Ministry of International Trade officials represent Federation at joint CARIFORUM – EU Ministerial Meeting in Barbados

Source: SKNVibes

Minister of International Trade et al., the Right Honourable Dr. Denzil Douglas along with Permanent Secretary Jasemin Weekes traversed to Barbados for the October 11 to 12, 2022 Joint CARIFORUM – EU Ministerial Meeting.In his remarks at the meeting, Minister Douglas stated that the subject of de-risking policies on global banks continues to be a threat to the region’s economies and called for timely solutions.

“For small open economies such as ours where international transaction flows play a critical role in our economic development, a complete closure or near closure to the international financial payment system would have crippling effects on our economies,” he said. “…I trust that as we can uncover timely solutions as we collaborate on issues of mutual interest. We look forward to some balance between these regulatory de-risking regimes and the ability of our customers to conduct their businesses in a more seamless way.

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