The Tribune

EMPHASISING the government’s commitment to local manufacturers, Minister of Financial Services Ryan Pinder said their interests would be protected in any trade negotiations going forward.

Meeting with members of the Light Manufacturers’ Association, 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.”

As the discussion turned to the Bahamas’ accession to the World Trade Organisation (WTO) and Economic Partnership Agreement (EPA), Pinder highlighted the opportunities that exist for Bahamian industries to expand beyond the 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.

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

He also discussed creative industries, noting three fundamentals that are required to ensure the such businesses are economically viable.

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