Standards and Regulation in Grenada

The World Bank’s Ease of Doing Business ranks Grenada 73 out of 183 countries (2011). This is a relatively high score for a Caribbean country. A high ranking on the index shows that the regulatory environment in the country is conducive to starting and running a business locally. The Grenada Bureau of Standards was established in 1989 by the Standards Act No. 6 and is the key quality and standardisation organisation in the country. The Bureau is a body corporate within the Ministry of Finance, Trade & Industry. GDBS is divided into five divisions: Administration & Finance, Certification, Implementation, Standardization and Materials Testing. GDBS holds membership in the CARICOM Regional Organisation for Standards and Quality (CROSQ). Other regulators include the Grenada International Financial Services Authority, which controls the financial sector; the National Telecommunications Regulatory Commission, which regulates telecoms; and the Eastern Caribbean Regulatory Commission, which is the regulatory body for the securities market.