium-Term Growth and Development Strategy (MGDS) 2013–2020, the steps to counter the fiscal deficit problem, and the moves towards diversification of its economy. 
5.36.  Members also praised the open economy of Barbados where there are few barriers or 
restrictions to trade and investment. Its measures to increase competitiveness through its approach to competition policy were warmly received. 
5.37.  Appreciation was expressed for the positive and active role played by Barbados at the WTO 
in support of the multilateral trading system. Many also underscored its strong advocacy for the 
interests of the SVEs. In light of its helpful contributions in the conclusion of the Trade Facilitation Agreement, as well as its own national efforts in trade facilitation, a number of Members also 
encouraged the early acceptance of the TFA by Barbados with comprehensive Category A 
commitments.  WT/TPR/M/308 • Barbados 
 
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  5.38.  Members voiced some specific concerns, including in the following areas: its import licensing 
regime, the large differences between the applied and bound tariffs, the delays in WTO notification, the restrictions on exchange control and capital repatriation, the dominance by one provider in the land line networks, export support programmes, the need to review intellectual 
property legislation as well as the impact on imports due to the consolidation of SPS regulatory 
functions. I believe that Barbados will give serious consideration to the concerns raised, and address them in an appropriate manner, if it has not already done so.  
5.39.  What is clear to me as discussant is that Barbados has confronted the adversity caused by 
the global crisis, not by resorting to protec tionist measures, but by making the necessary 
structural changes to fulfil its objectives of economic, human and social development in a sustainable manner.  
5.40.  Finally I want to express my honour and privilege of having participated as discussant in this 
review and I wish Barbados every success in the future. 
EUROPEAN
 UNION 
5.41.  Let me express our sincere appreciation to the delegation of Barbados for the replies they 
have provided and for the presentations given on the first and second day of the meeting. 
5.42.  The EU notes that this third review of Barb ados has been helpful for better understanding 
the main development of Barbados' trade policy carried out in these last years and the challenges 
that Barbados is called to face in the future. 
5.43.  The EU would like to point out that we have a couple of follow-up questions that we have 
already submitted to the Secretariat. In particular, we reiterate our interest in receiving more 
information on the dual licensing regime, i.e. imports from other CARICOM partners. 
5.44.  Secondly, the EU notes that specific answers to a couple of IPR issues have remained 
unanswered. 
5.45.  Finally, we would be grateful to receive additional clarifications on the licensing regime 
applicable to accommodations and restaurants. 
5.46.  We have submitted these questions and wait for the replies in due course as already 
indicated. The EU would like to thank Barbados for this constructive participation in this exercise. WT/TPR/M/308 • Barbados 
 
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  6  CONCLUDING REMARKS BY THE CHAIRPERSON 
6.1.  The third Trade Policy Review of Barbados has provided an excellent opportunity to improve 
our understanding of its trade and investment policies. I would like to thank Senator the Honourable Maxine McClean, Minister of Foreig n Affairs and Foreign Trade; H.E. Mrs. Marion 
Vernese Williams, Ambassador and Permanent Representative of Barbados to the World Trade 
Organization, and the Barbados delegation, for their constructive engagement in this meeting and their strong commitment to this exercise. I would also like to thank H.E. Tan Yee Woan, 
Ambassador of Singapore to the WTO for her insi ghtful remarks as discussant. Barbados' written 
answers to over 90 advance written questions ha ve been well appreciated by Members and we 
look forward to answers to additional questions,  no later than one month after this meeting. 
6.2.  Members recognized the fact that Barbados has a narrow economic base, is highly reliant on 
imports and is susceptible to the vagaries of the environment. Members also noted that Barbados 
is highly dependent on tourism services, which cont ribute directly and indirectly to GDP in excess 
of 50%, and are the main generators of foreign exchange. All these factors made Barbados' 
economy particularly vulnerable to exogenous shocks. Reflecting this vulnerability, Barbados was 
severely affected by the global economic crisis, which resulted in a sharp decline in tourism receipts and weak GDP growth. 
6.3.  While commending Barbados on its resilience  and prudent macroeconomic policies in the 
aftermath of the global economic crisis, including the implementation of a fiscal consolidation programme, Members expressed concern regarding the precarious fiscal position and consequent rise in the debt ratio to 126% of GDP. Members acknowledged that Barbados had put in place a 
medium-term Growth and Development Strategy centred on Adjustment, Reform, Recovery and 
Stability in an effort to address and resolve some of the above issues. 
6.4.  Members praised Barbados' strong support for the multilateral trading system and the role it 
has played in the DDA negotiations. Its leadership and advocacy role for small island developing 
states and small vulnerable economies was particularly appreciated. Barbados' efforts towards liberalization at the regional and bilateral level were also noted, including the different agreements 
reached through its participation in CARICOM and the CARIFORUM-EU Economic Partnership 
Agreement (EPA), signed in October 2008, and ratified by Barbados in July 2014. 
6.5.  Barbados was commended for its open investme nt regime, and was invited by Members to 
lock in investment guarantees by implementing an Investment Code. Some Members also stated 
that more was needed in terms of ease of doing business to attract foreign investment. 
6.6.  Members also acknowledged Barbados' open economy and liberal trade regime. Barbados' 
considerable progress with respect to the adoption of trade facilitation measures was highlighted 
by several Members. In particular, they noted that Customs clearance could be done electronically, 
mechanisms for advanced ruling were in place,  and risk assessment was used. Members enquired 
as to when Barbados would ratify the Trade Facilitation Agreement and notify its commitments. We 
very much welcome the updates by Minister McClean earlier. 
6.7.  However, Members expressed concern regarding the dual licensing regime for imports. Some 
Members also expressed concern with respect to the maintenance of tariff peaks, and encouraged Barbados to narrow the gap between applied and bound tariff rates. Concerns were raised 
pertaining to the prevalence of high tariffs on certain fish and textile and clothing products. 
Members also noted the large number of tariff and fiscal concessions granted by Barbados to promote exports. Certain Members also sought clarity with regards to the licensing regime in the 
tourism services sector. 
6.8.  Barbados was commended for its competition policy legislation and enforcement, deemed to 
be of particular importance for a small market. Some Members noted the absence of AD and CV 
legislation and we heard from Minister McClean that Barbados is undertaking the necessary 
positive steps. Members noted that, during the period under review, Barbados had continued to 
implement a number of incentive programmes targeted solely or partly at the promotion of exports. Some of these programmes had been iden tified by Barbados as export subsidies and 
notified to the WTO. Barbados had also notified to the WTO the internal steps to be undertaken to 
bring these subsidies into conformity with th e SCM Agreement by 31 December 2015. Members WT/TPR/M/308 • Barbados 
 
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  requested information on the steps taken since the last notification to ensure the timely 
dismantlement of the measures.  
6.9.  Members welcomed Barbados's initiative to consolidate its SPS regulatory functions under a 
single government agency and to bring its plant and animal health and food safety systems in line 
with international standards.  
6.10.  Certain Members also noted that some of the issues identified during the previous TPR had 
not been fully addressed; they also urged Barbados to review its IPR legislation to make it 
compatible with WIPO treaties.  
6.11.  The participation of a sizeable number of delegations in this meeting and the large number 
of questions posed during this Trade Policy Review  indicate the clear importance of Barbados as a 
trading partner. I hope, therefore, that this Review will help Barbados to reinforce its participation 
in the multilateral trading system. In this respect, I would wish to emphasize that it is important 
for Barbados to continue to implement the legislative changes required to best harness the opportunities presented by the multilateral trad ing system and by the integration processes in 
which it participates. Given the constraints faced by Barbados, the collaboration and technical 
assistance of other WTO Members in this matter would be most helpful.  
6.12.  In closing, I would like to thank the delegation of Barbados, led by Minister McClean, 
Ambassador Williams, Ambassador Tan, the discussant,  all delegations, and the Secretariat for this 
very successful third review of the trade policie s of Barbados. We also thank the interpreters. 
6.13.  We wish the Barbados delegati on a safe trip back home. 
 
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