On 24th May 2022, KEPSA CEO Ms. Carole Kariuki hosted H.E. William McDonald – Barbados High Commissioner to Kenya and Mr. Jovan Bernard Reid – Deputy Head of Mission, where they discussed trade and investment relations between the two countries.

In her remarks, Ms. Kariuki informed the High Commissioner the role that the Kenyan private sector is playing in ensuring that more trade avenues are put in place to ensure that businesses can venture into. She noted it would be great for the private sector in Kenya and in Barbados to partner in trade and investment, for there exist many opportunities for business, including financial services, ICT, tourism, motor vehicles, and the general trade in goods and services.

To create this linkage, it was agreed that KEPSA will mobilize the Kenya private sector players to hold a business forum virtually with the Barbados business community to dialogue on various issues, including the effects of ongoing Ukraine – Russia war, that has affected businesses globally.

On his part, H.E. McDonald applauded the role of KEPSA in promoting the Ease of Doing Business through policy and advocacy and the role KEPSA is playing in supporting SMEs to scale up adding that the Barbados economy is largely driven by SMEs.

The High Commissioner posed an idea that commercial links were of great importance as they will expound cargo transport between the two countries and discussions around alternative export/import routes, so as to cut costs on duties incurred. With a large number of tourists transiting through Barbados, it is a readily introductory marketplace that Kenyan businesses can tap into to act as a first sales point for their products. He went further to add that Barbados is a very low-tax environment for offshore corporations. In this regard, it has stimulated the Island’s economy.

Barbados is well known for its tourism industry; with specialized tourist products, gorgeous beaches, and its world-class rum and rich culture – all these appeal to most tourists and Kenya could be a key supplier of tourist products (food, horticulture, artefacts, etc.) into this beautiful island nation.

Going forward, the two leaders agreed that:

• KEPSA and the Barbados High Commission will continue working together and share ideas that will stimulate the growth of both economies and areas that each country can tap into to mutually benefit from the various opportunities

• Champion the growth of industries to enhance job creation within the tourism sector, textiles, horticulture, financial technology (FinTech) and environmental sustainability.

• The private sector to work with both the Central and County governments to create better network connectivity through improving infrastructure and deregulation of limiting policies.

It was agreed that KEPSA will organize a Barbados – Kenya Trade meeting in the month of June, for starters, an exploratory virtual meeting between the leadership of KEPSA, the High Commission, and Barbados business leaders.