The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The roll-out of the Bahamas’ Trade Information Portal will enable local businesses to fully exploit the Economic Partnership Agreement (EPA) with the European Union (EU), a Cabinet Minister believes.

Hope Strachan, minister of financial services, described the Portal as a “toolkit” that will enable Bahamian companies to improve their competitiveness.

While addressing the Portal’s recent launch, Mrs Strachan said: “The roll-out of this portal lends itself to enabling Bahamian businesses to take advantage of the benefits negotiated by the Government under the EPA, and providing vital information on how the EPA can work for them.”

The Portal is an online platform that provides market information to Bahamian businesses, as well as tools and guidance on how to access new export markets. It was developed through a collaboration between the Ministry of Financial Services and the Bahamas Chamber of Commerce and Employers Confederation (BCCEC), and was funded by the European Union (EU).

“The Bureau of Standards will ensure that Bahamian businesses are equipped to meet global standards,” Mrs Strachan said.

“While the Bahamas Trade Information Portal cannot provide a solution to all of the challenges of globalisation, it certainly will provide a wide array of tools for them to expand their horizon, improve their competitiveness and gain the requisite knowledge and skills to grow.

“There is no doubt that the Portal will provide a wealth of information. We cannot gain a competitive edge in a competitive global environment by simply having access to information.”

Mrs Strachan added: “Through this online trade information service, Bahamian entrepreneurs will have access to an array of dynamic tools. The portal contains valuable market intelligence tools that can provide guidance for Bahamian businesses seeking to identify new export markets.

“Customised reports on key sectors will provide valuable insight into market trends and emerging markets with impressive growth and untapped potential.”

Bahamian exporters will be allowed to market their company through individualised mini-web pages featuring their products and services.

Small and medium-sized enterprises (SMEs) can also connect to international buyers through a Google search-optimised exporter directory.

Mrs Strachan said that through the portal, businesses can connect to the International Trade Centre’s small and medium-sized enterprise academy and take advantage of free e-learning courses.