The Tribune

By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

The Bahamas’ highly-educated workforce could become one of its biggest export assets, with officials eyeing professional services - from engineers to digital specialists - as part of a new national export strategy aimed at expanding the country’s presence in global markets.

Barry Griffin, executive chairman of the Bahamas Trade Commission, said the Government is moving to establish the country’s first formal export strategy, which will help define priority sectors for investment and outward exports over the next two decades.

He added that while exports are frequently cited as a priority by Bahamian businesses and the public, the country has never had a comprehensive policy outlining its export objectives or the industries it intends to develop for international markets.

“There has never been a single, concise policy that tells the private sector or international stakeholders what the country’s export objectives are; where we see the future of exports, or where we are going to invest our money,” said Mr Griffin.

He explained that Cabinet recently approved a consultative document that will serve as the foundation for the development of a national export strategy. The document will now be used to engage the private sector and international stakeholders in consultations aimed at refining the country’s export priorities.

The strategy will outline the sectors that the Government intends to prioritise for both investment and exports over the next 10 to 20 years. While manufacturing and light manufacturing will form part of the strategy, Mr Griffin said services are expected to play a major role, reflecting the structure of the Bahamian economy.

“We are a heavily services-based economy, and many of our services already export to the world,” said Mr Griffin. He added that a range of professional skills developed in The Bahamas could also be marketed across the region and internationally.”

Mr Griffin cited the expertise of Bahamian engineers and architects who have worked on major developments such as Baha Mar and Albany, suggesting those capabilities could be exported to support large-scale projects elsewhere in the Caribbean.

He also highlighted opportunities for creative professionals, digital specialists and other professional services to expand their reach beyond the domestic market. “One of our biggest assets in The Bahamas is our human capital,” Mr Griffin said. “We have a very educated population across the services and professional sectors, and we want to highlight that.”

The Government is partnering with the Inter-American Development Bank (IDB) to develop the strategy, with grant funding from the institution supporting consultations and technical work to finalise the plan.

Mr Griffin said the consultations will help shape the final national export strategy and ensure it reflects both private sector priorities and emerging opportunities in global markets.