USAID and NABB to Lead Trade Scoping Mission to Barbados

Strengthening Trade Relations and Fostering Innovation

From December 18-20, the United States Agency for International Development (USAID) and the National Alliance for Black Business (NABB) will lead a trade scoping mission to Barbados as part of preparations for its U.S. – Caribbean Trade Mission 2025.

About the Initiative

This groundbreaking initiative aims to strengthen trade relations by connecting Black American businesses with Caribbean enterprises, fostering innovation, expanding markets, and driving sustainable economic growth across key sectors.

Background

This announcement follows the formal signing of a Memorandum of Understanding (MOU) between USAID and NABB on August 23, 2024, during the National Business League’s 124th National Black Business Conference co-hosted by NABB. The MOU marked a significant milestone in advancing equitable trade and shared prosperity across the Caribbean and beyond.

High-Level Delegation

The high-level delegation, including USAID officials and representatives of leading Black American businesses, philanthropic organizations, and Historically Black Colleges and Universities, will engage with Barbados’ government officials, business leaders from Barbados and the region, trade agencies, and educational institutions to explore opportunities for collaboration in renewable energy, agriculture, technology, and finance.

Quote from Dr. Ken L. Harris

“Together with USAID, we are building bridges for sustainable economic growth and shared prosperity across the U.S. and the Caribbean. This mission will create opportunities that empower entrepreneurs and transform economic relationships across the diaspora,” said Dr. Ken L. Harris, Co-founder of NABB and President/CEO of the National Business League.

About the Mission

The Barbados leg of this scoping mission will validate priority sectors, foster strategic partnerships, and establish connections that align U.S. and Caribbean interests. These efforts will lay the groundwork for the Spring 2025 Trade Mission, advancing inclusive economic development and building partnerships between the United States and the Caribbean.

Quote from Mervyn Farroe

“Barbados is central to the Eastern Caribbean’s trade ecosystem,” said USAID Eastern and Southern Caribbean Regional Representative Mervyn Farroe. “By combining business partnerships with investments in education and workforce development, we are creating a foundation for shared prosperity and resilience across the region.”

Conclusion
The USAID and NABB trade scoping mission to Barbados is a significant step towards building bridges for sustainable economic growth and shared prosperity across the U.S. and the Caribbean. The mission aims to create opportunities for Black American businesses and Caribbean enterprises to collaborate and drive growth in key sectors.

FAQs

What is the purpose of the trade scoping mission to Barbados?
The mission aims to strengthen trade relations by connecting Black American businesses with Caribbean enterprises, fostering innovation, expanding markets, and driving sustainable economic growth across key sectors.
When will the trade scoping mission take place?
The mission will take place from December 18-20, 2024.
What are the key sectors that will be explored during the mission?
The mission will explore opportunities for collaboration in renewable energy, agriculture, technology, and finance.
What is the ultimate goal of the mission?
The ultimate goal is to advance inclusive economic development and build partnerships between the United States and the Caribbean.