Barbados, Curaçao small biz groups sign SME cooperation deal

The small business associations of Barbados and Curaçao have agreed to deepen regional economic integration with the signing of a Memorandum of Understanding (MOU) aimed at boosting the development of small and medium enterprises (SMEs) in both countries.

Both associations have pledged to develop a joint action plan on business networking, training programmes, trade missions, and the sharing of business intelligence. 

The agreement, formalised in April, was signed by the Small Business Association of Barbados (SBA) and the Small Business Association of Curaçao (ADECK) during ADECK’s Networking Luncheon, held under the theme The Urgency of Now – Development Imperatives of a New Global World Order. The event featured Dr Lynette Holder, CEO of the SBA, as the keynote speaker.

The partnership is expected to generate new opportunities for business networking, capacity building, trade facilitation, and knowledge sharing between the Barbadian and Curaçaoan business communities. Gabriel Magdalena, president of ADECK, described the agreement as “a significant step in strengthening Caribbean regional integration, particularly for our SMEs who are the backbone of our economies.”

Holder underscored the importance of timely collaboration to address current global economic challenges. 

“The time for action is now. This partnership opens new doors for entrepreneurs in both Barbados and Curaçao to innovate, connect, and thrive,” she said.

She added that the SBA is committed to helping its members explore new markets in a “strategic and systematic way” as part of its response to the emerging global order. 

Holder also revealed that the partnership with the Dutch Caribbean island forms part of the SBA’s export strategy for the next five years, with further regional initiatives to be announced in the coming months. “Other regional initiatives will be unveiled in the ensuing months,” the SBA CEO confirmed.