Lack of private sector involvement has been a key factor in why the Bahamas’ bid for full World Trade Organisation (WTO) membership has lasted 15 years and counting, a former Securities Commission principal believes.
Hillary Deveaux said it was “extremely ironic” that the Bahamas launched its membership effort in 2001, the same year that 13 Caribbean countries began efforts to establish a Coalition of Services Industries in their nations.
The Bahamas this week became the 14th regional nation to create such a Coalition, which has as a key objective to advance and protect the interests of services industries in trade negotiations.
Mr Deveaux, who was recently appointed as the Bahamas’ alternate chief negotiator for the WTO membership effort, said the absence of advocacy bodies such as a Coalition of Services Industries had impeded the country’s progress in these talks.
“It shows why we have not progressed in the accession to WTO,” Mr Deveaux said of the 15-year delay in the Bahamas forming its own Coalition of Services Industries.
“It’s one of the reasons, but not the only reason, why we have not moved further in the accession to WTO. We have to have input from stakeholders.
“They have to protect their interests, and ensure they have market access outside the jurisdiction.”
Mr Deveaux, who chaired the services negotiating group for the short-lived Free Trade Area of the Americas (FTAA) project, said those talks exposed just how far behind the Bahamas was in terms of private sector involvement.
He recalled how the US, in particular, was agitating to see other countries’ legal frameworks, so it could both protect the interests of American business and ensure foreign markets were opened up to their goods and services.
“You don’t go into these negotiations unless you have the support of organisations like the Coalition of Services Industries,” Mr Deveaux said bluntly.
The former Securities Commission executive director, who is now a consultant to the Ministry of Financial Services, the ministry responsible for trade matters, emphasised that the notion of so-called ‘free trade’ was a myth when it came to the WTO.
He told Tribune Business that the rules, or ‘terms of trade’, that the Bahamian economy and private sector will face upon accession to the WTO depend entirely on the skills of the negotiating team that himself and HLB Galanis principal, Philip Galanis, will lead.
“This thing about free trade, the WTO and other agreements, they’re not fair trade,” Mr Deveaux told this newspaper. “It has nothing to do with fairness. It’s how you negotiate.”
He added that “massive education programmes” were required to inform the business community and individual Bahamians how WTO membership would impact their daily operations and lives.
“One of the biggest violations in trade in the Bahamas is intellectual property rights,” Mr Deveaux admitted.
“You see people near food stores, selling DVDs and CDs. They’re not legitimate, and think they’re making an honest living, but they’re abusing private individuals and companies’ intellectual property rights. It’s like going into a person’s home and stealing. They don’t understand that.”
Mr Galanis, in a separate interview, confirmed to Tribune Business that one of the newly-reformed Trade Commission’s primary tasks will be to educate the private sector and Bahamians on free trade agreements, and how they impact them in practice.
“Our mandate is to ensure Bahamians are aware of the importance and terms of the various trade agreements undertaken by the Bahamian Government,” he said.
“We are mandated to raise awareness of the impact of the trade agreements. There are a number of factors that will impact our daily lives; the removal of tariffs, movement of labour and anti-dumping.”
The Bahamas’ negotiators, in talks with the countries that have an interest in trading with this nation, such as the US, Canada, European Union (EU) and other Caribbean nations, will be tasked with achieving the best possible ‘terms of trade’ for local businesses.
WTO membership will mean that the Bahamas formally enters, for the first time, a truly global trading system where it has to ‘play by the rules’ with 152 other countries, and not enjoy the typical ‘ad hoc’ arrangements many exporters have previously been used to.
“We want to look at the industries to protect,” Mr Galanis told Tribune Business. “We need to understand and identify sectors vulnerable to trade liberalisation.
“We don’t want to open up, for example, the transportation sector to persons in the international arena. That’s going to be very important for us.”
Mr Galanis acknowledged that the Bahamas has already signed on to the Economic Partnership Agreement (EPA) with the European Union (EU), its first-ever rules-based trading treaty, but has yet to take full advantage of it.
The Bahamas has also yet to implement all its obligations under the EPA, such as the creation of a competition watchdog.
“In a number of instances, it’s a matter of implementing things and taking full advantage of concessions granted under the EPA,” Mr Galanis added.
He emphasised that the Standards Bureau would play a key role in the Bahamas’ integration into the world economy, as it would certify that this nation’s exports met global health and safety standards - sanitary and phytosanitary standards - and were of a particular quality.
Comments
killemwitdakno 7 years, 9 months ago
'They have to protect their interests, and ensure they have market access outside the jurisdiction.”
What Bahamian business is going to sue a foreign government, and win?
"You see people near food stores, selling DVDs and CDs. They’re not legitimate, and think they’re making an honest living, but they’re abusing private individuals and companies’ intellectual property rights. It’s like going into a person’s home and stealin" That can be accomplished with good practice alone. Not once has gov explained having respect for foreign brands.
However who abroad is ripping off Bahamian goods? No one because Bahamians don't even know what those goods are. Not having had a Coalition of Services Industries before now goes to show that this isn't about benefits for local producers.
killemwitdakno 7 years, 9 months ago
Galanis sounds like he's believing a greedy desperate fallacy. The argument is like the emperor's new clothes.
killemwitdakno 7 years, 9 months ago
And as good as we are at that, the big leagues don't have an ear for these rocks. Recall that the Doha Round is dead, what exactly is in it for us after that?
killemwitdakno 7 years, 9 months ago
"There are a number of factors that will impact our daily lives; the removal of tariffs, movement of labour and anti-dumping.”
WTO is about dumping on third world so that 1st world still earns from waste.
Movement of labour means more Chinese and others are allowed to be brought in otherwise we'd be violating the state's free trade.
Tariffs were already supposed to be removed with VAT.
killemwitdakno 7 years, 9 months ago
Free trade agreements have become rape freely agreements. This is why Britain left the EU.
killemwitdakno 7 years, 9 months ago
“massive education programmes” were required to inform the business community and individual Bahamians how WTO membership would impact their daily operations and lives.
Really cruel to not gather insight from them if it's for them.
killemwitdakno 7 years, 9 months ago
"and not enjoy the typical ‘ad hoc’ arrangements many exporters have previously been used to."
Say goodbye to penalties if foreign businesses view it as hindering and "unfair competition", even though they are the ones with an advantage because the have cheaper products, have factories, have the business benefits from their tax to their governments which isn't considered the same as subsidies. Local will have no equity.
killemwitdakno 7 years, 9 months ago
PLEASE.
killemwitdakno 7 years, 9 months ago
No one has mentioned if we could end up with something like fishing quotas!
https://www.theguardian.com/environme...">https://www.theguardian.com/environme...
https://en.wikipedia.org/wiki/Common_...">https://en.wikipedia.org/wiki/Common_...
https://www.wto.org/english/tratop_e/...">https://www.wto.org/english/tratop_e/...
Economist 7 years, 9 months ago
"But proponents of remaining in the EU view the position as wishful thinking because the UK only possesses 13% of the EU’s total sea area, but is allocated 30% of the EU’s current fish quotas."
killemwitdakno 7 years, 9 months ago
EU exports have benefitted more form EPA than Caribbean exports.
http://ec.europa.eu/trade/policy/coun...">http://ec.europa.eu/trade/policy/coun...
http://trade.ec.europa.eu/doclib/docs...">http://trade.ec.europa.eu/doclib/docs...
by killemwitdakno
Fit our position within each of these bullet-points:
EU trade policy and ACP countries The Economic Partnership Agreements between the EU and African, Caribbean and Pacific countries and regions aim at promoting ACP-EU trade – and ultimately contribute, through trade and investment, to sustainable development and poverty reduction. Trade with ACP countries represents more than 5% of EU imports and exports. The EU is a major trading partner for ACP countries. The EU is the main destination for agricultural and transformed goods from ACP partners – but commodities (e.g. oil) still form a large part of ACP-EU trade. The EPAs intend to support trade diversification by shifting ACP countries' reliance on commodities to higher-value products and services. The majority of ACP countries are either implementing an EPA or have concluded EPA negotiations with the EU Economic Partnership Agreements in a nutshell Economic Partnership Agreements:
are a process dating back to the signing of the Cotonou Agreement. are "tailor-made" to suit specific regional circumstances. are WTO-compatible agreements, but go beyond conventional free-trade agreements, focusing on ACP development, taking account of their socio-economic circumstances and including co-operation and assistance to help ACP countries benefit from the agreements. open up EU markets fully and immediately, but allow ACP countries long transition periods to open up partially to EU imports while providing protection for sensitive sectors. provide scope for wide-ranging trade co-operation on areas such as sanitary norms and other standards. create joint institutions that monitor the implementation of the agreements and address trade issues in a cooperative way. last but certainly not least, are also designed to be drivers of change that will help kick-start reform and contribute to good economic governance. This will help ACP partners attract investment and boost their economic growth.
http://ec.europa.eu/trade/policy/coun...">http://ec.europa.eu/trade/policy/coun...
SP 7 years, 9 months ago
.......... PM Christie stupidly rushing Bahamas into what the UK is rushing out of ...........
First and foremost it is ultimately important to note every initiative brought by this PLP government to date are dismal failures!
Secondly, WTO policy is a ploy of "global elitist" to further enrich themselves by saturating world economies with cheap labour to bring down labour cost and increase profits.
"Free movement of labour" means freedom of migration, open borders and inequitable labour competition, meaning individuals from economic depressed countries will flood the Bahamas, work for less than Bahamians forcing more and more locals out of the labour pool.
http://www.usatoday.com/story/news/wo...">http://www.usatoday.com/story/news/wo...
This "globalization" is exactly what caused Brexit and will cause absolute havoc and more misery on already depressed, unemployed and underemployed Bahamians.
http://www.express.co.uk/news/politic...">http://www.express.co.uk/news/politic...
"Trade" means "The action of buying and selling goods and services"
Bahamas being a 97% consuming nation will always end up on the losing end of any "trade" agreements as we have virtually nothing of consequence to trade. Why would we be foolish enough to throw open our country to an obviously losing proposition that only further decimate our people?
We must force a referendum on WTO so we can exercise our right to sovereignty, self-determination and vote to join or abstain from WTO.
http://www.express.co.uk/news/world/6...">http://www.express.co.uk/news/world/6...
Anything brought by desperate, lame duck, PM Christie is highly suspect.
Initiatives put forward at this stage, especially "fast track initiatives" can only be to benefit PM Christie and special interest groups.
SP 7 years, 9 months ago
...................................... The UK Bids Europe Farewell ......................................
On June 23 by a small majority, the British people voted to remove themselves from the European Union (EU). The decision has consequences for the Caribbean.
After a vitriolic campaign and the tragic murder of one member of Parliament, a hugely divided Britain decided by 52 per cent to 48 per cent that it would stand alone and as it were, reset its relationship not just with Europe but with the whole world.
While London, Scotland, Northern Ireland and the vast majority of the young voted in favour of remaining in, those who had not benefitted from the EU relationship and economic globalisation in the country’s old industrial heartlands and on the coast and at its the rural fringes, voted to leave.
A huge factor was a fear of immigration. Although many voters’ emotional response on this issue was linked to concerns about overcrowded schools, hospitals and difficulties in obtaining housing, such views were significantly less common in the country’s cosmopolitan urban centres where the migration from Europe and other parts of the world has been at its highest.
What happens next is far from clear, with even the outline of the two-year process of leaving uncertain. But having voted for Brexit, as one US commentator noted, a long earthquake will now begin. It will change the way the British see each other, probably break up the Union with Scotland and the other component parts of the UK, damage the British economy, and perhaps mortally weaken the already shaky foundations of European unity.
Despite all living British Prime Ministers, all of the major political parties, the majority of business and most world leaders including President Obama seeing value in the UK remaining a part of the EU and saying so, the majority of the British electorate rejected the view of what many saw as remote elites, and followed a populist call for change that bears little resemblance to the way that Britain presently relates to the world.
More Below
SP 7 years, 9 months ago
...................................... The UK Bids Europe Farewell ......................................
See below link for full text:
http://www.caribbean-council.org/uk-b...">http://www.caribbean-council.org/uk-b...
SP 7 years, 9 months ago
... Bahamians Better Wake Up & Pay Attention, We'er Headed Back To Slavery Forever ...
The UK just barely dodged the bullet! WTO is the sister monster to EU in this region providing far less benefits to Bahamians than it offers!
What do we have to trade or gain compared to what we stand to lose as participants in the WTO?
Not surprisingly, PM Christie has learned nothing from the failed referenda.
Christie is stupidly acceding to WTO which is another UN mandate detrimental to the well being of the Bahamas and Bahamians.
Bahamas has everything to lose and nothing to gain by joining WTO! What are we trading?
Threats of stopping trade with Bahamas if we do not join WTO are the same scare tactics used by the EU and President Obama before the Brexit vote.
.................................... LOOK AT THE REALITY "TODAY" .......................................
https://heatst.com/uk/11-countries-ge...">https://heatst.com/uk/11-countries-ge...
PM Christie is proven totally incompetent. And finds himself in too many compromising positions after four years of categorical stupidity and unequivocal failure!
He is pressured to save his own skin at any cost, does not have the testicular fortitude, aptitude and moral authority to negotiate in the best interest of our country!
Economist 7 years, 9 months ago
SP etc.
Get real and tell the whole truth. http://www.bbc.com/news/uk-politics-e...">http://www.bbc.com/news/uk-politics-e...
They are not going to be able to reduce the immigration and other misleading statements used to get the old, who want to turn back the clock and the lower educated labourer, who wants the old union days back to vote for leave.
And now they find that it is not what they thought.
SP etc. you are making misleading statements that do not accurately reflect reality.
SP 7 years, 9 months ago
........................... Economist is 100% WRONG! ........................
Nothing misleading about the "Accurate reality" expressed by THE UK FOREIGN Secretary.
Discussing EU immigration, Mr Hammond said: "Freedom of movement cannot operate in the way it has operated up to know that is the clear underlying decision the British people were taking on June 23.
http://www.express.co.uk/news/politic...">http://www.express.co.uk/news/politic...
Economist 7 years, 9 months ago
Hammond did not address the need for access to the single market. The EU has said "access to the Single Market comes with free movement of labour."
They have said that is non-negotiable.
SP 7 years, 9 months ago
Everything is on the table, and everything is ALWAYS negotiable!
Brussels unreasonable dictator style posture has backed themselves into a serious corner. Poland, Hungary and even Germany now calling for reform as EU firms want a satisfactory resolution in Brexit negotiations to protect their own markets.
http://www.express.co.uk/news/politic...">http://www.express.co.uk/news/politic...
An amicable deal will be struck “It may be that UK have the right of free movement with a cap. UK now has control of their borders and immigration which is the way it should be.
Brussels may not like it.....Who cares??
bogart 7 years, 9 months ago
CARICOM And the free movement of labour between states from Haiti to Guyana. The Bahamas has not signed on to the free movement as yet. The Bahamas dollar is on par with the US, we have free education, medicals free or heavily subsidized and will soon be having NHI. Guaranteed with free movement of labour we will be speaking many different languages within a week as those in the Caribbean with capital migrate and cousins follow.
Economist 7 years, 9 months ago
WTO does not deal with freedom of movement of labour.
Bahamas dollar will soon lose its value when The Bahamas gets 'junk bond' status.
Migrants will want to go to Cuba where they have better education than The Bahamas, better health than The Bahamas, and will soon have better job opportunities.
The Bahamas is going down hill fast. WTO would improve our businesses and business opportunities. The country would be much better off if it went into the WTO.
SP 7 years, 9 months ago
Name just one developing country proven "much better off after WTO?"
Reports abound concerning massive damage done to developing countries by WTO.
Will you have us believe Bahamas jokey, clown politicians could do better than countries far more developed than us?
http://www.internationallawoffice.com...">http://www.internationallawoffice.com...
https://www.theguardian.com/global-de...">https://www.theguardian.com/global-de...
http://viacampesina.org/en/index.php/...">http://viacampesina.org/en/index.php/...
http://www.forbes.com/2010/05/18/wto-...">http://www.forbes.com/2010/05/18/wto-...
http://www.forbes.com/2010/05/18/wto-...">http://www.forbes.com/2010/05/18/wto-...
Economist 7 years, 9 months ago
The Bahamas is not an agricultural exporter but it does provide Financial Services. Look who has been the biggest beneficiary of Bahamian Financial Services Head Offices. Yup, Barbados. Why you may ask is that? The answer is the WTO.
Tourism and Financial services are the basis of our economy, not agriculture, nor do we manufacture very much, except in Freeport (and they have suffered by us not being in the WTO).
Ask yourself why all those good paying Head Office jobs are no longer in The Bahamas and are now, for the most part, in Barbados.
SP 7 years, 9 months ago
Throw the baby out with the bath water & hope a few jobs come back?
Much more preferable to rid ourselves of the political grouping of corrupt obstructionist that drove the country into the ditch, properly develop and manage natural resources, focus on the 450M North Americans just across the pond and develop a SERIOUS tourism product.
The greatest and only "real" impediment to Bahamas growth is a very small group of corrupt individuals working in concert to pillage and plunder everything for themselves.
We need freedom from oppression, victimization and exclusion.
We do not need WTO with their conglomerate multinational companies joining FURTHER partnerships with the elite pirates called "politicians"!
bogart 7 years, 9 months ago
Love your points and persistence. If WTO why not CARICOM or vise-versa My concern is the labour aspect with regards to CARICOM in our backyard and large numbers of legal and or illegal who may automatically be rewarded for entering our borders legally or illegally. We do have white illegals. We also have some 28,000 work permit holders. We have illegal shanty towns with availability of workers prepared to accept below wage level to compete with workers living outside shanty towns unnaturally pushing down equilibrium point supply and demand. We should also try to do house cleaning first. Good points on CUBA.
The_Oracle 7 years, 9 months ago
There was some Private sector input though not facilitated or solicited, as the information could be had, until Zhivargo Laing fired the Bahamas negotiation team and sequestered all information to himself and Raymond Winder. Not that the PLP or FNM did anything prior but muddle through ill equipped, understaffed and Blind as bats. Leslie Miller slept through most round table meetings which silenced the rest of the Bahamas delegation. Not having the Input they went ahead and Signed the EU-EPA trade agreement, in excess of WTO rules and requirements.(super WTO) This is starting to bite us, but will really do so over the next 5 years. Non the less the information can be had from all the other signatory nations (websites) as they are not treating their private sectors as one would treat mushrooms. Almost all legislation enacted during the last 20 odd years has been enacted with the specific purpose of bringing our laws into WTO and EU-EPA compliance. The few others were to comply with OECD demands and in a panic.
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