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The Business Barbados Fast Facts Guide
(“BIT”) with several important jurisdictions. These BITs provide benefits and protections for cross border investments including:
• Investment promotion and protection
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• Provision of compensation for losses
• The granting of most-favoured nation and national treatment provisions
• Protection from unfair expropriation and nationalisation of investment
• Procedures for the fair and equitable settlement of disputes arising
• Procedures for the timely repatriation of investment and returns
• Procedures for prompt transfer of funds
• Subrogation.
Trading Partners
Special trading arrangements have been entered into with other jurisdictions. These can be summarised as follows:
Caricom
Allows products manufactured in Barbados and other CARICOM member states to be exported among member countries free of customs duty, provided all qualifying conditions are met. In addition, CARICOM has already signed or is currently negotiating trade agreements with the Bahamas, Colombia, Costa Rica, Cuba, Dominican Republic, and Venezuela.
