Chamber of Commerce president, Khaalis Rolle, warns that the Bahamas will be unable to operate “at our collective minimum standards” once it advances to full membership in the World Trade Organisation (WTO).
Rolle told the Tribune newspaper that this was a “major milestone” that would ultimately require protectionist beliefs to be abandoned and an overhaul of the country’s tax system.
In an article by Neil Hartnell, the newspaper reports that Rolle described full WTO membership, and the process to achieve this, as “a significant shift in the economic landscape of the Bahamas”.
The Chamber president said the private sector and individual entrepreneurs would be required to ‘play by the rules’ during all trade and economic activity, with a major shift in culture and behaviour also required.
