BCCI 2020 Annual Report wo Financials

Annual Report 2020

2020

Annual Report Barbados Chamber of Commerce & Industry 1

TABLE OF CONTENTS Mission Statement and Winning Aspiration

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Annual General Meeting & Notice of Agenda

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President’s Report 5 Executive Director’s Report 11 Highlights 2020 17 Memories 23 Corporate Sponsors and Partners 27 Report of the Council 28 Committees of the BCCI 2020-2021 29 • Bridgetown Revitalisation/Smart Cities Committee 29 • Customs and Trade Facilitation Committee 31 • Digital Societies Committee 32 • Disaster Risk Reduction Committee 34 • Green Committee 35 • Legal Affairs Committee 37 • Marketing and Communications Committee 39 • Retail and Distribution Committee 39 External Boards & Committees 2020-2021

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The Council 2020-2021 44 The BCCI Secretariat 46 Duty Free Report 2020 47 New Members 51 Membership 2020 52 Auditor’s Report and Financial Statements

Annual Report 2020

MISSION STATEMENT The Chamber of Commerce and Industry is the trusted voice of the business community in Barbados and we will seek to influence, through advocacy the existing social, economic and business environments in order to create sustainable economic progress for all Barbadians.

our winning aspiration To be the effective and trusted advocate and gateway for business across all sectors and key facilitator for driving innovation and active engagement within the business community.

Founded 1825 Incorporated 1868 Incorporated by BCCI Act 1983 T: (246) 434-4750 | F: (246) 228-2907 P.O. Box 109B, 2 Braemar Court Deighton Road, St. Michael, BB14017, Barbados W.I. E: bcci@barbadoschamber.com www.barbadoschamberofcommerce.com

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The Barbados Chamber of Commerce and Industry

ANNUAL GENERAL MEETING NOTICE & AGENDA Notice is hereby given of the 195th Annual General Meeting of the Barbados Chamber of Commerce and Industry (BCCI) to be held virtually (via Microsoft Teams) on Monday, May 31st, 2021 commencing at 2.00 p.m.

Agenda 1. Members Consent for the 195th Annual General Meeting to be held as a Virtual Meeting 2. Minutes of the Annual General Meeting held on Tuesday, June 30th, 2020 3. Matters Arising from the Minutes 4. President’s Report 5. Receive the Annual Report with Audited Statements for the year ended December 31, 2020 6. Election of the Council for the year 2021-2022

a. President

b. Senior Vice President

c. Vice President - Finance

d. Vice President

e. Twelve (12) other members to serve on Council 7. Election of Auditors 8. Resolutions of which notice has been given: 8.1. Amendment of the Rules relating to the Nominations Committee 8.2. Amendment to Rule 2 to specify Construction as a sector to be represented on the Council 9. General Business

Misha Lobban Clarke Executive Director

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Annual Report 2020

PRESIDENT’S REPORT Trisha Tannis It has been an honour serving two consecutive terms as President of the Barbados Chamber of Commerce & Industry (BCCI). This last year truly embodies the importance of flexibility, resilience, and perseverance. To quote, author Salvatore R. Maddi, “resilience or hardiness is the ability to adapt to new circumstances when life presents the unpredictable.” When I assumed the role in 2019, none of us could have predicted the unparalleled, world-wide impact from the global pandemic which began in December 2019, with the discovery of the world’s first cases of the COVID-19 virus in China.

As with the rest of the world, 2020 proved to be a very difficult year for Barbados. The discovery of the country’s first two COVID-19 cases on March 17, 2020 influenced a chain of reactions that severely impacted local businesses and led to much uncertainty. The island experienced historic social and economic devastation, with almost every aspect of our lives upended by the necessary, hard-line measures to manage COVID-19 and save lives.

The year started well for the Chamber as we hosted early in the year, a very successful business luncheon headlined by the Prime Minister

of Barbados, the Honourable Mia Mottley and Economic Advisor to the Government, Dr. Kevin Greenidge. The latter gave an update on the Barbados Economic Recovery and Transformation (BERT) programme; the Government’s IMF driven plan to build the Country’s economy, by decreasing the debt to GDP ratio and strengthening the balance of payments. At that time, there was optimism at the progress made in achieving many of the aggressive targets set under BERT and the possible resulting opportunities for business. Over the course of a month, however, the pandemic significantly reduced many of the gains realised and completely disrupted the country’s economic reform efforts.

The tourism industry, Barbados’ chief economic driver, was one of the early casualties as global travel was extensively curtailed to help reduce the spread of the coronavirus, leading to extensive business losses. To quote from the World Bank’s 2020 Economic Report on Barbados, “The country experienced significant drops in tourism arrivals, during the first three quarters of 2020 which severely affected tourism, retail, and business activities. With the near full travel closure and quarantine measures, the local economy was estimated to have contracted 17.3% by 5

The Barbados Chamber of Commerce and Industry

the end of the year.” It is estimated that Barbados lost approximately $2 billion in economic activity and the country was forced to increase its debt burden, to cushion the impact of the COVID-19 pandemic. The reduced economic activity has also led to significant restructuring and downsizing in the private sector.

Internal Developments The Chamber was not immune to the economic disruptions and changing business climate, and as such a decision was made to permanently close the longstanding operations of the BCCI’s Duty-Free Facility at the Grantley Adams International Airport. The significantly reduced visitor arrivals to Barbados because of the pandemic, led to a steep fall in overall duty-free sales, which severely impacted the revenue from this Chamber function that had been operating at a loss for some time. This coupled with the proposed liberalization of the duty-free sector planned by Government and the establishment of new protocols for dutyfree sales in Barbados, necessitated the planned shutdown of the Duty-Free Facility to protect the Chamber’s overall financial position.

In 2020, the BCCI conducted an indepth strategic planning exercise, led by professional services firm Ernst & Young (EY), which engaged all key BCCI stakeholders including the Executive Committee, Council, the membership and secretariat staff and considered the current pandemic led business

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environment. Coming out of this critical process, the BCCI now has a relevant, and transformative strategic plan built on nine key pillars, which will guide the Chamber’s operations from 2021 to 2024. The first phase of the strategic plan focuses on increasing advocacy as well as enhancing operational excellence and innovation.

A key component of this stage includes the restructuring of the secretariat to strengthen internal capabilities and competencies in line with the strategic direction. The second phase is centred on improving membership engagement, increasing value-added member services, as well as facilitating more member connections and collaboration. The final phase involves creating a better business ecosystem, with specific attention on membership training, trade and business facilitation along with wide-scale digital transformation.

BCCI Pandemic Response As Barbados grappled with extended lockdowns, business closures, restricted openings, high unemployment levels and frequently adjusted emergency protocols and directives, much of the Chamber’s efforts in the year centred on helping the membership face and address the unexpected challenges through new strategies and increased representation.

In collaboration with the Government and the Social Partners, countless hours were spent navigating the best course of action to ensure our survival and build a solid path to resilience, and recovery for businesses and Barbados on a whole.

Annual Report 2020

March 2020 was an exceptionally busy month for the Chamber, with many stakeholder consultations, as Barbados prepared for the arrival of COVID-19. The Executive Director and I represented the Chamber at the Prime Minister’s meeting on COVID-19, National Preparedness held at the Hilton Hotel on March 10, 2020. Just four days later, on March 14, representation was made through the Barbados Private Sector Association (BPSA) to the Government of Barbados, to seek an ease with respect to cash flow problems being experienced by the business community, because of the crisis.

A list of measures to assist the business sector, especially the SMEs, was tabled and discussed with the Hon. Dwight Sutherland, Minister of Small Business, Entrepreneurship and Commerce (MSBEC) at a meeting attended by the BCCI Executive Director, BPSA President and myself at his office and proposals were subsequently submitted to the Prime Minister for consideration. Among the measures agreed to by the Government were the payment of all outstanding VAT refunds and personal income tax refunds.

On the morning of March 16, the Executive Director and I were joined by Senior Vice President, Anthony Branker; Vice President, James Clarke; Chair of the BCCI Retail and Distribution Committee, Andrew Bynoe, Chair of the BCCI Bridgetown Revitalisation Committee, Eddy Abed; Council members, as well as members of the Retailers and Distributors sector, at another meeting with the Minister of MSBEC and other representatives from the Department of Commerce to address the issue of panic buying and

price gouging. Later that day an open discussion was held with stakeholders from the duty-free sector. At that time, members were given an opportunity to share precautionary measures being taken by their organisations and decided on steps the duty-free sector should take, in response to the sudden disruption to the tourism industry. I also advised attendees that the Prime Minister was open to receiving proposals from the private sector regarding measures that the Government should consider implementing to best offer support and relief to the duty-free sector.

On March 18th, we met with the Ministers of MSBEC; Finance, Economic Affairs and Investment, as well as the Economic Advisor to the Barbados Government, the Comptroller of Customs and the Retailers and Distributors group. This was to discuss the importance of maintaining prices of certain goods during the COVID health emergency. At this session we agreed on the list of items which would make up the COVID basket of goods, to assist the most vulnerable in society. Distributors and retailers present also agreed to keep prices for the selected goods at the regular costing where possible and noted the offer

by Government to assist, where the base cost of the goods made it impossible to retain existing pricing. This forum was followed by another meeting of Retailers on March 22 to discuss COVID-19 and its impact on the business sector, review the BCCI Guidance document on our COVID-19 response, produced by the BCCI Executive Director, as well as to develop responsive and proactive strategies. On March 24, the Chamber convened a meeting with the Retailers and the then COVID-19

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The Barbados Chamber of Commerce and Industry

Communications Czar, Richard Carter to discuss procedures and protocols for Stage 3 of the National Response so that the sector could adequately prepare for a partial or full national shutdown.

In April, during the first islandwide lockdown, the BCCI worked with the Barbados Government and the Barbados Private sector Organisation (BPSA) to introduce and assess the novel alphabet shopping system, for supermarkets, fish markets, hardware stores and banks as part of the Emergency Management (COVID-19) Curfew Directives. During this time, ongoing consultations were held with key public sector and private sector stakeholders.

The Chamber fielded frequent queries from the private sector, seeking clarity on essential versus non-essential businesses and workers. As a result, the BCCI issued an advisory notice which highlighted the definition of essential services under the Emergency Management (COVID-19) Order.

The notice also provided the list of nonessential services that were exempted under the Emergency Order to operate with specified hours, as well as reminded shoppers of the shopping and banking schedule for essential workers.

at the highest levels to adequately represent the changing needs of members and lobby for the reductions in various input costs including demurrage fees, utilities, and commercial rent to help bolster businesses.

During the first two quarters, several discussions were held with shipping line agents, Veconinter and the Florida Ship Owners Association, as well as the Barbados Port Inc, and the Government of Barbados to negotiate rising demurrage costs for local businesses. As a result, we were able to secure a full waiver of demurrage during the lock-down from the Florida Ships Owners Association, and a demurrage discount programme which gave BCCI members access to discounts of up to 35% on related fees from the global deep sea shipping lines. Meetings were also held with the Barbados Light and Power in March, following which, the BCCI connected with members to assess businesses’ ability to pay electricity bills during the pandemic and to share contact information for relevant BLPC personnel to efficiently facilitate bill related requests or queries.

Also key, was the introduction of virtual forums by the BCCI Secretariat which allowed the membership and the wider Through my office, representation was also private sector to give critical input into made to the Attorney General on behalf of proposed covid emergency directives businesses which led to the introduction of and planned changes to public sector a temporary arrangement for companies to processes. process payroll, statutory obligations and other payables during the period of April Business Facilitation 20- 22 2020.

High on my agenda and that of Chamber has been the timely delivery of reliable and useful information and continual advocacy 8

and Advocacy

On February 18, 2020, the Executive Director and myself, hosted

Annual Report 2020

representatives of the Commonwealth Parliamentary Association at the BCCI Secretariat. The visiting team sought to engage the BCCI on its perspective of trade between the UK and Barbados, as well as ascertain opportunities for trade post-Brexit and discuss existing barriers.

gained, however, concern was also raised about the significant level of sanctions included in the draft Bill and the one-size fits all approach to application of penalties.

The Chamber also participated in the United Nations’ Barbados and the OECS: Dialogue(s) on the Private Sector contribution to the 2030 Agenda and the Sustainable Development Goals (SDG) held at the UN Marine House on March 3. Ahead of the 15th Quadrennial United Nations Conference on Trade and Development (UNCTAD), the forum sought to raise awareness and build momentum to engage the private sector in the UN’s integrated and coordinated support to the SDGs in Barbados and the Eastern Caribbean; establish a coalition/network of committed champions to support SDG implementation; articulate entry points for the alignment of business practice and models with the UN Global Compact Ten Principles and SDGs, as well as to develop a work plan for fostering public-private partnerships in the Caribbean around SDG implementation.

Through the Ministry of Energy, Small Business and Entrepreneurship the BCCI’s Executive Director and I attended a meeting with the Georgetown Chamber of Commerce (GCCI). The objective of the sessions was to discuss areas of mutual interest for the promotion of trade and investment between Guyana and Barbados and to explore the feasibility of the Georgetown Chamber having a liaison housed in the Barbados Chamber. Some of the agreed actions arising from the meeting included identifying sensitive sectors and industries with barriers to trade for each country and the need to prepare a sector analysis with the list of products and services that are available to be traded between Guyana and Barbados.

The GCCI also agreed to explore the possibility of tripartite agreement with the Suriname Chamber of Commerce.

Both Chambers agreed to a proposed trade facilitation expo in 2021 as an adjunct event to capitalize on the UNCTAD Conference.

In August, the Chamber facilitated a series of consultations with the Customs and Excise Department (CED) to allow the private sector to provide feedback on the draft Customs Bill, which would have a significant impact on business operations. At the sessions, I expressed appreciation on behalf of the BCCI for the increased efficiency of trade facilitation, to be

The BPSA’s Annual General Meeting was held on October 9th, 2020 and was attended by the BCCI Executive Director and I. At this meeting, the Prime Minister of Barbados was invited to engage the private sector on matters relating to the economy and labour in light of the impact of the COVID-19 pandemic as well as the implications of the EU blacklisting for Barbados.

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The Barbados Chamber of Commerce and Industry

In the final quarter of 2020, the BCCI was advised of a proposal to introduce a minimum wage for Barbados. At the meeting of the Social Partnership held on November 24, 2020, I made a submission on behalf of the Chamber advising that relevant factors such as major inputs, protectionist policies, commercial rents, fuel adjustments and current wages needed to be adequately examined prior to the introduction of a proposed price protocol mechanism. The BCCI subsequently collaborated with the Barbados Employers Confederation and the Barbados Private Sector Association (BPSA) to facilitate a BEC led survey on the minimum wage to support discussions with the Barbados Government regarding the introduction of a new minimum wage and related legislation.

Digital Transformation With the closure of physical spaces and limitation of face-to-face interactions, businesses in almost every sector were forced to swiftly reshape and reengineer their operations. Information technology became one of the most vital tools both in the private and public sector with a significant rise in the introduction of creative digital platforms to facilitate business activity. The much-needed, swift expansion of the local digital space further propelled the Chamber’s focus on Digital transformation. Like others, the Chamber creatively pivoted and transitioned to online stakeholder meetings, along with digital events to facilitate member networking and knowledge sharing and also to generate some revenue to

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support the Chamber’s operations. For the first time in the organisation’s history, the 194th edition of the Annual General Meeting, which I chaired, was also held virtually in keeping with social distancing requirements due to the COVID-19 pandemic.

To assess ICT readiness among members, a survey was conducted in the first half of the year, and two quality thought leadership digital events were added to the Chamber’s calendar of activities; an e-commerce webinar which focused on Practical Considerations for E-commerce in the New Normal, and the November digital conference entitled, Executive Mindset: Evolved Thinking for Business Leaders.

As my two-year term as President comes to a close, I want to express my sincerest appreciation to the BCCI’s Executive Director, Misha Lobban-Clarke and Research Officer, Shanice Haynes along with the rest of the secretariat staff for their professionalism and unwavering support, especially given the challenges posed by COVID-19. Gratitude is also extended to the Executive Committee and wider Council for their leadership, advice and support. To the incoming President, Executive Committee, Council and Standing Committee members, I wish the very best and I leave confident in the fact that the affairs of the BCCI remain in excellent hands. I expect even greater achievements in the near future, as the strategic plan is activated and resounds to the sustainable growth and development of the Barbados Chamber.

Trisha Tannis CPA, CGA, FCA, ACIS

President

Annual Report 2020

EXECUTIVE DIRECTOR’S REPORT Misha Lobban-Clarke

INTRODUCTION COVID-19 Pandemic & the Impact on Businesses 2020 was certainly an unprecedented year for businesses not only in Barbados but around the world. No one could have predicted just how life-changing the COVID-19 pandemic would be for us all. A Central Bank report revealed that the pandemic triggered record global recessionary conditions and significantly depressed productive activity in Barbados for 2020, especially in the tourism and tourism-related sectors.

The implementation of a national shutdown and other emergency measures by the Government of Barbados in response to the pandemic, impacted businesses hard across all productive sectors. Many businesses were forced to reduce costs, including wage rates and work hours in order to retain employment levels. Amidst the fallout, other businesses had to effect temporary layoffs and even severance of employees. Locally, businesses have had to retool, re-invent strategies and, in some cases, restructure

their operations to remain viable and to ensure business continuity during the ongoing global crisis.

The Chamber’s Response Despite the significant challenges that we faced as a country, we are proud about what we have been able to accomplish as a Chamber during the year. As the trusted voice of the business community with a mandate to facilitate local businesses to grow, the BCCI was responsive in helping the sector survive through the crisis. In the face of the challenges, our priorities from very early in the year focused on lobbying, advocacy, membership and engagement, all aimed at building resiliency and creating new paths to recovery for businesses across all sectors.

As the entire country was forced into crisis management mode, we quickly mobilized and worked diligently to ensure members remained informed, had access to useful and timely resources and most importantly, contributed to the critical macro-economic decisions that impacted business operations. The Chamber was equally proactive in lobbying and engaging the Government on behalf of members of

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The Barbados Chamber of Commerce and Industry

the business sector prior to and during the period of the national shutdown. Arising from our proactive actions, we witnessed an increase in the level of interest from entities regarding joining the membership of the Chamber during the year – a positive outcome for the BCCI.

KEY INITIATIVES & ACHIEVEMENTS

The BCCI Secretariat also formulated a plan to support members with their business continuity and resilience efforts.

This included providing businesses with guidance and resources as well as hosting online sessions (webinars) to sensitize businesses about opportunities available for innovatively integrating digital technologies as a strategy for creating and delivering new products and services.

Member Support

COVID-19 Impact Survey

The Chamber was actively involved in representing the membership on critical pandemic-related issues as well as developing and expanding support mechanisms to help members. Much attention was placed by the Secretariat on effective communication with members and coordinating consultation sessions with subject matter experts and leading Governmental representatives to keep members informed and to support effective decision-making during the crisis.

The Chamber conducted a COVID-19 Impact Survey to assess the impact of the pandemic on businesses within its membership and the wider sector.

The survey also sought to assess the readiness of companies’ ICT capabilities to address operational requirements arising from the COVID-19 pandemic.

The survey underscored the challenges being experienced by businesses in terms of declining revenues and unsustainable levels of overhead costs. This had a direct impact on their ability to sustain the business modalities and structures that existed pre-pandemic. The survey findings provided a platform for the BCCI to push the membership and wider private sector to increase the utilization of technology to promote diversification and to enhance the delivery of products and services. The BCCI Secretariat, with the support of the Digital Societies Committee, continues to work towards this objective.

Ongoing communication was very critical to effectively engaging members and stakeholders during the crisis.

As such, the Chamber implemented a multifaceted crisis communication action plan which included utilising direct email communication, the BCCI website, and social media platforms to keep membership regularly informed and updated. Collaborative digital groups were also established, such as the WhatsApp group chat for the Retailers and Distributors and another for Customs and Trade Facilitation/Port to support real time responses and discussion on critical issues.

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Strategic Plan One of the key initiatives of the Chamber during the year was the completion of a new Strategic Plan. Following a

Annual Report 2020

wide-ranging review of the Chamber’s operations, we completed a comprehensive strategic planning project led by Ernst & Young (Barbados). This was a broadbased and inclusive process involving the input of the BCCI Executive and Council, Committee Chairs, the Secretariat, members, and other key stakeholders within the private sector.

We pleased that we now have a new 3-year strategic plan to guide the current and future direction of the Barbados Chamber.

This new roadmap approved in November 2020, will inform the BCCI’s evolving role as the leading advocate for businesses in Barbados and will ensure that the Chamber is well-positioned to anticipate and respond to the changing needs of our membership and the wider business community.

Organizational Restructuring Key to the finalization of the new strategic plan was the reorganization of the Secretariat and the redefinition of job descriptions with clear roles and responsibilities aligned with the company’s strategic goals. This will ensure that the Chamber has access to the best resources and skillsets to successfully achieve the agreed strategic initiatives.

During the year, the BCCI formally said farewell to its two long-standing employees - former Business Development Officer, Carol Charles and former Senior Accounting Officer, Eudene Wright, who retired after serving the BCCI for 40 and 41 years respectively at a formal function. In December, we also bid farewell to former Admin Assistant, Akilah Phillips.

Following a decision by the BCCI Council to close the Duty-Free Facility at the Grantley Adams airport due to significant operating losses, the Facility staff requested voluntary redundancy during the last quarter of the year. We thank these members of staff as well as those members of the Secretariat who served the organization and acknowledge their contribution to the Chamber during their tenure.

Another element of the restructuring process was a review and revision of existing terms of reference for the Standing Committees of the BCCI. This was to ensure alignment with the updated governance structure as outlined in the new strategic plan.

Remote Working & ICT Policies The pandemic served to highlight the importance of strong technical infrastructures and reliable remote work options. It also necessitated the need for rapid digital transformation in the public and private sector to ensure business continuity when circumstances do not allow for regular operations.

A Remote Work Policy was developed during the year to support remote working for the Secretariat staff and to ensure that the operations of the BCCI were not severely disrupted during the national shutdowns and restrictions. The policy forms part of the BCCI’s safety protocols for staff in accordance with Government’s public health guidance aimed at slowing the rate of transmission through social distancing.

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The Barbados Chamber of Commerce and Industry

A Computer & Technology Acceptable Use Policy was formulated with input from the Digital Societies Committee. The policy is a key component of the BCCI’s overall information security and network security management frameworks. The primary aim and objective of the Policy is to establish and maintain the requirements for the acceptable use of technology, information systems, computers, applications, and networks owned or held by the Chamber.

Stakeholder Engagement & Partnerships Advocacy and stakeholder engagement remain core functions of the Chamber and during the year, despite the COVID-19 interruptions, the Chamber was able to further build and effectively leverage strategic partnerships for the benefit of our membership.

In recognition of the importance of building strong partnerships and collaborations, efforts were made to advance the objectives of existing MOUs and agreements aimed at increasing trade and investment opportunities and provide technical assistance and knowledge sharing for the benefit of the business community. The details of these partnerships and collaborations are included under Highlights for 2020 in this Annual Report.

The BCCI continued to contribute to national efforts to address the economic challenges affecting Barbados through our active representation as a member of the BPSA, at the level of the Social

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Partnership. As Executive Director, I represented the Chamber along with the President and other members of the Executive at numerous consultative sessions during the year. March through to May were exceptionally demanding as we participated in regular meetings with the Prime Minister of Barbados, various Ministers of Government, the BPSA and other public and private sector officials to discuss and represent the business sector as the Government formulated and implemented plans to mitigate against and manage the COVID-19 pandemic.

At the regional level, the Chamber’s active participation and input on CARICOM traderelated and other matters included: • CARICOM Regional Specification for the Labelling of Pre-packaged Foods Ongoing meetings and discussions during the year on the CARICOM Regional Specification for the Labelling of Prepackaged Foods (FoPL) which will apply to imports and exports as well as foods which are manufactured locally for consumption.

Discussions focussed on ensuring a favorable decision on the FOPL model that will be best suited for the private sector and its trading partners while underscoring the private sector’s commitment to the national agenda to reduce NCDs in Barbados and across the region.

On December 9th, the BCCI partnered with the BPSA and BMA to host a sensitization session to update members of the local private sector on developments with respect to FoPL and to ensure that the input of local manufacturers and importers was taken into consideration in

Annual Report 2020

the determination of a common position by the private sector ahead of the FoPL Regional Technical Sub-Committee of CROSQ scheduled for December 23rd.

The session was attended by Dr. Patrick Antoine, Consultant, CARICOM Private Sector Organization (CPSO) who provided an update on the regional private sector response to FoPL. It was agreed that a significant amount of work needed to be done before the private sector could firmly agree on a FoPL model and that time needs to be granted to the private sector for a Regulatory Impact Assessment on FoPL throughout the region. The BCCI continues to participate in stakeholder engagements on this critical matter.

• Regional Network of Chambers of Commerce (CARICHAM) The Chamber continued to actively provide input as a member of the regional network of Chambers of Commerce (CARICHAM).

During the year, the network of chambers shared best practices relating to their respective COVID-19 response action plan and measures implemented to assist businesses to buffer the impact of the pandemic.

The BCCCI sought the assistance of the regional network of chambers in its lobbying efforts relating to high demmurage charges levied by shipping lines. The intention was to seek a regional approach to lobbying the major shipping lines operating within the region particulalry in light of the impact of the pandemic on trade.

• BVI Intra-Regional Commerce and Trade Symposium The BCCI President and I participated in the BVI’s Intra-Regional Commerce and Trade Symposium hosted by the Premier’s Office of the British Virgin Islands (BVI) via Zoom on March 30th, 2020. The objectives of the symposium were to obtain a broad overview of the demands and capabilities of the business sectors in the region with respect to trade within the region and identify obstacles to intraregional trade and recommend solutions, inclusive of logistics and legislative issues.

The topics discussed were food security, enhancement of trade in the Caribbean region during COVID-19 and capacity to meet the needs of Caribbean citizens as opposed to depending on imports from first world countries.

• Caribbean Chamber of Commerce in Europe The BCCI facilitated an introductory meeting with the Caribbean Chamber of Commerce in Europe, to explore possible opportunities for collaboration between both Chambers. The framework for the Caribbean Chamber of Commerce in Europe (CCCE) is to create a trading platform in response to the logistical challenge facing Caribbean exports.

FUTURE OUTLOOK June 2020 marked one year since I assumed the role as the Executive Director.

My mandate from inception was to assist the Chamber in becoming a more visible

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The Barbados Chamber of Commerce and Industry

and engaged organization and to enhance the value proposition to the members of the Chamber while assisting our members to navigate the challenges facing the business sector locally and globally.

Additionally, I was tasked with improving organizational efficiencies including streamlining the structure and operations of the BCCI Secretariat to make it more ‘fit for purpose’, more agile and responsive to the changing and diverse needs of the business sector in Barbados. I am pleased to report that we have made great strides in accomplishing many of these goals.

It has been an honour to lead the BCCI, particularly, through a process of change despite the unprecedented threats to businesses due to the impact of the global pandemic.

Over the next year, our commitment to you our members remain unchanged. We will continue to leverage new technological innovations to facilitate meaningful engagement and enhanced services and initiatives for members. Most importantly, we will continue to ensure that the BCCI has a seat at the table local and regionally to represent the interest of the business community. As we look towards 2021, we forge on with the recognition that every crisis offers an opportunity to innovate,

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grow and create new ideas, new services and new modalities for how we function and grow our organizations.

APPRECIATION We take this opportunity to thank those who joined the Chamber for the first time during the year. We embrace your decision to join as an indication of the essential role we play in supporting the needs of businesses across all sectors. We also thank our loyal members for staying the course and for supporting the continued growth and development of the Chamber.

We commit to doing all that we can to live up to our longstanding ethos, no matter the economic climate.

Finally, I record appreciation to the BCCI President, Trisha Tannis, the Executive and Council, Committee Chairs, volunteers, partners and sponsors who all contributed to ensuring that the Chamber successfully achieved its goals and initiatives for 2020.

I also wish to thank the hardworking staff of the Secretariat for their unwavering support and tenacity despite the increased demands and challenges created by the pandemic during the year.

Misha Lobban Clarke Executive Director

Annual Report 2020

HIGHLIGHTS 2020 Events

Shortly after the BCCI held its premier event for 2020, Barbados went into an island-wide lockdown due to the COVID-19 pandemic. In accordance with the national emergency measures imposed by the Government of Barbados, which placed restrictions on public gatherings and events, the BCCI cancelled all planned in-person events for the remainder of the year. Despite the challenges posed by the pandemic, the BCCI was able to successfully leverage virtual channels such as Microsoft Teams and Zoom and secured partnerships to host several webinars aimed at facilitating knowledge-sharing and providing value-add to members and the wider business community during the year.

BCCI Business Luncheon | “Envisioning 2020: The Path Towards A New Decade” The first and only BCCI Business Luncheon of the year was held on February 6, 2020 and featured the Prime Minister of Barbados, The Hon. Mia Amor Mottley, who facilitated a dynamic panel discussion.

The panel discussion preceded the featured address by Dr. Kevin Greenidge, Government’s Senior Economic Advisor, who delivered an impactful presentation on the progress of the Barbados Economic Recovery and Transformation (BERT) programme and shared insights on how the private sector can support the efforts to successfully move the country into the next decade.

The event was very well attended by business leaders who actively engaged the Prime Minister and Dr. Greenidge.

Event sponsors were NCB Capital Markets (Barbados) Ltd., Ernst & Young (Barbados) and the Central Bank of Barbados.

Webinar Series | “Practical Considerations for E-commerce in the New Normal” The first webinar hosted by the BCCI was held via Zoom on August 4, 2020 and sponsored by Webstylze. Given the wide-reaching impact of the COVID-19 pandemic and the resulting, critical need for businesses to quickly enhance their eCommerce capabilities, the

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The Barbados Chamber of Commerce and Industry

session was geared to provide practical guidance to members and the wider business community as they navigate the challenges posed by the pandemic. To inform the discussion, the findings from a BCCI COVID-19 Business Impact survey was shared with participants, followed by presentations on the topics: “Growing with Ecommerce”, “Decoding the Data” and “Cybersecurity considerations for Ecommerce.”

Webinar Series | “Understanding Risk in an Evolving World” With the rise in natural disasters and its impact on businesses and economies globally, the BCCI hosted a webinar on October 2, 2020 on the topic, “Understanding Risk in an Evolving World.” The virtual session enabled business leaders to learn more and discuss the importance of widening their risk management strategies to allow for greater agility during times of crisis.

The event brought together a panel of public and private sector experts who shared insights and expertise in the areas of business continuity, resilience, and disaster risk management.

Sponsored by Sagicor Life Inc and Lynch Insurance Brokers, the key topics discussed were the management of multiple hazards and threats that continue to pose a risk to the economies in the region, how to use disaster risk reduction strategies effectively, calculating the value of business continuity and resilience; and strategies for navigating through disasters and loss mitigation.

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Virtual Digital Conference | “Executive Mindset: Evolved Thinking for Business Leaders”

The BCCI Digital Societies Committee hosted its annual digital event on November 13, 2020 with a renewed focus on digital transformation. The event featured an impressive cadre of local and international experts including CEO & Founder of eBanjo Inc, Chares Ifedi; CEO of Digital Path based in Estonia, Calum Cameron; Director AI, Automation & Analytics of Incus Services, Leslie Lee Fook and Senator the Hon. Kay McConney, Minister of Innovation, Science & Smart Technology.

The theme of the virtual conference was influenced by the unprecedented global disruption caused by the pandemic, which has necessitated businesses to find new and innovative ways to operate effectively and has forced executives to develop a new mindset, to better adapt and evolve their thinking to survive and thrive beyond the current crisis. The discussions explored evolving and practical solutions for a more seamless e-commerce experience and new and evolving digital strategies to enable businesses to better thrive in the “new normal.” The agenda also included an update on the progress made in transforming Barbados to a smarter digital economy by the Ministry of Innovation, Science and Smart Technology (MIST), as well as future plans by MIST.

Annual Report 2020

PUblic/private Partnerships MoU with Kenya Private Sector Alliance (KEPSA) The BCCI finalized a joint Memorandum of Understanding (MoU) in collaboration with the Barbados Private Sector Association (BPSA) and the Kenya private sector (KEPSA) in 2019, to facilitate the sharing of trade information between Barbados and Kenya and to provide greater opportunities in trade and business.

To best operationalize the MoU, the Executive Director of the BCCI and the CEO of the BPSA held meetings during 2020 to discuss the appropriate next steps. An agreement was made on August 19, 2020 to engage a BPSA trade expert to conduct research and provide an action plan with timelines to guide the implementation of the agreed objectives of the MoU. A trade expert was commissioned at the beginning of September to produce a framework report, detailing sectoral trade opportunities with Kenya and the potential challenges that would need to be addressed. It was also decided that the consultant would work with the BCCI to prepare a survey which would formally assess interest among local businesses to establish trade relations with Kenya. This was distributed in November 2020.

BCCI and ACCA MoU Leveraging the Memorandum of Understanding (MoU) signed in October

2019, the BCCI and ACCA partnered to host a webinar on Risk Management for SMEs: building resiliency and business continuity in times of crisis. The virtual session which was held on August 19, 2020, focused on building resiliency and business continuity in times of crisis and was attended by over 500 participants.

Amidst crisis and an uncertain future, it is crucial that small and medium-sized enterprises find creative ways to minimize their risk and remain agile. The joint ACCA and BCCI webinar brought together expert panellists from Barbados and the wider Caribbean, who shared practical insights and expertise to help SMEs build their resiliency with solid business continuity plans. Key areas discussed included continuity of operations and services, protecting the health of staff and customers, managing supply chain shortages, dealing with investment issues, and potential opportunities for SMEs. In keeping with the MoU, both bodies will continue to explore opportunities to develop and provide technical assistance, knowledge-sharing and training initiatives for the benefit of their respective membership.

Business Continuity: Transitioning Through A Pandemic Series The BCCI, in partnership with Guardian Life of the Caribbean and the Trinidad & Tobago Chamber of Industry and Commerce, hosted a three-part webinar series to assist business owners with

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The Barbados Chamber of Commerce and Industry

transitioning the “new normal” as a result of the global pandemic. The series was aimed at highlighting actions that small and medium-sized businesses should adopt to assist with stabilizing their business during the pandemic.

The first instalment of the series, which was entitled “Your Human Capital“ was held on June 26, 2020. The second session, “Going Digital - moving your business from offline to online” was held on July 10, 2020 and rounding up the series was “The Financial Way Forward”, which took place on July 10, 2020. All the sessions were hosted via Zoom and facilitated interesting and informative discussions.

Customs Bill Consultation Workshops: A Public-Private Initiative Recognizing the critical importance of a collaborative approach to public advocacy, the BCCI collaborated with the Customs and Excise Department (CED) to host a virtual three-part consultation workshops on the draft Barbados Customs Bill, 2019. The objective of the consultation series was to inform the Barbados trade community about the proposed legislative changes, to consider the implications of the changes for the business community and to gather their comments and feedback on the Bill. The consultation workshops also sought to provide participants with a better understanding of Barbados’ obligations under the World Trade Organization, the Trade Facilitation

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Agreement and CARICOM, and how they translate into customs’ requirements for import and export processes.

The opening consultation workshop was held on August 11, 2020 and featured a keynote address by the Hon. Ryan Straughn, Minister in the Ministry of Finance. The official opening was followed by a working session which reviewed and discussed the Bill. The second session was held on August 20, 2020 and the final one on August 26, 2020. The consultations were led by technical experts from the BCCI Trade and Facilitation Committee; the CED; the CARICOM Secretariat; the Ministry of Energy, Small Business and Entrepreneurship; the Shridath Ramphal Centre at the UWI Cave Hill Campus and the Barbados Customs Brokers & Clerks Association.

The three-part consultation workshop was sponsored by the Barbados Port Inc. and Massy Stores.

The Caribbean Chambers of Commerce (CARICHAM) Following its historic launch in Barbados on April 1, 2019 the network of Caribbean Chambers of Commerce (CARICHAM) is the first representative business support organisation for the Caribbean Private Sector. The Network now comprises 21 members who work together to advocate and create enhanced value for members of the respective chambers; to reduce the risk of members and their countries to disasters; share knowledge and best practices among the network; and to

Annual Report 2020

CARICHAM Team at the BRICs+ Conference in Suriname- February 2020

enhance transportation, trade facilitation, and promotion.

supporter and participant in the Network’s activities.

In June 2020, Dr Thackway (Dax) Driver, CEO of the Energy Chamber of Trinidad & Tobago succeeded to Ms. Lizra Fabien, Executive Director of the Dominica Association of Industry and Commerce as the CARICHAM Chair. Mr. Andrew Satney, Executive Director of the St. Kitts and Nevis Chamber of Industry and Commerce took over the role of Vice Chair.

Thanks to the mobilization of the Regional Cooperation Fund (FCR), a full-time coordinator was hired in November and is currently based in Dominica.

The Coordinator’s focus is on providing administrative support, facilitating communication, and monitoring processes within the network, as well as working on the Network’s visibility.

With the impact of the COVID-19 pandemic and input from member Chambers, CARICHAM launched a webinar series: “CARICHAM Regional Growth Series” in 2020. These dynamic virtual sessions were designed to support the members of the Chambers who are part of CARICHAM and the Private Sector of the Caribbean and to encourage best practices and knowledge sharing among the network of regional Chambers.

As a founding member, the BCCI was represented by Executive Director, Misha Lobban-Clarke at meetings hosted by CARICHAM during the year. The Barbados Chamber continues to be an active

The BCCI coordinated and hosted the second episode of the series entitled, “Remote work – Maintaining a Competitive Edge for Businesses.” on June 19, 2020. This session was moderated by BCCI Executive Director, Misha Lobban-Clarke and featured Ms. Vanessa Phala, Senior Specialist for Employers Activities, International Labour Organisation (Dominica); Ms. Norma Shorey-Bryan from Catalyst Consultants and Mr. Mario Greene, Senior Manager,

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The Barbados Chamber of Commerce and Industry

Transaction Advisory Services with Ernst & Young (Barbados).

The other webinar series held during the year were as follows: • Episode 1: “Preparing for the Hurricane Season in Light of the Impact of COVID-19 on our Caribbean Economy.”

• Episode 3: “The Importance of Regional Air Transportation for the Economic Recovery of the Caribbean.”

• Episode 4: “Doing Business with Cuba.”

On February 27 & 28, 2020, the Suriname Chamber of Commerce and Industry hosted members of the Network for the first CARICHAM BRICS+ Conference to strengthen the business relationship between CARICHAM and BRICS+ countries, to share opportunities for doing business in each represented Caribbean country, and to understand the opportunities for access to finance by regional institutions.

This conference also provided an opportunity for CARICHAM members to gain insights into the operation of the Suriname Chamber and to strengthen relationships with businesses in Suriname through businesses-to-business meetings.

Members of the Disaster Risk Reduction working group organized a Hurricane Preparedness Campaign targeting MSMEs. This campaign was displayed on social Media (Facebook, LinkedIn) and shared via

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email to the businesses. This campaign will be held annually and is part of the DRR Toolkit proposed by this working group to enhance the resilience of Caribbean MSMEs. CARICHAM has established a working relationship with key International and Regional organizations: United Nations Office for Disaster Risk Reduction (UNDRR); Caribbean Export Development Agency (CEDA); CARICOM Disaster Emergency Management Agency (CDEMA); the Organization of African, Caribbean and Pacific States (OACPS); US AID; CARICOM Private Sector Organization (CPSO), and the International Chamber of Commerce (ICC), among others.

CARICHAM is also represented on regional committees inclusive of America Business Dialogue (ABD) and CARICOM’s Regional Committee for Trade Facilitation.

Annual Report 2020

Let’s Talk Business Luncheon with the Hon. Prime Minister- February 2020

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The Barbados Chamber of Commerce and Industry

Staff Retirement Luncheon - October 2020

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Annual Report 2020

UK Parliament Visit - February 2020

Meeting with the Minister of Small Business, Entrepreneurship, & Commerce to discuss COVID-19 Basket of Goods - March 16, 2020

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The Barbados Chamber of Commerce and Industry

2020 BCCI Webinars

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Annual Report 2020

CORPORATE SPONSORS &PARTNERS Sponsorships and partnerships are key to the Chambers success in fulfilling its mandate and annual goals. It would not have been possible to successfully deliver the events and initiatives that were accomplished in 2020, without the kind support of our sponsors and partners.

Thaonu!k Y to all 2020 sponsors and partners

Your investment allowed the Chamber to meet its mandate to provide knowledge-sharing activities, business support and advocacy for the benefit of members in a year that was fraught with significant challenges.

OUR CORPORATE SPONSORS AND PARTNERS NCB Capital Markets (Barbados) Limited Ernst & Young (EY) British American Tobacco Central Bank of Barbados Webstylze Sagicor Life Inc. Lynch Insurance Brokers Inter-American Development Bank

Massy Stores Caribbean Export Development Agency C&W Business Digicel Business Northpoint Consulting Inc. JP Marshall Associates Barbados Port Inc. Yello

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The Barbados Chamber of Commerce and Industry

REPORT OF THE COUNCIL The Barbados Chamber of Commerce and Industry (BCCI) convened its 194th Annual General Meeting on Wednesday, June 30, 2020. Mrs. Trisha Tannis, CEO of Unicomer (Barbados) Ltd. was elected to serve for a second and final term as President. Joining her on the Executive Committee for the period 2020-2021 were Senior Vice President, Mr. Anthony Branker (Massy Distribution Barbados Ltd); Vice President Finance, Mrs. Betty Brathwaite (Topstar Services SRL) and Vice President, Mr. James Clarke (TMR Sales & Service Ltd).

Immediate Past President, Mr. Ezra Prescod, (SOL Barbados Ltd) concluded his one-year term in May 2020.

Twelve persons were elected to serve on the Council of the Barbados Chamber for the 2020-2021 period: • • • • • • • • • • • •

Mr. Andy Armstrong (Armstrong Agencies) Mr. Anthony Clerk (Republic Bank (Barbados) Ltd.) Mrs. Alison Browne-Ellis (Cave Shepherd & Company Ltd.) Mr. Avinash Vaswani (Satya Enterprises Ltd).

Mr. Imran Phillips (Rubis Caribbean) Mr. Jensen Sylvester (C&W Business) Mr. Norman Barrow (A&B Music Supplies) Mr. Patrick Hinkson (Sagicor General Insurance) Mr. Rolf Phillips (Consolidated Finance) Mrs. Ronaele Dathrone-Bayrd (PwC) Mr. Sanjay Amin (BCQS International) Ms. Vidia Woods (Hanschell Inniss Ltd)

The members of Council appointed as sectoral representatives on the Council for the period were:

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Sector

Council Representative

Retail and Commerce

Avinash Vaswani

Tourism and Culture

Norman Barrow

Financial

Anthony Clerk

Professional Services

Ronaele Dathorne-Bayrd

Other (construction)

Sanjay Amin

Energy

Imran Phillips

ICT

Jenson Sylvester

Manufacturing

Vidia Woods

Annual Report 2020

Meetings of the Executive Committee Meetings of the Executive Committee were held monthly to discuss a wide range of matters, including the Chamber’s representation on Boards and Committees, the function of the Working Committees in supporting the mandate of Council and the work of the Chamber, as well as representation and advocacy activities on behalf of the membership. The Executive Committee also focused on assessing the performance and future of the Duty-Free Facility, as well as the strategic planning process to formulate a new 3-year plan for the BCCI. Meetings of the Council Eight meetings of the Council were convened during the year to discuss matters relating to the impact of the global pandemic on businesses and the Barbados economy and the increased level of advocacy and representation by the Chamber to assist members.

Other key issues discussed by the Council during the year were the implications of Government’s proposed liberalization policy and the impact of the COVID-19 pandemic on the sector and concerns by importers regarding high demurrage fees and lobbying efforts by the Chamber at the local and regional level in this regard.

The draft Customs Bill and consultations to facilitate broad-based review and comments from the private sector and matters relating to the Front of Package Labelling model under consideration locally and regionally, were also deliberated by the Council. The Council also approved the terms of references for the Standing Committees for 20202021 and the appointment of Chairpersons for the respective committees.

Report of the Standing Committees of the BCCI Bridgetown Revitalisation/Smart Cities Committee The mandate of the Bridgetown Revitalisation/Smart City Committee is to ensure that Bridgetown becomes a City with enhanced virtual connectivity through the identification of amalgamated Centres of Excellence, which define the City of Bridgetown brand so that it appeals to locals as well as traditional and emerging tourism markets.

The Committee continues to promote the objective of revitalizing the City and identifying areas that are in dire need of attention. This entails representing the interest of BCCI members among key policy makers and stakeholders responsible for decision making on the infrastructure and operations of an enhanced Bridgetown, as well as ensuring that the BCCI can have an overarching perspective of all relevant enhancement projects within the City.

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The Barbados Chamber of Commerce and Industry

In 2020, the Committee led by Chairman Mr. Edward Abed engaged with representatives from the Barbados Tourism Investment Inc. and the Urban Development Commission.

Sustainable development was a key focus of the Committee, with concerns raised regarding the need for stakeholders to ensure the sustainability of projects. This was highlighted during engagements on the Fairchild Street Market Village Project. This state-of-the-art facility will not only result in a much-needed face lift to the area but is slated to bring increased employment and commercial activity to Bridgetown.

The Committee participated in a working visit and tour of Bridgetown by the Hon. Kerrie Symmonds, Minister of Energy, Small Business and Entrepreneurship on September 23.

During the walking tour, the Minister promised to effect improvements to the City by yearend in an effort to address the concerns highlighted by stakeholders.

The Committee continued to highlight the need for better lighting, improved security, frequent garbage collection, bathroom facilities and parking within the City. During discussions with policy drivers the facilitation of direct private sector involvement and investment in key development projects was underscored. A request was also made for the BCCI to be represented in the Redevelopment of Bridgetown Project meetings to best ensure that the interest of the business community was heard.

The Committee represented the Chamber at a meeting convened by the Ministry of Innovation and Smart Technology (MIST) on September 15, 2020 to discuss the installation of 76 Wi-Fi Access Points in Bridgetown on government and private sector buildings, spanning Barbados Port Inc, Fontabelle, City Centre, Parliament Building and Independence Square. The objective is to provide wi-fi access to visitors and locals under the Ministry’s Bridgetown Wi-Fi project. The input of the BCCI was being sought with respect to engaging the relevant companies/ businesses to discuss the project and to get buy-in from the respective entities.

Phase One of the Bridgetown Transformation Project commenced on January 6, 2020 and included construction of the Golden Square Freedom Park and completion of the Fairchild Street Market Village. The Project is being executed by the BTI Inc. and was scheduled to be completed by July 01, 2020 (day of national significance). However, the COVID-19 pandemic has delayed the Bridgetown Transformation Project and other infrastructural projects that were slated to enhance commercial activity in the nation’s capital.

The Bridgetown Revitalisation/Smart City Committee remains focused on seeking opportunities for BCCI members to partner on initiatives and continues to lobby for the need for increased investment and commercial activity in Bridgetown.

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Annual Report 2020

The Committee membership comprised: • Mr. Edward Abed – Chairman (S. Abed’s & Co. Ltd.) • Sir Paul Altman (Altman Real Estate) • Senior Super. Antonio Forte (Royal Barbados Police Force) • Mr. Richard Simpson (Cave Shepherd & Company Ltd.) • Profession Winston Moore (University of the West Indies) • Mr. Antonio Sealy (Barbados Light and Power) • Mr. Dean Straker – (Barbados Industries Limited) • Ms. Kathy Harris – (Duty Free Caribbean) • Mrs. Trisha Tannis - President, BCCI (ex officio) • Mrs. Misha Lobban Clarke - Executive Director, BCCI (ex-officio) Customs and Trade Facilitation Committee The Customs and Trade Facilitation Committee (CTFC) constituted for 2020-2021 was chaired by Mr. Lalu Vaswani, Director of Satya Enterprises Ltd. and supported by the following members: • • • • • • • • •

Mr. Louis Forde (L. A Forde Logistics) Mr. Kenneth Atherley (Barbados Port Inc.) Mr. Ronald Williams (The Broker Software) Mr. Andre Gibson (Tropical Shipping) Mr. Adrian Beckles (FEDEX) Mrs. Jewel Brereton (Duty Free Caribbean) Dr. Jan Yves Remy (UWI, Shridath Ramphal Centre) Mrs. Trisha Tannis - President, BCCI (ex officio) Mrs. Misha Lobban Clarke - Executive director (ex officio)

During the period under review, the Committee undertook a review of the draft Customs Bill, 2019 as it contained several legislative changes which could impact businesses across Barbados. The Committee thought it prudent for the business sector to be adequately informed on the contents of the Customs Bill and afforded the opportunity to comment on the components of the Bill. A working group of the Committee co-ordinated a series of consultations in conjunction with the Customs and Excise Department (CED) to facilitate review of the Customs Bill, 2019.

Following the Customs Bill Consultations, the BCCI engaged a trade consultant to review the responses and comments given by members of the business sector from the consultations held in August 2020, as well as to craft an official private sector response to the Customs Bill. The consultant’s final report on the analysis of the Customs Bill was submitted to the CED on December 21, 2020.

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The Barbados Chamber of Commerce and Industry

The BCCI is grateful to the Caribbean Export Development Agency for funding the consultancy to undertake the comprehensive review of the Customs Bill 2019. The Committee also acknowledges and commends the Customs and Excise Department for its sustained determination over the past 10 years to revise the original legislation and to bring it towards an early conclusion.

The Committee expects the Customs Bill to be on its agenda for 2021 as it awaits an update from the CED on the Customs Bill report submitted by the Chamber.

The Committee also assisted the Customs and Excise Department in their review of the pilot programme for 20 companies in the new Trusted Trader Programme. The CED has indicated its intention to expand the programme to other companies in 2021.

In support of Government’s desire to promote increased intra-regional trade between Guyana and Suriname with Barbados, the CFTC Committee Chair, Lalu Vaswani, chaired a Steering Committee on behalf of the BCCI to advance this goal. The Steering Committee comprises representatives from the Ministry of Energy, Small Business and Entrepreneurship and the Guyana and Suriname Chambers of Commerce.

The Committee expresses its heartfelt appreciation for the consistent and superlative support that has been provided by the Secretariat of the BCCI under the leadership of Mrs. Misha Lobban-Clarke, Executive Director. Appreciation is also extended to all members of the Committee for their support during the year.

Digital Societies Committee The Digital Societies Committee membership for the period 2020-2021 comprised of the following persons: • • • • • • • • • • •

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Mrs. Susan Boyea - Committee Chair (Sagicor Life Inc.) Ms. Brenda Pope (Consult BP) Mr. Kolade Nurse (Ernst & Young) Mr. Paul Marshall (JP Marshall Associates) Mr. Philip Lewis (Northpoint Consulting Inc.) Mrs. Patricia Rowe-Seale (CIBC First Caribbean International Bank) Mr. Roxroy Greenidge (Royal Bank of Canada) Mr. Jeremey Jones (Productive Business Solutions) Mr. Ashish Uttamchandani (Massy Group of Companies) Mrs. Trisha Tannis - President, BCCI (ex officio) Mrs. Misha Lobban Clarke - Executive Director, BCCI (ex officio)

Annual Report 2020

The Committee’s mandate during the year focused on three key components: 1. Provide recommendations relating to the IT framework of the Chamber’s Secretariat and ensure that it is well-equipped to provide the membership with the highest level of customer support while maintaining optimum efficiency in its workflow processes through the use of ICT; 2. Make recommendations to enhance the ICT capacity of BCCI members within the business community and by extension, the wider private sector. This includes identifying risks and opportunities that can assist the BCCI’s digital strategy for the business sector. The role of the Committee is advisory, focusing on policies and initiatives that foster entrepreneurship and new ways to translate into value added opportunities for BCCI members.

3. Serve as a vehicle for engagement between the Chamber and the public sector by reviewing national policy and the digital strategy of the Barbadian government and recommending on behalf of the BCCI, positions on the development and use of ICT in Barbados.

In the period under review, the Committee provided advisory support to the BCCI in relation to its ICT framework and operations. The Committee also supported the Chamber as phase one of the ICT project came to an official close.

During the first quarter of 2020, the Committee drafted an outline for a minimum technology requirement initiative. The objectives of the initiative included: • Defining the minimum required to effectively operate in this fourth Industrial Revolution.

• Understanding gaps or maturity against the minimum for BCCI members and work with members to narrow or bridge the gap.

• Understanding the greatest gap or weakness which could inform a packaged awareness event.

• Drive a greater awareness of levels of maturity across the Private Sector.

Following the completion of the BCCI Strategic Plan 2020 – 2024, the Committee was tasked with several action items under strategic initiative #9, to support membership with their digital transformation (including e-commerce) mandates.

Surveys & Events In light of the COVID-19 pandemic, the Committee created an ICT readiness survey which was disseminated to the BCCI membership in the first half of 2020. The Committee, on behalf of the BCCI, coordinated an e-commerce webinar entitled, Practical Considerations for E-commerce in the New Normal on August 04, 2020. The webinar was informed by the findings of the ICT readiness survey and gave attendees insights into the survey findings, cybersecurity considerations for e-commerce and achieving businesses growth through e-commerce.

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The Barbados Chamber of Commerce and Industry

The 2020 digital conference entitled, Executive Mindset: Evolved Thinking for Business Leaders, was organized by the Digital Societies Committee. The event took place on November 13, 2020 via Zoom. The conference provided participants with insights into how they could operate in the digital era and ensure alignment with the digital transformation of Barbados.

Due to insufficient consumer behaviour data, the Committee initiated a survey to evaluate customers’ behaviour and online services adoption. The data from this survey formed the basis of the data analytics presentation for the digital conference. The survey was executed by the Digital Ambassadors from the National Council for Science and Technology at various service providers such as SurePay, commercial banks, credit unions and post offices at various locations.

Disaster Risk Reduction Committee The Disaster Risk Reduction Committee mandate includes overseeing the Chamber’s participation in the Department of Emergency Management’s (DEM) annual disaster management programme, as well as supporting the implementation the Memorandum of Understanding between DEM, the Chamber, United Nations Office for Disaster Risk Reduction (UNISDR) and Caribbean-Central American Action (CCAA).

As part of its objective to facilitate disaster preparedness education and training, the Committee assisted the BCCI Secretariat with the planning of a virtual webinar entitled, Broadening our Risk Perspective: Understanding Risk in an Evolving World which was held on October 02, 2020. The session targeted small and medium-sized enterprises and was geared to help them better manage risk and mitigate losses during times of uncertainty, especially against the background of the global coronavirus pandemic and other environmental risks. It demonstrated the need for a new level of preparedness and risk management in business continuity strategies.

Webinar speakers included: • Ms. Kerry Hinds, Director, Department of Emergency Management • Ms. Andria Grosvenor, Deputy Executive Director (Ag) Caribbean Disaster Emergency Management Agency • Ms. Kim Jones, Manager Business Continuity Management, Sagicor Life Inc (Barbados) • Mr. Gregory Rose, Chief Executive Officer, Lynch Insurance Brokers • Mr. Paul Inniss, Executive Vice President & General Manager, Sagicor Life Insurance Inc (Barbados)

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Annual Report 2020

On December 14, 2020 Committee Chair, Mr. Gregory Rose met with representatives of the Exercise Tradewinds Secretariat to discuss potential opportunities for collaboration.

Key discussion points were the security of commerce and food during disasters, identification of warehouses for the storage of emergency food and supplies, cyberattacks and privacy issues, Risk Management training for the security community and facilitation of insurance against physical lost during business interruptions.

The members of the Disaster Risk Reduction Committee were: • • • • • • • • •

Mr. Gregory Rose - Chair & CEO Lynch Insurance Brokers Ltd Mr. David Alleyne - Brydens Insurance Mr. Wayne Lowe - Grantley Adams International Airport Ms. Kerry Hinds - Department of Emergency Management Ms. Kim Jones - Sagicor Lifer Inc Mr. Gregory Hazzard - Director, Mahy, Ridley Hazzard Engineers Mr. Errol Wallace - CIBC First Caribbean Mr Sabu Best - Barbados Meteorological Services Mr Keithroy Halliday - Barbados Water Authority

Green Committee The mandate of the Green Committee is to support Barbados’ goal of reaching 100% renewable energy/energy efficient usage. It seeks to assist the Chamber and its members in reducing their energy footprint. Its primary focus also includes renewable energy and energy efficiency towards the achievement of a sustainable green economy.

Chaired by Mr. Andy Armstrong of Armstrong Agencies, the Committee’s membership is comprised of the following: • • • • • • • • • •

Ms. Lani Edghill (Green Business Barbados) Mr. Hallam Edwards (Enermax) Mr. Jerry Franklin (Ensmart Inc.) Mr. Robert Hinds (Atlantis Submarines) Mr. Neilsen Beneby (Emera Caribbean) Ms. Vidisha Hathiramani (Lex Caribbean) Mr. Shimon Mc Intosh (RBC Royal Bank (Barbados) Limited) Ms. Stacey Hem Lee (Republic Bank) Mrs. Trisha Tannis - BCCI President (ex -officio) Mrs. Misha Lobban Clarke – BCCI Executive Director (ex-officio)

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The Barbados Chamber of Commerce and Industry

During 2020, a Green Finance sub-committee was formed to focus on financing options for renewable energy projects. This sub-committee has looked at what are the main issues that make projects less bankable and has written both Barbados Light & Power (BLP) and the Ministry of the Environment (MoE) seeking to have some of these impediments removed. BL&P has accepted some of the recommendations and the MoE has indicated that they are considering our recommendations.

Meeting with the Ministry of Energy, Small Business and Entrepreneurship Mr. Andy Armstrong, Committee Chair accompanied the BCCI President and Executive to a meeting with the Honourable Kerrie Symmonds, Minister of Energy, Small Business and Entrepreneurship in September 2020. At this meeting, the Chair discussed a several renewable energy concerns with the Minister including delays in the approval process for renewable energy installations caused by the fact that there are various bodies which need to review applications before TCPO can grant approval and the lack of clarity on how long the process takes.

On October 9, 2020, the Committee wrote a letter to Minister Symmonds requesting a follow-up meeting to further discuss renewable energy issues and to seek alignment with the Ministry. The Committee continues to follow up on this matter with a view to having a meeting with the Minister. The Committee also intends to meet with the Barbados Revenue Authority (BRA) to discuss pertinent matters related to the bankability of renewable energy projects.

Renewable Energy In the last quarter of 2020, members of the Committee had two productive meetings and various follow ups with the Fair-Trading Commission (FTC). The FTC has been very keen to engage and to seek advice. The second meeting reviewed the Feed-In-Tariff (FIT) decision on larger renewable energy projects.

Another concern is the number of different agencies involved in project approval. This makes it cumbersome and challenging for investors. Ideally there should be one agency coordinating applications to speed up the deployment of renewable energy systems. The committee is putting together a brief on the current process as well as recommendations to improve efficiencies.

The Barbados National Energy (Oil) Company is planning to launch a bio diesel project.

The committee made them aware that there is a current small producer of bio diesel (Paradise Green Energy). BNEC was unaware and two months later had not followed up with this small producer. To date, there has been no feedback on the progress of the BNEC project.

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Annual Report 2020

The Committee was interviewed for feedback on proposed ocean energy projects. These may take the form of a 96 MW offshore wind installation either off Archer’s bay in the north (fixed) or off Enterprise or Coconut Court in the south (floating), as well as a 10MW ocean thermal energy conversion plant off Holetown. The projects are all still in the planning/approval stage.

Wind Projects The Committee participated in a virtual meeting with MoE and other stakeholders on 15 October to update on progress to 2030 goal of 100% RE. Wind was discussed in length and the MoE was adamant that it still had an important place. On 22 October the GC attended the BL&P’s virtual town hall on the Lambert’s 10 MW wind project. At this session it appeared that the project had a green light from all regulatory agencies and installation was to start in 2021. Since then the project seems to been stalled by regulatory issues and is looking less likely.

LEGAL AFFAIRS/GOVERNANCE COMMITTEE The Legal Affairs Committee worked on several matters during the year but its main focus was on governance.

Governance One of the areas that the President and the Council prioritized during 2020-21 was the internal governance structure of the Chamber and the Council. This is in keeping with an increased focus on the way in which organisations, including non-profit ones, manage their affairs in accordance with international best practices.

The Legal Affairs/Governance Committee was mandated by the Council to provide an advisory role on governance matters being addressed, including nominations to serve on the Chamber’s Council and Standing Committees annually. The Committee was also asked to assume monitoring and oversight responsibilities for the Standing Committees of the Chamber, including possible performance evaluations of Council and Committees and recommending candidates for reappointment, removal, succession planning and performance improvements.

Some of these areas were included in the consideration for a change to the structure of the Nominations Committee. This revamped Committee is intended to assist with providing a framework for a more robust review process and succession planning for future leaders of the Chamber. The outcome of discussions in this regard will be a resolution to be put to the members for approval at the Annual General Meeting to be held in May 2021.

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The Barbados Chamber of Commerce and Industry

The governance review process will also include a review and assessment of the Committees to see whether they are meeting the current objectives of the Chamber, as well as how effectively are they functioning and how can greater value be realized from the workings of these Committees. The Committee has also been asked to consider, as part of its review process, the preparation of an up-to-date Code of Ethics for adoption by the Chamber’s membership.

A general review of the Rules is also under consideration. Among the matters reviewed in that regard during 2020 were the provisions in the Rules relating to the filling of casual vacancies. As a result, consideration is being given to the amendment of Section 8(c) of the Rules which speaks to the process relating to a casual vacancy. This along with other possible changes to the Rules will be one of the matters to be reviewed by the new Council in 2021.

New Legislation The past year saw the passage of several pieces of new legislation, as well as a number of new bills for discussion purposes that were disseminated by the Government and were relevant to the members of the Chamber, which have engaged the attention of the Committee. Among the new Acts that would have been relevant to the Chamber is the Barbados Data Protection Act. One of the key bills under consideration was the new Customs Bill which the Committee reviewed and provided comments to the Customs & Trade Facilitation Committee of the Chamber. The Committee Chair, Mary Mahabir, also participated in the Customs Bill Consultation Workshops hosted by the BCCI and provided insight on some of the legal aspects, including the enforcement mechanism and penalty provisions.

Business facilitation, particularly in light of the pandemic, was an even greater challenge during the past year than was previously the case. One of the ways identified to advance the Chamber’s objectives, is for the Chamber to partner with Government to advance its legislative agenda. This requires considerable resources, including legislative draftsmen, if meaningful ongoing input is to be made. Further consideration will have to be given as to how the Chamber could assist in this area.

Operational Matters The Committee continues to assist the Executive Director and the Council on an ongoing basis with various legal matters, such as a review of the lease to own agreement with Massy Technologies Infocom Barbados for the provision of equipment and services to support the ICT Solution for the Chamber. The Committee was also involved in discussions on certain matters relating to the Chamber’s pension plan.

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Annual Report 2020

Marketing and MEMBER RELations Committee During the review period the Council of the Barbados Chamber of Commerce and Industry (BCCI) approved and amended the scope of the Marketing and Communications Committee which now includes focus on member relations. Under a new mandate which includes the vetting of membership applications before presentation to Council and advising the BCCI on matters specific to member development, the Committee has been renamed the Marketing and Member Relations Committee.

The Committee met in January 2020 with the objective of developing a Marketing Action Plan and other public relations initiatives including the increased use of social media that would enhance the promotion of the BCCI and its members.

As part of its mandate, the Committee assisted the Secretariat with the planning of the first annual event for the year, the BCCI Business Luncheon themed, Let’s Talk Business, Envisioning 2020: The Path Towards a New Decade. The Committee also to assist the Secretariat with the implementation of marketing and communications strategy to support the virtual Digital Conference and the Disaster Risk Reduction webinar held during the year.

The members of the BCCI Marketing and Communications Committee for the period 2020- 2021 were: • • • • • • •

Mrs. Carolyn Shepherd - Committee Chair, Sagicor Life Inc. Ms. Simone Pasmore - Webstylze Ms. Vidia Woods - Hanschell Inniss Ltd. Mr. Mark Stapleton - Katalyst Creative (Barbados) Partners Inc. Ms. Alison Browne Ellis - Cave shepherd Card services Mrs. Trisha Tannis - BCCI President (ex -officio) Mrs. Misha Lobban Clarke - BCCI executive director (ex-officio)

Retail and Distribution Committee The Retail & Distribution Committee continues to play a critical role in representing the interests of the local retail and distribution sector through advocacy and engagement with the Government of Barbados and other relevant authorities.

For the period May 2019-May 2020, the Retail and Distribution Committee was led by Mr. Andrew Bynoe, Managing Director of AOne Supermarkets and supported by the following members:

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The Barbados Chamber of Commerce and Industry

• • • • • • •

Ms. Joy-Ann Carter (Hanschell Innis) Mrs. Heather Harrington Jones (Member, Duty free Working Group member) Mr. Chris Lambert (Armstrong Agencies) Mr. Adrian Padmore (Brydens Stokes) Mr. Hiranand Thani (Royal Shop and Chair, Duty free Working Group) Mrs. Trisha Tannis - BCCI President (ex -officio) Mrs. Misha Lobban Clarke - BCCI Executive Director (ex-officio)

Public-Private Sector Engagements on the Retail Sector At the onset of 2020, the Retail and Distribution Group was very active, engaging key Ministries and agencies as well as the Government of Barbados, in an effort to prepare for the impact of the COVID-19 pandemic on the sector and the likely economic fallout as a result of this global health crisis. A BCCI WhatsApp group chat was created for retailers and distributors (members and non-members). This channel has been facilitating real time and effective communication with and among retailers and distributors prior to and during the period of the national shutdown.

On March 16, 2020, the Committee convened a meeting of retailers and distributors to discuss the impact of panic buying on stock levels, an assessment of national inventory in light of the pandemic, as well as health and safety protocols to guide retailers and distributors. A follow-up meeting of BCCI retailers and distributors was convened on March 23, 2020 at which representatives of major retail outlets agreed to institute a number of COVID-19 safety protocols with a view to ensuring the safety of staff and customers.

Members of the retail and distribution sector led by the BCCI President met virtually on March 24, 2020, with the then COVID-19 Czar, Mr. Richard Carter to discuss stage three of the Government’s COVID-19 response plan and concerns for the sector. The Committee along with members of the wider BCCI retail and distribution group also met with the then Minister of Small Business, Entrepreneurship and Commerce, Dwight Sutherland to discuss food security for Barbados during the pandemic and pledged to maintain food and commodity prices at stable levels in light of the impact of the pandemic on the local economy.

The Committee also convened an online meeting with representatives from the Barbados Light and Power Company (BLPC) to discuss the impact of the COVID-19 pandemic on businesses and the possible forms of relief, that the BLPC could offer to businesses in need of relief during the ongoing crisis.

The BCCI President, Executive Director and representatives of the retail and distribution sector participated in several meetings during March and April convened by Prime

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Annual Report 2020

Minister, the Hon. Mia Amor Mottley and the BPSA. Input was provided by the BCCI representatives on the emergency measures being implemented by the Government in response to the pandemic, as well as food supply and distribution for the nation during and after the national lockdowns. The retailers and distributors group were also instrumental in providing input to the Government on the alphabetical shopping system imposed on April 15, 2020, as well as recommendations for improving the shopping system during the period of the lockdowns.

Duty-Free Working Group The Duty-Free Working Group, which is a sub-group of the Retail & Distribution Committee, serves to represent the interests and concerns of members of the Duty Free sector. The sector which is heavily dependent on the tourism industry and cruise, was significantly impacted by global travel restrictions which resulted in reducted flights to Barbados and declines in visitor arrivals overall. Additionally, with the implementation of national lockdowns by the Government, duty free retail outlets remained closed for most of the year.

The BCCI and the Duty-Free Working Group held several meetings with the Customs and Excise Department and made representation to the Minister in the Ministry of Finance, the Hon. Ryan Straughn with a view to discussing the implications of the proposed liberalization policy and the impact of the COVID-19 pandemic on the future of the Duty-free Sector. The Working Group subsequently formulated and submitted for Government’s consideration, proposals to eliminate abuse of the duty-free system and ensure 100% alignment between duty free sales and foreign exchange deposits to the system. The proposals also presented alternative measures to generate cash flow to enable businesses within the sector to meet their financial obligations and survive during this ongoing pandemic. The BCCI and the Working Group continued to followup with the CED and the Minister, with a view to getting a response to the proposed measures. It is hoped that a response will be forthcoming in 2021.

Demurrage & the Impact on Importers and Trade Another area of concern requiring the committee’s urgent attention early in the year related to the costs of demurrage. An advertisement was placed in the Nation Newspaper requesting persons with concerns related to the high cost of demurrage to contact the Committee Chair Andrew Bynoe, with a view to discussing and identifying a collective resolution to this issue that continues to impact the local trade and business community.

Efforts were also made to lobby local and international shipping agents and shipping lines in this regard. Among the solutions considered was the probability of introducing a Barbadian Owned Demurrage/Detention Collection Company. During the year, the BCCI with the input of the Committee, increased its lobbying efforts on the matter of

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The Barbados Chamber of Commerce and Industry

demmurage charges levied by shipping lines on businesses that were shuttered for extensive periods due to the implementation of national lockdowns by the Government.

Representations were made to the Government, the Shipping Association of Barbados and the Florida Ship Owners Group to request their support in lobbying the major shipping lines, with a view to obtaining a waiver of demurrage fees for businesses in light of the extenuating circustances caused by the COVID-19 pandemic. Arising from this, several carriers/members of the Caribbean Shipowners Association (CSO) agreed to grant exemptions for demurrage charges.

Reconstituted Committee 2020-2021 Following the Chamber’s 194th AGM in June 2020, Mr. Adrian Padmore, Managing Director of Bryden Stokes was appointed Chair of the Retail & Distribution Committee for the period August 2020-May 2021. The membership of the reconstituted Committee comprised: • • • • • • • •

Mr. Christopher Lambert (Armstrong Agencies) Ms. Joy-Ann Carter (Hanschell Inniss Ltd.) Mr. Hiranand Thani (The Royal Shop and Chair, Duty free Working Group) Mrs. Heather Harrington Jones (Heather Harrington Jones Fine Jewelry) Mr. Fabian Bartlett (Caribbean ARI) Mr. Colin Corbin (Unicomer Barbados Ltd.) Mrs. Trisha Tannis - President, BCCI (ex officio) Mrs. Misha Lobban Clarke - Executive Director, BCCI (ex officio)

At its first meeting held on December 21, 2020, the reconstituted Committee considered critical issues such as the ongoing impact of the pandemic on the retail sector and pricing mechanisms and global supply chain disruptions.

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Annual Report 2020

EXTERNAL BOARDS & COMMITTEES REPRESENTATION ON BOARDS AND COMMITTEES 2020-2021 Board/ Working Group

Nominees 2020-2021

Barbados Council for the Disabled

Mr. Norman Barrow - Councilor

Barbados Stock Exchange Board of Directors

Mr. Randy Graham - Member

Barbados World Heritage Committee

Mr. Eddy Abed – BR Committee Chair

BIMAP Advisory Council

Mrs. Alison Browne-Ellis Councilor

Board of the Barbados Private Sector Association

Mrs. Trisha Tannis - President

Department of Emergency of Management National Advisory Mrs. Misha Lobban Clarke – Council Executive Director Barbados National Standards Institute - Governance

Mrs. Misha Lobban Clarke – Executive Director

Barbados National Standards Institute - Board of Directors

Mr. Gregory Rose – DRR Committee Chair

BNSI Mirror Committees • Customer Service and Satisfaction Development • Regional Technical Sub-Committee - Labelling of Prepackaged Foods

Mr. James Clarke – Vice President

Ministry of Agriculture/ Department of Emergency Management Food and General Supply Committee

Mr. Gregory Rose – DRR Committee Chair

National Hazard Mitigation Committee

Mr. Gregory Rose – DRR Committee Chair

National Task Force on Trade & Business Facilitation

Mr. Lalu Vaswani – CFTC Committee Chair

Meeting of the Social Partners

Mrs. Trisha Tannis – President Mrs. Misha Lobban Clarke – Executive Director

Meeting of the Social Partners/ Subcommittee of Social Partnership led by Minister Humphrey (Port)

Mr. Lalu Vaswani – CFTC Chair Mr. Anthony Branker – Senior Vice President

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The Barbados Chamber of Commerce and Industry

THE COUNCIL 2019-2020 Trisha Tannis President

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Anthony Branker Senior Vice President

Joan ‘Betty’ Brathwaite Vice President Finance

James ‘Jimmy’ Clarke Vice President

Alison Browne-Ellis Councillor

Sanjay Amin Councillor

Andy Armstrong Councillor

Norman Barrow Councillor

Annual Report 2020

Anthony Clerk Councillor

Ronaele Dathorne-Bayrd Councillor

Parick Hinkson Councillor

Imran Phillips Councillor

Rolf Phillips Councillor (Resigned from October 2020)

Jensen Sylvester Councillor

Avinash Vaswani Councillor

Vidia Woods Councillor 45

The Barbados Chamber of Commerce and Industry

THE BCCI SECRETARIAT

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Misha Lobban Clarke Executive Director June 2019 - Present

Eudene Wright Senior Accounting Officer

Akilah Phillips Administrative Assistant

Jennifer Holder Administrative Support

Shanice Haynes Intern

Yvonne Cox Office Attendant

Annual Report 2020

DUTY FREE REPORT 2020 The Duty-Free Facility at the Grantley Adams International Airport has been in operation since 1959. The service facilitated the delivery of purchases to travelers on behalf of local duty-free retailers and the processing of volumes of third schedules (invoices) under the Drawback Scheme.

With the impact of the COVID-19 pandemic, travel restrictions were imposed globally in 2020 resulting in significant declines in tourist arrivals to Barbados and significant declines in overall duty-free sales.

Research by the World Travel and Tourism Council (WTTC) Annual Economic Impact Report reveals that the global travel and tourism sector suffered an extreme loss of almost US$4.5 trillion in 2020. The Caribbean Tourism Organisation (CTO) noted that the Caribbean experienced a 65.5% fall in tourism arrivals in 2020. The decline in tourism arrivals was evident in Barbados, particularly during the periods of national lockdowns implemented by the Government of Barbados as well as the imposition of travel restrictions by countries globally. This decline was also translated into the hotel and duty-free sectors which remained closed for extended periods during and after the national lockdowns in 2020. As a result, the year saw significant decline in activities and the financial performance of the BCCI Duty-Free Facility and the local Duty-Free Sector in general. It is anticipated that this decline will continue into 2021 as predictions are that the recovery of the global tourism and travel industry will be modest.

Review of Packages and Triplicates processed between 2016 - 2020 A review of the performance of the Facility over the past five years shows that there was general decline with respect to packages and triplicates processed since 2016, prior to the COVID-19 pandemic and travel restrictions in 2020.

The data shows that the case of triplicates there was a peak in 2018 but a downward trend commenced pre-COVID.

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The Barbados Chamber of Commerce and Industry

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Annual Report 2020

Review of 2019 and 2020 Performance A review of the performance of the BCCI Duty Free Facility shows a decline in revenue during 2020 when compared to 2019 and a decline in the number of packages and triplicates handled by the facility in 2020 when compared to the previous year. This was due to the effect of the closure of our borders in order to reduce the spread of COVID-19 which had a significant effect on the operations at the Facility. The number of packages processed in 2020 declined by 75 % when compared to the previous year. Triplicates processed declined by 86% over the same period. Revenue recorded in 2020 was $43,474 compared to $236,914 in 2019, a decline of $193,440 or approximately 82 per cent.

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The Barbados Chamber of Commerce and Industry

Following the assessment of the performance and future viability of the facility, the decision was taken by the Chamber to close the operations. This decision was also driven by the impending liberalization of the duty-free sector by the Government and the establishment of new protocols for duty-free sales in Barbados, which will effectively eliminate the processing of triplicate invoices; one of two functions carried out by the facility on behalf of the Customs & Excise Department (CED).

Meetings were held with the CED during 2020 to discuss the timeline for the implementation of the new duty-free sales policy by the Government, its impact on the Facility and considerations by the BCCI to close the Facility. The meetings also discussed the hand-over of documentation processes to the CED ahead of the planned closure of the Facility in March 2021.

The BCCI records appreciation to the four members of staff of the Facility - Virgina Gilkes, Rashida Gibson, Sharon Bushell Moore and Sharon Shorey - for their years of dedicated service and contribution over the years.

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Annual Report 2020

NEW MEMBERS Ensuring our continued relevance as a business support organisation is a key priority for the Chamber, which has driven increased outreach to and engagement with members.

Feedback gathered has been critical in enabling the Chamber to enhance its business facilitation and support to the membership, as well as an increase in the level of representation and advocacy during the year.

To strengthen and diversify the membership, the BCCI is committed to targeting new and non-traditional businesses. During 2020, we were pleased to welcome as new members the following organisations that have met all necessary due diligence requirements for membership.

With the new additions, our membership now stands at Two hundred and Thirty-Seven (237).

Interspace Airport Advertising West Indies Limited Steamatic Barbados Ltd Continental Foods Inc RDL Eagle Trade Inc Amron Services Inc Savoy Development Barbados Inc LED-UK Lighting Ltd

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The Barbados Chamber of Commerce and Industry

2020 MEMBERS Commerce Group: Retail & Distribution

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A & B Music Supplies

Carib Rehab Limited

A & H Motors T/A Platinum Motors

C.L. Gibbs & Co. Limited

Ansa McAL (Barbados) Limited

C.O. Williams Electrical

AOne Supermarkets

Cave Shepherd Group of Companies

Armstrong Agencies Ltd.

Chemical Industries Limited

Armstrong Health Care Inc.

Commercial Trading Co. Limited

Art Holdings Inc.

Confectionery & Snacks (Barbados) Limited

Barbados Steel Works Limited

Continental Foods Inc

Bennu Inc./ Bridge Supermarket

Courtesy Garage Limited

Best of Barbados

Diamonds International Limited

Beth & Tracie

Duty Free Caribbean

Big Gases Ltd.

Eddie’s Trading Co. Ltd.

Bryden Stokes

Elmayas T/A Solid Gold

Brydens Retail Inc. / Brydens Xpress Office

French Riviera Diffusion Ltd.

Supplies Inc

Fujitsu Caribbean Limited

Burger King

Gatsby Incorporated

C. Alleyne & Co. Limited

Gaye Boutique

Caribbean Ari Inc.

GCS Ltd. /Ganzee

Annual Report 2020

Commerce Group: Retail & Distribution CONT’D

Goddard Enterprises Limited

PSMT (Barbados) Ltd.

Hanschell Inniss Limited

Regus

Harley-Davidson of the West Indies

RIMCO (Barbados) SRL

Heather Harrington-Jones Fine Jewellery

R.L. Seale & Co. Limited

H.N. Rogers Stationery Ltd.

RDL Eagle Trade Inc

Hothersal Trading

Rosmurta Inc T/A Longchamp Boutique

H & B Hardware/Northern Lumber Co

S. Abed & Co. Limited

Interlinc (Barbados) Ltd.

Satjay Bridgetown Centre

Kensington Court Group

Satya Enterprises Ltd.

Kiran’s Limited

Savoy Development (Barbados) Inc

La Romana Limited

Shoemasters Limited

LED WI Inc

Simpson Motors Ltd.

Massy (Barbados) Ltd.

SMJ Beverages (B’dos) Inc.

Massy Distribution

Solar Watt Systems Inc.

Massy Stores

Sole Addiction

Massy Stores Home

Standard Distributors Ltd.

Marshall Trading Limited

Star Products Co. Limited

Melwani’s Limited

Supreme Distributors Inc

Milano Diamond Gallery SRL

Taylor’s Cycle Centre

McEnearney Quality Inc. (MQI)

Tile Gallery Inc.

Music N’ Echo Supplies Limited

Total Office Limited

Nimsay Trading Co. Limited

Unicomer (B’dos) Limited T/A Courts

Ocean Fisheries Ltd.

West Riley Electronics Limited

Oran Sales Ltd. T/A Do It Best

World Gifts Imports (B’dos) Ltd./Little

Packaging Centre Limited

Switzerland

Popular Discounts

Stansfeld Scott & Company Ltd.

Pure Source Ltd. 53

The Barbados Chamber of Commerce and Industry

Energy MEMBERS Barbados Light & Power Co. Ltd. Rubis West Indies Limited SOL Barbados Ltd.

FINANCIAL SERVICES MEMBERS

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Axcel Finance (Barbados) SRL

First Citizens Investment Services Barbados

Bank of Nova Scotia

Limited

Barbados Public Workers’ Co-operative Credit

Fortress Fund Management Ltd.

Union Limited

General Insurance Association of Barbados Inc.

Barbados Stock Exchange Inc

Guardian General Insurance Co. Limited

Barbados Teachers’ Co-operative Credit Union

Guardian Life of the Caribbean Ltd.

BITT Inc

Insurance Corporation of Barbados Limited

British Caribbean Insurance Company Limited

Island Heritage Insurance Co. Ltd.

Brydens Insurance Inc.

JLT Towner Insurance Management (B’dos)

Capita Financial Services Inc.

Limited

Caribbean Financial Services Corporation

KPMG

CGM Gallagher Insurance Brokers Limited

Lynch Insurance Brokers Limited

Consolidated Finance Co. Limited

Massy United Insurance Co. Ltd.

Co-operator’s General Insurance Company Ltd.

NCB Capital Markets (Barbados) Limited

Deloitte

Pan American Int’l Insurance Corp.

DGM Financial Group

PwC

E Y Management Ltd.

RBC Royal Bank Barbados Ltd.

First Citizens Bank Barbados Limited

Republic Bank (B’dos) Ltd.

Annual Report 2020

FINANCIAL SERVICES CONT’D

Royal Fidelity Merchant Bank & Trust

Term Finance (Barbados) Ltd.

Sagicor General Insurance Inc.

Topaz Consulting Inc.

Sagicor Life Inc.

Topstar Services SRL

Sentry Insurance Brokers Ltd.

Transforming Business Inc.

Signia Globe Financial Group Inc.

ICT members Cable & Wireless (Barbados) Limited

Productive Business Solutions Tech

Caribyte Inc.

Barbados Ltd.

Digicel (Barbados) Limited

Promotech Inc

JP Marshall Associates Inc

R.L. Mark & Co. Limited.

IBM World Trade Corporation

Vision Systems Software

Northpoint Consulting Inc.

Webstylze Ltd.

International Business members Brookfield International Bank Inc Pencarrek Limited Platinum International Business Solutions Inc St. Michael Trust Corporation

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MANUFACTURING ADM Barbados Mills Limited

Chickmont Foods Limited

Arawak Cement Company Limited

Cot Media Group

Asphalt Processors Inc

Gildan SRL

Banks (Barbados) Breweries Limited

HIPAC Limited

Barbados Bottling Co. Limited

McBride Caribbean Limited

Barbados Dairy Industries Limited

Miller Publishing Co. Limited

Barbados National Oil Co. Limited

Mount Gay Distilleries

Barbados Packaging Industries Limited

Purity Bakeries Limited

Berger Paints Barbados Limited

Structural Systems

BICO Limited

Tropical Battery

BRC West Indies Limited

West Indies Rum Distillery

Carib Supply (Barbados) Inc.

Williams Evergreen

Caribbean Label Crafts Ltd.

Williams Industries Inc.

Caribbean LED Lighting

PROFESSIONAL SERVICES Action Coach Eastern Caribbean/ CILC

Barbados Estate Agents & Valuers

MIAMBS (B’dos Inc)

Association Inc.

ADEB Consultants Limited

BCQS International Limited

Airport Restaurants (1986) Ltd.

Business Continuity Management Services

Alixum International Ltd.

Bynoe Martinez Services Inc.

Altman Real Estate

Calvin Alkins Customs Services

Amron Services Inc

Caribbean Catalyst Inc.

Barbados Conference Services Limited

Caribbeanjobs.com

Annual Report 2020

PROFESSIONAL SERVICES CONT’D

Caribbean Institute of Certified

LCI Consulting Inc.

Management Consultants Barbados

Lex Caribbean

Chapter Inc. (CICMC)

Mahy Ridley Hazzard Engineers Limited.

Caribbean Trade Logistics Advisors Inc.

Massy Shipping Services

Chancery Chambers

Maycock Associates Inc.

Converged Systems and Solutions Ltd.

PBS /Productive Business (B’dos)

Copyright Society of Composers, Authors

Solutions

and Publishers Inc. (COSCAP)

Pee Bee Investments Limited.

Delaney Law (Dentons Delany)

Profiles Caribbean Inc.

DLN Consultants Inc.

Sagicor Cave Hill School of Business &

Ellco Rental Ltd.

Management

Enermax Limited

SBRC Inc.

Eric Hassell & Son Limited

Secure Shred Inc.

Essemm Events & Communications Inc.

Stantec Consulting Caribbean Ltd.

Federal Express Corporation

Steamatic (Barbados) Ltd.

G&A Communications Inc

Terra Caribbean

G4S Secure Solutions (Barbados) Limited

The Business & Employment Centre

GCG Ground Services Barbados

The Coverley Medical Centre Inc.

Gillespie & Steel Associates Ltd.

The Nation Publishing Co. Limited

Goddard Catering Group (Barbados)

TMR Sales & Service

Limited

Tropical Laundries

GOTE Properties Inc.

Tropical Shipping

Harris Holdings Limited

Venezolana de Control Intermodal SRL/

IGT Global Services Ltd.

Veconinter

Interspace Airport Advertising West Indies Ltd. Latitude 13Point 1 Inc. 57

The Barbados Chamber of Commerce and Industry

Tourism & Cultural Industries Atlantis Submarines B’dos Limited Barbados Tourism Investment Inc. Goddard Shipping & Tours Hilton Barbados Resort Sandals Beach Resort & Spa Sandridge Limited

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Annual Report 2020

Barbados Chamber of Commerce & Industry

Annual Report 2020

T: (246) 434-4750 | F: (246) 228-2907 P.O. Box 109B, 2 Braemar Court Deighton Road, St. Michael, BB14017, Barbados W.I. E: bcci@barbadoschamber.com www.barbadoschamberofcommerce.com

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