Barbados considers trade agreements as vehicles to obtain increased market access for its goods and services, at the multilateral, regional and bilateral levels. To this end, it deems of utmost importance its participation in the WTO and the CARICOM, complementing this with bilateral trade agreements. The Ministry of Foreign Affairs, Foreign Trade and International Business advises the Government on all trade policy matters and has responsibility for negotiating trade agreements and coordinating their implementation.
Through its CARICOM membership, Barbados maintains preferential trade agreements with Colombia, Costa Rica, Cuba, the Dominican Republic, and Venezuela.
Barbados' exports have also benefited from preferential market access under non-reciprocal preferential trade arrangements offered by a number of developed countries.