Sinckler welcomes UAE idea

Minister of Finance Chris Sinckler fully supports the idea of a United Arab Emirates (UAE) proposal by Minister of Agriculture Dr David Estwick to help grow the Barbados economy.

However, he agreed it would have to be “explored” to find out whether it was feasible.

Following a recent trip to the Middle East, Dr  Estwick spoke of having discussions with the Arabs about having the Caribbean become the new “bread basket” for the entire Gulf region, with Barbados serving as a transshipment hub, a trade hub and a tourism hub and capitalizing on its easterly location.

Sinckler told Barbados TODAY while he was not yet aware of the details of the discussion between Dr Estwick and the Arabs, he welcomed any opportunity that provided for the island to expand its economy and create jobs.

He said Dr Estwick’s full report was scheduled to go to Cabinet soon.

“When it is fully presented to Cabinet then we will discuss it. But we are keen to explore all and any opportunities that present themselves to Barbados to be able to earn foreign exchange, to be able to create economic activities, to grow jobs and to do things that would redound to the benefit of Barbadians,” said Sinckler.

“So to the extend that that is the case then yes, we will fully flesh out and discuss it once Dr Estwick has an opportunity to present the full findings and discussions from the trip that he took to the UAE . . . but of course it has our full support in terms of our effort to broaden the scope of what we are doing,” he added.

Dr Estwick did not say what his new proposal would amount to in financial terms. However, he said he was confident it
was the strategy that would “move the island forward by leaps and bounds”.

The first UAE proposal he put on the table was back in January 2014, when he had written to Prime Minister Freundel Stuart appealing to him to take up an offer from the oil-rich nation to restore Barbados’ economic growth.

The offer included a US$4 billion fund with negotiable terms of a fixed interest rate of two to four per cent over a 30-year period. However, that plan never materialized.

6 Responses to Sinckler welcomes UAE idea

  1. Stanton Peace
    Stanton Peace May 10, 2016 at 7:22 am

    he said the same thing the last time and still ignored Dr. Estwick.

  2. BaJan boy May 10, 2016 at 7:46 am

    He will never know the details since he and Estwick don’t ever speak to each other. Estwick would like to implement it as Minister Agriculture and show up how dumb he knows Chris is as a finance Minister. Chris would never allow this happen and so Estwick will never disclose and the people suffer for their ignorance..poor Freundel would only sit back do nothing and accept what ever they do since he has no guts nor power. He has to go along with all of them say and do. He is intimidating bajans bout corruption in his corrupt Government and cursin bajans from DLP party meetings.’Just remember a theif ain’t a theif till he get ketch’.

    • Donild Trimp May 10, 2016 at 4:55 pm

      “Estwick would like to implement it as Minister Agriculture ———- Chris would never allow this happen and so Estwick will never disclose and the people suffer ——– poor Freundel would only sit back do nothing and accept what ever they do since he has no guts nor power”.

      Utter nonsense from Bajan Boy.

      Would you allow implementation of if the person whose port folio it falls under refuses to disclose what the policy is?

      Banana Republic mentality.

  3. Lawrence Griffith
    Lawrence Griffith May 10, 2016 at 9:03 am

    The Arab nations oil isn’t going to be their economic backbone so they’re looking to capitalize on poorer countries financial. Look carefully and see what’s on the table at the bottom of the article.
    Remember they aren’t looking at helping Barbados but their self.
    This deal is not going to be beneficial to the taxpayers but indebte them.

  4. maxjustina May 10, 2016 at 9:11 am

    I am beginning to feel a bit uneasy!!! Has others in the West been approached as well? If so, how did they respond?

  5. maxjustina May 10, 2016 at 9:20 am

    CORRECTION: “Have others in the West…” I was trying so much to choose my words carefully but had been too quick to click on the “Post Comment” prompt.


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