BVI Delegation Visited Business Conferences in Dubai

In March, the British Virgin Islands delegation visited the two conferences in Dubai, with the purpose to discuss potential co-operation in the sphere of financial services, and attract funds and business to the BVI.

The Hedge Funds World Conference at the Jumeirah Beach Hotel in Dubai and the Society of Trust and Estate Practioners' "Opportunities for the Flow of New Wealth Conference" were organized to discuss business and investment possibilities in Dubai, particularly from tax-free Dubai International Financial Center.

Elise Donovan, the Executive Director of the BVI International Finance Center, commented on the events: “We were given a very warm welcome on our return to the United Arab Emirates and it is clear that many investors from across the region recognize the advantages of using BVI structures and services for conducting international business.”

She also said that the British Virgin Islands is an “attractive option to investors from the Gulf States looking to acquire BVI company structures for a multiplicity of investing and other cross-border transactions. BVI’s structures are easy to use, flexible, widely accepted and cost-competitive compared to other products being offered in the region."

British Virgin Islands Joined GLISPA Organization

The British Virgin Islands has officially joined the Global Islands Partnership (GLISPA), with the aim to strengthen the government’s efforts to preserve the natural environment and accelerate the sustainable development of the BVI Territory.

At the GLISPA 2013 steering committee meeting, which took place in February in Washington, DC, and brought together officials from many agencies of the United Nations, as well as non-governmental organizations (NGOs) and governments, GLISPA’s strategic plan for 2013 was discussed, which includes strengthening the link between sustainable development and conservation under the theme Blue/Green Growth; and preparing for the United Nations Third International Conference on Small Island Developing States (SIDS) in 2014.

Deputy premier and minister for natural resources and labour of the British Virgin Islands, Dr Kedrick Pickering, made the announcement during the meeting, speaking on the benefits of GLISPA as a “United Nations recognised partnership and a platform for islands to cooperate on conserving their biodiversity and to promote sustainable development.”

Pickering held individual meetings with representatives of the United Nations Development Programme (UNDP), United Nations Environment Programme (UNEP) and the UN Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS), as well as with Hawaii and Seychelles officials.
Also, at a briefing organized by GLISPA, Pickering made a presentation on the Caribbean Challenge Initiative (CCI).

Commonwealth Workshop Organized for OECS Countries

A workshop for the OECS countries takes place on 4-8 March 2013 in St Lucia, hosted by the Commonwealth Secretariat and the Organisation of Eastern Caribbean States. The activity targets Anguilla, Antigua and Barbuda, the British Virgin Islands, Dominica, Grenada, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines and the OECS Secretariat, and aims to enhance the capacity of the jurisdictions to develop, implement and monitor effective national and regional trade policies and boost participation in regional and international trade negotiations.

The representatives of the countries participating in the training include senior officials responsible for trade policy, statistics and trade negotiations. It is funded by the Commonwealth Secretariat, which is a key development partner of the region.  

Veniana Qalo, economic advisor at the Commonwealth Secretariat, said that during the workshop a Commonwealth guide for small states negotiators is to be presented, highlighting successful approaches that can be used to help these capacity constrained economies to leverage successful outcomes, despite their size.