All economic forecasts indicate that the Asia-Pacific region will continue to be a primary locus of world economic growth well into the new millennium, despite past turmoil in its financial markets and the recent downturn in technology sectors and in the global economy.

China alone, with its huge population, enormous resources and still impressive rates of economic growth, is likely to be an economic superpower of note.  Then there are Japan, India, Australia and a number of countries like the Republic of Korea, Malaysia, Thailand and Singapore, all of which have passed or are passing from developing to developed country status.

Given the appropriate strategies, Barbados is well-placed, with its stable political and economic traditions, its highly educated population, and its attractive cultural products, to tap into the markets of the Asia-Pacific region in the interest of continuing to diversify long-term political and economic relationships.

Distance today is not the major obstacle to doing business it once might have been, and the Ministry of Foreign Affairs and Foreign Trade is actively exploring opportunities for investment from the Asia-Pacific region as part of its general strategy of diversifying Barbados' economic relations.  Indeed, the Government is in the process of negotiating investment and tax treaties with the major countries of the region.

Barbados currently has no diplomatic representation in the Asia-Pacific, but it has appointed honorary consuls in Australia, Hong Kong, New Zealand and South Korea.

Barbados' principal relationships within the Asia-Pacific region are with:

Australia

China

India

Japan

South Korea

New Zealand

Singapore