United States to Barbados Trade Analysis
for Rendition of geophysical or contracting services in connection with the exploration for, or the extraction or development of, natural resources
Detailed tariff information for Rendition of geophysical or contracting services in connection with the exploration for, or the extraction or development of, natural resources imports
Rendition of geophysical or contracting services in connection with the exploration for, or the extraction or development of, natural resources Tariff Rate
A new bilateral agreement between the United States and Barbados facilitates the rendition of geophysical services for natural resource exploration, focusing on offshore oil and gas sectors.
2023-10-15
Impact: This agreement is expected to increase trade in geophysical services under HS Code related to natural resource exploration, fostering collaboration and investment in Barbados’ energy sector.
US Firm Secures Contract for Barbados Offshore Exploration
A leading US-based geophysical services company has been awarded a contract to conduct seismic surveys off the coast of Barbados as part of natural resource development initiatives.
2023-09-22
Impact: This contract is likely to enhance US exports of specialized services and technology for natural resource extraction, strengthening trade ties with Barbados.
Barbados Seeks US Expertise in Natural Gas Development
Barbados has opened tenders for international firms, particularly from the US, to provide contracting services for the exploration and development of potential natural gas reserves.
2023-08-30
Impact: This development could lead to an uptick in US service exports related to natural resource development, benefiting companies in the geophysical and contracting sectors.
Policy Updates
US-Barbados Trade Facilitation for Energy Services
The US and Barbados have updated their trade framework to reduce barriers for geophysical and contracting services related to natural resource exploration, including streamlined licensing and tax incentives.
Date: 2023-10-10
Barbados Revises Offshore Exploration Regulations
Barbados has introduced new regulations to encourage foreign investment in offshore natural resource exploration, offering specific provisions for US firms providing geophysical services.
