Recognizing a need for more influence over the outcome and impact a Free Trade Area of the Americas (FTAA) agreement will have on The Bahamas, executive director, Philip Simon said that in 2004 the Bahamas Chamber of Commerce will assume a more dominant role in negotiating the country’s position in that impending initiative.
Speaking with the Guardian recently, Mr. Simon said with just one year left for determining the country’s position, the Chamber really intends to exert its influence on matters that are being negotiated on behalf of the country. “Going into the last year of negotiations for FTAA, we really intend to be more a part of the process than we were in the past, really seeking to influence what is being negotiated on our behalf,” he said.
Direct the government
Mr. Simon further stated that the Chamber of Commerce’s objective, in representing private sector organisations, goes beyond simply providing advice on general matters relating to the FTAA process. “We don’t just want to advise the government, we want to be able to direct it,” Mr. Simon said.
With a proposed deadline of Dec. 31 2004 for the conclusion of FTAA negotiations and the achievement of an area of free trade and regional integration for the Americas, Mr. Simon recognizes this period as the most important period for all countries involved in the process, including The Bahamas.
“This is the period now in the negotiations where the text [of an agreement] is being finalized,” he said. “This is the nitty gritty of the negotiation process… [and] even though some changes have been made in the general framework of the FTAA, what is being negotiated is still significant. We really want to affect that.”
After returning from the eighth annual Americas Business Forum, which was held simultaneously with the FTAA Ministerial Meeting in Miami, Florida in November, Mr. Simon along with other Chamber of Commerce officials who represented The Bahamas stated that based on their observations of other countries in the region, The Bahamas was behind in the FTAA negotiation process. A fact they attributed to a lack of collaboration between the public and private sectors in presenting the country’s position.
In addition to plans for increased participation in pending trade negotiations, Mr. Simon also announced that the Chamber plans increased educational efforts for its members on matters relating to trade and globalisation.
“We will be enhancing and increasing our presence in the community in efforts related to educating business on the implications of a more globalize economy,” he said.
Mr. Simon said the phenomenon of globalisation is here and for many local businesses, this may mean re-evaluating the way some people conduct business. “You may have to look externally in order to experience internal growth.”
High occupancy
Giving a general overview of the Bahamian economy for 2003, Mr. Simon revealed that overall the country has experienced some growth, most notably in the final months of the year. This growth he explained was led by increased tourist arrivals, which has translated into higher occupancy levels for many hotels.
He noted with some emphases that given the tensions still being experienced internationally, tensions that recently prompted a rising of the United States national terrorist alert to orange or “high risk”, the fact that The Bahamas is still getting a steady stream of visitors demonstrates the level of confidence travelers have in coming to The Bahamas. He added that our location; our proximity the U.S. a major market also helps.
The Chamber of Commerce, which has existed in The Bahamas in one form or another since 1797 is predicting an exciting year for 2004. A very youthful and confident executive director, Mr. Simon intimates that the Chamber intends to institute a number of new programmes and initiatives that were worked on in 2003. Among the new programmes the organisation has planned are: a totally revamped website, a monthly newsletter, a business plan review service and a business mentoring programme.
Expanding on the mentoring programme, Mr. Simon said it will be based on an attempt to bring together experienced businesspersons and owners of businesses that are in the growth stages, and who are prepared to share their experience on a volunteer basis.
Mr. Simon said the idea behind these new initiatives is the organisation’s desire to provide programmes that bring “more tangible benefits to our members.”
By Martella Matthews, The Nassau Guardian
