The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Bahamas must maximse the economic returns from its key industries, the Prime Minister emphasised, revealing that one food processor is working on growing lobsters.

Mr Christie, who was speaking at the launch of the Trade Information Services Portal, said the Bahamas could earn more from its fisheries and marine resources industries, one of this nation’s few exporters.

He added that the Bahamas exports between $55-$80 million worth of lobster annually, and said: “When you examine that industry you see the challenges that are now developing, which place that industry in a very challenging position.

“We are exporting to the United States of America, we are exporting to Europe and we are researching exporting to the Far East.”

Mr Christie added: “Tropic Seafood is engaged in major research in our country where they are trying to grow lobsters, and they are experimenting on exporting by air lobsters to see how many survive because they know that the world is changing rapidly, and that if we are going to compete we have to be ready for it.”

Mr Christie reiterated that the Bahamas “must protect our waters”, and “we can get much more from them”. He added that the acquisition of new Defence Force vessels has been credited with bringing about a very good 2016/2017 crawfish season.

Speaking to the tourism sector, Mr Christie said: “In tourism we have not maximised on our proximity to the United States of America, [yet] we are the closest country to the United States.

“We have to understand that tourism is an industry that we can get much more out of, and we have to find ways to do so. We have to find a way to get our revenue connected to the people who are here to help the country earn more revenue from it.”

Mr Christie stressed the need for economic diversification, noting that the financial services sector is “under threat”.

“Financial services is under threat, under siege. We know there is a problem with it and growing in intensity as a challenge to our country,” said Mr Christie.