Barbados seeking alternative supply chains, says Symmonds
AS TENSIONS ESCALATE in the Middle East following a United States military strike on Iran, Minister of Foreign Affairs Kerrie Symmonds is urging Barbadians to prepare for possible economic fallout, including increases in the cost of living and disruptions to supply chains.
In an interview with the DAILY NATION, he stressed that the current conflict threatens to push the region into full-scale war, with consequences that could ripple across the globe and significantly impact small island developing states like Barbados.
“If Iran decides to retaliate, we have a war on our hands,” Symmonds warned. “There are obvious consequences for that in terms of the use of the Strait of Hormuz – the passage of oil shipments and other cargo that we in this part of the world depend on. The implications for the cost of living can be severe.”
Forecasting
He pointed out that Prime Minister Mia Amor Mottley had, as early as last September during her address to the United Nations General Assembly, highlighted the growing number of flashpoints in the Middle East and warned of a worsening global climate unless there was a conscious effort to de-escalate conflicts.
“It is almost as though we were forecasting events to come,” Symmonds said. “The situation has indeed deteriorated.”
To mitigate potential food and fuel price shocks, Government is taking steps to secure alternative sources of key imports. The senior minister revealed that he will be travelling to Brazil this week along with representatives from three ministries and the private sector to hold talks with officials in the state of Roraima. The discussions will focus on strengthening food and nutritional security through new import arrangements.
“Barbados recognises that as much as we may wish it, the world is not what we want it to be. It is what it is and we have
to do what is necessary in the interest of the people. That includes pursuing new avenues for food importation, which is why the trip to Brazil is so important.”
In addition, Government is intensifying its collaboration with Guyana, seen as the breadbasket of the Caribbean.
Partnerships
“Its potential must now reach the fullest level of delivery,” Symmonds said, adding that strategic partnerships within the region will be critical to Barbados’ resilience in the face of global shocks.
He also expressed concern over what he described as an increasing departure from multilateralism in the handling of international disputes. Referring to the recent strike on Iran, he said: “We believe that the multilateral system, the United Nations framework, was set up for a purpose. That is where we should now turn.”
He criticised unilateral military action and coalitions formed outside global consensus.
“These are not the most desirable ways of conducting global affairs,” he said.
Prudent
In response to questions about how Barbadians can prepare at a personal level, Symmonds was measured.
“I can’t say that there’s anything specific to do just yet because we have not seen the consequences arrive at our doorstep. But just like you start thinking of closing your window when rain is on the horizon, we must be prudent.”
He advised citizens to stay informed and understand that events thousands of miles away can eventually affect life in Barbados.
“It may not be tomorrow or next month, but the knock-on effects of global conflict always find a way to reach us.” (CLM)
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