|
|
|
|
Last Updated: Feb 6, 2017 - 2:32:04 PM |
Bahamas Minister for Financial Services Launches Government’s Value-Added Trade Strategy
By HON. L. RYAN PINDER MINISTER OF FINANCIAL SERVICES
Feb 21, 2013 - 4:30:28 PM
|
Email this article
Mobile friendly page
|
The Hon Ryan Pinder, Minister of Financial Services. Photo: Mackey Media Ltd/ TheBahamasWeekly.com
|
Freeport, Grand Bahama, The Bahamas. The Hon. L. Ryan Pinder has launched the government’s value added strategy while attending The Bahamas International Investment and Business Forum. During the morning session on Regional Integration and Trade: Utilizing Trade Agreements for Market Access, Minister Pinder unveiled the government’s aggressive and groundbreaking strategy to foster economic growth within The Bahamas.
“When the global trends, demand for value-added trade centers and The Bahamas’ trade logistics infrastructure are combined with both the Government’s pro-business WTO-compliant incentive regime and the duty-free quota-free access to markets in Europe and CARIFORUM available to The Bahamas by virtue of its participation in the Economic Partnership Agreement, an almost perfect synergy is created for the business community to take maximum advantage of a value-added trade strategy.” Minister Pinder said while addressing over 250 delegates from international private and government agencies.
A value-added trade strategy is one that seeks to increase the value of a product at each stage of production, such stages which may occur in varying jurisdictions, utilizing both trade in goods and services. It has the potential of leveling our trade balances by simultaneously increasing our export of goods (namely the value-added product) and services (for example distribution, transportation and professional services).
Minister Pinder also outlined how the Government is actively utilizing existing and prospective trade agreements to foster regional integration, developing global business networks and enhancing our trade infrastructure in The Bahamas.
More specifically, Minister Pinder identified the city of Freeport as possessing the necessary international trade logistics infrastructure such as the container port, transshipment terminals, shipyard repair facilities and geographical location at the crossroads of the Americas for the creation of such value- added trade centers.
Minister Pinder reaffirmed the Government’s focus, more specifically the Ministry of Financial Services' mandate, to revitalize the Bahamian economy through its implementation of innovative strategies such as the value-added trade strategy, that looks beyond our local borders, towards our regional and hemispheric partners in particular, in pursuing trade opportunities for economic growth and vibrancy.
© Copyright 2013 by thebahamasweekly.com
Top of Page
|
|
|
|
