A high court judge, almost exclusively dedicated to adjudicating a major back log of matters related to the international business and financial services sector, has been proposed by the Cabinet minister who is responsible for that industry.
Addressing the monthly luncheon of the Barbados International Business Association at Hilton Barbados Resort this afternoon, Donville Inniss said he would soon be making the proposal to the relevant authorities.
Inniss condemned what he termed the tardiness in the judicial system, adding that the state of the judiciary was not good for business in Barbados. He suggested this should also be tied to an alternative dispute resolution system.
Inniss, who is also responsible for industry, commerce and small business development, said his ministry, in collaboration with other stakeholders, had started the process of exploring the many opportunities which the global environment presented.
“It is our concerted view that these can be found in areas such as the establishment of Barbados as an international arbitration and ADR centre, expansion of opportunities in the Canadian market in untapped sectors, development of this island as a wealth management centre and exploiting the Latin American, Chinese, African, South American and Eastern European markets,” he asserted.
Inniss, a former director of BIBA, said Barbados was witnessing increased pressure from traditional markets of its international business sector.
“There are indeed very serious challenges, and the Government is committed to being proactive and very responsive to these challenges,” he said.
“This sector is too critical for our economic survival for anyone of us to roll over and play dead, when external challenges loom on the horizon. To that extent, we shall shortly be sending a delegation to Canada for high level discussions on Barbados-Canada relations.” (EJ)†††