Export Barbados, GUTA celebrate partnership to explore trading opportunities

A worthy trade relationship between Export Barbados (BIDC) and Ghana Union of Traders Association (GUTA) was celebrated at a cocktail event at Kempinski Gold Coast Hotel, Accra last Thursday, May 19th, 2022”

Addressing the press and invited guests, the CEO of GUTA, Dr. Joseph Obeng noted that the mission for the partnership between the two countries is to bridge the trading community in both countries to aid each other in exploring opportunities.

This means that “Export Barbados will bring in trade facilitation in the form of B2B engagements; organization of exhibitions and trade fairs; establishment of electronic trading platforms, where we can interact with our counterparts in Barbados; and also, exchange of investment related information and provide legal maritime and aviation advisory services to Export Barbados,” Dr. Joseph Obeng detailed.

He further stated that on the part of Export Barbados, “GUTA would be advised on the best flights and investment laws and as well aid us in transacting business with not just Barbados, but as well lead us to trading communities in other Caribbean countries.”



GUTA, in August 2022 will be going to Barbados to sign and receive Export Barbados’ MoU to show its commitment to this positive partnership. “This will aid us to explore and identify the business opportunities for both parties in order to enhance trading markets and as well boost the economic development of both counties,” he added.



The partnership between the two countries, according to Dr. Obeng will aid GUTA flagship programme called the ‘income-in, income-out’ where made in Ghana, and made in Barbados goods would be identified and lead to the right markets to suit the demands in both countries. “This trading sizzling will enhance the abundance of forex in both countries,” he stated.



Taking his turn, the CEO of Export Barbados, Mr. Mark Hill said, “we are honored to get into this partnership with GUTA and we look forward building businesses and strategies that generates double-to-triple digits for both countries.”



The first success story of this partnership between Export Barbados and GUTA tells of a signed agreement between one of GUTA’s distributors and Barbados Rum Distillery. With the maiden shipment already on its way to Ghana, a shop is being set up at Osu. The distributor would be the sole distributer of Barbados rum products in Ghana.



The mandate of Export Barbados (BIDC) is to support creating products and services for export to help fortify Barbados' economy. BIDC have carved out new strategic paths in areas with growing global market demand, including the Fintech industry, the Ocean Economy, the Design economy, and the Bio-economy.

Ghana Union of Traders Association (GUTA) is the umbrella body that regulates the activities of trades in Ghana. It also lobbies the Government of Ghana on issues that affect traders in the country.