As debate over trade liberalisation and creation of a single trading bloc in the Western Hemisphere continues, an advance CARICOM Sector Mission contingent arrived here Monday to meet with representatives of private sector organisations.
Minister of Foreign Affairs and the Public Service Minister Fred Mitchell said yesterday at a press conference that the three-day parley will start on Wednesday at the Nassau Beach Hotel.
The group, accompanied by a team of CARICOM Secretariat staff members, will include six industry leaders from sectors such as banking and financial services, retail and distributive trades, tourism, manufacturing and small business.
During the course of the meetings, Mr. Mitchell will address a luncheon at Buena Vista Restaurant. A meeting will also be held with private sector representatives, at the College of The Bahamas, in addition to discussions with representatives of the Bahamas Trade Commission and Financial Services sector.
Mr. Mitchell said that both his ministry and the CARICOM Secretariat had been collaborating on the meeting with the Chamber of Commerce, which, this week, is also launching its 33rd Annual Chamber of Commerce Week.
The Bahamas should benefit from the talks, Mr. Mitchell said, as, “By increasing trade opportunities we can increase the wealth of the country, the economic opportunities and the quality of life for our country.
“We are not just looking at just where the Bahamas is positioned today because, of course, the model which we have today has served us well. The question is, as the world changes, where is The Bahamas going to be positioned 10 years from now. Given the way economies work, you have to start planning for where you want to be 10 years from now. You have to start putting in place those things today,” he said.
According to Prime Minister Perry Christie, the government will make a definitive decision later this year with respect to formal membership in the Caribbean Single Market and Economy.
Chamber of Commerce second Vice-president, Keith Glinton, said the local business sector should be encouraged by the arrival of the members of the private sector mission.
He said that the Chamber, realising some time ago that it would have to make certain decisions on trade liberalisation, began the process of seeking to develop a greater understanding in the private sector of the potential changes in trade relations with Caribbean and other countries in the hemisphere, and the world.
“This particular mission is very important,” Mr. Glinton said. “It gives our business sector representatives an opportunity to speak with some of their counterparts in the Caribbean, and I think it is an opportunity that we hope every business person will avail themselves of.
“I really encourage you as the business sector to take advantage of this opportunity to make yourselves more aware of what is the position of others on trade liberalisation and also to share with others your position on trade liberalisation.
“The private business sector is going to be the significant sector that will be impacted by, and we hope, will drive the decisions that we make in trade liberalisation. If that is the case we need the private sector to become more active,” he said.
Recently, Mr. Glinton continued, the Chamber has been increasing its participation in regional and hemispheric private sector meetings to discuss the issues of trade liberalisation. Last year, six local business representatives attended the Quito Americas Business Forum meetings, he advised.
But more importantly, he said, on a day-to-day basis, the Chamber has been retooling itself to provide better service to the business community in such matters.
To this end, he said, the Chamber has appointed a new Executive Director who spends much of his time in meetings with other private sector representatives throughout the Caribbean, to continue the process of developing local private sector resources to reap the benefits of trade liberalisation.
Mr. Mitchell said also that an invitation had been extended to the Prime Minister of Barbados – whoever that might be after scheduled May 21 elections, to visit The Bahamas to speak on free trade matters.
By Keva Lightbourne, The Nassau Guardian
