“Failure to transition can cost you your existence,” this is the word coming from Ambassador Dr.
Andre Thomas during the opening ceremony of the Upturn Funds Caribbean Investment
Summit’s Opening Ceremony held at the Hilton Barbados.

He emphasized, “these transitions do not ask us if we are ready for them, they do not consult
with us, they just happen. So significant economic transition is happening. When we look at the
Caribbean we realise one of our major economic pillars is tourism and it is clear how susceptible
it is in our current world and in our current world with climate change and due political conflicts
and the integration of the world in which a crisis in one country in Asia or Europe for example
can trigger a train reaction around the world that can affect people’s inclination to travel and our
world is not as stable as it was before. So then travel is affected. Just like cities around the world
evolve economically we must evolve in different areas.”

Dr. Thomas gave further key financial insight when he said, “in new economic realities money
flies from one sector to the other. Evolution in economic models is a reality and they discern
when seasons change and those who do that lead the next wave.”

Nearshoring the Way To Economic Growth

Nearshoring is our key to mutual success and prosperity. It has the potential to jumpstart a new
era and lead to a brighter future for all of us.
This is the emphatic statement from featured speaker of the US House of Representatives,
Congressman Mark Green, M.D., co-author and sponsor of the Bipartisan Western Hemisphere
Nearshoring Act during day one of the Upturn Funds Caribbean Investment Summit’s Opening
Ceremony and Summit Sessions at the Hilton Barbados Resort earlier today.
Congressman Green said, “Nearshoring can be described as basically bringing jobs and industry
back to our hemisphere particularly manufacturing from China.”
He stated, “according to the Inter-America Development Bank (IDB), nearshoring can add an
annual 78 billion dollars in additional exports of goods and services in Latin America and The
Caribbean. A huge influx of capital from nearshoring would mean massive growth if
concentrated in countries like Barbados.”
He added, “the IDB recommends executing this using the three I’s strategy, investment,
infrastructure and immigration.”
As a ranking member of the US House of Representative, western hemisphere, subcommittee to
the foreign Affairs committee, it is my mission to reorient US foreign policies towards Latin
America and the Caribbean and reverse some of the the damage. This starts with bolstering our

diplomatic ties, our relationships, friendships, security ties and economic ties. We have to bolster
our relationships. We need relationships, connection and reestablishing that is important.”
“Nearshoring holds the promise to lay the foundation for a new era and partnership and friendly
relations between the US and the Caribbean and with this legislation we can foster stronger
commercial ties while enabling the dynamic development to diverse industrial economies and
raising the standard of living for people for people living in poverty which would lead to less
migration and refugees.”