USAID and National Alliance for Black Business (NABB) to explore economic partnerships, workforce development in Barbados

From December 18 to 20, 2024, the United States Agency for International Development (USAID) and the National Alliance for Black Business (NABB) will spearhead a trade scoping mission to Barbados. This mission is a preparatory step toward the upcoming U.S.-Caribbean Trade Mission scheduled for 2025. The initiative seeks to fortify trade relations by facilitating connections between Black American businesses and Caribbean enterprises, with the overarching goals of fostering innovation, expanding markets, and promoting sustainable economic growth across vital sectors.

This announcement follows the signing of a Memorandum of Understanding (MOU) between USAID and NABB, which took place on August 23, 2024. The MOU was signed during the National Business League’s 124th National Black Business Conference, co-hosted by NABB. It signifies a notable advancement in efforts to promote equitable trade and shared prosperity within the Caribbean and beyond.

A high-level delegation comprised of USAID officials, leading Black American business representatives, philanthropic organizations, and members of Historically Black Colleges and Universities (HBCUs) will meet with government officials, regional business leaders, trade agencies, and educational institutions in Barbados. Their discussions will revolve around potential collaborations related to renewable energy, agriculture, technology, and finance.

Dr. Ken L. Harris, Co-founder of NABB and President/CEO of the National Business League, remarked, “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.”

The engagement in Barbados aims to validate priority sectors, foster strategic partnerships, and create connections that align U.S. and Caribbean interests. These initiatives are intended to set the stage for the Trade Mission in Spring 2025, thereby advancing inclusive economic development and establishing partnerships between the United States and the Caribbean.

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