Barbados to enter double taxation agreement with Kenya

Barbados is looking to enter into a double taxation agreement and a bilateral investment treaty with Kenya.

Barbados Prime Minister Mia Mottley shared this information with people from a cross section of the private sector on Thursday, telling them the intention was to create a framework that would “spark their interest” in forging business partnerships with the East African country.

Mottley addressed the business leaders along with Kenyan President Uhuru Kenyatta after both leaders held discussions on areas of mutual interest. Kenyatta is in Barbados on a 3-day official visit designed to strengthen bilateral relations between the 2 countries.

Kenyatta has invited Barbadian investors to set shop in Kenya saying his administration has created an enabling environment for both foreign and local businesses to thrive.

Kenyatta said that his administration has put in place mechanisms such as protection of investment legislation and other instruments that facilitate an enabling business environment. The Head of State added that Kenya is a signatory to a number of treaties in the region that make it a gateway not only to the east African market but also to the rest of Africa.

“Kenya is an entry point into the African market and if your businesses come to Kenya, they will get access to an African population of 1.2 billion,” Kenyatta assured the Barbadian business community.

“Kenya is a member of the East African Community, Common Market for Eastern and Southern Africa (COMESA) and has ratified the African Continental Free Trade Area (ACFTA),” he added.