Newly-elected President of The Bahamas Chamber of Commerce, Winston Rolle said the chamber is also challenged to a greater mandate, which extends beyond its members as the entire business community is facing national change and uncertainty with regards to the Free Trade Agreement of the Americas (FTAA), the World Trade Organisation (WTO), and the Caribbean Single Market and Economy (CSME).
He said while the tourism and financial services sectors represent the largest contributor to the economic activity, they do not represent the largest amount of Bahamian-owned firms, which are believed to be in the distributive and professional services.
“We will be working hard to encourage these sectors to begin a study of their competitiveness,” said Mr. Rolle
“Many believe that today, what has become commonly known as the forces of globalisation are leading us into such a period for business,” he said.
Adding that it also recognizes the desire for many nations to create a more liberalised trade climate.
However, as indicated at the meeting of the Summit of the Americas in 1994, a regional debate, that would require The Bahamas and its business community be heard, is imperative.
“The chamber in response to this, formed the Private Sector Task Force on Trade Liberalisation to serve the entire business community regardless of membership in the chamber. While the members of the task force have been working for nearly five years, only in the past few months has the work of the Task Force become more public,” said Mr. Rolle.
“With the release of the initial drafts of the report done by the Hamilton group assessing the state of readiness of businesses in The Bahamas, the task force was successful at increasing the level of dialogue in the Business Sector. However, we are extremely gratified when that dialogue leads to action. To this end, we would like to commend those business sectors who have moved from dialogue to actual studies of their individual sectors,” he said.
Mr. Rolle also commended the tourism sector for their work, in particular Chairman of the Tourism Task Force on Trade Liberalisation, J. Barrie Farrington, who, along with other chamber members last year, travelled to the Americas Business Forum in Quito, Ecuador, and pledged to encourage the tourism sector to better understand the potential impact of trade liberalisation.
The chamber, he said, is pleased that the tourism sector quickly recognized that the more pertinent question to be addressed is the competitiveness of The Bahamas tourism sector and the elements that effect it, as opposed to the effects of the FTAA, WTO and the CSME.
“A competitive tourism sector with the right supporting climate will thrive during times of change or stability,” said Mr. Rolle.
“We again thank the Tourism Task Force on Trade Liberalisation for their work and we pledge the chambers’ support in facilitating the dissemination of the report to the public and private sectors. We also intend to encourage beneficial dialogue with all public and private sector constituents of the tourism industry with a view to taking steps immediately to improve the competitiveness of our tourism sector and its facilitating climate” said Mr. Rolle.
By Vanessa C. Rolle, The Nassau Guardian
