St. Vincent and the Grenadines was represented at the first UAE-Caribbean Cooperation Forum held in Dubai from November 24-26, 2018.
The forum which was attended by other CARICOM countries and the Dominican Republic was fully sponsored by the Government of the United Arab Emirates (UAE) and explored the economic potential of future ties between the UAE and the Caribbean.
It also provided an opportunity for senior business representatives and other high profile delegates to identify emerging drivers for effective partnerships that will yield mutual benefits between the UAE and the Caribbean.
The Vincentian delegation was headed by Deputy Prime Minister and Minister of Foreign Affairs, Trade and Commerce-Sir Louis Straker and included Minister of Finance, Economic Planning, Sustainable Development and Information and Technology-Camillio Gonsalves, Minister of tourism Sports and Culture-Cecil Mckie and several other individuals.
Notably the visit facilitated the signing of three important agreements: one between the governments of St. Vincent and the Grenadines and the United Arab Emirates for the Reciprocal Promotion and Protection of Investments; an agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital; and a participation contract of EXPO Dubai 2020 between the UAE and St. Vincent and the Grenadines.
These agreements coupled with the recently concluded visa waiver agreement that was signed in May of this year provide the mechanism for St. Vincent and the Grenadines to explore and develop initiatives and partnerships with businesses, the tourism and creative industries.