Search

4.8. As Barbados continues its journey as a Republic, the Government is committed to securing an equitable and fair future for all, where innovation and embracing technology will remain critical planks. A stronger focus on continued reforms and digitization transformation currently in train will be pursued. Barbados intends to leverage technology to transform Barbados into a Smart Nation and a full-fledged innovative economy. The protection of the environment is important to achieving growth.

4.9. Barbados continues to prepare for a post-COVID future. This includes the building of strategic relationships with likeminded persons, organizations and countries. The Government will continue to craft new and relevant strategies for development, to protect our environment and build resilience so that no matter the nature of the challenges confronting us, we shall ensure a fair share for all of our citizens.

4. (...) A 12 month COVID-19 relief jobs programme was also rolled out, while targeted cash transfers were extended to small businesses and vendors affected by the second lockdown in February 2021. To support tourism, the authorities created the Barbados Employment and Sustainable Transformation (BEST) Programme in October 2020, focused mainly on the re-engagement of workers in the sector.

22. Import prohibitions and licences are applied for monitoring, security, health, and environmental purposes, as well as for the protection of public morals. (...)

29. (...) In 2019, the Barbados National Energy Policy 2019–2030, which sets out a target for reaching 100% renewable energy and carbon neutrality by 2030, was adopted. To this end, the Government provides incentives: in FY2020/21, it granted independent power producers using renewable energy a special premium on top of the feed-in tariff. Also, with the aim of encouraging a reduction in the use of fossil fuels for automobiles, the 2022 Budget provides fiscal incentives for the purchase of electric vehicles and hybrid vehicles. Barbados has a small oil reserve onshore. Though there are apparently no restrictions or exclusive rights reserved for any operator in the market, the state owned Barbados National Oil Company Limited is in practice the sole importer of refined oil products such as gasoline and diesel.

1.5. (...) To support tourism, the authorities created the Barbados Employment and Sustainable Transformation (BEST) Plan. (...)

1.39. (...) June 2018, the authorities launched their most ambitious fiscal reform programme to date, the The Barbados Economic Recovery and Transformation (BERT) Plan, to be done in three phases. The BERT Plan was implemented through a revised FY2018/19 budget and seeks fiscal and debt sustainability as necessary conditions for macroeconomic stability and economic growth. (...) The growth strategy of the BERT Plan rests on the following pillars: (...) (iv) diversifying the economy into new areas such as renewable energy (...)

2.10. The Medium-term Growth and Development Strategy (MGDS) 2013-2020 recognizes the need to sustain private-sector and investment-led productivity and export-driven growth. The Strategy states four goals, namely: (...) (iv) enhancing energy and environmental sustainability.

2.12. Barbados has set the objective to achieve a fossil fuel-free economy and to strongly reduce greenhouse gas emissions across by 2030. Ultimately, the goal is to be the first 100% green and fossil fuel free island-state in the world.

2.35. The Economic Partnership Agreement (EPA) between the Caribbean Forum (CARIFORUM) and the European Union was signed in Barbados in October 2008 and ratified on 27 July 2015. (...) The EPA covers the areas of: (...) (iii) trade-related issues (competition policy, environment, transparency in government procurement, innovation and intellectual property, social aspects, and personal data protection) (...)