By Caribbean News Global contributor
TORTOLA, BVI – British Virgin Islands (BVI) deputy premier and minister for financial services, labour, and trade, Lorna Smith, OBE, will lead a 13-member delegation on a trade mission to Asia, one of the BVI’s most important business markets. The delegation will also be joined by industry counterparts from Asia.
“The BVI stands at the forefront of international corporate structuring for cross-border transactions and investment worldwide and is a go-to hub for Asian businesses. More than 60 percent of government revenues come from financial services, and since the establishment of the BVI business company four decades ago, over one million companies have been incorporated, with 57 percent originating from Asia,” Department of Information and Public Relations (GIS), reports.
The mission, taking place from 20 – 30th May 2024, aims to bolster the BVI’s position as a leading partner for facilitating cross-border trade and business in Asia.
Sponsored by BVI finance and its members, and supported by the BVI Hong Kong office, the mission gathers senior government officials and private sector leaders from the financial services industry.
“They will meet with counterparts in Hong Kong, Shenzhen, Beijing, Shanghai, and Singapore to discuss the critical issues and innovative strategies shaping the future of financial services, both in the BVI and across the Asian market,” said, the government of the BVI.
The theme ‘Advancing Cross-Border Trade and Innovation’ will be explored through a series of roadshows, meetings and receptions. The agenda includes several high-level meetings, including with the Hong Kong government’s financial secretary, the British ambassador to China, the Hong Kong Monetary Authority, and the Monetary Authority of Singapore.
Commenting on the trade mission, deputy premier Smith, said:
“We are delighted to return to Asia with another delegation from the BVI, and we’re grateful to the private sector for their sponsorship and investment in resources to join our mission. The BVI is Asia’s conduit to facilitate cross-border trade and investment, and for more than 30 years we have enjoyed a friendship with the region. The BVI’s attributes, such as a familiar legal system based on English common law and internationally compliant regulations, and our reputation for cutting edge financial services product design and agility, have ensured that we have remained a premier destination for business and investment across Asia. We are proud to be its international partner of choice.”
Elise Donovan, chief executive officer of BVI Finance, said:
“BVI Finance is proud to play such a significant role in the Asia Trade Mission, bringing together the private sector to contribute expertise and insights that resonate with the Asian financial community. We will look to showcase BVI’s strengths and competitiveness, and reinforce our commitment to facilitating global growth, providing innovative corporate solutions, and remaining at the forefront of developing trends across the world. This has enabled the BVI to support the region’s growth over the last three decades. We look forward to further developing relationships and partnerships with the business community during this mission.”
Dr Ricardo Wheatley, director of BVI Hong Kong office, said:
“The BVI’s government representative office in Hong Kong is pleased to facilitate BVI’s Asia Trade Mission & Road Show in partnership with BVI finance and the ministry of financial services, labour and trade. The mission serves the dual purpose of reaffirming BVI’s commitment to Asia-Pacific markets and reinforcing our message to industry stakeholders in the region that the British Virgin Islands remains the premier financial jurisdiction for servicing their offshore needs.”
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