The Tribune

The Minister of Financial Services met with the Light Manufacturers’ Association at its general meeting last week to address concerns surrounding tax reform and World Trade Organisation (WTO) accession.

Addressing the group of businessmen, Mr Pinder said: “The Government of the Bahamas remains committed to manufacturers. We proved that coming into office with the amendment to the Industries Encouragement Act and Tariff Act, which I know fundamentally helped many of the businesses represented here today.”

Focusing on the Bahamas’ accession to the WTO and Economic Partnership Agreement (EPA), Mr Pinder said opportunities exist for Bahamian industries to expand beyond their local market.

“I have a firm belief that we must protect our domestic industries in the context of our negotiations ,and there are business development opportunities for regional trade as well as continental trade,” he added.

“And I believe we have the opportunity to do so through a value-added trade strategy. This is much different than our regional competitors, and will set us apart.”

On the creative industries, Mr Pinder said three fundamentals were required to ensure the sector is economically viable.

“First, we have to implement legislation that incentivises artisans,” he said.

“Artisans need to have incentives and to be protected. Secondly, artisans need to be linked with the buying community. This is why we are hosting events like= Design Caribbean, which will be hosted this year in Grand Bahama, to link Bahamian artisans to international buyers.

“Finally, to ensure the industry is able to meet the international demand, we must look into the creation of a Creative Industries’ Industrial Park.”

Mr Pinder reaffirmed the Government’s commitment to the promotion of Bahamian entrepreneurship and industries.

“It’s not what we do; it’s about what we can do,” said Mr Pinder, as he encouraged the businessmen present to take advantage of opportunities to expand their goods and services beyond the Bahamian market.