Deepening the relationship between Barbados and Ghana is high on Export Barbados’ agenda, and once direct flights between Barbados and Ghana are facilitated, opportunities for collaboration will be accelerated at numerous levels.
On a recent visit to Ghana, CEO Mark Hill spoke of various plans to boost trade opportunities between the two countries, including a Memorandum of Understanding (MOU) between Export Barbados and the Ghana Union of Traders Association, signed during that trip. Over the next two years, the MOU is expected to realize USD 39 million in trade.
There is the potential for Barbados to import products like Shea Butter for use in pharmaceuticals, cosmetics and food directly from Ghana. Moreover, to attract more interest in Barbadian products, an authentic Barbados rum shop will be set up in Ghana, featuring local food, drink and music.
Along with products such as fats, oils and beverages, including rum, Barbadian services can also be exported, like our credit union model. With a credit union membership of 225,000 and just under USD 2 billion in assets, Barbados can assist Ghana with the growth of its credit unions. Ghana currently has USD 565 million in credit union assets.