The Crux of The Bahamas National Trade Policy

The Bahamas Ministry of Economic Affairs Launches First-Ever National Trade Policy

The New Bahamas Trade Policy is intended to lower trade deficit and empower local Bahamian businesses

After years of stakeholder consultation and collaboration with local and international experts, the Government of The Bahamas has launched the National Trade Policy, an initiative that has been spearheaded by the Ministry of Economic Affairs.

The National Trade Policy was formally unveiled at a press conference hosted by the Ministry of Economic Affairs on Thursday, 25th of May, 2023.  At this press conference, members of the media were afforded the opportunity to hear from the Minister of Economic Affairs, Senator, the Hon. Michael Halkitis, Bahamas Trade Commission Chairman, Philip Galanis, and other technical experts who highlighted the work that went into crafting the policy, as well as the impact it is projected to have.

Minister Halkitis stated that the primary objective of the national trade policy is to tap into the unexplored areas for the international trade of goods and services where there is vast potential for Bahamian businesses to benefit.

He noted that this policy will supplement the economic development and diversification initiatives that the Davis administration has taken on since taking office.

“The National Trade Policy is a key component of a wider developmental strategy to diversify the economy, empower Bahamian businesses domestically and internationally, and lower the trade deficit.  Key areas that are being targeted by the government, such as niche agricultural and fisheries products, uniquely Bahamian crafts, food, and goods, and green, blue, and orange economy products and services will all benefit from this policy.”

Acknowledging the calls by local businesses for greater ease in conducting international business and exporting goods and services abroad, Minister Halkitis said that the National Trade Policy will help to facilitate the import and export of in-demand goods and services, ushering in a new era for trade in The Bahamas.

“We know that many businesses have called for the government to reform existing processes to make exporting their products more seamless.  Through this policy, we believe that we have put the right mechanisms in place.  We will expand awareness through stakeholder education to arm local businesses with everything they need to expand their customer base beyond the borders of The Bahamas.”

As the policy moves from the development phase to the implementation phase, Minister Halkitis noted that the government will continue to keep its ears open to local businesses and its eyes open for international opportunities.

“The policy we have before us today is the product of continuous stakeholder engagement.  We have incorporated much of that engagement to ensure that the policy before us today is as strong and comprehensive as possible.  As we implement the policy, the key is to remain agile and open to ways we can continue to strengthen the policy in response to local needs.”

Minister Halkitis encouraged all local businesses and aspiring entrepreneurs who are interested in engaging in international trade to stay tuned as the government continues to engage with the local business community to empower businesses of all sizes to take advantage of the new national trade policy framework.

“Ultimately, the true measure of the effectiveness of this policy lies in its ability to empower Bahamian businesses, lower the trade deficit, and contribute to the creation of a more resilient and diverse economy. We encourage all businesses to get informed and get involved.”

Any business owners who wish to learn more about the National Trade Policy can download a full copy of the policy document at https://moea.gov.bs/the-bahamas-national-trade-policy.

Source 

Crime is rooted like a canker in today’s so-called modern Bahamas

Crime & Social Hypocrisy
The Bahama Journal Editorial


Something insidious has been going on for some time now; with that ‘insidious’ thing being that evolution of a state of mind where so very many Bahamians are wont to complain about crime; all the while turning a blind eye to the kinds of crimes most of them routinely commit and which they routinely get away with.

Here we reference the extent to which stealing by reason of employment; other artful appropriation of things belonging to others and other such slick maneuvers that end with the same result.

And so, today the fact remains that, we now live in a land where while paradox and irony routinely cavort; social hypocrisy abounds.

Here we need only cite some of those ribald instances where thieves would sit around stolen tables and where they would feast on stolen food – and as they sometimes do, these fine people would chat amiably –and sometimes with the greatest of alarm – about the extent to which crime was on the rise in today’s Bahamas.

This kind of scene is both appalling and revelatory – appalling because these types are clearly oblivious to the extent to which their slick crimes against property is itself one of the more common expressions underlying the fact that crime is rooted like a canker in today’s so-called modern Bahamas.

And for sure, not only is crime deeply rooted; there is also a sense we are getting that crimes such as those that involve pilferage and other instances of what we would call exemplars of the ‘soft’ rip-off.

Here we find those instances where employees routinely steal time owed their employers; where these same employees appropriate office property, use them for their own purposes and who do so without permission.

These are all examples of theft done the slick way.

Evidently, these thieves could care less when they learn that, their honest neighbors, family and friends are the ones who will ultimately pay the price for crimes they do not commit.

Here we might cite some of what former Bahamas Chamber of Commerce President Dionisio D'Aguilar has already said about these kinds of criminals and the damage they get away with. Here he notes that, internal theft causes Bahamian businesses mind-boggling losses every year.

Mr. D'Aguilar also said that shrinkage, which includes many items, including spoiled goods, could cost this country's food-stores a combined $15 million a year.

We also understand that, Abaco Markets' president Gavin Watchorn has a similar tale of woe concerning the extent to which his firm has been victimized by the criminals in their Company’s employ.

Watchorn has also been reported as having said that, the level of stealing inflicted on his food-stores - both by staff and customers- had increased by 100 per cent.

This is absolutely disgraceful.

Yet again, we note that, in the end it is the Bahamian consumer who pays for these losses as theft is factored into the price of the goods.

Over the weekend, criminals did what they usually do – they went about their businesses that involve ripping other people off; raping and abusing some others and for sure, either maiming or killing some others.

Sadly, this is par for the course in today’s crime-ridden and sin-sickened Bahamas.

It is precisely this kind of society that has produced the kind of people who struck the Carnival this past weekend.

Here we cite the caper that involved the slickly successful theft of some motor-cycles used at the Carnival site in Oakes Field.

As we have read, “…Under the cover of darkness early last Saturday morning, thieves cut open a three-foot hole in the carnival’s perimeter fence, broke the lock of a trailer and made off with three motorcycles used to perform inside the “Globe of Death”.

“Becky Hitchcock, general manger of the carnival, said a show dog kept within the same trailer as the motorcycles alerted staff to the robbery. However, by the time the staff was alerted, the thieves were gone…”

And so, even as we note that the thieves were gone, note also that the crooks took with them two red and white 100cc Honda motorcycles and one red and white 70cc Honda motorcycle.

While we are today hopeful that the police will get to the bottom of this heist; we are not going to hold our breath as we wait.

But for sure, even as we might cite example after example of the kind of crimes and abuses Bahamians routinely inflict on each other, we do no such thing.

Instead, we call upon each and every Bahamian parent and all others who care for children to teach and show them how they should love and respect all other people; thus putting them on that path that would prevent them from becoming law-breakers, however artful.

January 24, 2011

The Bahama Journal Editorial

Bahamas Blog International