The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

THE Government is proceeding with preparation for World Trade Organisation (WTO) accession “in the normal course”, the Financial Services Minister said yesterday.

“We have been also focused other areas of trade negotiations, so you only have a finite amount of capacity,” said Ryan Pinder. “We have been dealing with a lot of Caricom/Canada trade issues, but we are still advancing the WTO on a pace that is anticipated to conclude some time next year, and hopefully be in a position to accede.

“We won’t do anything in isolation as the ministry responsible for trade. We’re one government and there are a number of reforms underway in the country right now, primarily fiscal reform, and that does have a relation to our process of WTO accession, the reduction in tariff rates, but we won’t do anything out of lock step with the central government’s mandate to reform the fiscal affairs of the country and to allow for greater economic diversity and opportunity for bahamians.”

Mr Pinder added: “We want to do it in a coordinated fashion where you do not misstep and cause inconsistencies in what you’re trying to accomplish for the Bahamian people.

“We will proceed with negotiations, legislative updates in preparing the country and, ultimately, the decision is made when it is made, and that will be made in conjunction with everything else we are doing.”

Mr Pinder said there were no inconsistencies between the Government’s fiscal reform push and its move to WTO accession. “There are no inconsistencies between the two. The VAT projected time-line was July 1, and WTO accession would occur subsequent to that,” he added.

“Whatever date you choose for VAT implementation, if your accession is around the same time or shortly thereafter, I think you’re still consistent with the proper implementation strategy.

“We will continue on preparing the country, both legislatively from an infrastructure point of view with SPA laboratories and some Standards Bureau matters.”