Export Barbados Building out Life Sciences Sector

Within a few months, there will be a comprehensive strategic plan for life sciences, which Chairman of Export Barbados, Adrian Padmore, explained will provide a roadmap for the sector’s development and exploitation of Barbados’ potential in the industry.

He disclosed this while delivering opening remarks for the panel discussion on ‘Health Care and Life Sciences – Collective Health Security through Pooled Procurement, Shared Intelligence, and Response’ during the recently held AfriCaribbean Trade and Investment Forum 2022, dubbed ACTIF2022, at the Lloyd Erskine Sandiford Centre.

With this strategic plan, the Chairman said, Export Barbados will build on the foundation in the sector, which features several entities, including pharmaceutical and intraocular lens manufacturing companies and international medical schools.

“Efforts are currently underway to build relationships with Rwanda, Cuba, and Switzerland to accelerate our learnings as we build the life sciences industry in Barbados. Our international food science center is soon to be launched and will increase the country’s capacity to deliver life science products at international standards. So while in the early stages, our strategy is very much outward facing and we’re looking for you to join us in this endeavor. The world class medical innovations arising from the likes of Cuba and South Africa show the potential our regions hold,” he said, highlighting the need for Africa and the Caribbean to leverage their human, natural, intellectual and financial resources for mutual gain.

He noted that by 2023, the global life sciences industry is expected to reach over US$2 trillion in gross value. Barbados is ready to be a part of it, but, he said, building out this industry is not just an economic effort to develop larger, more diversified economies.

He noted that by 2023, the global life sciences industry is expected to reach over US$2 trillion in gross value. Barbados is ready to be a part of it, but, he said, building out this industry is not just an economic effort to develop larger, more diversified economies.

Beyond this, we’re also driven by social necessity to ensure our healthcare systems, infrastructure and people are resilient. Now more than ever we must rely on our respective expertise, resources and skills across both the African Union and the Caribbean. We have seen the successes of pooled procurement, shared intelligence and a unified response with the African Vaccine Acquisition Trust… to secure life-saving vaccines for both the African Union and the Caribbean at the height of the pandemic. So we are as the saying goes, stronger in numbers,” Mr. Padmore affirmed.

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