The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

GRAND Bahama has not been able to realise its full potential because potential exporters have no market access protection, the Bahamas' lead World Trade Organisation (WTO) negotiator said yesterday.

Raymond Winder, during a presentation at a 'State of the Economy Report' conference hosted by the Bahamas Chamber of Commerce, said that given Grand Bahama's infrastructure and tariff incentives, the island was intended to attract industry and drive employment.

"It hasn't happened, and there are a number of reasons why people will say that it hasn't happened, but one of the main reasons is that when we talk about trade we are not a a part of the world order in terms of trade," said Mr Winder.

"It makes it difficult for an entrepreneur to go to Grand Bahama without a a basic level of protection. Imagine what every potential investor thinks of before they come to the Bahamas. The minute it is said the Bahamas is not a part of the WTO, the Bahamas goes down the list. "Anyone who comes to the Bahamas is not interested in selling just to Bahamians; they are interested in selling their products across the world, and the Bahamas is not the place to come to if that is your intention.".

Mr Winder suggested the absence of protection provided to investors by a rules-based trading regime, such as the WTO, is one of the major reasons why Grand Bahama has not realised its full potential.

"If you ask me what was probably one of the major reasons why we haven't been able to develop Grand Bahama, I am willing to stake my case that we are not a part of a trade regime that could protect our investors if they decide to come to Grand Bahama," he said.

"We have to make up our minds on whether we are going to open ourselves up and provide the basic level of protection for countries to trade, and prevent countries from setting up barriers."

The Minnis administration has approved an aggressive push for the Bahamas to become a full World Trade Organisation (WTO) member by 2019, a process which it began back in 2001.

"The Bahamas is the only country in the Western Hemisphere that is not a part of the WTO. When we attempted to join back in 2001 everyone at the WTO table thought that we would have been an easy case, and that it would have taken three to five years at best, so everyone around the world is shocked that it has taken so long," said Mr Winder.

He added that some have come to question whether the Bahamas is serious about its accession to WTO.

"The Bahamas becoming a member, or doing the things to become a member, is the choice the Bahamas has to make. We have to decide whether it is in our best interest. The rest of the world is not on our doorstep trying to make us become members," said Mr Winder.

He moved to reassure Bahamian retailers that he was prepared to advocate for them in their call for government to make apparel, shoes and fashion stores price competitive through duty elimination.

"I'm on your side. I'm your advocate. I will fight with the Government to try to make that happen because consumers ultimately benefit, and it gives you an opportunity to be competitive in the current world that we exist in," said Mr Winder.