“By your great wisdom and by your trade your power is increased, and your heart is lifted up because of your power.”
– Ezekiel 28:5
Back in 1959, Singapore was little more than a modest fishing village grappling with socio-political instability and the looming threat of communism. By the time it gained independence in 1965, its economic prospects were dim.
Barbados, in contrast, gained its independence in 1966 and was, at that point, a more advanced economy than Singapore. Yet, since then, Singapore has emerged to become one of the world’s most efficient trading and transshipment hubs, while Barbados has remained largely dependent on tourism and financial services.
Singapore’s rise as a maritime and logistics juggernaut was no accident. Its leaders capitalised on the country’s strategic location, positioned between the Pacific and Indian Oceans and at the heart of Southeast Asia.
Today, the Port of Singapore ranks among the busiest and most technologically advanced in the world. Within a 12-hour flying radius of major global markets across Asia, the Middle East, Africa and Australasia, Singapore leveraged its geographical advantage to create unmatched trade connectivity.
Barbados has the vision — What are the next steps?
Barbados, too, benefits from a strategic location — situated in the Atlantic with proximity to North, South and Central America, as well as Western Europe and Africa. The vision to become a key trading and transshipment hub is already articulated. The question remains: How can this vision be realised?
1. Modernise and expand port infrastructure
Barbados must upgrade its port facilities, beginning with deepwater docks capable of accommodating large cargo vessels. Advanced gantry cranes and container-handling systems are essential. Investment in port automation, digital customs processes, and integrated logistics systems would further enhance efficiency.
2. Enhance air and sea connectivity
Air and sea connectivity should serve as dual engines for growth. Much like Singapore’s Changi Airport complements its port operations, Barbados needs to develop Grantley Adams International Airport and the Port of Bridgetown. Together, these hubs can form the foundation for a logistics ecosystem, supporting seamless cargo and passenger movement across regions.
3. Foster a business-friendly policy environment
Barbados must create a policy framework that encourages logistics firms to invest and operate locally. This includes streamlining customs regulations, offering attractive incentives, and establishing a special economic zone or freeport to stimulate global interest.
4. Prioritise digitisation, innovation and skills development
Singapore’s success also stems from investing in its skilled workforce and innovation ecosystem. Barbados must invest in similar initiatives. Digital infrastructure, including reliable broadband and cybersecurity frameworks, is essential. Additionally, fostering research, continuous learning, and maritime innovation can prepare Barbados to compete in the 21st-century trade landscape.
5. Commit to political will and visionary leadership
Transformational change requires unwavering political will and forward-thinking leadership. Singapore’s success was built on consistent long-term planning and disciplined execution. For Barbados to achieve a similar transformation, we must look beyond election cycles and foster public-private partnerships that can sustain and drive structural change.
A future built on ambition
The question is not whether Barbados can become a trading and transshipment hub, but whether we summon the ambition, strategy and discipline to make it happen. Barbados possesses many of the essential ingredients: geographic location, democratic stability, and strong regional and global relationships.
Yet, as Singapore has shown, vision is only the beginning. Relentless execution and strategic planning are what transform a nation.
It’s time to start the conversation. Let us plant the seeds today for a globally competitive Barbados tomorrow.
Dr Basil Springer GCM is a corporate governance adviser. His email address is basilgf@marketplaceexcellence.com. His columns may be found at https://www.nothingbeatsbusiness.com.
The post Barbados as a major trading and transshipment hub? appeared first on Barbados Today.